BitSeven is a leveraged based Trading option for Bitcoin that offers between 1x and 100x Trading, An exchange to swap BTC > ETH etc, And purchase of Bitcoin, Ethereum, Litcoin and Bitcoin Cash with ease.
BitSeven boasts an almost guaranteed uptime of 100% for a successful trading experience.
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Bitseven guide (bulking)
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BitSeven does not need you to install any kind of software on your computer to enjoy its functions. Its platform is based on a 100% web scheme, thus ensuring a secure trade through any device trained and without problems regarding updates and software bugs.
One of the most outstanding features of BitSeven is the speed with which it processes the commands, which guarantees smooth and fluid transactions. The platform uses a high-tech matching engine that drives the operation of the services, making the website develop quickly, availability, tolerance to errors and many other virtues, all this including advanced matching algorithms that will allow you to have total control of your orders.
Who should be qualified to use BitSeven?
BitSeven is a cryptocurrency exchange house that is characterised by offering trading service with leverage. Once this is understood, we must know that this exchange is suitable specifically for traders who want to increase their earnings through a position that allows them to meet their objectives in a short period of time.
This exchange allows its users to obtain greater profits from their real funds, regardless of whether the cryptocurrency goes up or down, depending on the position the trader has chosen. Because of this, traders should take advantage of the market situation to achieve profitability in the rapid and volatile fluctuations of prices, in the short term.
The main advantage of this broker is clear and we have explained it before: leverage, which in the case of the cryptocurrency market is unique.
It is difficult to get another broker in this market that offers a leveraged service as advantageous as BitSeven does, which is why users have a certain preference with this platform. It should be noted that leverage can be a double-edged sword, so as in websites like BitMEX, it is recommended to be managed by people with trading experience. It is an exchange for those who feel attracted by strong emotions and adrenaline situations because as we could earn a lot of money, we could also lose it, therefore, we must learn to operate the winning team to counteract the margins of loss. Altsignals turns out to be perfect to extract the data and signals that you will need to carry out a successful trade.
Another thing to emphasise is the flexibility in the deposit since we can do it from a minimum amount of Bitcoin that is rather symbolic, so it is an accessible broker for all the portfolios.
As for the cryptocurrencies that we can negotiate, they are few, but in the case of trading, we should think that a specialised broker is better than one with too many assets and poor trading conditions.
The customer service (although it used to work wonders) has been reported to be slow in response times since the platform returned to provide its services, after its temporary closure.
BitSeven Commission Rates
To make deposits and withdrawals to, or from the wallet offered by the exchange, the commission is 0, however, to position orders and opening
new trades, the platform charges fees based on transaction percentages.
For trading, BitSeven charges the following percentages:
Bitcoin Cash: 0.195%
In addition, an extra house exchange fee of 0.19% will have to be paid.
Trading is done with TradingView technology, the most popular platform in the cryptocurrency markets, which helps users feel more confident in making personal investments in the exchange.
Preferably for BitSeven members and readers, the platform has a personalised blog for news, tips and announcements related to the cryptocurrency market. It is available in 6 different languages, among which are English, Russian, Vietnamese, Polish, Japanese and French, in order to facilitate the understanding of the content to its users.
The blog has a design similar to the BitSeven platform. It shows a dash where the writers position the most outstanding news of the day and on the right side of the blog, the most recent publications that have been made on the website are listed.
Because the broker was suspended for a while, the content is certainly discontinued, however, it is only a matter of time now that is active again for users to continue being part of the blog and uploading news related to the market flow.
WHY TRADE LEVERAGE?
Leveraged trading can be used as a hedge against the risk of your investment diminishing if you fall into the negative. This is usually considered "High-Risk Trading" But the potential for profit also skyrockets!
With leveraged trading, you are buying into a contract instead of OWNING the asset, but that means you are trading at 1x/5x/10x/25x/50x/75x/100x the value of your purchase. So, If you entered a trade with 1 BTC with 10x leverage, you are trading with 10 BTC. This means that when you are trading, the fluctuations of the asset makes a lot higher % profit/loss.
You can see the effects of the bull market on investors and mining profitability on our blog here.
PROS AND CONS OF BITSEVEN
⦁ Easy to understand trading platform
⦁ Low Fees
⦁ Leverage upto 100x
⦁ 24/7 instant withdrawals
⦁ USA Can signup, unlike BitMex
⦁ Easy to setup Anti-Liquidation to avoid being liquidated! (Read end of article)
⦁ Prices show in USD too
⦁ No Downtime unlike BitMex!
⦁ Newish company, however, 1.1m Registered users.
⦁ No Fiat trading
⦁ No super advanced order types.
HOW TO DEPOSIT WITH BITSEVEN
Depositing with BitSeven has never been easier. Once logged in, Navigate to the Green Deposit button on the top right corner of your screen, This will lead you to a page where you can fund your account. (SEE BELOW)
Currently, Only Bitcoin is supported to deposit on BitSeven, but you can easily exchange between BTC / ETH / LTC / XRP, But we'll explain that later!
On this screen you can find your unique deposit address, which you can use to fund your BitSeven account. (Make sure to send BITCOIN and BITCOIN ONLY)
The minimum deposit on BitSeven is 0.001 BTC, However as soon as the funds have registered as sent, they will be available to trade! (Usually instant!)
HOW TO EXCHANGE WITH BITSEVEN
BitSeven offers a small exchange where you are able to exchange BitCoin to other coins that are all tradable on the exchange! The 3 coins currently offered are Ethereum, LiteCoin and Ripple. Pictured below is the Exchange dashboard. Just remember, That if you would like to withdraw your coins, they'd need to be back exchanged to Bitcoin!
HOW TO WITHDRAW FROM BITSEVEN
BitSeven's withdrawals are also super easy to get your head around! To withdraw, simply navigate to the "Withdraw" tab on the right hand side of your screen. (Pictured below)
From here, you are able to enter your "Destination address" where you wish you to withdraw too and withdraw your Bitcoin! (Remember, Only BITCOIN can be withdrawn!) The network fee is set to 0.001 BTC which cannot be changed, But the fee is high enough to ensure that when you withdraw you will receive your coins to your destination address quickly! The maximum daily withdrawal on the site is set to 10 BTC.
HOW TO PLACE A TRADE ON BITSEVEN
BitSeven offers lightning-fast execution with leveraged trading upto a 100x margin.
The maximum leverages you can trade on BitSeven are as follows;
BTC - 100x
ETH - 50x
LTC - 40x
XRP - 30x
These are some of the highest leverages offered over any network!
You are able to trade on a mobile phone or tablet with no need to download any apps, as their site is already optimized for mobile browser usage.
Below I will show you how to start your first trade with BitSeven;
Pictured here is the dashboard for placing a trade, Here you can choose how much you would like to purchase with "Amount", Choose wether you would like to buy "UP / LONG" Or "DOWN / SHORT" (Up means you believe the asset will rise in value, Down meaning it will fall. Your profits will reflect which way it moves) And what leverage you would like to take!
Once you have placed your trade, it will enter your positions. (Pictured below)
Here, you can see your buy in price, the leverage what you are trading at and most importantly your liquidation ("Cut a loss") And Unrealised PNL (Profit / Loss)
Liquidation is the point at which your stock has dropped so much in loss that it will autosell. In the next section I will explain how we avoid this, So read carefully!
From the positions page, You are able to "Sell (Limit)" Which allows you to choose at what value you would like to sell your asset or "Sell (Market)" Which we call the panic-button! Market sell will instantly sell your asset at market value, this can sometimes be lower than what you anticipated, meaning that this button should only be pressed when tides are turning in the wrong direction and there is nothing you can do to get out of your position.
HOW TO AVOID LIQUIDATION ON BITSEVEN
Liquidation is the #1 reason why people are lossing income on leverage based exchanges, But here at AltSignals, we've developed an anti-liquidation system that keeps your funds safe!
When trading our BitSeven Signals, We recommend you only enter a trade with 10% of your balance, This is due to adding more of your balance through anti-liquidation.
If your trade is close to hitting your "Cut a loss" and you are trading on 100x Leverage, You will want to enter a NEW trade with 75x Leverage going in the SAME direction that you originally placed the trade, What this will do is add a a larger "Buffer zone" for you to be liquidated, increasing your "Cut a loss" and giving you more time to stay in the trade and the market to move into the other direction.
HOWEVER, This will also add another 10% into you initial trade, Meaning you are in 20% of your balance as apposed to 10%.
You can add as many anti liquidations as your balance allows to keep yourself from cutting a loss and all of your assets being sold at market value. (Meaning you will lose all of your initial investment.)
Here you can see us placing open orders for Anti-Liquidation for one of our trades that almost hit our "Cut a loss"!
Thanks for Reading
- AltSignals Team.
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