Bitcoin Empire Review – Is it Scam? – CFDs and Real Cryptos
Bitcoin and other cryptocurrencies have been making headlines in recent years due to their potential as an investment tool. With the rise of cryptocurrency exchanges and trading platforms, more people are now able to invest in this emerging asset class. In this article, we will be discussing Bitcoin Empire, a trading platform that offers the opportunity to trade both CFDs and real cryptocurrencies. Our goal is to provide readers with a comprehensive overview of Bitcoin Empire, its features, benefits, and drawbacks, and to determine whether it is a legitimate platform or a scam.
What is Bitcoin Empire?
Bitcoin Empire is a trading platform that allows users to trade both CFDs and real cryptocurrencies. It was founded in 2019 and is based in the United Kingdom. The platform offers users access to over 70 different financial instruments, including Bitcoin, Ethereum, Litecoin, and Ripple, as well as traditional assets such as stocks, commodities, and indices.
How it works
To use Bitcoin Empire, users must first create an account and make a deposit. Once the deposit has been made, users can begin trading on the platform using either CFDs or real cryptocurrencies. CFDs, or Contracts for Difference, are financial instruments that allow traders to speculate on the price movements of an underlying asset without actually owning the asset. Real cryptocurrencies, on the other hand, involve buying and selling actual units of the cryptocurrency.
Features and benefits
One of the main features of Bitcoin Empire is its user-friendly trading platform, which is easy to use and navigate. The platform also offers access to a wide range of financial instruments, including both cryptocurrencies and traditional assets. Additionally, Bitcoin Empire provides users with real-time market data, educational resources, and a range of different account types to choose from.
Bitcoin Empire CFDs
CFDs are a popular way to trade cryptocurrencies because they allow traders to speculate on the price movements of an underlying asset without actually owning it. This means that traders can profit from both rising and falling prices, as well as use leverage to amplify their profits. However, CFDs also come with risks, including the potential for significant losses and the possibility of being subject to margin calls.
Pros and cons of CFDs
- Access to a wide range of financial instruments
- Ability to profit from both rising and falling prices
- Potential for leverage to amplify profits
- High risk of significant losses
- Possibility of being subject to margin calls
- Can be confusing for beginners
How Bitcoin Empire uses CFDs
Bitcoin Empire uses CFDs as one of its main trading instruments. This allows users to speculate on the price movements of cryptocurrencies without actually owning them. The platform also offers leverage, which can be used to amplify profits, but also increases the risk of significant losses.
Real cryptocurrencies involve buying and selling actual units of the cryptocurrency. This means that traders actually own the cryptocurrency and can store it in a digital wallet. Real cryptocurrencies are generally considered to be less risky than CFDs, but also offer less potential for leverage and profit.
Pros and cons of real cryptos
- Traders actually own the cryptocurrency
- Can be stored in a digital wallet
- Generally less risky than CFDs
- Less potential for leverage and profit
- Can be confusing for beginners
- Requires more technical knowledge to manage a digital wallet
How Bitcoin Empire uses real cryptos
In addition to CFDs, Bitcoin Empire also allows users to trade real cryptocurrencies. This means that traders can buy and sell actual units of the cryptocurrency and store them in a digital wallet. However, this also means that traders are subject to the risks and challenges associated with managing a digital wallet.
Bitcoin Empire Trading Platform
The Bitcoin Empire trading platform is user-friendly and easy to navigate. It offers real-time market data, educational resources, and a range of different account types to choose from. The platform also offers a demo account, which allows users to practice trading without risking real money.
Features and benefits
Some of the key features of the Bitcoin Empire trading platform include:
- User-friendly interface
- Real-time market data
- Educational resources
- Range of different account types to choose from
- Demo account for practice trading
How to use the platform
To use the Bitcoin Empire trading platform, users must first create an account and make a deposit. Once the deposit has been made, users can begin trading on the platform using either CFDs or real cryptocurrencies. The platform allows users to set stop-loss and take-profit orders, as well as use leverage to amplify their profits.
Bitcoin Empire Account Types
Bitcoin Empire offers three different account types: Basic, Gold, and Platinum. Each account type comes with its own features and benefits, and the minimum deposit required varies depending on the account type.
Explanation of the different account types
- Minimum deposit of £250
- Access to over 70 financial instruments
- 24-hour customer support
- Minimum deposit of £5,000
- All Basic features
- Dedicated account manager
- Trading signals
- Access to exclusive webinars
- Minimum deposit of £20,000
- All Gold features
- Personalized trading strategies
- Priority customer support
- Access to exclusive events
Which account type is best for you
The best account type for you will depend on your trading experience, financial goals, and risk tolerance. If you are new to trading or have a lower risk tolerance, the Basic account may be a good option. If you have more experience and are comfortable with higher risk, the Gold or Platinum accounts may be a better fit.
Bitcoin Empire Fees and Charges
Like most trading platforms, Bitcoin Empire charges fees for its services. These fees can include spreads, commissions, and overnight financing charges.
Explanation of the fees and charges
- The difference between the buying and selling price of an asset
- Charged on each trade
- Charged on CFD trades
- Usually a percentage of the trade value
Overnight financing charges:
- Charged for holding a position overnight
- Can vary depending on the asset and account type
How they compare to other platforms
Bitcoin Empire's fees and charges are generally competitive with other trading platforms. However, it is important to compare fees and charges across different platforms to ensure that you are getting the best deal.
Tips for minimizing fees
Some tips for minimizing fees on the Bitcoin Empire platform include:
- Choosing the right account type based on your trading style and goals
- Using limit orders to avoid paying large spreads
- Avoiding holding positions overnight to minimize overnight financing charges
Is Bitcoin Empire a Scam?
One of the most common questions that people have about Bitcoin Empire is whether it is a legitimate platform or a scam. While there have been some accusations of Bitcoin Empire being a scam, there is no evidence to support these claims.
Discussion of common scam accusations
Some of the most common scam accusations against Bitcoin Empire include:
- High-pressure sales tactics
- Poor customer service
- Difficulty withdrawing funds
Evidence for and against scam claims
While there have been some complaints about Bitcoin Empire's customer service and withdrawal process, there is no evidence to suggest that the platform is a scam. Additionally, the platform is regulated by the Financial Conduct Authority (FCA), which provides an additional layer of protection for users.
Conclusion on whether Bitcoin Empire is a scam
Based on our research, we do not believe that Bitcoin Empire is a scam. While there have been some complaints about the platform, these are not uncommon for trading platforms in general. Additionally, the fact that the platform is regulated by the FCA provides an additional layer of security for users.
Customer Support and User Experience
Bitcoin Empire offers 24-hour customer support via phone, email, and live chat. The platform also has a range of educational resources, including trading guides, webinars, and market analysis.
User experience on the platform
Overall, the user experience on the Bitcoin Empire platform is positive. The trading platform is user-friendly and easy to navigate, and the range of financial instruments and account types provides users with plenty of options.
Reviews from other users
While there are some negative reviews of Bitcoin Empire online, the majority of reviews are positive. Users generally praise the platform's user-friendly interface, range of financial instruments, and customer support.
Bitcoin Empire is a legitimate trading platform that offers users the opportunity to trade both CFDs and real cryptocurrencies. While there are some risks associated with trading on the platform, these are common for trading platforms in general. Overall, we believe that Bitcoin Empire is a good option for those looking to trade cryptocurrencies and other financial instruments.
What is the minimum deposit required to use Bitcoin Empire?
The minimum deposit required to use Bitcoin Empire varies depending on the account type. The Basic account requires a minimum deposit of £250, the Gold account requires a minimum deposit of £5,000, and the Platinum account requires a minimum deposit of £20,000.
Can I withdraw my funds at any time?
Yes, you can withdraw your funds from Bitcoin Empire at any time. However, withdrawals may be subject to fees and charges.
How long does it take to process a withdrawal?
The time it takes to process a withdrawal on Bitcoin Empire can vary depending on the payment method used. Bank transfers can take up to 5 business days, while credit card withdrawals may be processed within 1-3 business days.
Is Bitcoin Empire regulated?
Yes, Bitcoin Empire is regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
What are the risks of trading with Bitcoin Empire?