Is Bitcoiva a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Bitcoiva is a good crypto exchange to start trading with. In this article you will learn whether Bitcoiva is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Bitcoiva
The Bitcoiva exchange is a platform for spot trading with cryptocurrency-to-cryptocurrency and cryptocurrency-to-fiat pairs. There is also an integrated direct purchase service of cryptocurrency for fiats as well as a quick assets exchange service on the platform. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Bitcoin Cash, and other popular cryptocurrencies and coins are traded on the exchange. Only Indian rupees (INR) are represented in the range of fiats. The exchange has a single-tier referral program with bonus payments to the client and the invitee. There is no investment program yet, but Bitcoiva plans to launch a staking program soon. Trade commissions are fixed and don’t depend on the trade volumes but are distinguished by assets. Commissions are 0.25% on average for maker and taker.
| 💰 Account currency: | Cryptocurrencies, INR |
| 🚀 Minimum deposit: | ₿0.0001 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, Indian rupee |
| 💹 Margin Call / Stop Out: | No |
Bitcoiva Pros and Cons
👍 Advantages of trading with Bitcoiva:
•you can trade all the most popular cryptocurrencies and coins on the exchange;
•there are no restrictions on trading strategies or significant limits;
•no deposit fees; trading commissions are on market average;
•a profitable referral program with beneficial bonuses;
•high level of protection for users’ funds;
•simple and convenient trading terminal interface in browser;
•the exchange offers mobile trading on iOS and Android;
•in addition to spot trading, there is instant exchange and purchase;
•a wide selection of deposit and withdrawal methods;
👎 Disadvantages of Bitcoiva:
•only Indian rupees are represented as fiat.
•no demo accounts for training;
•the exchange is young, there are no detailed statistics.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Bitcoiva Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Bitcoiva offers traders the following conditions.
| 💻 Trading platform: | TradingView terminal |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, INR |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | ₿0.0001 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, Indian rupee |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | n/a |
| ⭐ Trading features: | A lot of cryptocurrencies and coins, only INR from fiat, non-standard referral program, staking is planned, the exchange is easy to learn, average commissions |
| 🎁 Contests and bonuses: | n/a |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Bitcoiva commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Fixed commissions for trade transactions are one of the features of the exchange. They do not depend on the trading volume. A novice trader and a trader who has been actively trading on the site since its foundation has equal terms for fees. Also, the fee doesn’t differ for the taker and the maker, which is atypical for cryptocurrency exchanges. The only factor that affects the commission is the basic asset in the pair. For example, the commission is 0.25% for BTC/USDT and BTC/INR.
The commissions in the exchange service are different from the exchange commissions. For most pairs, they are 1%. For some pairs, commissions are increased up to 3%: for example, for BDX/USDT, BDX/BTC, BDX/INR. The fees are the same for pairs with fiat. Peer-to-peer trading has its own commission terms. Find more in the "Fees" section on the exchange website.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.25% per application | Yes |
Investment programs of Bitcoiva
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Bitcoiva offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
Bitcoiva doesn’t offer investment solutions at the moment, but it has already been announced. This year, the website is going to introduce a staking system so that exchange clients can loan their funds to third-party blockchain projects, with interest accrued on the amount deposited. If you are interested in investing, subscribe to the exchange's newsletter on social networks.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Bitcoiva’s affiliate programs:
The cryptocurrency exchange offers a non-standard referral program. It is one-level. That is, you can get bonuses only for users whom you invited to the site. You don’t have access to payments for users invited to the website by your referrals. The referral status is unlimited and it constantly brings bonuses to the invitee while trading on the site.
To participate in the program, open your personal account, find a referral link in the corresponding section. Copy it and share by any means, for example, in personal correspondence, through social networks, and forums. Each user who registers on the exchange by clicking on this link automatically becomes your referral. All information on referrals and payments for them shall be displayed in the personal account.
The amount of payments depends on the VIP referral status. There are 4 levels of status, and they differ by the following indicators:
VIP1 – payments 50%, the requirement is to trade volume from ₿100 in 30 days.
VIP2 – payments 60%, the requirement is to trade volume from ₿300 in 30 days.
VIP3 – payments 70%, the requirement is to trade volume from ₿500 in 30 days.
VIP4 – payments 100%, the requirement is to trade volume from ₿1000 in 30 days.
Please note that this is not a percentage of commission fees (as on other exchanges). And this is the percentage of the referral's total income. It is like the final bonus and calculated according to a special formula. Find more in the "Referral Program" section on the official website of the exchange.
Conclusion. Is Bitcoiva good for beginners?
The Bitcoiva cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Bitcoiva could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.