What is Bitcoin.com Exchange?
Bitcoin.com is perhaps one of the most valuable domain names in the world. The Bitcoin.com Exchange, owned by the firm that owns this domain name, is also a cryptocurrency exchange. The exchange is based in Nevis and Saint Kitts, and though Bitcoin was founded in 2009, Bitcoin.com dates back to January 2008.
The platform emphasises the platform's security, speed, and dedicated 24/7 support as key advantages.
|· Using it is very simple
· UI is very smooth
· Authentic wallet
· All major platforms are supported
|· Fees are relatively high
· Only Bitcoin and Bitcoin Cash are supported.
· Some previous squabbles
· It is missing security features.
10 points summary
|Headquarters||Nevis and Saint Kits|
|Instruments||Deals in with different financial instruments|
|Minimum Deposit||$ 10|
|Base currencies||Bitcoin and Bitcoin cash|
|Education||One can access the blogs to know about various trading updates from time to time|
|Customer support||Online forum, Email support.|
From time to time, bittcoin.com declares several rewards programs to motivate its traders and users to invest and earn more. As a result, they are one of the most popular exchanges and highly regarded by several users worldwide.
Is Bitcoin.com safe or a scam?
You'll need to download a file from Bitcoin.com and install it on your PC if you want to use a software-based Bitcoin wallet. The difference between this and an online wallet is that the latter can only be used while connected to the Internet and on a specific website, whilst the former includes dedicated software.
As you might expect, this is fantastic news for anyone wondering if their Bitcoin.com wallet is secure.
A software wallet will have more security measures than the majority of web wallets. This is because wallets based on programmes or apps are more difficult to hack than those based on the browser.
|· Makes purchasing easy
· Software is easy to use
|· Only stores Bitcoin cash and Bitcoin|
Is Bitcoin.com a legit company?
Because this exchange platform has existed for several years and offers different methods of storing your digital assets, it can be said that they are a legit company if you are looking to store your investment in their exchange.
How are you protected?
The terms "two-factor authentication" and "unique PIN codes" generally come up whenever someone mentions the security element of Bitcoin wallets (whether in the reviews of Bitcoin.com or elsewhere).
When choosing the correct crypto wallet for yourself, both of these safety features have become almost crucial. In addition, custom PINs are self-explanatory - they're virtually foolproof unless you are using the same PIN codes across several websites.
2FA, on the other hand, is regarded as a top-tier security feature when it comes to keeping your cryptocurrencies safe - exchanges and wallets that implement 2FA (like Cex.io) are frequently lauded for it since it shows that they are concerned about the security of their users' crypto coins.
Currently, Bitcoin.com does not support two-factor authentication.
This does not, of course, imply that the wallet is "unsafe" to use. That said, it merely indicates that the company behind the platform is not taking specific security procedures that could ensure high levels of protection and are otherwise considered critical.
While many traders are aware of the terms "margin" and "leverage," few understand what they represent. Simply defined, margin trading entails borrowing money from a broker to invest in something like Bitcoin. Margin trading has grown in popularity in recent years because, unlike conventional trading, it allows you to access more significant sums of money and leverage your position. To put it another way, margin trading will enable you to make higher gains when you make successful deals. In the same vein, though, the risk of losing money is more elevated.
You deposit a proportion of the total order value into a margin trading account. This is where the concept of leverage trading comes into play. A margin is a tool used by traders to increase their leverage. Leverage increases your purchasing power by allowing you to establish more prominent positions than you would be able to if you could just use the funds in your account. Leverage is commonly expressed as a ratio, such as 1:10, 1:20, or 1:30.
Cryptocurrency CFDs have been a popular approach on trade platforms like eToro's because of crypto's volatility, allowing users to profit from massive and fast swings. In addition, margin trading can be utilised to open both long and also short positions. With cryptocurrency margin trading, you can purchase crypto if you believe the price will rise (and benefit from the increase) or sell it if you believe the price will fall (and profit from the price falling).
Trading with leverage Bitcoin, also known as crypto, essentially allows you to multiply your potential gains (or losses) by granting you authority over amounts ranging from 5 to 100 times the amount you needed to open.
So, if you wanted to invest $10,000 in a stock with a leverage ratio of 1:10, the margin would be 10%, you'd only need to invest $1,000. You'd need to invest $10,000 in unleveraged crypto trading, which is a significant amount more. However, if your equities rise in value, your profit margin remains unchanged. To put it another way, leverage trading Bitcoin requires substantially less capital upfront to generate the same reward. It's important to remember, though, that the opposite is also true if your stocks fall in value.
What is the risk level?
Margin trading can increase your profits, but it can also increase your losses. The main danger of margin trading is this. Here are some suggestions for reducing that danger.
A Stop Loss is a risk management technique that allows you to close a trade at a predetermined price if the market goes oppositely. It's a great approach to make sure you know precisely how much money you're at risk of losing. More information is available here.
Don't take on more than you can afford to lose:
Margin trading Bitcoin, regardless of how successful your technique is, can suddenly turn against you. Therefore, you should never spend more than you can afford to lose. In general, putting more than 5% of your account at risk is a recipe for disaster. Instead, you want to invest an amount in repaying if things go wrong with your venture.
A Take Profit order is similar to a Stop Loss in that it allows you to close your position when the profits reach a certain level. Because crypto is so unpredictable, it's a good idea to get out before the stock takes a turn for the worst.
Negative balance protection:
If market conditions cause your equity to fall below zero for some reason, some trading platforms will absorb the loss and restore your equity to zero.
There is a range of wallet apps available on the market from various providers, each with its own set of capabilities. We invite you to try the Bitcoin.com Wallet, the world's most popular non-custodial cryptocurrency wallet.
A 'software wallet' is what the Bitcoin.com Wallet is. It offers a superb balance of security and usability. However, depending on how you intend to use your Bitcoin, you may want to explore a different wallet type.
Software wallets make it simple to buy, sell, store, trade, and use digital assets.
Software wallets are apps that may be downloaded for free to your phone or computer. Then, you simply launch the App and can begin making Bitcoin transactions right away.
There is a minor risk of hacking because software wallets are connected to the Internet. As a result, it's best not to keep huge sums of Bitcoin in your software wallet.
While there have been a few isolated examples of software wallets being hacked, the far greater risk is losing your 'private key,' which is essentially your wallet's password. As a result, it's vital to keep a backup of your wallet and follow optimal password management procedures.\
Tip: Make sure the software wallet you're using, such as the Bitcoin.com Wallet, is non-custodial, meaning only you have access to your coins, not the wallet provider. This safeguards you against the wallet provider's fraud or bankruptcy.
Long-term storage for more enormous quantities of Bitcoin is possible using hardware wallets.
Hardware wallets, commonly referred to as cold wallets, are physical devices designed exclusively to store cryptocurrencies. They provide the most satisfactory protection for your digital assets by isolating you from the Internet, effectively making it impossible for hackers to access your wallet.
Hardware wallets aren't appropriate for conducting frequent Bitcoin transactions because they take longer to access. So instead, save them for long-term storage.
You must back up your private key and follow password management best practices, just as you would with software wallets.
Hardware wallets are definitely worth the investment, especially if you have a large amount of Bitcoin. However, only purchase a device from a reputable company to ensure it isn't tampered with.
Web wallets (also known as cryptocurrency exchanges) make it easy to purchase, sell, and trade cryptocurrency.
Many newbies choose centralised cryptocurrency exchanges to purchase their first Bitcoin since they make the procedure relatively simple. It's similar to registering for a trading account.
The funds in your account, however, remain under the authority of the Bitcoin exchange. Not only does this put you at risk of the exchange being hacked or going out of business, but it also means you'll have to obtain permission to withdraw your Bitcoin, wait longer, and pay higher transaction costs.
It is recommended that you exclusively use cryptocurrency exchanges for trading (not for storing your Bitcoin).
Tip: Digital assets should not be stored on cryptocurrency exchanges because they are not secure. If you're not planning on trading your Bitcoin right away, it's a good idea to move it to your software or hardware wallet.
How do I open a Bitcoin.com account?
The Bitcoin.com Wallet is a feature-rich, non-custodial wallet for Bitcoin (BTC) and Bitcoin Cash (BCH). One of the most beneficial aspects of the software is that it allows you to create a shared wallet.' A shared wallet, also known as a multi-signature (or multi-sig) wallet, is accessible by two or more people and requires at least one of these 'cosigners' to authorise BCH expenditure from the wallet.
Opening an account step by step:
- For Android, iOS, Linus, Mac, or Windows, get the Bitcoin.com Wallet app.
- To create a new wallet, tap the "+" in the Bitcoin Cash Wallets Menu from the Home screen.
- Select "Create shared wallet" from the "Add Wallet" option.
- For sending BCH from the shared wallet, set the 'wallet name,' 'your name,' 'total number of payers,' and 'required number of signatures.' Note that the 'total number of copayers' refers to the total number of users or devices that will use this wallet. The 'required number of signers' refers to the number of persons or devices which must manually approve a transaction before it may be transmitted.
- Create the wallet, then share the invite code with the people you wish to invite to the wallet. This code or the text block can also be scanned, copied and pasted.
The price (fees) of the wallet in question is a key aspect of any Bitcoin.com wallet evaluation.
As you may be aware, you can buy Bitcoin Cash and Bitcoin from the wallet in question. Naturally, you'll be charged a predetermined fee for your transaction, as with most other exchange wallets.
However, Bitcoin.com has a relatively simple fee structure in place, consisting of "Takers" and "Makers." The fee structure looks something like this:
- A 0.2 per cent fee is levied to takers.
- A 0.15 per cent fee is charged to the creators.
Now, to be honest, the fees are rather exorbitant! However, several wallets will take a considerably lower cost from your transaction and have a fee scaling scheme in place.
Bitcoin.com does not offer any demo account for the traders.
Deposits and Withdrawals:
To make a Bitcoin or Bitcoin cash deposit, go to the left menu and select the Wallets option, then the currency you desire to include. Next, choose DepositDeposit and copy the cryptocurrency address or scan the QR code with a QR code scanner.
After getting the correct number of confirmations from the network, the DepositDeposit will be deposited into your account.
To make a withdrawal, go to the "Wallet" page and select Withdrawal after selecting the relevant currency. Then, enter the recipient's address and the amount to be transferred.
Bitcoin.com offers you to deposit Bitcoin or Bitcoin cash in your wallet using the mobile App. The process is usually simple. Here is how you can do:
- On the Bitcoin wallet App's home screen, tap the Bitcoin tab.
- Press the Deposit Bitcoin button.
- With an external wallet, share, copy, scan your Cash App Bitcoin address.
- Use your Touch ID or PIN to confirm.
Besides, you can also use wire transfers, credit cards to transfer funds to your wallet.
What is the minimum Deposit on Bitcoin.com?
For US traders, the minimum DepositDeposit is $10 to access all the trading features in this platform.
How do I withdraw money from Bitcoin.com?
You can manually withdraw any collected revenue or set up "auto-withdrawals" to do so automatically.
Auto-withdrawals can be scheduled to happen every day or on specific days of the week.
Simply connect into your mining pool account and follow the guidelines below to make a manual withdrawal:
- Depending on the currency you wish to withdraw, choose your BTC or BCH dashboard.
- Select "Withdraw" from your account dashboard.
- Enter the amount you want to take out.
- Depending on what you're withdrawing, paste your BTC or BCH address (Ensure you are not sending BCH to a BTC address, or vice-versa)
- Enter the code for verification/PIN.
- Select "Withdraw" from the drop-down menu.
Please follow the procedures below to set up "auto-withdrawals":
- Go to "Settings" from your account dashboard.
- Depending on the currency you wish to withdraw, choose "Bitcoin" or "Bitcoin Cash."
- Enter your withdrawal address as well as the code for Two Factor Authentication (2FA).
- Choose the number of days you want auto-withdrawals to run by clicking "Enable Auto Withdrawal."
How long does it take to withdraw from Bitcoin.com?
To make a withdrawal, you must have at least 0.001 Bitcoin in your account. Every 24 hours, you can withdraw up to $2,000 in Bitcoin, and every seven days, you can withdraw up to $5,000. Transfers to external wallets take about two hours on average, but they can take longer.
Withdrawal fees vary depending upon the token you choose to withdraw. For more information, visit here: https://support.Bitcoin.com/en/articles/4869441-what-are-Bitcoin-com-exchange-s-withdrawal-fees
Bitcoin.com offers exclusive programs to their users/traders to collect free Bitcoin cash.
Does Bitcoin.com have a Bonus?
These are exclusive programs that encourage more users to participate in their trading platforms.
How do I claim my Bitcoin.com bonus?
When you first log in through their mobile App, you get a referral code, refer your friends with the code, and you can earn more free Bitcoin/Bitcoin Cash.
Bitcoin.com deals mainly with Bitcoin and Bitcoin cash which are their financial instruments.
Bitcoin.com Trading Platforms:
Using the Bitcoin.com Wallet to Purchase Bitcoin:
The Bitcoin.com Wallet is no exception since it allows you to buy Bitcoin directly from the wallet app. The Bitcoin.com Wallet is also completely non-custodial. This means you have complete control over your Bitcoin at all times.
Purchasing Bitcoins through the Bitcoin.com website:
You can buy Bitcoin with your credit/debit card or another payment method on the Bitcoin.com website (Apple Pay, Google Pay, etc.). When you purchase Bitcoin from our website, you must choose how you want to receive it. When prompted, you'll be asked to provide a Bitcoin 'address.'
A Bitcoin address, for instance, looks like this:
Using a centralised cryptocurrency exchange to purchase Bitcoin:
The Bitcoin you buy in this manner will first be held on your behalf by the cryptocurrency exchange. If you want complete control over your Bitcoin, withdraw it from the exchange and store it in a non-custodial wallet like the Bitcoin.com Wallet. Withdrawing Bitcoin from an exchange is subject to the exchange's withdrawal policies and fees. You may not be able to withdraw for days or weeks in some situations, and the withdrawal charge may be substantially more significant than a Bitcoin transaction fee.
Using a peer-to-peer trading platform to purchase Bitcoin:
Several platforms make Bitcoin and other digital assets trading easier by providing 1) a place for buyers and sellers to publish their buy and sell orders and 2) an escrow and dispute resolution service.
Because these platforms primarily serve to connect people, they aren't officially recognised as exchanges or "money transmitters" in many jurisdictions. Thus you may not be required to reveal your name to use them. P2P systems, despite being less convenient and typically more expensive overall, might be an efficient method for privacy-conscious purchasers to receive Bitcoin (it can be hard to get the "correct" market rate using this method due to lack of liquidity). However, as a seller, you should be aware that using a peer-to-peer network to participate in the commercial sale of Bitcoin (beyond, say, a few reasonable transactions here and there) may put you in violation of your country's laws.
Most peer-to-peer Bitcoin exchanges have a reputation system in place, which means tracking and showing their members' trading history. So if you want to buy something on a P2P exchange, seek sellers with a solid reputation, which means they've completed multiple exchanges and have never had a complaint.
Bitcoin.com have a forum where users can post queries and also email support but no live phone support.
Because there is no live customer service, you must frequently rely on the community for assistance. Unfortunately, while some people may be well-intentioned and wish to help you truly, others will look for ways to defraud you of your Bitcoins.
As you can expect, this isn't ideal - especially if you have a problem with your wallet that you can't manage to address on your own.
Bitcoin.com offers several trading updates on its platform with which customers can stay well-informed about the latest trading practices.
Bitcoin.com is not a bad option when it comes to buying, selling, or storing cryptocurrencies. The wallet has problems ranging from a limited number of security-enhancing features to the fact that it only holds two cryptocurrencies. However, most of its customers think it is unquestionably one of the best and easiest-to-use Bitcoin wallets available.