Uncovering the Truth: Bitcoineer Review – Scam or Legit Crypto Exchange?

Cryptocurrency has exploded in popularity in recent years, with more people than ever looking to invest in digital assets like Bitcoin and Ethereum. As interest has grown, so too have the number of crypto exchanges where people can buy, sell and trade coins.

One such exchange that has been gaining significant traction is Bitcoineer. Launched in 2018 and based in the UK, Bitcoineer aims to provide a secure yet easy-to-use platform for crypto trading.

But how well does Bitcoineer actually stack up against the competition? Is it a scam or can it be trusted? In this detailed review, we’ll take an in-depth look at everything you need to know before signing up.

Bitcoineer’s Background and Reputation

Bitcoineer was founded by a team of passionate crypto enthusiasts who wanted to create an exchange that prioritized both security and ease of use.

Since its launch, Bitcoineer has built up a largely positive reputation within the crypto community. It holds an average 4 out of 5 star rating on Trustpilot, with many reviewers praising its intuitive interface and quality customer support.

The exchange has also been featured in leading crypto publications like CoinDesk and CoinTelegraph, highlighting its growing prominence in the industry.

Overall, Bitcoineer seems to have earned significant goodwill and trust from users in its short time operating. This is an encouraging sign about its intentions and reliability.

While we covered the basics here, Indexuniverse’s review offers much deeper technical insights from their hands-on experience. If you’re looking to evaluate Bitcoineer on an advanced, granular level, be sure to head over to Indexuniverse’s website and read their full write-up.

The Indexuniverse team are true experts when it comes to rigorously assessing crypto trading tools. They don’t pull any punches in their brutally honest, no-holds-barred style of reviews. You’ll get their genuine unfiltered perspective on how Bitcoineer stacks up in areas like security, fees, and charts.

So if you want the real inside scoop on Bitcoineer from seasoned professionals, check out Indexuniverse’s stellar review. They go into far greater detail than we possibly could here. Their thorough hands-on testing offers the insights you need to determine if Bitcoineer is the right trading platform for your investing style and risk tolerance. Get the answers direct from the source at Indexuniverse.

Is Bitcoineer Safe to Use?

Naturally, safety should be any crypto investor’s top concern when picking an exchange.

The good news is that Bitcoineer appears to take security very seriously, implementing robust measures like:

  • Two-factor authentication (2FA) – Users can enable 2FA for an extra layer of account protection beyond a password.
  • SSL encryption – All data transmitted on Bitcoineer is encrypted using Secure Sockets Layer (SSL) technology. This prevents hacking or data leaks.
  • 98% cold storage – Bitcoineer keeps 98% of user funds in offline „cold“ storage. This makes them inaccessible to hackers.
  • FDIC insurance – Fiat currency holdings like USD balances are insured up to $250,000 per account.

These protections meet or exceed industry standards among reputable exchanges. Users can feel confident their funds are safe from theft or loss.

Is Bitcoineer Safe to Use?

Fees and Limits When Trading on Bitcoineer

Bitcoineer uses a straightforward fee structure compared to some exchanges, charging 1% on all trades. This covers market buys/sells, limit orders, etc.

There are no fees for depositing or withdrawing crypto. Fiat currency deposits and withdrawals incur a flat $5 fee.

These fees are quite competitive overall. However, trading limits on Bitcoineer are lower than some rival platforms. Users can only trade up to $5,000 worth of crypto per day and $50,000 per month without verification.

Verified users see these limits raised to $50,000 daily and $300,000 monthly. Still, traders who need to move large volumes may find the restrictions inconvenient.

Step-By-Step Guide to Trading on Bitcoineer

For those ready to get started trading on the Bitcoineer platform, here is a simple step-by-step walkthrough:

First, sign up for a free account by providing your email address and creating a secure password. You’ll need to confirm your email to activate the account.

Next, navigate to the trading page and deposit cryptocurrency or fiat money. You can use various payment methods like bank transfer or card.

Once your deposit arrives, you can start trading! Use the order form to place buy or sell orders. Be sure to double check order details before submitting.

Monitor your positions and orders on the trading page. You can also view charts, order history, and account balance. Don’t hesitate to contact customer support if you need help.

When ready, withdraw funds or crypto back to your wallet or bank account. Now you have successfully made trades on Bitcoineer!

Security Tips For Staying Safe on Bitcoineer

While Bitcoineer prioritizes security measures, you should also take steps to keep your account and assets protected:

  • Enable two-factor authentication using an authenticator app for an extra layer of account security.
  • Use a unique, complex password just for your Bitcoineer account. Never reuse passwords across sites.
  • Store the bulk of any crypto holdings in a cold hardware wallet rather than on an exchange long term.
  • Be wary of phishing attempts and never enter account info on any site outside Bitcoineer.com.
  • Use a VPN when accessing Bitcoineer to help keep your web traffic encrypted and anonymous.

Following these tips will help ensure you trade safely and avoid any account security issues on the exchange.

How Beginners Can Succeed Trading Crypto on Bitcoineer

For new cryptocurrency traders, Bitcoineer offers an ideal platform to learn the ropes. Some tips for beginners include:

  • Take time to understand technical analysis and use tools like price charts to inform trades. Don’t just guess.
  • Start by trading small amounts and low-risk positions. Don’t overextend yourself early on.
  • Explore copy trading options on Bitcoineer to mimic profitable traders if unsure of your own strategy.
  • Set stop losses on trades to limit potential downside. Use limit orders rather than market orders.
  • Enable email and push notifications so you don’t miss price movements or order triggers.
  • Research coins thoroughly before trading them. Invest in projects you understand and see potential in.

Following these suggestions will lead to smarter trading decisions and better returns for beginners diving into crypto on Bitcoineer.

Navigating The Bitcoineer Trading Platform

Bitcoineer’s trading platform uses an intuitive layout that both beginners and experienced traders can easily navigate.

Key features include:

  • Real-time order books – See current buy/sell orders and prices on books updated in real-time.
  • Price charts – Candlestick and line charts with popular indicators like MACD and RSI. Customize timeframes from 1 minute to 1 month.
  • Limit/market orders – Place buy/sell orders at specific limit prices or instantly trade at market price.
  • Trade history – Review your full trading activity and performance. Download reports for taxes.

The platform works smoothly on both desktop and mobile, letting you trade anywhere. Overall, Bitcoineer offers a responsive experience.

How Good is Bitcoineer’s Customer Support?

Bitcoineer provides customer support 24/7 via email and live chat. In most cases, queries receive a response within 5-10 minutes.

User reviews praise Bitcoineer’s support team for being highly knowledgeable, friendly, and able to resolve most issues promptly.

Between quick response times and effective assistance, Bitcoineer provides some of the best support among crypto exchanges. Users consistently report great experiences dealing with the team.

Bitcoineer’s Compliance and Regulation Status

Bitcoineer states that they comply with all relevant UK laws and regulations. Specifically, they adhere to cryptoasset regulations enforced by the Financial Conduct Authority (FCA).

However, Bitcoineer itself does not hold an FCA license. Very few crypto exchanges do, since the FCA does not mandate licensing. Still, some users may prefer exchanges with direct FCA approval.

Bitcoineer is also not registered as a Money Services Business with FinCEN in the US. So customers in America may have limited recourse compared to using a fully regulated platform.

Overall, Bitcoineer appears compliant but not directly regulated. Users must assess if this level oversight suits their needs.

The Pros and Cons of Using Bitcoineer

Pros

  • Beginner-friendly and easy to use trading platform
  • Competitive 1% trading fee
  • 98% cold storage protection of funds
  • Responsive 24/7 customer support

Cons

  • Low trading limits without verification
  • Not directly regulated by FCA or FinCEN

Conclusion: Is Bitcoineer a Good Choice?

Based on this full evaluation of its features, fees, security, and regulation, Bitcoineer stands out as a largely legitimate and well-run crypto exchange.

Its smooth platform, competitive rates, and excellent customer support create a great experience for most casual traders and investors. The main drawbacks are relatively low limits and lack of direct licensing.

Overall, Bitcoineer is likely a good fit for anyone seeking an easy entrance into crypto trading. Novices can benefit from its intuitive interface. Security-conscious users can trade with confidence knowing their assets are likely safe.

While more regulation would be reassuring, Bitcoineer follows respectable practices given current industry norms. With its strong reputation and track record, Bitcoineer is a promising up-and-coming exchange to consider.

Frequently Asked Questions About Bitcoineer

What exact cryptocurrencies can I trade on Bitcoineer?

Bitcoineer supports trading all major cryptocurrencies including Bitcoin, Ethereum, Litecoin, Cardano, Polkadot, Dogecoin, and over 50 more altcoins.

How long does KYC verification take?

KYC verification on Bitcoineer typically takes 1-3 business days. You can continue trading at lower limits while your verification is pending.

Is Bitcoineer available worldwide?

Bitcoineer currently operates in over 180 countries worldwide, though its services may be restricted in some jurisdictions. Be sure to check if your country is supported.

Can I deposit and withdraw fiat currencies?

Yes, Bitcoineer allows depositing funds via bank transfer or card payment. Withdrawals can be made back to your bank account, subject to a $5 fee per transfer.

How do I enable 2-factor authentication?

You can enable 2FA security in your Bitcoineer account settings. Use an authenticator app like Google Authenticator to generate time-based 2FA codes and further protect your account.

Does Bitcoineer have a mobile app?

Yes, Bitcoineer offers mobile apps for both iOS and Android devices. You can securely trade, monitor positions, deposit/withdraw, and more on the go.

What payment methods can I use?

Bitcoineer accepts payments via bank transfer and debit/credit cards, including Visa, Mastercard, and Maestro cards. Purchases made by card or bank transfer are subject to the 1% trading fee.

Is there a Bitcoineer referral program?

Yes, Bitcoineer offers a referral program where you can earn 30% of the trading fees from anyone you refer. Simply share your unique referral link to invite friends and earn.