Bitprime Gold Review – Is it Scam? – Trade Bitcoin and Crypto
The world of cryptocurrencies and Bitcoin is growing at an unprecedented pace. With their increasing popularity, trading platforms that allow users to buy and sell digital assets have become essential. Bitprime Gold is one such platform that has gained significant traction. In this article, we will provide an overview of Bitprime Gold, its advantages and disadvantages, and its regulatory compliance to answer the question of whether it is a scam or not.
What is Bitprime Gold?
Bitprime Gold is a trading platform that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The platform was launched in 2017 and is based in New Zealand. Bitprime Gold offers a user-friendly interface and a host of features to make trading seamless. The platform is accessible to users in New Zealand and Australia.
Advantages and disadvantages of using Bitprime Gold
Bitprime Gold has several advantages, including:
- User-friendly interface: Bitprime Gold has a simple and intuitive interface that makes it easy to navigate and trade.
- Low fees: Bitprime Gold charges low trading fees, making it an affordable platform for traders.
- High liquidity: Bitprime Gold has a high trading volume, ensuring that users can buy and sell cryptocurrencies quickly.
- Security: Bitprime Gold has robust security measures in place to protect users' funds and personal information.
However, the platform has a few downsides, including:
- Limited availability: Bitprime Gold is only available to users in New Zealand and Australia.
- Limited cryptocurrencies: Bitprime Gold supports a limited number of cryptocurrencies compared to other platforms.
Comparison with other trading platforms
Bitprime Gold competes with other trading platforms such as Coinbase, Binance, and Kraken. Compared to these platforms, Bitprime Gold has lower trading fees, making it a more affordable option. However, Bitprime Gold supports fewer cryptocurrencies than its competitors, which may be a deal-breaker for some traders.
Is Bitprime Gold Legit?
Regulatory compliance is critical when it comes to trading platforms. Bitprime Gold is a legitimate platform that is fully compliant with New Zealand's regulatory requirements. The platform is registered with the New Zealand Financial Service Providers Register (FSPR) and is supervised by the Financial Markets Authority (FMA). Bitprime Gold also complies with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.
Verification of user identity
To ensure regulatory compliance, Bitprime Gold requires users to verify their identity before trading. Users must provide a valid ID, proof of address, and a selfie to verify their identity. The verification process is quick and straightforward and takes less than 24 hours.
Security measures in place
Bitprime Gold takes security seriously and has implemented several measures to protect users' funds and personal information. The platform uses two-factor authentication (2FA) and SSL encryption to secure user accounts. Bitprime Gold also keeps the majority of users' funds in cold storage, ensuring that they are safe from hacking attempts.
User reviews and ratings
User reviews and ratings are a good way to gauge the legitimacy of a trading platform. Bitprime Gold has received positive reviews from users, with many praising the platform's ease of use, low fees, and excellent customer support.
How to Sign Up for Bitprime Gold
Signing up for Bitprime Gold is a straightforward process. Follow these steps:
- Go to the Bitprime Gold website and click on the sign-up button.
- Enter your email address and create a password.
- Verify your email address by clicking on the link sent to your inbox.
- Complete the KYC verification process by providing your ID, proof of address, and a selfie.
- Fund your account using one of the available payment methods.
- Start trading.
To verify your identity, you will need to provide a valid ID, proof of address, and a selfie. The verification process takes less than 24 hours.
Funding and withdrawal options
Bitprime Gold supports several payment methods, including bank transfers, credit and debit cards, and POLi payments. Withdrawals are processed within 24 hours, and there are no withdrawal fees.
Account types available
Bitprime Gold offers two account types: individual and corporate. The individual account is suitable for personal use, while the corporate account is designed for businesses.
Trading on Bitprime Gold
Bitprime Gold offers several trading options, including spot trading and margin trading. The platform also has a simple buy and sell interface, making it easy to trade.
How to place buy and sell orders
To place a buy or sell order, follow these steps:
- Log in to your Bitprime Gold account.
- Click on the buy or sell button.
- Enter the amount of cryptocurrency you want to buy or sell.
- Confirm your order.
Trading fees and charges
Bitprime Gold charges a flat fee of 0.5% per trade. There are no deposit or withdrawal fees.
Margin trading options
Bitprime Gold offers margin trading, allowing users to trade with leverage. The platform offers up to 5x leverage.
Bitprime Gold supports a limited number of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, the platform is continually adding new cryptocurrencies to its offering.
Trading volume and liquidity
Bitprime Gold has a high trading volume and liquidity, ensuring that users can buy and sell cryptocurrencies quickly.
Bitprime Gold Mobile App
Bitprime Gold has a mobile app that is available for both Android and iOS devices. The app offers all the features available on the desktop version, making trading on the go easy.
The Bitprime Gold mobile app offers several features, including:
- Buy and sell cryptocurrencies
- View real-time market data
- Set price alerts
- Deposit and withdraw funds
How to download and use the mobile app
To download and use the Bitprime Gold mobile app, follow these steps:
- Go to the App Store or Google Play Store and search for Bitprime Gold.
- Download and install the app.
- Log in to your Bitprime Gold account.
- Start trading.
Bitprime Gold has excellent customer support, offering several contact options, including email, phone, and live chat. The platform also has an extensive knowledge base that provides answers to common questions.
Response time and availability
Bitprime Gold's customer support team is available 24/7, and response times are quick, ensuring that users' issues are resolved promptly.
Frequently Asked Questions
What is Bitcoin?
Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for intermediaries such as banks or governments. Bitcoin operates on a blockchain, a distributed ledger that records all transactions.
What is cryptocurrency?
Cryptocurrencies are digital assets that use cryptography to secure transactions and control the creation of new units. Cryptocurrencies operate independently of central banks and governments.
How does Bitprime Gold make money?
Bitprime Gold makes money by charging a flat fee of 0.5% per trade.
How long does it take to verify my account?
The verification process takes less than 24 hours.
What is the minimum amount I can trade on Bitprime Gold?
The minimum amount you can trade on Bitprime Gold is $10.
How secure is Bitprime Gold?
Bitprime Gold has implemented several security measures, including two-factor authentication (2FA) and SSL encryption, to protect users' funds and personal information.
How do I withdraw funds from Bitprime Gold?
To withdraw funds from Bitprime Gold, log in to your account and click on the withdrawal button. Choose the payment method you prefer, enter the amount you want to withdraw, and confirm your request.
Is Bitprime Gold available in my country?
Bitprime Gold is currently available to users in New Zealand and Australia.
Can I use Bitprime Gold without a bank account?
No, you need a bank account to use Bitprime Gold.
How does Bitprime Gold compare to other trading platforms?
Compared to other trading platforms, Bitprime Gold has lower trading fees but supports fewer cryptocurrencies.