Bithoven, a recognized cryptocurrency exchange, is currently offering margin trading services for users on its platform. The information was released by the company with the intention to offer the services traders request the most. With this new feature, individuals will be able to improve their trading strategy and potentially increase their profits.
Bithoven Adds Support To Margin Trading
After many requests from users at the exchange, the cryptocurrency exchange Bithoven decided to add support to margin trading. With this new feature, traders will be able to have new advanced tools for their trading activities that would potentially allow them to increase their profits.
This new feature is part of the latest implementation of MetaTrader 5, that includes an unlimited number of charts, 21 different timeframes, the possibility to have market depth and many other things. With this margin trading tool, it is possible to buy and sell larger amounts of virtual currencies with limited capital. For example, if a user deposits 0.1 BTC, they will be able to trade with 2 BTC. This is because the maximum leverage on the Bithoven platform is 20x.
Although the new margin trading services can help users increase their profits, trading with it includes higher risks. For users to be able to have their first contact with margin trading, the exchange is providing a free demo account that would allow traders to gain valuable experience at the time of trading with leverage. In this demo account, it will be possible for individuals to test their margin strategies without putting their funds at risk.
With the use of trading robots/expert advisors and the leverage ratio of 1:20, it will make the crypto trading activity much more fluent and scalable over time. At the moment, there are fourteen different trading pairs available to trade with leverage. These pairs are BTC/USD, ETH/USD, LTC/USD, XMR/USD, BCH/USD, ZEC/USD, DASH/USD, XRP/USD, EOS/USD, BCH/BTC, DASH/BTC, ETH/BTC, XMR/BTC and ZEC/BTC. The exchange is open to add new trading pairs supporting margin trading according to users’ feedback and requests from the community.
The exchange does not place a limit on the maximum funds used for margin trading on the platform. Furthermore, the new feature is available on every single platform the exchange created, including mobile phone, web and desktop. This shows that the team behind the platform is committed to offering the best services to all of its users, independently from which device they use.
The team at Bithoven is also available to solve inquiries and answer questions from users at all times, 24/7. There are many other crypto exchanges that do not offer 24/7 support, even when the market works at all times. Finally, Bitcoin is the nominal cryptocurrency for trading using margin, however, the intention is to add new virtual currencies in the future as requests from users increase.
These margin trading services are not available for residents of the United States.
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