Review on Bitcoiva by Stephen Toluwani
Bitcoiva is still New and needs to establish it's reliability
A new exchange platform, Butcoiva is still very new to the trading markets and has established a presence amongst it's local market, that is, India. I could see the surging volumes which means interest into using the exchange keeps rising. In my view, the reason for this is because of the referral program the exchange platform has out into place. I don't really see much from the exchange presently, and with the rising rates of exchange platforms performing an exit-scam, I will rather steer clear of the platform pending it's makeover on reliability. The exchange although has shown huge progress the past few days that it has been in existence, launched a mobile app for easy access etc. I also like the various products they offer like the flexible savings and lending platform. As for being regulated, I can't say to that regards and with no insurance cover being displayed or fund security deposit into cold wallets, I do not find this exchange as my platform for my
Pros
- Bitcoiva is strategically placed to serve the Indian community thereby offering them options that makes Crypto trading via it's platform easy for them
- Bitcoiva supports both spot market trading and quick swap options
- There is an interesting referral program that offers 1000 BTT to new users who used a referral link, also a 25% commission on trading fees implies
- Bitcoiva has a savings landing page for users to lend their coins and tokens for a reward
- Bitcoiva also supports a P2P landing page wherein they do not act as a middleman and incurs no charges
- Bitcoiva promotes users security by placing a good security setup via 2FA
Cons
- The Indian Rupees is the only supported fiat
- It's still a relatively new exchange, and with many new exchanges going into non-existence after sometime, I will advice keeping small funds pending it's reliability
- 0.25% maker and taker fees for every trade, I consider that costly
- Being an antagonist to KYC verifications, Bitcoiva doesn't suit me as KYC is the first requirement to use the platform
- There is no much information related to fund security or insurance cover
New products
Comments (1)
January 25, 2021
Thanks for your update on the exchange, the 0.25% fee is actually in lune with the Industry average fee, as for me i Also dont like the KYC although some authors Describe it as fast. I beleive that the tendecy of an exit scam is very low
