BitWorld

Overview of BitWorld

BitWorld is a United Kingdom-based company, operating as BitWorld Capital Ltd LIMITED. The platform offers various market instruments, including futures contracts on cryptocurrencies, commodities, and indices, options contracts on diverse underlying assets, margin trading with up to 5x leverage, spot trading without leverage, and swaps contracts for hedging and speculation on interest rates. BitWorld provides different account types, including Standard, Premium, and Corporate, each with varying privileges and features. The minimum deposit required to open an account is $25, and users can deposit and withdraw funds through various methods, including bank transfers, credit/debit cards, and cryptocurrency wallets.

BitWorld offers a range of trading platforms, such as spot trading for immediate purchases and sales of cryptocurrencies, futures trading for predetermined price agreements, leverage trading for amplified positions, margin trading with borrowed funds, DEFI trading for decentralized exchanges and liquidity pools, staking for earning rewards, and crypto index trading for diversified portfolio investment. The platform provides educational tools, including Learn BitWorld, BitWorld Academy, BitWorld Blog, BitWorld Forum, and BitWorld Twitter, for users interested in learning about cryptocurrency and blockchain technology. Customer support is available only through email, and user reviews on WikiFX are mixed, with some appreciating the platform's features while others raise concerns about regulation and customer support.

Pros and Cons

BitWorld, a cryptocurrency trading platform based in the United Kingdom, presents a range of advantages and drawbacks for users seeking to engage in digital asset trading. On the positive side, BitWorld offers a diverse selection of market instruments, multiple account types with distinct benefits, and the option for leverage trading up to 5x, allowing traders to potentially amplify their profits. Moreover, the platform supports various deposit and withdrawal method. Additionally, BitWorld offers a range of trading platforms, enabling traders to choose the one that aligns with their preferences and strategies. To aid users in their cryptocurrency journey, BitWorld provides educational tools for learning about digital assets and blockchain technology, as well as access to DEFI trading and CRYPTO INDEX TRADING. However, it is important to note that BitWorld operates in a regulatory environment lacking oversight and standardized guidelines, potentially exposing users to risks related to security, financial stability, and data protection. Furthermore, the platform's official site is not accessible, and there are mixed reviews from users regarding various aspects of the platform, warranting caution and thorough research before engaging in any transactions or activities on BitWorld. Additionally, limited customer support options may pose challenges for users seeking timely assistance. Lastly, charges on spreads and commissions are applicable to trades, and a minimum deposit is required for account opening.

Is BitWorld Legit？

BitWorld operates in a regulatory environment that lacks oversight and standardized guidelines. The platform's operations are not subject to official supervision, potentially exposing users to risks related to security, financial stability, and data protection. As a result, users should exercise caution and conduct thorough research before engaging in any transactions or activities on BitWorld, as the absence of regulations may leave them vulnerable to potential pitfalls.

Market Instruments

1. FUTURES:

BitWorld provides futures contracts on various underlying assets, such as cryptocurrencies (e.g., BTC/USD futures, ETH/USD futures), commodities (e.g., Gold futures), and indices (e.g., S&P 500 futures). These contracts enable traders to agree on buying or selling assets at predetermined prices on specified future dates, facilitating risk hedging and speculation.

2. OPTIONS:

BitWorld offers options contracts on diverse underlying assets, granting traders the options to buy or sell assets at predetermined prices in the future. Examples include BTC/USD call options, ETH/USD put options, Gold call options, and S&P 500 put options, offering traders more versatile strategies compared to futures contracts.

3. MARGIN TRADING:

BitWorld permits traders to engage in margin trading, leveraging their positions with less capital. This feature empowers traders to control larger positions with smaller investments, potentially amplifying profits. However, it also exposes them to higher risks, as losses can be magnified in the same manner.

4. SPOT TRADING:

BitWorld facilitates spot trading, allowing traders to purchase and sell assets at the current market price without involving leverage. This straightforward form of trading enables users to buy, for instance, 1 BTC for $10,000 and sell it at $11,000, thereby earning a $1,000 profit if the BTC price rises.

5. SWAPS:

BitWorld introduces swaps contracts, which establish agreements between two parties to exchange cash flows over a specified period. Traders can employ swaps to hedge against risk or speculate on future interest rates. For instance, entering a swap contract to exchange fixed-rate payments for floating-rate payments can result in gains if interest rates rise, leading to higher fixed payments received than the floating-rate payments made.

Account Types

STANDARD

The Standard Account is the most basic type of account offered by BitWorld. It is free to open and maintain, allowing users to store and trade various cryptocurrencies. The withdrawal limit for Standard Accounts is set at 2 BTC per day, and users are charged a trading fee of 0.2% for each transaction they make.

PREMIUM

For users seeking enhanced privileges, the Premium Account presents an appealing option. It includes a range of benefits not available to Standard Account holders. With a Premium Account, users enjoy increased withdrawal limits, allowing them to withdraw up to 10 BTC per day. Moreover, trading fees for Premium Accounts are significantly reduced, often standing at 0.1% or less. Additionally, subscribers gain access to exclusive features that elevate their overall trading experience. To obtain the Premium Account status, users are required to pay a monthly fee of $10.

CORPORATE

The Corporate Account caters specifically to businesses and organizations handling substantial amounts of cryptocurrency. It provides advanced features and services tailored to meet their unique needs. Among its advantages are multi-signature wallets, bolstering security by requiring multiple authorizations for transactions. Furthermore, Corporate Account holders receive customer support to address their concerns promptly. Additionally, they benefit from the ability to negotiate customized trading fees based on their transaction volumes. To avail these features, businesses must subscribe to the Corporate Account at a monthly cost of $100.

Pros and Cons

Leverage

BitWorld offers a maximum leverage of 5x for its margin trading platform. This means that for every $100 in your account balance, you can trade up to $500 worth of cryptocurrency. The leverage offered by BitWorld is in line with the industry standard, and it allows traders to amplify their profits with a relatively small amount of capital.

Spreads & Commissions

BitWorld charges a spread on all trades. The spread is the difference between the buy and sell price of an asset. For example, if the buy price of Bitcoin is $30,000 and the sell price is $30,001, then the spread is $1. The spread is typically a few cents for major cryptocurrencies, but it can be wider for smaller or less liquid cryptocurrencies. BitWorld also charges a commission on all trades. The commission is a flat fee that is charged per trade, regardless of the size of the trade. The commission is currently $0.10 for spot trades and $0.50 for margin trades.

Minimum Deposit

The minimum deposit for BitWorld is $25. This means that you must deposit at least $25 in order to open an account and start trading. The minimum deposit can be made in a variety of currencies, including Bitcoin, Ethereum, and Tether.

Deposit & Withdrawal

BitWorld supports a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrency wallets. The minimum deposit amount is $25, and the minimum withdrawal amount is $20. There are no fees for deposits made via bank transfers or cryptocurrency wallets, but there is a 2% fee for deposits made via credit/debit cards and a 1% fee for withdrawals made via credit/debit cards. Deposits and withdrawals via bank transfers are processed within 1-3 business days, while deposits and withdrawals via credit/debit cards and cryptocurrency wallets are processed instantly.

Pros and Cons

Trading Platforms

BitWorld offers a range of trading platforms to cater to different user preferences and needs.

One type is SPOT TRADING, where users can buy and sell cryptocurrencies at current market prices. Examples of cryptocurrencies available for spot trading on BitWorld include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), among others. Another type is FUTURES TRADING, which enables users to enter into contracts to buy or sell assets at predetermined prices on a future date. Futures trading on BitWorld covers a diverse selection of assets, including commodities like gold and oil, as well as major cryptocurrencies like Bitcoin and Ethereum.

Leverage

LEVERAGE TRADING is also available on BitWorld, allowing users to borrow funds from the platform to amplify their trading positions. This feature provides the potential for higher returns, but also increases the risk of losses. BitWorld offers leverage on various cryptocurrencies, allowing users to speculate on price movements with increased exposure. In addition to traditional trading, the platform offers MARGIN TRADING, which allows users to trade with borrowed funds, further enhancing their trading capabilities.

BitWorld also features DEFI (Decentralized Finance) TRADING, enabling users to participate in decentralized exchanges and liquidity pools. With this type of trading, users can directly interact with smart contracts to trade various tokens and participate in decentralized finance protocols. Additionally, the platform supports STAKING, where users can lock up their cryptocurrencies to earn rewards or participate in governance within certain blockchain networks.

Lastly, BitWorld facilitates CRYPTO INDEX TRADING, offering users the ability to invest in a diversified portfolio of cryptocurrencies through index funds. These indexes represent the overall performance of various cryptocurrencies, reducing the risk associated with individual assets and providing exposure to the broader crypto market.

Pros and Cons

Educational Tools

Learn BitWorld: This feature serves as a comprehensive introduction to cryptocurrency and blockchain technology. It covers various essential topics, including the history of cryptocurrency, the different types of cryptocurrencies available, and practical aspects like how to buy, sell, and trade cryptocurrencies.

BitWorld Academy: This section houses a diverse collection of video tutorials and articles that cater to users interested in cryptocurrency and blockchain technology. The tutorials are thoughtfully designed to assist users in mastering the BitWorld platform's functionalities and honing their skills in cryptocurrency trading.

BitWorld Blog: The BitWorld Blog serves as an informative platform for users seeking up-to-date news and insightful analysis concerning the cryptocurrency industry. It offers a range of articles, including tips on utilizing cryptocurrency to enhance one's financial well-being.

BitWorld Forum: The forum is an interactive space where users can engage in discussions, pose questions, and exchange knowledge about all things related to cryptocurrency. It proves especially beneficial for newcomers who wish to learn from the experiences and expertise of seasoned users on the platform.

BitWorld Twitter: This Twitter account functions as a valuable resource for staying informed about the latest news and updates concerning the BitWorld platform. Additionally, it shares tweets on cryptocurrency-related events and trends, helping users keep abreast of developments in the dynamic crypto space.

Customer Support

BitWorld's customer support is accessible solely through email at service@bitworldforex.com. The company is based at 4d Salisbury Road, Weston-Super-Mare, Somerset, United Kingdom, BS22 8EW. However, it does not provide other direct contact options, such as telephone numbers, commonly offered by most brokers for customer assistance.

Reviews

BitWorld's reviews on WikiFX are mixed. Some users appreciate the platform's cryptocurrency options and user-friendly interface, while others raise concerns about regulation, customer support, withdrawals, and transaction delays. Caution and thorough research are recommended before using BitWorld for cryptocurrency trading.

Conclusion

In conclusion, BitWorld offers a range of market instruments, including futures, options, margin trading, spot trading, and swaps, which provide traders with diverse opportunities to manage risk and speculate on asset prices. However, it's important to note that BitWorld operates in a regulatory environment without official oversight, which may pose risks related to security, financial stability, and data protection. Traders should exercise caution and conduct thorough research before engaging in any transactions on the platform. BitWorld provides different account types, such as Standard, Premium, and Corporate, each offering varying benefits and features. The platform also offers leverage trading, with a maximum leverage of 5x, allowing traders to amplify their profits but also increasing potential losses. Educational tools, like Learn BitWorld and BitWorld Academy, provide valuable resources for users interested in cryptocurrency and blockchain technology. Customer support is limited to email communication. BitWorld's reviews on WikiFX are mixed, highlighting the importance of exercising caution and due diligence when considering using the platform for cryptocurrency trading.

FAQs

Q: Is BitWorld a legitimate platform？

A: BitWorld operates in a regulatory environment without official oversight, exposing users to potential risks. Exercise caution and conduct thorough research before engaging in any transactions.

Q: What market instruments does BitWorld offer？

A: BitWorld provides futures, options, margin trading, spot trading, swaps, and decentralized finance (DeFi) trading options.

Q: What are the different account types on BitWorld？

A: BitWorld offers Standard, Premium, and Corporate accounts, each with varying features and benefits.

Q: What is the maximum leverage offered by BitWorld？

A: BitWorld offers a maximum leverage of 5x for margin trading.

Q: What are the deposit and withdrawal methods supported by BitWorld？

A: BitWorld supports bank transfers, credit/debit cards, and cryptocurrency wallets for deposits and withdrawals.

Q: What educational tools does BitWorld provide？

A: BitWorld offers “Learn BitWorld,” BitWorld Academy, BitWorld Blog, BitWorld Forum, and updates on BitWorld Twitter.

Q: How can I contact BitWorld's customer support？

A: BitWorld's customer support is accessible through email at service@bitworldforex.com.

Q: What do reviews say about BitWorld？

A: Reviews on WikiFX are mixed, with some praising the platform and others raising concerns about regulation and customer support. Thorough research is advised before using BitWorld.