BitForex is a major exchange that is very popular with exchanges that are said to have more than 1 million users worldwide. Our Singapore-based exchange has expanded its users to 180 countries around the world. It will be expanded in the future. The transaction fee is cheaper than other exchanges, there are 69 types of stocks handled, and the trading screen on the system is simple and easy to trade, so it is popular. Also, opening an account can be done in about 5 minutes, so you can easily start.
Only one of the following items is required to open a BitForex account. BitForex does not require identity verification with a passport or driver’s license. In addition, there are no withdrawal restrictions depending on whether or not you have verified your identity.
- Email address or phone number
You can register for BitForex by phone number or email address. For Code, enter the characters you can see, enter any password, and click “Sign up”. You will receive an email with a 6-digit number written to the registered email address. Enter the number within 30 seconds and click “Verification”. Registration is now complete.
When you log in for the first time, you will be asked to set security. Make two-step verification settings. BitForex offers two-step verification, SMS verification and Google Authenticator.
Click “Bind” at the right end of the Google Authenticator column on the Security Strategies page in the account page. Scan the QR code or enter the Google private key under the QR code to “send”. Enter the verification code that arrived at the email address registered in “Email verification code”. Enter the verification app code in “Google verification code”. Click “Confirm” to finish.
Transaction fees are cheaper with BitForex. There are many cryptocurrency exchanges other than BitForex, and transaction fees vary from free to 0.3%. As a discount, the commission on the transaction amount is often discounted.
You can trade 69 stocks on BitForex. The following is an example, but you can trade many other coins. Please check the official page as the coins handled may change each time.
Scalping trades are allowed in BitForex. However, please be careful. Unlike foreign exchange, the price range of virtual currencies is very volatile. If you go the other way, be sure to decide the withdrawal point. If you go the other way, you may lose all your money.
Automatic trading is at your own risk
BitForex has no restrictions on automated trading. However, automated trading carries great risks. When a one-sided trend appears, the unrealized loss becomes large and all the principal is often skipped. Furthermore, in the case of virtual currencies, trends are more likely to occur than foreign exchange, and price range fluctuations are more likely to occur. You may lose all your money in one trade, so please understand before deciding whether or not to do it. Discretionary trading is recommended.
Low risk, low return for beginners
Beginners should not be familiar with cryptocurrency FX yet, so let’s start with low risk and low return.