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Coinsbit
RankCoinsbit
Name
Volume (24h)
Visits
Avg.Liquidity
No.Markets
Launched
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Coinsbit
000
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Coinsbit is a centralized cryptocurrency exchange located in Estonia. It is a centralized cryptocurrency exchange that provides businesses and individual traders with low fees, multi-support, reliable security, and an open API. At the time of Asian Blockchain Life 2019, it was named the best cryptocurrency exchange of 2018, which is an outstanding achievement for any exchange, given the fierce competition.

Coinsbit CEO - Nikolay Udyansky, has more than 7 years of experience in creating, developing and investing in crypto projects. He was involved in the creation and launch of five of the 50 leading crypto exchanges.

Coinsbit offers cryptocurrency trading and allows users to earn crypto assets through a betting pool. Coinsbit, launched in August 2018 in Estonia, a country known for its cryptocurrency-friendly government. The team claims that the number of Coinbit users is 2,000,000. 

Trading Characteristics

Coinsbit supports cryptocurrency pairs, fiat gateways, a p2p lending platform, and other features to perform larger transactions with fast settlement. 

It allows users to perform transactions with cryptocurrency or fiat by issuing buy and sell orders using the available pairs. In addition, it provides round-the-clock support in several languages. 

There are 74 coins and 177 trading pairs on the exchange. The most active trading pair on the Coinsbit exchange is BTC / USDT. 

It allows you to trade the following fiat currencies: EUR, KZT, RUB, TRY, UAH and USD. Coinsbit offers cryptocurrency trading and allows users to earn crypto assets through a betting pool. 

Coinsbit allows you to buy cryptocurrency for fiat money by bank transfer or card payment. He is also involved in a number of his own projects. These include, for example, the ability to purchase goods from online stores eBay, Amazon, Alibaba or Aliexpress using stablecoins, the offer of P2P cryptocurrency loans, or the support of its own CNB token.

The company launched CNB Coin (CNB) for the same reasons as any other platform. The most important reason is that holding a CNB entitles you to receive discounts when trading on the exchange. These include trading fees, as well as deposit and withdrawal fees. Trading fees are an important factor, and being able to get discounts means that traders can save a lot of money while trading. In addition to discounts, CNB tokens are also a form of investment.

The exchange also offers Invest Box services and P2P loans. Invest Box was launched in mid-2019 as an additional Coinsbit service specifically to provide investment opportunities to the passive trader. Here, customers who own different coins are rewarded depending on the length of time they hold the coin. For example, storing CNB tokens brings 0.15% profit every day. There is a huge list of coins that offer rewards for stacking in the Invest Box.

In addition, a new P2P loan feature has become available, allowing loan seekers to receive loans from others, not limited to their credit rating. This feature is secure because it is controlled by Coinsbit, and both lenders and borrowers can feel secure when conducting transactions on the platform.

Unlike other exchanges, Coinsbit also accepts deposits in fiat currencies. In addition to coins, you will also find initial exchange offers (IEO), because there is a launch pad on the platform.

Coinsbit Fees

Coinsbit charges a trading fee of 0.2%, and the withdrawal fee depends on the currency in question.

Safety

Coinsbit takes the security of the platform quite seriously. More than 95% of all cryptocurrency is in cold storage. Also used is the WAF (Web Application Firewall), a web protection screen that detects and blocks malicious interference in the system.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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