Toobit is a relatively new cryptocurrency exchange platform that supports trading of a wide range of digital assets.
However, in a market filled with crypto brokers, is Toobit the ideal platform for starting your crypto trading journey? This comprehensive review delves into every aspect of Toobit, from its fee structure to its features, security measures, user interface, and more to help you determine if Toobit is the right platform for your trades.
| Stats | Toobit |
|---|---|
| 🚀 Founded | 2022 |
| 🌐 Headquarters | Cayman Islands |
| 🔎 Founder | Unknown |
| 👤 Active Users | 1+ m |
| 🪙 Supported Cryptos | 120+ |
| 🪙 Futures Contracts | 80+ |
| 🔁 Spot Fees (maker/taker) | 0.2% / 0.2% |
| 🔁 Futures Fees (maker/taker) | 0.04% / 0.06% |
| 📈 Max Leverage | 150x |
| 🕵️ KYC Verification | Not Required |
| 📱 Mobile App | Yes |
| ⭐ Rating | 4.7/5 |
| 💰 Bonus | $9.210 (Claim Now) |
Toobit Overview
Toobit was launched in 2022 and has its headquarters located in the Cayman Islands. The platform is committed to providing a secure, efficient, and diverse trading experience for traders and investors, with a range of products and services designed to meet the needs of different types of traders.
Users have access to over 80 cryptos and over 100 trading pairs for seamless trading on the platform. Toobit also supports trading of digital assets, NFTs, contracts, options, and crypto indices.
Furthermore, Toobit is one of the best crypto exchanges for earning passive income. They offer exclusive welcome bonuses, affiliate programs, referral programs, bonus tasks, and many more to ensure that users can earn more income while trading on the platform. New Users can earn up to 9,210 USDT by just performing tasks on the platform.
Additionally, Toobit offers users a simple trading interface with advanced trading tools including order books, technical indicators, real-time charts, and many more. This makes it a great choice for both beginners and experienced traders.
Toobit offers its trading platform through a web-based exchange and a mobile app for trading on the go. The mobile app is available for both IOS and Android users with a 4.5/5 star rating on the Google Play Store. This shows that the mobile app is very user-friendly and very efficient for trading.
Toobit Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ User-friendly trading interface | ❌ Relatively new crypto exchange |
| ✅ Offers advanced trading tools | ❌ Limited amount of supported cryptos |
| ✅ Low trading fees | ❌ No proof of reserves |
| ✅ Wide variety of passive income products | |
| ✅ 24/7 customer support via live chat and email | |
| ✅ Offers up to 150x leverage on derivatives and perpetual contracts | |
| ✅ Adequate security |
Toobit Sign Up and KYC
Toobit offers an easy-to-navigate, user-friendly platform. Creating an account on Toobit is an easy and straightforward process.
It is important to note that KYC is not compulsory for users to deposit, trade and withdraw crypto freely on toobit. Toobit is a great no-KYC crypto exchange. However, you can follow the step-by-step guidelines below to sign up and complete your KYC verification.
- Visit the Toobit website (Click here)
- Click on “Sign Up” on the homepage
- Provide a valid email address or phone number and create your password. Then click on “Create account”
- A code will be sent to your mailbox. Provide the code to verify your email address. After which, you can now access your account
- After your account is created, you’ll be required to verify your identity to enjoy all the platform’s features and remove any restrictions on deposits and withdrawals.
- To verify your identity, you must upload your personal information and a valid government-issued ID.
- After your identity is verified, you can deposit funds and start trading without restrictions on the platform.
Toobit Products, Services, and Features
Trading Features:
Toobit offers a range of trading products, including spot trading, perpetual contract trading, and planned OTC trading. Users have access to over 80 cryptos and over 100 trading pairs for active trading.
The Toobit trading interface is not only beginner-friendly and easy to navigate, but it also features technical indicators, advanced order types, real-time charts, and many more making it a great choice for both beginners and experienced traders.
Moreover, Toobit has a beginner guide section that contains adequate educational materials including tutorials and guides to help beginners and inexperienced traders to understand cryptocurrencies and navigate the platform easier.
Toobit also stands out with its advanced derivatives trading option, offering users low trading fees and high leverage of up to 150x on derivatives and perpetual contracts, making it easy for traders to maximize profits in market fluctuations.
Additionally, Toobit also offers a comprehensive copy trading option for users to earn income from implementing the trades of top traders and investors on the platform. This serves as a means for beginners and inexperienced traders to earn and learn how to trade by copying other top traders.
Passive income Products:
Toobit is one of the best crypto exchanges in terms of passive income products.
Users can earn passive income through Copy trading; whereby users earn income from implementing the trades of top traders and investors on the platform.
Additionally, the Toobit Earn section offers users Annual Percentage Yield for holding their coins or tokens through crypto savings.
Users can also earn from Toobit’s affiliate program, referral program, copy trading, and many more.
The Toobit referral program enables users to earn up to 40% commission on the trades of their invitees. All you have to do is join the referral program and get your referral code or link.
Share your referral code or link with family, friends, or other traders and earn up to 40% commission on all their trades when they sign up with your code.
Similarly, the Toobit affiliate program also offers users referral commissions and up to 5400 USDT in rewards for users who refer a specific number of people to join the platform using their referral code. The more people you invite to register on Toobit, the higher your commission and rewards.
Toobit Trading Fees
Toobit offers users low trading fees with a tiered VIP fee structure that can reduce fees based on trading volume. On the spot market, Toobit offers a fee of 0.2% for both makers and takers, with a chance to reduce fees down to 0.04% for makers and 0.05% for takers.
For futures trading, the fee is 0.04% for makers and 0.06% for takers, with a chance to reduce fees down to 0.001% for makers and 0.03% for takers based on your 30 day trading volumee.
This makes Toobit an attractive platform for advanced derivatives trading with low fees.
Toobit Deposit and Withdrawal Methods
Toobit only supports cryptocurrencies for deposits and withdrawals. Users can deposit or withdraw any of the supported cryptos on the platform. However, users can also purchase crypto with credit or debit cards.
To buy crypto via credit/debit card, Select the digital currency to be purchased and the fiat to be paid, then enter the purchase amount. Next, Choose a third-party service provider, fill in the information, and complete the payment on their website.
The third-party payment providers include Advcash, MoonPay, and Simplex with Advcash being the cheapest option for USD and GBP. After payment is completed and verified, your crypto will top up on your available balance and can now be used to trade.
For direct crypto deposits, select the coin and desired network, and then a unique address will be given to you. Send the selected crypto to this address and it will top up on your available balance after confirmation.
Similarly, Toobit only supports cryptocurrencies for withdrawals. Users can withdraw any of the supported cryptos on the platform. To withdraw, select the desired coin and blockchain network, submit your address, and click ‘withdraw’.
It is important to note that, unlike crypto deposits, crypto withdrawals attract fees that may vary depending on the coin and the selected blockchain network.
Toobit Security and Regulation
Toobit takes security very seriously as the platform implements advanced security measures including cold storage, two-factor authentication, email verification on every login, and many more to ensure a safe and reliable trading environment for users.
Additionally, Toobit is registered and licensed as a Money Services Business (MSB) under FinCEN.
Toobit Customer Support
Toobit offers reliable 24/7 customer support for users via live chat and email. The customer support team is made up of experienced and professional customer service specialists and technicians who are ready to provide quick and accurate technical and trading support and assistance.
Conclusion
Toobit stands out as a comprehensive crypto broker, going beyond typical offerings on the crypto market. Whether you’re a beginner or an experienced trader, Toobit caters to all levels of expertise.
What makes it particularly enjoyable is the wide variety of income-earning opportunities on the platform. This makes it very appealing for users who want to earn more income aside from trading profits.
Toobit is also equipped with advanced trading tools for active trading. So whether you’re looking for a user-friendly experience or want to delve into more advanced trading, Toobit offers a comprehensive solution to meet all your needs.
Why Choose Toobit?
As a crypto trader or investor, the following are some important reasons why you could choose Toobit for your trades.
- Low Futures Trading Fees: Toobit offers one of the lowest trading fees in the futures market. With a standard fee of 0.04% for makers and 0.06% for takers, and leverage of up to 150x on derivatives and perpetual contracts, Toobit is a very attractive option for advanced futures trading.
- User-Friendly Interface: Toobit offers a very user-friendly trading interface that is easy to navigate for beginners. The platform also features advanced trading tools including order books, real-time charts, and many more making it an attractive choice for advanced traders.
- Wide Variety of Passive Income Products: Toobit has been established as one of the best crypto exchanges for earning passive income. The platform offers various ways to earn income including copy trading, bonus tasks, referral programs, affiliate programs, and many more.
- Adequate Security: Toobit is known for its adequate security as it implements advanced security measures including encryption, cold storage, two-factor authentication, and many more. This makes it a secure and reliable exchange for crypto trading.
- 24/7 Customer Support: Toobit offers reliable customer services to its users to ensure a seamless trading experience on the platform.
FAQs
Is Toobit Safe?
Yes, Toobit is a safe and reliable trading platform equipped with adequate security measures to ensure the safety of user assets.
Can you deposit fiat on Toobit?
No, fiat currencies are not supported for deposits on Toobit. This means that Toobit is designed for users who already own some cryptocurrency. However, you can purchase crypto via credit/debit cards on the platform.
Is Toobit Registered and Licensed?
Yes, Toobit has officially obtained the financial license supervised and issued by Money Services Business (MSB) in the United States, which enables it to carry out legal and compliant crypto-asset financial transaction business across all 50 states of the United States, providing convenience for global users.
Does Toobit Require KYC to trade?
No, KYC is not required on Toobit in order to deposit, withdraw, or trade cryptocurrencies on the platform.
Can you Buy Crypto on Toobit?
Yes, you can buy crypto using your debit or credit cards via any of the third-party payment providers on Toobit. The process is very secure and reliable.
Does Toobit have a mobile app?
Yes, Toobit has a mobile app for trading on the go. The exchange’s app is available for both IOS and Android users with a 4.5/5 star rating on the Google Play Store.
What is the Maximum Leverage on Tapbit?
Tapbit offers leverage of up to 150x on derivatives and perpetual contracts with access to over 100 trading pairs for active trading.
