Bithoven Exchange Review 2019 – How Safe and Legit Is This New Crypto Exchange?

Bithoven is a new crypto-to-crypto exchange that is gaining momentum in the recent months. It offers a wide range of trading tools, charts and security features which in combination with its stellar customer support makes a it a serious challenger for the incumbent, established names like Bittrex or Binance.

8.5 Total Score
New exchange but looking very good so far

Ease of use
9
Customer support
9
Fees
8
Reputation
7.5
PROS
  • Ability to withdraw up to 2 BTC per day/100BC per day (for verified users)
  • A wide and ever-growing variety of available coins for trading, including BTC, ETH, LTC, BCC, OMG, IOTA, ICN, MCO, SALT, KNC, IOTA etc.
  • Fast and non-stop customer support
  • Fast deposit/withdrawal times
  • Two-factor account authentication
  • Promotional offers and discounts for traders
  • Never hacked (so far)
CONS
  • New company
  • No fiat deposits
User Rating: 5 (2 votes)

Available Cryptocurrencies

Almost every relevant cryptocoin from Coinmarketcap is already listed on Bithoven with new ones, worth of your attention, being added regularly. Bithoven supports all major coins and almost all ERC-20 tokens that have any liquidity and interest from the market.

Fees

Fees are fixed to 0.2% per trade which is around industry average.

How to Buy Bitcoin with Bithoven?

You can not buy bitcoin for fiat on Bithoven as it is only a crypto-crypto exchange platform. Once you buy your bitcoin on some other exchange or P2P platform (see here how and where you can do it), you can send it over to Bithoven. The process is fairly easy, especially if you already have experience in using any crypto exchange.


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Once you log in to Bithoven, you are sent directly to your balances page where you have an overview of all coins you own.

bithoven balances

By clicking on the „deposit“ button, you are prompted to generate new wallet address. By clicking on „Generate Address“ button you get a new address which you can then use to send your bitcoins (or other coins that you bought on Coinbase, Cex.io or somewhere else) to Bithoven.

bithoven generate address

How to Make a Trade on Bithoven?

Trading on Bithoven is very easy thanks to the simplistic and very intuitive interface that is very similar to other top exchanges, so you will have no trouble getting used to it. Once you log in and get sent over to balance page, in the right upper corner appears a big green button labeled „Trade“. Once you click on it, you will land on the bithoven’s trading interface.

bithoven trade button

One of the nice, distinctive touches on Bithoven is their charting interface where you can choose between native Bithoven and TradingView, the leading charting software engine that powers up almost all major charting tools across the financial markets.

Read our comprehensive guide on best cryptocurrency exchanges.

Another quirk Bithoven offers is fully customizable interface where you can move different feature boxes around to fit your liking.

bithoven trading interface

The interface is split into boxes, just like with other exchanges: on top you have charting interface to the left, trading pair on the right. Next scrolling window contains the buy and sell boxes, with all the options (limit and market buys and sells, stop order) and open orders windos.

Next scroll brings us to the current open buy and sell orders. And finally, last scroll enables us to see the buy and sell walls along with the most recent executed orders.

Customer Support

This is probably one of the major advantages of Bithoven over other exchanges – their customer support is very quick and can be reaced via direct chat or standard email correspondence. Customer support is live 7 days a week with their chat support option responding to your questions within minutes (most of the time), so that is another advantage over the rest of the exchange landscape.

Company Trust

The company is new and doesn’t have any established reputation, which is the greatest drawback of the otherwise great exchange. Considering all the scams and fraudulent cases swirling around crypto industry, customers are wary of new and less known companies.

However, time is on Bithoven’s side – barring major hacks or frauds, they will have a solid reputation in no time.

Transfer Limits

Depending on your account level, you can transfer 2BTC (for non verified accounts) or 100 BTC for the full verified, KYC-ed accounts.

How Secure is Bithoven platform?

The platform is up to par with the best of the best, implementing all best practices and security measures like 2FA, full encryption for all data transactions, automatic logouts after inactivity etc.

Promo actions

Bithoven is building their name with a slew of promotions where they giveaway different cryptocurrencies – right now, they are doing a giveaway of the legendary meme coin, Doge. The only condition to receive your 100 Doge is to register – yes, every new, unique registration gets 100 Doge tokens.

Conclusion

Thought by the bitter experience of hacks, frauds, scams and regulatory clamp downs, crypto users are rather skeptical when it comes to new products or platforms in crypto industry. Bithoven will need to fight through the stigma their business model is stamped with thanks to the misdealings of others. If the morning shows the day, Bithoven stands a good chance of giving Binance & co a run for their money and establishing itself as the new go-to exchange  

 

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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