Overbit is a platform you’ll come to love if you’re actively speculating with Bitcoin for a profit. What this Seychelles-based exchange does, is to provide unique features that will aid your easy and fast trading of Bitcoin derivatives. And for the uninitiated, these are financial contracts whose value is tied to the future price of Bitcoin.
Overbit is a Bitcoin derivatives trading platform that was founded by Chieh Liu, an entrepreneur, and investor with over eight years of experience in FX trading. The company is based in Seychelles and it has been in operation since 2018. Overbit supports four languages including English, Chinese, Japanese, and Korean to make trading a breeze for international customers.
Features of Overbit Exchange
Here are some features that make Overbit a great place for trading whether you’re new to the crypto space, or you’ve been trading actively.
1. Crypto, FX Trading and Metal Trading:
Overbit is a cross-market trading platform since it supports crypto and currency trading (FX trading) using Bitcoin as the underlying asset. All you have to do is deposit your Bitcoin to begin trading it against other currencies. Some contracts it offers include BTCUSD, BTCJPY, ETHBTC, XRPBTC, LTCBTC, EOSBTC, BCHBTC, ADABTC, and NEOBTC.
Overbit eliminates the risk of price manipulation by conducting fair pricing on its trading platform as its quotes come from various top-tier exchanges. Furthermore, there is a 50X leverage on cryptos and a 500X leverage on Forex trades. Lastly, for all Metal traders, Overbit offers the option for Gold and Silver trading on its platform.
2. Intuitive User Interface:
Overbit’s advanced user interface has been designed to make it easy to use and navigate even for a novice in the cryptocurrency space. And if you’re a professional, you’ll come to appreciate the ease at which you can trade seamlessly on the platform. The interface is friendly whether you access it from a desktop, tablet, or mobile device.
An interface of this nature is made possible by providing the user with only vital information that will aid their trade and their decision. Accordingly, market noise is minimized by eliminating unnecessary features and maintaining the most essential ones. For starters, there is an advanced trading graph that has been culled from TradingView.
4. Demo Mode:
Let’s say you’re still new to the crypto space and you’re trying to get a hang of things. Overbit has a simple trading interface on one hand, and a free demo trading mode on the other. A combination of these means you can easily learn how to speculate on cryptocurrencies.
A demo trading mode, for instance, will equip you with the necessary skills you need even before you make your first investment. Each trader is allocated with 8 virtual BTC to start his or her trading journey and they can see how the platform works in real-time, without spending a dime to do so.
4. Enhanced Security:
According to Overbit, its customer-owned Bitcoin is “always segregated, protected, and stored in multi-signature cold wallets”. As such, it reduces the risk of an attack compared to hot wallets that are still connected to the internet.
On December 18, 2019, Overbit announced its partnership with Confirm, a leading AML solutions provider. The partnership will enable Overbit to use Confirm’s AML risk analytics system to enhance the security of the platform and offer transparency to its customers. Reportedly, Coinfirm’s AML blockchain solution can evaluate several risk scenarios in over 1,000 cryptocurrencies.
5. Affiliate Marketing:
Asides from trading on Overbit, you can also earn Bitcoin by joining its affiliate program. In line with that, you stand to earn 10%, 15%, or 20% of Market Spread (Buy Price – Sell Price) in commissions for trades made by your referrals. These percentages increase when your referrals’ overall notional value has increased.
There is a daily payout system in place so there’s no limitation as to when you get paid. Therefore, the affiliate marketing structure is just one more way to make extra cash while using this exchange. Lest we forget, there’s also an affiliate partner program specially tailored to large affiliates and community groups who’d like to partner with the platform.
Interested to be an Affiliate and earn Bitcoin, find out more here.
6. Reward System:
There’s a reward system on Overbit as an incentive for people to trade, and most importantly, reward loyal users of the platform. This system offers Tier Points (TP) to traders each time a new trade is opened. In this case, the point a trader garners is dependent on the size of position that is opened.
Also, these points are evident on the user’s dashboard alongside their wallet and withdrawable balances. You can redeem the TP’s collected for Bitcoin and withdraw straight away. It, therefore, means that the more points you have, the higher the BTC value you can withdraw. Also, plans to make TP redeemable as gift cards, shop vouchers, etc.
Overbit makes your journey in Bitcoin derivatives trading an easy one. It may be your first time interacting with this asset class, but the unique, simple interface coupled with the tutorials provided makes it quite easy. Therefore, try this platform today to get your trades in and make a profit.