BitLogic is a newly founded crypto betting website. This is designed as stated by the developers, as a fair CryptoCurrency betting platform which can be used to trade Forex, Stocks, Indices and Commodities using cryptocurrency. This is not just limited to Bitcoin, but allows deposits in many of the most well known cryptocurrencies, including but not limited to:
Bitcoin, Litecoin, Monero, Ethereum, Ethereum Classic, zCash and DASH.
How to use
When you first enter the website, you are greeted by a homepage which looks quite intuitive and professionally done:
You can create a free demo account, or you can start with a deposit starting at 10 micro bitcoins. They have android, iphone and web applications for their platform. Scanning the site appears to find no malware.
This allows tradings of various stocks and other gambling type investments from the comfort of your living room. They also offer affiliate marketing at a very high rate of 60%.
The site is available in the following languages: English, Russian, Vietnamese, German, Spanish, Italian, Portuguese, and Thai.
The site overall seems professional and functional. It allows you to sign up for a demo account, without email confirmation, and gives you a guided tour on how to use the platform, as shown below:
The platform is very easy to use for the purpose of trading. You can trade with ease. We have not tested actual withdrawal payouts on a real account, but it seems legit, but as this is a new site do not go depositing thousands!
Their official BitcoinTalk topic is here. The trust rating of the member who has posted it on BitcoinTalk is a well respected member and not a typical ‘newbie’ account scam.
However it must be noted that there is WHOIS privacy protect, which is disallowed on many domains for commercial for-profit use in some jurisdictions. See WHOIS data here.
This however does seem to be a legit site for stock trading, and seems easy and simple to use. They can trade stocks in a few countries, including: United Kingdom, China, Russia, Germany, and the USA.
They carry negative balance protection, to ensure that ONLY what you deposit is at risk. This is often a risk with some stock trading type websites, so this is good that you can easily control what you are spending.
Deposits are simple. You simply enter the amount in mBTC, pick your currency, and it will then give you an address to deposit to. Only the funds you deposit are at risk of losses, you cannot lose more than you deposit.
Withdrawals are simple enough, and can be withdrawn to a BTC address. Withdrawals however have a couple of limitations, including that withdrawing 3 times your initial deposit within a day is limited, plus withdrawals larger than 0.5 BTC need to go through ‘operator approval’. Plus your deposit transaction must have at least 3 confirmations before allowing withdrawal.
Overall, a simple, clean and efficient site, and despite the WHOIS information missing, seems a genuine stocks, commodities, indices, Forex, and site that seems simple to use.
This differs from other betting websites and exchanges in that its not a casino type betting website, but is for stocks, commodities, indices, and Forex trading. There are not many trustworthy examples of these kinds of sites in the Cryptocurrency world.
If the site interests you, visit them at www.bitlogic.cc
Note that the following warnings apply, that this is not investing due to the high risk, this is gambling like any other trading on the stock market, and you must never gamble what you cannot afford to lose. If you feel you are becoming addicted to gambling, seek professional advice from a doctor or gambling charity.
Signs of addiction to gambling include:
- Not spending time doing any other activities.
- Feeling the need to get your ‘fix’ gambling.
- Chasing losses.
Gambling is supposed to be a fun activity, and it should remain so. So pace yourself, and enjoy!
Responsible Coin Storage
If you are handling large amounts of coins, these are not safe to be stored long term on your exchange, phone or computer. Consider a ledger hardware wallet, which you can purchase direct from ledger here. Acts like a USB stick, and protects your coins from malware! Store your winnings safely!