I am going through a headache trying to find a good broker that operates in bitcoin. I want to put leverages in BTC, because it´s more profitable, as the the leverage gain multiplies with the price gain of BTC.
But now all those brokers I found that operate in BTC have some issues. Most of them steal their users.
The broker I really fell in love with is Whaleclub. It´s beautiful, simple, has a chat, leverages x3, x5, x10, x20. But there is now quite a few stories about people got robbed by them and with quite large amounts. And their terms of service permits taking all your money. Then they do their best to ban and silence you. The company is based in Hong Kong and not regulated. I have risked a small amount of money with them, because they do have many active users and they won't rob you of small amounts. Now I want to invest a bigger amount so I need to be sure my money and hard work with risk managing will not be taken away from me.
And yesterday they had a glitch that lowered the BTC price for a minute... Imagine, it killed all the buy positions. They refunded the money honestly, but it was not the money I wanted, but the perfectly safe by then two 5x leveraged positions. It´s not a big thing though. I would still love them wildly, if only they were an honest company.
The alternatives are few and have issues of their own.
Bitmex, I´ve read some theft stories about them too and their platform is strange... You can't open multiple positions on the same currency, just updating the old one, the leverage floats, I don´t get that shit. And other crypto are against BTC only, I don´t like that.
Poloniex, a very heavy script and more fraud stories. So many stories actually, I didn't even try it.
OKCoin, they have no demo, and I'm not sure if they operate in BTC or USD and I don't see any leverage option, as they are supposed to offer x2 and x3.
Magnr looks like the most reliable, its based in UK and regulated, no fraud stories. The problem is they offer only Bitcoin, so no diversification and I hear now they block the leveraged buy option when the BTC is on the rise. So what´s the point...
Still, among all those star options I was considering it, but that´s what I found when I clicked the´deposit funds´ button: "We are no longer accepting new deposits"
Bittrex - very bad reputation and no leverage.
Bitfinex - I was impressed while going through their demo and FAQ, and googled user reviews (not perfect, but not too bad either). They don´t allow multiple positions on the same par, but other than that looked very nice... until I see in their FAQ, that their x3 leverages are x3 only for winning, but are x6 for loosing. The positions close at 15% loss. This is unacceptable. And you can´t even choose them freely, it´s just if you bet $1000, its on x3 leverage, if $2000, it´s x2. Strange, but might be acceptable, if only those leverages were honest.
Lykke - I almost forgot about this one. Now I see it a favorite. Way-way to simple, but well. It has a very good reputation and it's based in Switzerland, it operates in BTC (although you can deposit only up to 1 BTC) and all the other crypto as well. And you get to be a real owner of the bitcoins you have in your wallet. The leverage is x3. I am just trying to figure out if there is no catch with it, just like with Bitfinex.
So you can see the result of my study and maybe you can add another platform that is better then all those?
Bitfinex is currently embroiled in rumours of fraud and insolvency (keeping themselves afloat by printing more USDT -
https://medium.com/@bitfinexed)
Poloniex is good, works well and has nothing fraudulent about it. I have been using it with no issues for hte past 4 months. There is a lot of FUD about every exchange. Try with a small amount and see which one suits you best.
