Poor wallet security, non-existent customer support, and slow trading engines have made thousands of crypto traders close down their accounts and quit trading altogether. From the early days of Bitcoin, its exponential growth in 2017 to its current state, people still struggle to find reliable crypto exchanges.
Coinsbit, a fast-rising FIAT and crypto trading marketplace, comes armed with all the features and services traders have always looked for. Whether it’s protecting your data, processing transactions fast or providing an intuitive interface, the exchange checks all boxes.
What’s more, it’s currently offering a $500 cash reward to new traders. That’s unbelievable, right? To verify that the company is legitimate and not a scam, we created an account on the platform. Here’s a comprehensive review of Coinsbit and our experience using the crypto exchange.
Coinsbit: An Overview
Coinsbit features a polished, professionally designed website that loads smoothly on both desktop and mobile devices. It’s well-organized to make it easy to sign up, trade or access any of its numerous features.
The homepage provides a roundup of everything you might want to know about the exchange. Even without scrolling, you’ll conspicuously notice the exchange accepts Visa and MasterCard. You learn it provides P2P loan services and has an investment service.
As you scroll down the website, you learn more about the trading platform through a knowledge base section. Coinsbit also provides social proof that it’s a legitimate crypto trading company and not a gang of fraudsters out to scam traders. More precisely, it has links to articles from reliable outlets like Forbes Magazine that verify its legitimacy.
Now onto its core business, here’s a rundown of Coinsbit’s main features and services:
- Crypto exchange: you can buy Bitcoin using Visa/MasterCard or sell Ethereum for Ripple. Coinsbit is a comprehensive trading exchange for both Fiat and digital currencies.
- IEO Launchpad: new crypto projects that want to market their coins fast can apply to launch through Coinsbit’s IEO platform.
- API for convenient auto trading: the exchange allows you to connect your account with an automated trading bot hassle-free. And as a standard practice, Coinsbit safeguards your crypto in such a way that no bot can transfer it out of your account.
- InvestBox: this is a unique investment service only given exclusively to developers on the platform.
- P2P Loans: you can lend some crypto from investors to add to your trading capital and give it back with a profit. Alternatively, you could loan out your Bitcoin to a trader and earn interest when they payback. Coinsbit safeguards the service, so you shouldn’t worry about getting defrauded.
- Referral Program: persuade your friends to start trading on Coinsbit, and you get a portion of their trading fees as a gift from the exchange. Precisely, the exchange pays you 15% of the trading fees Coinsbit charges your friends.
Getting Started on Coinsbit: Grab a Bonus worth $500
It takes less than a minute to create an account on Coinsbit. You only need to provide an email address and a strong password to secure your account. When you verify your email and log-in, Coinsbit surprises you with a gift of its in-house Coinsbit (CBC) coins.
Take note the airdrops will not always be available. But on your lucky day, Coinsbit will treat you to CBC tokens worth $500.
Away from the airdrops, you need to fund your account to start trading on the exchange. The trading platform supports 40+ currencies, and you can fund your account using half of them. If you are new to Bitcoin trading, you should probably choose deposits using euros or US dollars and complete the payments through Visa or MasterCard.
For experienced traders, however, you have a host of currencies you can use to fund your Coinsbit account. Deposits are free for most coins although you should expect charges for withdrawals. Below is a breakdown of Coinsbit’s fees.
|Currency||Deposit||Withdrawal||Min Deposit||Min Withdrawal|
Trading on Coinsbit: Smooth and Easy
Coinsbit’s trading interface is built for complete beginners. It’s straightforward, completes transactions super-fast (10,000 transactions per second) but also presents useful features for the advanced trader.
By default, the exchange displays price movements using green and red candle bars. But if you want to, you can switch to bars, hollow candles, line or Heikin Ashi candles. You can also play around with other configurations like time zones, background information, and axis.
Nonetheless, the process of completing a trade on Coinsbit is effortless. The order buying and selling tabs are located beneath the chats in green and red colors. The exchange shows you the present price of what you want to purchase plus the amount you should pay, including Coinsbit’s 0.2% trading fee.
To switch between currencies, you can visit Coinsbit’s exchange feature and exchange your Ethereum for any other currency. It’s a quick service, and you should be able to exchange crypto within Coinsbit with no technical hiccups.
Coinsbit provides customer support round the clock through its chatbot. It’s a conspicuous feature that displayed on the right side of the website. To initiate communication, you need to provide your name and email address through which Coinsbit can reply to you.
You can also sign in to the communication feature using your Facebook or Google account. But if you prefer to trade crypto as privately as possible, you can opt-out of that option. More importantly, Coinsbit values their customers and have a solid reputation for being quick to reply to customer issues.
In an industry full of mediocre trading exchanges, Coinsbit is a breath of fresh air. Featured on Forbes Magazine and awarded for its stellar services, the web-based platform is not your average Bitcoin trading exchange.
Coinsbit is a comprehensive marketplace that allows you to trade major digital currencies plus FIAT conveniently. You don’t need to be an experienced trader to use its service. If you have basic trading knowledge, you can buy and sell crypto on the platform effortlessly.
Besides trading, Coinsbit is a place where you can borrow and loan out crypto to fellow traders. And because the exchange facilitates the service, you can always be confident your money is safe. Speaking of safety, Coinsbit keeps 95% of traders’ crypto in cold wallets for security reasons. It also gives you the option to use 2FA and set a code that you must produce before you can withdraw money on the exchange.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.