Tapbit was founded in 2021 and has quickly become one of the top crypto exchanges with the best trading liquidity on the market. Suppose you’re a trader or investor looking to use Tapbit for your trades. In that case, this comprehensive Tapbit review covers everything you need to know about the platform, including supported cryptos, trading features, fees, and many more to help you determine if Tapbit is the right platform for your trades.
Tapbit Overview
Tapbit is crypto exchange founded by Simon Fontana in 2021, with its headquarters in Spain. With access to over 200 cryptocurrencies for trading, Tapbit is a great choice for users who prefer a wide variety of coins to diversify their portfolio.
Another thing about Tapbit is its adequate security. The platform is fully licensed and uses advanced security features, including two-factor authentication, cold storage, SSL encryption, and many more to ensure the safety of user assets.
There is also a $40 million insurance fund to cover any losses incurred by Tapbit on user assets. That makes Tapbit one of the most secure and reliable global crypto exchanges for traders and investors without worrying about potential risks.
Furthermore, Tapbit offers a user-friendly trading interface with adequate educational materials, tutorials, and guides for beginners on various trading options, including spot and futures trading. The platform offers advanced trading tools, including real-time charts, technical indicators, and multiple order types. That makes Tapbit an excellent choice for both beginners and experienced traders.
Users have access to demo trading to practice trades before using real funds, copy trading, bot trading, and various passive income products, including crypto savings, to help users earn income on the platform even as beginners.
Tapbit even offers a comprehensive forex trading option for users interested in trading forex. Users have access to a wide variety of trading pairs and high leverage of up to 200x. That makes Tapbit a versatile choice for crypto and forex traders who prefer access to high leverage.
Lastly, Tapbit features a comprehensive mobile trading app for users who want to trade on their smartphones, available for both IOS and Android users, with a 4.1/5 star rating on the Google Play Store.
Tapbit Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ High security | ❌ Relatively new crypto exchange |
| ✅ Wide range of supported cryptos | ❌ It doesn't offer crypto staking |
| ✅ Beginner friendly | ❌ Limited passive income products |
| ✅ Offers advanced trading tools | |
| ✅ Offers leverage of up to 200x on derivatives and perpetual contracts | |
| ✅ 24/7 customer support via live chat and email | |
| ✅ Low trading fees | |
| ✅ Also offers forex trading |
Tapbit Sign Up & KYC
To use Tapbit and enjoy all the features on the platform, you have to sign up and complete the KYC verification process. Without KYC verification on Tapbit, you cannot place any withdrawals. Therefore, to successfully sign up and complete the verification, follow the step-by-step guide below to create an account on Tapbit and complete the verification process.
- Visit the Tapbit website and click on “Get Started” on the homepage
- Provide a valid email address or phone number, after which a verification code will be sent to your mailbox
- Type in the code sent to you, and create a strong password. Then, agree to their terms of use and click “Register.”
- After your account is created, you’ll be required to verify your identity to enjoy all the platform features and remove any restrictions on deposits and withdrawals.
- To verify your identity, you must upload a valid government-issued ID, a selfie of you holding the ID, and a piece of paper with “Tapbit” and the submission date written on it.
- After your identity verification, you can deposit funds and start trading without restrictions on the platform.
Tapbit Products, Services, and Features
Trading Features:
Tapbit is one of the best crypto exchanges in the world for trading. Users have access to over 200 cryptos for trading, demo trading, bot trading, and a comprehensive spot and futures trading interface that is easy to navigate for beginners and experienced traders. The trading interface features technical indicators, advanced order types, real-time charts, and many more to ensure a seamless trading experience for users.
What makes Tapbit stand out is its advanced futures trading option, as it offers users over 150 futures contracts, low trading fees, and high leverage of up to 150X on derivatives and perpetual contracts. Aside from crypto contracts, Tapbit also offers forex trading.
Another thing about Tapbit is its comprehensive copy trading option that allows beginners and inexperienced traders to earn by copying the trades of top traders and investors on the platform.
You only need to input the amount you want to invest and copy everything they do in real-time. Every time you copy a trader, your account makes the same trade.
You don’t need to input anything into the trades, and you’ll also get the same returns on every trade as the trader you copied.
However, Tapbit provides various educational materials and guides to help users understand how copy trading works and how to use the feature effectively.
Passive income Products:
Tapbit offers a variety of passive income products including copy trading, bot trading, and Flexible crypto savings. Tapbit Flexible Savings allows users to earn daily interest on their crypto assets while remaining flexible to redeem their funds anytime.
Another way to earn income on Tapbit is through bonus tasks. Users can earn up to 5,000 USDT in rewards by performing bonus tasks on the platform. These tasks include depositing, reaching a target trade volume, completing KYC verification, etc. The bonus tasks serve as a means of rewarding users for trading on the platform to improve the overall trading experience.
Tapbit Trading Fees
Tapbit offers one of the lowest fees on both spot and futures trading in the crypto market. The fee is 0.1% for both makers and takers on the spot market. Onn the futures market, the fee is 0.02% for makers and 0.06% for takers with leverage of up to 150x on derivatives. This makes Tapbit an excellent option for users seeking low trading fees to help maximize profit.
Tapbit Deposit Methods
Tapbit only supports cryptocurrencies for deposits, and no fiat currency is supported. Users can deposit any of the 200+ cryptocurrencies supported on the platform. To deposit, you’ll select the crypto of your choice and your preferred blockchain network. Then, a unique address is given to transfer the crypto you want to deposit.
After depositing your desired crypto to the given address, your coin comes up on your available balance and can now be used to trade. Also, it is essential to note that there are no fees for crypto deposits on Tapbit.
Tapbit Withdrawal Methods
Tapbit also supports only cryptocurrencies and non fiat currencies for withdrawals. Users can withdraw any 200+ supported cryptos by selecting the coin and the desired blockchain network. Crypto withdrawal attracts fees, which may vary depending on the coin and selected blockchain network. Also, it is essential to note that you can only make withdrawals on Tapbit after completing the KYC verification process.
Tapbit Security and Regulation
The platform is one of the most secure crypto exchanges in the world. With the use of two-factor authentication, encryption, multiple signature wallets, and many more, Tapbit ensures that users have no reason to worry about the safety of their assets.
Tapbit is registered as a Money Services Business with FinCEN and complies with the Bank Secrecy Act (BSA) requirements. Additionally, Tapbit is currently applying to obtain money transmitter licenses from multiple States within the United States.
Tapbit Customer Support
Tapbit provides reliable 24/7 customer support for users via live chat and email. This ensures that users’ inquiries or issues can quickly be addressed and rectified.
Conclusion
Having the best trading conditions is the dream of every crypto trader. Tapbit has been established to be a very secure and reliable crypto exchange for both beginners and advanced traders. With access to over 200 cryptos, low trading fees, high leverage, copy trading, bot trading, and many other essential trading features, Tapbit is undoubtedly one of the best crypto exchanges for traders or investors.
Why Choose Tapbit?
As a crypto trader or investor, here are some essential reasons why Tapbit could be the right option for you.
Low Trading Fees: Tapbit offers very low spot and futures trading fees. With a fee of 0.02% for makers and 0.06% for takers on futures trading and a standard fee of 0.1% for makers and takers on the spot market, Tapbit offers one of the lowest fees in the crypto market.
High Leverage: Users can leverage up to 150x on derivatives and perpetual contracts. Also, Tapbit offers leverage of up to 200x on forex trading on the platform.
Wide range of supported cryptos: Users can access over 200 cryptocurrencies for trading. That ensures users can diversify their trades and improve their overall trading experience.
Adequate Security and Transparency: Tapbit has been established as a secure and reliable exchange that implements advanced security features and provides insurance funds to back user assets.
User-Friendly Interface: The Tapbit trading interface is user-friendly for beginners and experienced traders. There are plenty of educational materials for beginners and advanced trading tools to ensure a seamless trading experience for advanced traders.
Reliable Customer Support: The exchange offers efficient customer support through live chat or email to ensure that customer needs are attended to adequately.
Frequently Asked Questions
Is Tapbit a Secure Crypto Exchange?
Tapbit is a very secure and reliable trading platform with advanced security measures, including encryption, cold storage, and two-factor authentication to safeguard user assets. Also, the platform has never been hacked.
Does Tapbit require KYC to Trade?
No, Tapbit does not require KYC verification before users can trade. However, KYC verification is required to access all the features and remove all restrictions on deposits and withdrawals.
Is Tapbit Registered and Licensed?
Tapbit is registered as a Money Services Business with FinCEN. As an MSB, Tapbit complies with the Bank Secrecy Act (BSA) requirements. Also, Tapbit is currently applying to obtain money transmitter licenses from multiple States within the United States.
What is the Least Amount You Need to Start Trading on Tapbit?
The minimum deposit amount required to start trading on Tapbit is 1 USD. However, the amount may vary depending on the account type and funding method.
What is the Maximum Leverage on Tapbit?
Tapbit offers leverage of up to 150x on derivatives and perpetual contracts with access to over 150 futures contracts for trading.
Does Tapbit Provide Proof of Reserves?
Tapbit does not provide proof of reserves. However, the platform provides a $40 million insurance fund to back any losses that may be incurred on user assets.
Can I Buy Crypto on Tapbit?
You can buy crypto on Tapbit via P2P trading or any third-party payment option. You can securely buy BTC, ETH, and USDT for trading or transfer your cryptos to a private wallet for safekeeping.
