Bitvenus (BVOX) is a cryptocurrency exchange providing access to a leverage of up to 200x and 1-ms transactions.
The exchange charges a 0.1% fee for spot trading for more than 100 tradable coins/tokens. The customer services are provided via 2 channels on a 24/7 basis.
Company Specifications + Regulation
Bitvenus Technology Ltd is the company behind the BVOX (formerly branded as Bitvenus) cryptocurrency exchange. Based on the official website, this exchange was founded in June 2018. And is headquartered in Canada.
Regarding regulation, it claims to have obtained both US and Canada MSB licenses. More details about the company's registration and regulatory status are not readily available.
Summary of Key Features
Here's a quick overview of what the platform has to offer for traders. Table of Specifics:
Exchange | BVOX |
Launch Date | June 2018 |
Levels | None for Fees Unverified, KYC1, KYC2 for Verification |
Trading Fees | 0.1% for Spot Trading 0.04% for Futures Trading as Maker 0.06% for Futures Trading as Taker |
Restricted Countries | Mainland China, Hong Kong SAR, Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, the United States and all U.S. territories |
Supported Coins | 100+ |
Futures Trading | Yes |
Minimum Deposit | Varies |
Deposit Methods | Crypto |
Withdrawal Methods | Crypto |
Maximum Leverage | 200x |
Minimum Trade Amount | Varies |
Security Factors | 2FA |
Services | Copy Trading |
Customer Support Ways | Live Chat, Email |
Customer Support Hours | 24/7 |
Fiat Deposit | No |
Affiliate Program | Yes |
Orders Execution | Not Specified |
Native Token | None |
Does Bitvenus Work Based on a User Leveling System?
Bitvenus employs a tiered user level structure for users' KYC verification. The leveling system is based on withdrawal limits, explained in this table:
- | Withdrawal Times Limit | Withdrawal Amount Limit |
Unverified | 3 in 24 Hours | 10,000 USDT |
KYC1 | 5 in 24 Hours | 50,000 USDT |
KYC2 | No Limits |
Bitvenus Exchange Commissions and Costs; Is It Affordable?
Many exchanges work with a system based on the trading volume for fees. BVOX does not take such measures but positions itself as a competitive option in terms of trading fees. Bitvenus Trading Fees:
Trading Type | Maker Fee | Taker Fee |
Spot | 0.1% | |
Futures | 0.04% | 0.06% |
These rates are indeed competitive when compared to industry standards. However, it's crucial to consider other potential costs such as deposit and withdrawal fees, which can vary depending on the cryptocurrency and network conditions.
Tradable Coins And Tokens
Bitvenus offers a diverse range of tradable cryptocurrencies and tokens, catering to various investor preferences. While an exhaustive list is not provided, the exchange typically includes popular cryptocurrencies and emerging tokens. Here's what you can expect:
- Major Cryptocurrencies: Bitcoin [BTC], Ethereum [ETH], Ripple [XRP]
- Stablecoins: Tether [USDT]
- DeFi Tokens: Uniswap [UNI]
- Meme Coins: Dogecoin [DOGE], Shiba Inu [SHIB]
Overall, this platform provides over 100 coins and tokens for trading.
Futures And Margin Trading on Bitvenus
This exchange does offer futures trading, providing traders with opportunities for leveraged positions and more advanced trading strategies. Here are the key points about the futures market on Bitvenus:
- Offering perpetual futures contracts;
- Leverage up to 200x is available, allowing traders to amplify their potential profits (and risks);
- The platform uses a mark price system to prevent market manipulation and ensure fair liquidation processes.
Based on our investigations, this company does not offer margin trading as a stand-alone service.
Account Registration And Verification Guide
Signing up on Bitvenus takes a path similar to that of other exchanges. Step-by-Step Guide on Registration:
- Visit the Bitvenus website and click on the "Sign Up" or "Register" button;
- Enter your email address (or phone number) and create a strong password. Alternatively, use your Google account;
- Agree to the terms of service and privacy policy;
- Complete the email verification process by entering the code sent to your registered email address.
Now, your account is created and ready to use. For getting the most out of the exchange, verify your identity by providing the required information and submitting the necessary documents.
Remember, verification requirements may vary depending on your location and the level of trading you intend to do. Always ensure you're using the official Bitvenus website to protect your personal information.
Exchange Safety; Is It Secure Enough?
Security is paramount in the world of cryptocurrency exchanges, and Bitvenus claims to prioritize the safety of user funds and data. Actually, it says that they have "the most authoritative security risk control team in the industry", which is a bold statement.
BVOX claims that their team consists of over 20 professional risk control experts. Other than this, it does not provide any more details regarding security measures, etc.
Available Payment Options
Despite most crypto platforms in the industry, Bitvenus exchange does not provide fiat deposits and withdrawals. Therefore, the only payment method on the platform is crypto. However, available payment methods may vary based on your geographical location.
Always check the Bitvenus website or contact their customer support for the most up-to-date information on available payment methods in your region.
Trust Scores and Evaluations on Reputable Websites
Trust scores on websites such as CoinGecko are crucial indicators of an exchange's reliability and reputation. Unfortunately, there are not many reviews and ratings of BVOX on the internet, but here are some of the notable ones:
- Trustpilot: 3.7/5, based on only 1 review
- CoinGecko: 7/10, evaluated by the expert
Because of the number of ratings being too low, we cannot rely on them for evaluating the performance of BVOX. However, this fact is a drawback for the exchange.
Copy Trading on Bitvenus - Does This Exchange Offer Any Other Investment Options?
Copy Trading has become a very popular service for earning passive income in the cryptocurrency industry, and most platforms offer it. BVOX is one of these exchanges. Key Features of Copy Trading on Bitvenus:
- One-click ordering for fast and safe copying;
- Simple process in 3 easy steps;
- Information and statistics of each professional trader available.
Unfortunately, this company does not offer any other investment programs beyond copy trading.
Writer’s Opinion And Conclusion
Bitvenus (BVOX) is a crypto trading platform with a 3.7/5 trust score on the Trustpilot website and a 7/10 evaluation rating on CoinGecko.
The exchange charges a 0.04% maker and 0.06% taker fee for trading futures. There's no fiat deposit option available.