What is Cryptocurrency?
A cryptocurrency is a form of digital money created by certain algorithms with the use of encryption technologies. Such methods allow the cryptocurrency to be protected from fraud, while still be audible, i.e. transactions with cryptocurrency are publicly available to check. Cryptocurrencies are stored and sent electronically from private wallets.
How can I make a deposit on your website?
Depositing funds with us is simple and quick. Just log in, go to your account settings and click the “Make Deposit” icon. After this, you have to input relevant credit card details and click “Deposit”. Congrats, now you can start gaining profit with Royal Bitex. Please note that wire transfer deposit and deposit with alternative methods could be made with the help of your account manager.
What about withdrawals?
We try to provide the fastest withdrawals compare with our direct competitors. To make a withdrawal, simply log in, proceed to “My Account” > “Withdrawing Funds” and type the amount you want to withdraw. Please note that once your withdrawal request is approved, it will be processed and sent to the same bank or to the credit card you specified earlier. Also, you have to be aware that some banks and credit card companies may extend the processing time of payment, in particular, in the case of exchange transactions where the correspondent bank participates.
Do you have some deposit/withdrawal fees or commissions?
Royal Bitex politics don’t assume any additional fees for deposit or withdrawal.
What personal information is needed from me?
By basic AML law, we are required to verify your account by asking who you are and where you live. This process is similar to a bank account creation and requires supporting documents. All personal information is stored inside an SSL Offline Vault; we require full identification i.e. passport or driver license, proof of residence such as a utility bill not older than 6 months and the proof of ownership of the payment method used.
Why do I have to provide my personal information to trade on your platform?
Cryptocurrencies take every precaution to prevent fraud and be fully compliant with KYC and AML regulations for trading of digital assets.
How can I make the payment to get my coins?
We operate a 3D secure payment, guaranteed for your safety and security. We are able to accept Visa, MasterCard and wire transfers, as well as transfers to a crypto wallet.
Why do prices on different exchanges very so much?
This depends on a number of factors. Usually, it is due to the difficulty of getting cash in or out of an exchange. If an exchange is having difficulty with their banks, and are unable to allow customers to withdraw cash easily, this leads to more cash at the exchange looking to buy fewer cryptocurrency – this pushes up the price of cryptocurrency at that exchange as more people look to buy crypto and then send them to another exchange where they can cash out.
What is the best way to trade Cryptocurrency?
Trading in cryptocurrency, or any other financial asset, offers many opportunities. However, it can be difficult to maneuver between brokers, spreads and management fees. That is why managing your own investments based on price variances is more relevant for trading beginners.
I have some unanswered questions left. What should I do?
Please, feel free to ask anything from our support service, which can be reached via [email protected]
Why do I need to trade crypto CFDs and not just trade them directly on exchanges?
Direct buying and selling currencies is a rather tedious process. Due to a large burden on an exchange, processing time for the transactions takes a lot of time. However, CFD provides fast transactions without any jeopardy of scam.
For what purposes is CFD trading better to use, hedging or speculation?
In spite of bigger attraction of hedge, speculation is by far the most popular for CFD trading.
What instruments suit better to beginners? Indices, equities, shares, forex?
You can use whichever instrument you know better or prefer in use.
What are the minimum/maximum trade sizes?
The threshold of entry is low. The minimum for all markets is one CFD. It allows traders to start with small comparative trading risk. And the maximum for each customer is individual, each of them sets the limit he prefers.
What is margin in CFDs?
It is an effective rate for traders who have to deposit and keep a certain percentage of total transaction. Each amount of margin depends on the market and engaged broker.
How much experience do I need to have in traditional share trading to go to CFD trading?
The bigger, the better. According to Markets in Financial Instruments Directive (MiFID), all applicants for CFD are assessed on their suitability. Your previous experience can positively raise you in rating.
What are crypto pairs in CFD trading?
Besides Bitcoin, there are other popular cryptocurrencies like Ethereum, Bitcoin Cash, Ripple, etc. You can use them as pairs with each other. Moreover, you can make pairs with traditional fiat currencies such as USD and EUR. The most popular pairs are BTC/USD, ETH/USD, ETH/EUR, asf.
Why are crypto CFDs the best way to invest in the cryptocurrency market?
Because crypto market is changeable and prices can rise or fall several times per day, CFD is the best earning opportunity. Simple put, contract for difference helps you earn on currency difference. CFDs allow you keeping your losses at a minimum. CFD is the safest and logical way compared to other forms of trading cryptos.