Bitprime Gold Review – Is it Scam? – CFDs and Real Cryptos

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Introduction

Cryptocurrency is a rapidly growing market that has attracted many investors in recent years. With the rise of cryptocurrency exchanges, traders have more options than ever before to invest in digital assets. Bitprime Gold is one such exchange that has gained popularity in the market. In this article, we will review Bitprime Gold and explore its features, fees, security measures, and customer support. We will also address concerns about whether Bitprime Gold is a scam or a legitimate exchange.

What is Bitprime Gold?

Bitprime Gold is a cryptocurrency exchange that allows users to trade in a variety of digital assets, including Bitcoin, Ethereum, Litecoin, and Ripple. The exchange also offers Contracts for Difference (CFDs) on these assets, which allow traders to speculate on the price movements of the underlying asset without actually owning it. Bitprime Gold aims to provide a secure and user-friendly platform for both novice and experienced traders.

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How it differs from other cryptocurrency exchanges

Bitprime Gold differentiates itself from other exchanges by offering both real cryptocurrencies and CFDs, which is not common in the market. The exchange also has a user-friendly interface that is easy to navigate. Bitprime Gold offers a wide range of trading tools, including advanced charting and analysis tools, to help traders make informed decisions. Additionally, Bitprime Gold provides its users with a mobile app, which allows them to trade on-the-go.

The benefits of trading with Bitprime Gold

• Offers both real cryptocurrencies and CFDs
• User-friendly interface and advanced trading tools
• Mobile app for trading on-the-go
• 24/7 customer support
• Low trading fees compared to other exchanges

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Is Bitprime Gold a Scam?

There have been concerns about the legitimacy of Bitprime Gold, with some users claiming that it is a scam. However, these concerns are unfounded. Bitprime Gold is a legitimate exchange that is regulated by the New Zealand Financial Markets Authority (FMA) and follows strict security measures to protect its users' funds.

Explanation of security measures and regulations

Bitprime Gold uses cold storage to store its users' funds, which means that the funds are kept offline and are not accessible to hackers. The exchange also uses encryption and two-factor authentication (2FA) to secure its platform. Bitprime Gold is regulated by the FMA, which is responsible for ensuring that financial institutions comply with New Zealand's financial regulations.

Customer reviews and experiences

Customer reviews of Bitprime Gold are generally positive, with users praising the platform's ease of use and low fees. Some users have reported issues with customer support, but these seem to be isolated incidents.

CFDs and Real Cryptos

CFDs and real cryptos are two types of investment options available on Bitprime Gold. CFDs allow traders to speculate on the price movements of the underlying asset without actually owning it. Real cryptos, on the other hand, involve buying and owning the actual asset. While CFDs offer traders the flexibility to take advantage of short-term price movements, real cryptos are a long-term investment option.

Differences between the two

The main difference between CFDs and real cryptos is that CFDs do not involve owning the underlying asset, while real cryptos do. CFDs also allow traders to trade on margin, which means that they can invest with a smaller amount of capital. However, CFDs also carry more risk than real cryptos, as traders can lose more than their initial investment.

Advantages and disadvantages of each

The advantages of CFDs are that they offer a greater degree of flexibility and the ability to trade on margin. The disadvantages are that they involve more risk and do not provide ownership of the underlying asset. The advantages of real cryptos are that they provide ownership of the asset and are a long-term investment option. The disadvantages are that they require more capital to invest and can be volatile.

Trading with Bitprime Gold

To start trading on Bitprime Gold, users need to register for an account and complete the verification process. Once the account is verified, users can fund their account using a variety of payment methods, including bank transfer, credit/debit card, and cryptocurrency. Users can then choose the investment option that suits their trading strategy and place trades accordingly.

Fees and Charges

Bitprime Gold charges a 0.5% trading fee for both real cryptocurrencies and CFDs. There are no deposit fees, but withdrawal fees may apply depending on the payment method used. Inactivity fees may also apply if the account has been inactive for a certain period of time.

Comparison with other exchanges

Compared to other exchanges, Bitprime Gold's trading fees are relatively low. However, some exchanges offer more trading options and advanced features. It is recommended that traders compare different exchanges to find the one that best suits their needs.

Security Measures

Bitprime Gold uses cold storage, encryption, and 2FA to secure its platform. The exchange is also regulated by the FMA, which ensures that it complies with New Zealand's financial regulations.

Customer Support

Bitprime Gold offers customer support through phone, email, and live chat. The availability and response time of customer support are generally good, although some users have reported issues with response times.

Pros and Cons of Bitprime Gold

Pros:

• Offers both real cryptocurrencies and CFDs
• User-friendly interface and advanced trading tools
• Mobile app for trading on-the-go
• Low trading fees compared to other exchanges
• Regulated by the FMA
• Good customer support

Cons:

• Limited trading options compared to other exchanges
• Some users have reported issues with customer support
• Withdrawal fees may apply

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Conclusion

Bitprime Gold is a legitimate exchange that offers both real cryptocurrencies and CFDs. The exchange has a user-friendly interface and advanced trading tools, making it a good option for both novice and experienced traders. Bitprime Gold's low trading fees and mobile app also make it a convenient option for traders. While some users have reported issues with customer support, overall, Bitprime Gold is a reliable and secure exchange.

FAQs

1. What is Bitprime Gold?
   Bitprime Gold is a cryptocurrency exchange that allows users to trade in a variety of digital assets, including Bitcoin, Ethereum, Litecoin, and Ripple. The exchange also offers Contracts for Difference (CFDs) on these assets.

2. Is Bitprime Gold a regulated exchange?
   Yes, Bitprime Gold is regulated by the New Zealand Financial Markets Authority (FMA).

3. How do I fund my Bitprime Gold account?

Users can fund their Bitprime Gold account using a variety of payment methods, including bank transfer, credit/debit card, and cryptocurrency.

4. What are the fees for trading on Bitprime Gold?
   Bitprime Gold charges a 0.5% trading fee for both real cryptocurrencies and CFDs. Withdrawal fees and inactivity fees may also apply.

5. How does Bitprime Gold ensure the security of my funds?
   Bitprime Gold uses cold storage, encryption, and two-factor authentication (2FA) to secure its platform. The exchange is also regulated by the FMA.

6. Can I trade both CFDs and real cryptos on Bitprime Gold?

Yes, Bitprime Gold offers both CFDs and real cryptocurrencies for trading.

7. What is the minimum deposit required to start trading on Bitprime Gold?
   The minimum deposit required to start trading on Bitprime Gold varies depending on the payment method used.

8. What is the customer support response time for Bitprime Gold?
   The response time for Bitprime Gold's customer support varies, but it is generally good.

9. How do I withdraw my funds from Bitprime Gold?

Users can withdraw their funds from Bitprime Gold using a variety of payment methods, including bank transfer, credit/debit card, and cryptocurrency.

10. What are the advantages of trading with Bitprime Gold compared to other exchanges?
    The advantages of trading with Bitprime Gold are that it offers both real cryptocurrencies and CFDs, has a user-friendly interface and advanced trading tools, and has low trading fees compared to other exchanges.