Bitvalex

Overview of Bitvalex

Bitvalex is a virtual currency exchange based in Bulgaria. It was founded in 2018 and it offers trading in major cryptocurrencies including Bitcoin, Ethereum, Litecoin, and XRP against the Euro and US Dollar. Bitvalex provides a user-friendly and secure platform for retail and institutional investors with bank-grade encryption and cold storage. The exchange has partnered with Onfido to implement strict know-your-customer (KYC) and anti-money laundering (AML) regulations. Bitvalex is registered as a licensed provider of crypto-fiat exchange services under MTR. The exchange boasts fast transaction speeds, 24/7 live chat support, and some of the lowest trading fees in the industry.

Pros and cons

Pros:

- Wide range of cryptocurrencies available: Bitvalex offers users more than 30 different cryptocurrencies to trade, providing a diverse range of options for investors.

- Diverse payment methods accepted: Bitvalex accepts various payment methods, including bank transfers, Visa, Mastercard, Skrill, Neteller, and Payeer, offering flexibility and convenience for users.

- 24/7 customer support: Bitvalex provides round-the-clock customer support via phone, email, and live chat, ensuring that users can receive assistance at any time.

Cons:

- Fees vary depending on transaction type: The fees charged by Bitvalex can vary depending on the type of transaction, making it important for users to check the website for detailed information. This variability could potentially result in higher fees for certain transactions.

- No information on security measures: Bitvalex does not provide specific information about their security measures, which may be a concern for users who prioritize security and want to have a clear understanding of the measures in place to protect their funds.

- No information on trading volume and liquidity: Bitvalex does not disclose information about their trading volume and liquidity, which may be important for users who want to assess the exchange's market depth and liquidity before trading.

Regulatory Authority

Security

Bitvalex prioritizes the security of its platform by implementing several protection measures, including:

• Secure cryptocurrency storage : Funds are held in cold storage offline wallets to prevent hacking. Private keys are distributed geographically to minimize risk.

• User account security: Two-factor authentication and email verification required for account access. Options for IP whitelisting and address whitelisting.

• Transaction validation: Transactions verified through blockchain nodes before execution to prevent spoofing.

• DDoS protection : Use of services to filter and scrub all traffic to the platform to prevent DDoS attacks.

• Data encryption : User data, communications and sensitive information encrypted both in transit and at rest.

• Security audits : Independent third-party audits conducted regularly to assess and test security systems and procedures.

Cryptocurrencies Available

Bitvalex offers users a wide range of cryptocurrencies to trade with, including more than 30 options. Users can buy, sell, and exchange various cryptocurrencies on the platform. In addition to cryptocurrency trading, Bitvalex also provides services for bank transfers, allowing users to deposit and withdraw funds with ease.



How to open an account？

The registration process of Bitvalex is as follows:

1. Visit the Bitvalex website and click on the “Sign Up” button.

2. Fill in the required personal information, including your full name, email address, password, and phone number.

3. Agree to the terms and conditions of Bitvalex and confirm that you are at least 18 years old.

4. Verify your email address by clicking on the verification link sent to your inbox.

5. Complete the KYC (Know Your Customer) process by providing a copy of your ID or passport and proof of address.

6. Once your documents are verified, you will be able to access the full features of Bitvalex and start trading cryptocurrencies.

Fees:

Bitvalex charges a maker fee of 0.1% and a taker fee of 0.5% on trades.

Fee	Rate
Maker	0.10%
Taker	0.50%

Payment Methods

Bitvalex accepts various payment methods, including bank transfers, Visa, Mastercard, Skrill, Neteller, and Payeer.

Deposit:

Method	Charges	Processing Time
SEPA Bank Transfer	EUR 1	1-2 days
WIRE/SWIFT Transfer	EUR/USD 35 + 0.4% of transferred amount	Up to 5 days
Visa/MasterCard	3.2% of transferred amount	Instant
AdvCash	3% of transferred amount	Instant

Withdrawal:

Method	Charges	Processing Time
SEPA Bank Transfer	EUR 10	1-2 days
WIRE/SWIFT Transfer	EUR/USD 35	Up to 5 days
Visa/MasterCard	1%	Instant
AdvCash	Free	Instant

Educational Resources

Bitvalex's Educational Resources are as below:

• Guides and Blogs: Bitvalex provides a range of blogs, how-to guides, and basic information about cryptocurrencies.

• Videos: They connect users to the Coinmarketcap YouTube channel, offering visual learning resources.

Interactive Learning: The “Earn” section allows users to acquire crypto assets in a fun and low-risk manner by taking lessons and testing their knowledge.

• External Resources: Bitvalex also suggests external platforms like Coinmarketcap, Coindesk, and Binance Academy for comprehensive learning. These platforms cover a wide range of topics, from beginner to expert levels, and explore themes like Bitcoin, Ethereum, DeFi, NFTs, and more.



Is Bitvalex a Good Exchange for You？

Bitvalex is a cryptocurrency exchange that can be suitable for a diverse range of traders, including:

1. Cryptocurrency enthusiasts who want a wide range of cryptocurrencies to trade.

2. Experienced traders who want convenience and accessibility, such as a variety of payment methods and 24/7 customer support.

3. International traders who want to trade in different fiat currencies and have the flexibility of using different payment platforms.

4. Security-conscious traders who conduct their own research and due diligence on the exchange's security measures.

5. Traders who want the convenience of using a single platform for both cryptocurrency transactions and traditional banking activities.

6. Traders who require immediate assistance or have inquiries outside of regular business hours.

Overall, Bitvalex is a versatile exchange that can meet the needs of a variety of traders.

Conclusion

In conclusion, Bitvalex is a virtual currency exchange based in Bulgaria that offers a wide range of cryptocurrencies for trading, with more than 30 options available. They accept diverse payment methods and provide 24/7 customer support, offering convenience and accessibility to users.

FAQs

Q: What are the minimum deposit and withdrawal limits for cryptocurrencies？

A: The minimum deposit and withdrawal limits for cryptocurrencies vary depending on the cryptocurrency. For example, the minimum deposit for BTC is 0.0001 BTC, and the minimum withdrawal is 0.001 BTC.

Q: What are the levels of KYC verification on Bitvalex？

A: There are three levels: unverified, verified, and corporate. Unverified users can only deal with cryptocurrencies, while verified users can handle fiat transactions. Corporate accounts have additional privileges.

Q: What is the Bitvalex Merchant Payment Gateway？

A: Bitvalex will soon provide a blockchain-based payment service allowing merchants to accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The integration is facilitated through the Bitvalex API.

Q: How does the Bitvalex wallet function？

A: Bitvalex offers an integrated fiat wallet allowing users to manage both digital assets and fiat currencies like EUR or USD. The wallet uses both hot and cold storage, and it's crucial to ensure the correct deposit address is used.

Q: What is the Bitvalex Debit Card feature？

A: Bitvalex plans to offer a prepaid Mastercard that can be used globally. It can be loaded by converting digital assets into EUR and used for various transactions.

User Review

User 1: I've been using Bitvalex for a while now and I'm satisfied with their overall service. The platform has a user-friendly interface that makes it easy to navigate and execute trades. They offer a good selection of cryptocurrencies to trade with, including some lesser-known ones. Customer support is responsive and helpful, and I've never had any issues with depositing or withdrawing funds. The trading fees are reasonable compared to other exchanges I've used. However, I would appreciate more transparency about their security measures and regulatory compliance.

User 2: Bitvalex is my go-to exchange for cryptocurrency trading. One of the best things about Bitvalex is their commitment to security and privacy. They have robust security measures in place to protect user funds and personal information. I also appreciate that they are regulated by the MajandusTegevuse Register, which gives me peace of mind knowing that they operate within legal boundaries. The platform is stable and rarely experiences technical issues. The variety of cryptocurrencies available for trading is impressive, and I've never faced any liquidity problems. The customer support team is always prompt and helpful. The only downside is that their trading fees can be slightly higher compared to some other exchanges.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.