Coinsbit

Overview of COINSBIT

Coinsbit is a virtual currency exchange company based in Estonia that was founded in 2018. Without any regulatory licenses, Coinsbit offers over 100 cryptocurrencies to its users. The maximum leverage provided by Coinsbit is up to 10x, allowing users to potentially increase their trading positions.

Pros and cons

Pros of Coinsbit:

Support main crypto currency: Coinsbit offers a wide range of over 100 cryptocurrencies for users to trade, providing them with numerous options and flexibility in their investment choices.

User-Friendly Interface: Coinsbit provides a web-based platform and a mobile app, ensuring convenience and accessibility for users to trade anytime and anywhere.

Various deposit and withdrawal options: - With various deposit and withdrawal options available, Coinsbit offers flexibility for users in managing their funds according to their preferences.

Good customer support: Coinsbit offers 24/7 live chat and email support, providing users with assistance and guidance whenever they need it.

Strong security: More than 95% of all currency are stored on cold wallets. WAF (Web Application Firewall) is a web application security screen that detects and blocks hacker attacks.

High Performance: The main distinguishing feature of Coinsbit is the processing speed of up to 10,000 Trades every second and 1,000,000 TCP connections.

Cons of Coinsbit:

Unregulated: The regulatory authority governing Coinsbit is not specified, raising concerns about the transparency and oversight of the exchange.

Limited educational resources: Coinsbit does not specify its educational resources, which may be a disadvantage for users who are looking for educational materials to enhance their trading knowledge and skills.

Limited information: The lack of specific regulatory information and educational resources may contribute to a less transparent and potentially riskier trading environment for users.

High withdrawal fee: Withdrawal fees are a bit on the higher side.

Regulatory Authority

Coinsbit is not regulated by any regulatory authority, which may raise concerns about the transparency and oversight of the exchange. As a result, the regulatory situation of Coinsbit remains unclear, potentially exposing users to risks associated with unregulated exchanges.

Unregulated exchanges lack the oversight and legal protections provided by regulatory authorities. This can lead to a higher risk of fraud, market manipulation, and security breaches. Without proper regulation, users may also face challenges in seeking recourse or resolving disputes. Additionally, the absence of regulatory oversight can contribute to a less transparent trading environment, making it difficult for users to assess the legitimacy and reliability of the exchange.

Security

Coinsbit's security measures include cold storage for cryptocurrencies and two-factor authentication for account access. Cold storage is a widely recognized security measure that keeps the majority of users' funds offline, thus minimizing the risk of hacking or unauthorized access. Two-factor authentication enhances account security by requiring users to provide a secondary verification code in addition to their login credentials. Moreover, there is also a robust firewall protection (WAF) employed on the website to add an extra layer of security to the users assets and detect hacker attacks.

Cryptocurrencies available

Coinsbit offers over 100 cryptocurrencies to its users,giving users a wide range of options for trading.

Coinsbit not only supports popular cryptocurrencies like BTC, USDT, ETH, XRP, LTC,EOS, XLM, BNB,but also supports niche coins like PROM, KLV, SWT. In addition to cryptocurrency trading, Coinsbit also support main flat currency trading such as USD, EUR, TRY, UAH, RUB, KZT.

How to open an account？

The registration process of Coinsbit consists of the following six steps:

1. Go to the Coinsbit website and click on the “Sign up” button.

2. Provide your email address and create a password for your account.

3. Verify your email address by clicking on the verification link sent to your inbox.

4. Complete the KYC (Know Your Customer) process by providing your personal information, such as your full name, date of birth, and residential address.

5. Upload the required identification documents, such as a valid passport or driver's license, to verify your identity.

6. Wait for the verification process to be completed. Once approved, you can start trading on Coinsbit.

Fees

Coinsbit dont divide between takers and makers. Instead, they have what we call “flat fees”. This means that each party to a transaction pay the same fee. At Coinsbit, this fee is 0.20% of the order value for both takers and makers. 0.20% is in line with, or even slightly below, the industry average. The industry average has for a long time been 0.25%.

Deposit & Withdrawal

Coinsbit offers various deposit and withdrawal methods to provide flexibility for users in managing their funds. The specific methods available can vary and may include options such as bank transfers, credit or debit cards, and cryptocurrency transfers.

Deposits of BTC on the Coinsbit platform are free of charge.Coinsbit charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC, so they are quite in line with the global industry average as mentioned above.

Fees for depositing and withdrawing various currencies:

The Coinsbit platform has different withdrawal limits for different account types:

The processing time for deposits and withdrawals on Coinsbit can vary depending on the chosen method and the cryptocurrency being deposited or withdrawn. Bank transfers and credit/debit card transactions may take longer processing times compared to cryptocurrency transfers. It is advisable for users to check the Coinsbit website or contact their customer support for more detailed information on the processing times of specific deposit and withdrawal methods.

Educational Resources

Coinsbit provides limited educational resources and tools to assist users in their trading journey. These resources include video tutorials and FAQ. These materials aim to provide users with information and insights about various trading strategies, market analysis, and cryptocurrency fundamentals.

Additionally, Coinsbit may have community support and communication platforms such as forums and social media groups where users can engage with each other and share knowledge and experiences.

It is important to note that the availability and extent of these educational resources and community platforms may vary. Users are advised to check https://coinsbit.iocommunity help or FAQ https://coinsbit.io/faq for detailed information about the educational resources and tools available on the platform.

Customer Support

Coinsbit provides 24/7 customer support to assist users with their inquiries and concerns. Users can contact the customer support team through live chat and email. Users who have any questions can contact email for more information：SUPPORT@COINSBIT.I

Exchange Comparison

Is COINSBIT a Good Exchange for You？

Coinsbit may be suitable for various trading groups based on different factors such as trading experience level, trading strategies, and preferences.It is suitable for beginner as well as experienced traders:

1. Beginner Traders: Coinsbit can be a good platform for beginner traders who are new to the cryptocurrency market. The exchange provides educational resources and tools like trading guides and video tutorials, which can help beginners to understand the basics of trading and navigate the complexities of the market. Additionally, the availability of community support platforms like forums and social media groups can provide a space for beginners to learn from experienced traders and ask questions.

2. Experienced Traders: Experienced traders who are well-versed in cryptocurrency trading may also find Coinsbit suitable. The platform offers a wide range of cryptocurrencies for trading, allowing experienced traders to explore different trading opportunities and strategies. The availability of advanced trading features like futures trading and margin trading may also attract experienced traders looking for more advanced trading options. It is worth noting that experienced traders should still conduct their own research and due diligence to ensure Coinsbit meets their specific trading needs and preferences.

User Review

User 1:COINSBIT is my go-to crypto exchange! The security measures they have in place give me peace of mind when trading. Plus, their wide range of available cryptocurrencies is impressive. The interface is intuitive, making it easy for even a newbie like me to navigate. Customer support is top-notch; they've always resolved my issues promptly. On the downside, trading fees can be a bit high, but considering the smooth deposit and withdrawal speeds, it's worth it. COINSBIT is my crypto playground!

User 2:Man, I've been using COINSBIT for a while now, and I'm kind of on the fence. On one hand, the interface is sleek and user-friendly. But, I'm a bit skeptical about their privacy and data protection measures. I mean, we're dealing with sensitive info here! Their range of cryptocurrencies is decent, but the liquidity sometimes feels off. Customer support？ Well, it's hit or miss. Sometimes they're on point, other times it's like talking to a brick wall. Trading fees are reasonable, but I've noticed occasional hiccups in exchange stability. Overall, not bad, but not blowing my socks off either.

Conclusion

Coinsbit is a cryptocurrency exchange that offers over 100 cryptocurrencies for trading, including popular options like Bitcoin and Ethereum. With various deposit and withdrawal options available, Coinsbit offers flexibility for users in managing their funds according to their preferences. Coinsbit's emphasis on security, risk management tools, and regulatory compliance may appeal to risk-averse traders. However, the regulatory authority governing Coinsbit is not specified, raising concerns about the transparency and oversight of the exchange. Furthermore, the lack of specific regulatory information and educational resources may contribute to a less transparent and potentially riskier trading environment for users.

FAQs

Q: What cryptocurrencies can I trade on Coinsbit？

A: Coinsbit offers over 100 cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, and many others.

Q:What are the criteria for cryptocurrency to be listed on the exchange？

A: Before entering the exchange, each Cryptocurrency must prove its usefulness, value and liquidity in order to be maintained by the customers' demand in the future.

Q: How to make a currency withdrawal on the exchange？

A: Go to the Balance tab and click on the “-” next to the necessary coin, enter the address and the amount.

Q: In what time frame the withdrawal requests are processed？

A: After the verification of the identity, all applications are made within 3 hours.

Q: Is there any transaction limit？ What is the maximum/minimum amount of the transacti

A: Minimum and maximum order amount vary for each trading pair and can be seen on the Trade Page when placing an Order.

Q: Does Coinsbit offer customer support？

A: Yes, Coinsbit provides 24/7 customer support through live chat and email. Users can contact the customer support team for assistance with their inquiries and concerns.Users who have any questions can contact email for more information：SUPPORT@COINSBIT.IO

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.