BITHOVEN - Buy and Sell Cryptocurrency Now

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4-digit PIN-code
A 4-digit PIN-code is a security measure, which is used in the process of authenticating a user accessing a system, and is aimed at preventing unsanctioned/unauthorized use of sensitive data. A PIN is numeric code, which serves as a secondary form of verification. It is very important to remember your PIN. It cannot be changed or restored. Because PINs protect sensitive information, it is highly recommended to use a PIN that is difficult to guess.

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Trading on Spot Exchange
Bithoven renders spot exchange and margin trading (MT5) services. To perform a trade (buy or sell operation) on spot exchange, you need to first deposit your account with a currency(ies) you want to trade. Once it is done, you are welcome to trade — simply opt for the Start Trading button. Choose your preferred trading pair from the Instruments section and decide on which type of order you want to complete (Buy or Sell). Below you can view the order book with the latest sales, market depth and prices.

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Limit Orders
At Bithoven, crypto traders can buy or sell cryptocurrencies in a variety of ways. One such way is through limit orders, which allow traders to purchase or sell a cryptocurrency at a specified price level. A limit order is an order that you place on the order book with a specific limit price. Limit orders appear in the order book and create liquidity for the market. As a rule, limit orders are a good fit for patient traders and for those who want to HODL by buying crypto at cheap prices.

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Market Orders
A market order is an order to quickly buy or sell crypto at the best available price. Market orders deal with the execution of the order – the price of the cryptocurrency is secondary to the speed of completing the trade. Considering the fact that market orders are executed right away, a market buy order will match the cheapest limit sell order available on the order book.

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Scaled Orders
A scale order includes several limit orders at incrementally increasing or decreasing price levels. If it is a buy scale order, the limit orders will decrease in price, triggering buys at lower prices as the price starts to decline. Conversely, with a sell order, the limit orders will increase in price, allowing the trader to take advantage of increasing prices, thereby locking in higher returns. Traders often use scale orders as a strategy for buying or selling large amounts of crypto. If you choose this option, you will be able to create multiple limit orders with the same conditions in one sitting.

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Where Is My Deposit?
Deposit processing time varies from crypto to crypto and is dependent, as a rule, on the network performance. Once the transaction has been made, it cannot be reversed due to the nature of blockchain. If you can’t locate the sent deposit amount in your account, please take these troubleshooting steps:
a) check if the transaction was confirmed on blockchain;
b) get convinced that you’ve used the correct deposit for your chosen crypto;
c) make sure the input payment ID (destination tag/memo/message) is correct;
d) make sure Bithoven.com does not run any important/scheduled updates;
e) make sure the chosen coin for depositing is supported on the platform.

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Mistakenly Sent Deposit
As you know, blockchain transactions are irreversible, therefore you have to be very attentive and careful when initiating a blockchain transaction. Please ascertain that the deposit wallet address is correctly copied and contains no typos or errors. In case you made a deposit in the wrong currency, for instance, you tried sending ETH to a BTC address, it may be possible to restore it. You will need to contact our Customer Care Team to find out what can be done to sort the things out. Please note that this process can be rather time-consuming and labor intensive.

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No Deposit Fees Charged
Regardless of the type of cryptocurrencies, all deposits on Bithoven.com are free of charge and all users can take the full advantage of the Bithoven.com services. Enjoy the full specter of trading tools!

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What Is Margin?
A “margin” is the relative amount necessary to carry out a leveraged deal, taking into consideration spreads, leveraging and currency conversions. When trading on margin, you are using borrowed funds to place orders, in contrast with directly owning and using the funds deposited or held on your account. As such, margin trading amplifies the trading power so that traders are able to realize larger profits on successful trades.

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What Is Margin Trading?
Margin trading is a method of trading cryptocurrencies using funds provided by a third party. You can use margin to create leverage. Margin trading starts with a margin account, where you have the ability to use leverage based on the amount that you put into the margin account. Here, for every 1 BTC deposited to a margin trading account, a crypto trader is able to enter into trades worth 3 BTC or 20 BTC, accordingly.

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What Is Leverage?
“Leverage” is the increased trading power that is available to margin account holders. Leverage is expressed as a ratio (for instance, 1:3 or 1:20). Leverage may be applied to both buy (long) and short (sell) positions. You can use margin to create leverage.

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Spot Exchange & Margin Trading
Trading on exchange implies a trading activity between cryptocurrencies you own. After executing a trade, the funds are available for buying or selling again or they can be withdrawn. Conversely, by trading on margin, you are not obliged to own or have possession of the underlying cryptocurrency to open a position. Traders use leverage to open a position, where leverage ratio can be set to 1:3, 1:10 or 1:20, respectively.

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Spread vs. Floating Spread
Spread is the difference between Bid and Ask prices. In contrast, Floating Spread is a constantly changing value between Ask and Bid prices. It accurately reflects the prices of trading instruments and how quickly they are changing. Floating Spread you pay for purchasing a currency pair that fluctuates and is dependent on supply, demand and total trading activity.

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Long & Short Positions on MT5
There are two types of orders: Long (buy) and Short (sell) positions. They characterize the trade order entries based on possible cryptocurrency price movements (increasing or decreasing). Using a buy limit order allows you to specify the exact price you want to buy CFDs. This price is a calculated entry point. A stop order includes a stop price that triggers the allowance of a market order. If the market price moves to the stop price, then a market order to sell is triggered. Until these conditions are met, it is a pending order and does not influence your account totals or margin calculation. Market orders (buy or sell) are meant to execute as quickly as possible at the current market price.

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How to Restore Margin Account Password?
In case you accidentally forgot or lost your margin account password (Demo or Live accounts), you can easily restore it. Here is how to do it:
• Navigate to dashboard and press “Margin.”
• Select “My accounts.”
• Find the account you want to restore access to and press the Settings icon in the right column.
• Press the “Forgot password?” feature and you’ll receive a password resetting instruction to your email address. Tap the “Reset Password” button and you will receive a new password for your margin account to your email address.
Important! Keep your login/password pair safe to prevent unauthorized access to your margin account. You’re advised to use a secure password manager to store your passwords (DashLane, KeePass, etc.)

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