Coinsbit: overview of the cryptocurrency exchange, reviews, entrance to the official website coinsbit.io, registration
Coinsbit is a cryptocurrency exchange with support for fiat currencies. It is part of an ecosystem that also includes an IEO platform, a tool for creating unique payment codes, an exchanger, a p2p platform for cryptocurrency lending, and an investment tool InvestBox. The site operates in 7 languages, including Russian. Supports major coins required for buying and selling: BTC, ETH, ETC, LTC, BCH, BTG, TUSD. Operation commission – 0.2%.
Official website: coinsbit.io
The editorial staff of Btcnewsweb.com considered all the advantages and disadvantages of the exchange and made a detailed review.
As the main feature, the creators position support for processing speed up to 10 thousand transactions, as well as 1 million TCP connections every second. The interface is designed as a single page application – all the main elements of the Coinsbit website are initially loaded, and additional content can be viewed if necessary.
Security on the Coinsbit exchange is ensured by the fact that 95% of all user funds are stored in cold cryptocurrency wallets. Hacker attacks are identified and blocked using the WAF web application firewall, which acts as a firewall. If you have any problems, you can contact the support service, which works 24/7.
According to the roadmap, the project still has many plans ahead: the CNB token will be issued, new order types will be added, the possibility of deposits using SWIFT / SEPA will be integrated, the possibility of margin trading with large assets (bitcoin, ethereum, USD) will be added, a decentralized version of the exchange will be launched, DEX Coinsbit etc.
|Year of foundation||2018|
|Country of registration||Estonia|
|Legal entity||EXRT Services OU|
|Address||Narva mnt 7, Kesklinna linnaosa, Tallinn, Harju maakond, 10117|
|Normalized trading volume||about $ 21 million in 24 hours|
|Visits per month||1,000,000+ people|
|Rating||№ 18 по Coingecko|
|Trading commission||0,2 %|
|Minimum deposit||0,001 BTC/10 USD|
|Minimum withdrawal amount||0,002 BTC/15 USD|
|Working with fiat money||bank cards Visa / MasterCard, payment system AdvCash|
|Verification||needed to expand the limits and get the opportunity to withdraw funds|
|Safety||two factor authentication, cold wallets, web application firewall|
|Number of currencies / trading pairs||35/119|
|Margin trading||no, it is planned|
|Cryptocurrencies||BTC, ETH, ETC, LTC, BCH, BTG, TUSD и др.|
|Contacts||https://t.me/coinsbit_chat; https://twitter.com/c0insbit; https://www.instagram.com/coinsbit.io/; https://www.facebook.com/coinsbit.io.cr/|
|Supportemail@example.com; online chat|
|Assessment according to the version of the website Btcnewsweb.com||6,5|
To create an account on Coinsbit, you need to click the “Register” button in the upper right corner on the official website coinsbit.io.
Solve the captcha by moving the slider to the desired location.
A letter will be sent to the specified e-mail. You need to open it and follow the link in order to confirm your email.
After such a message, you need to click “Login” and enter your authorization data.
Verifying an account on Coinsbit requires answering a few questions and providing proof of identity.
To verify your account, you need to go to your profile:
Fill in all the proposed fields on both tabs (“Name and contact”, “Documents”), and then send a request.
From the documents you can provide a choice:
✅ national ID-card;
✅ driver’s license.
You will also need to take a high-quality selfie with a document and a date sheet.
The CoinsBit platform promises the fastest possible verification process. You need to wait for a response from the support team.
Replenishment of an account on Coinsbit
To make a deposit on the Coinsbit exchange, you need to click the corresponding button in the upper right corner with an authorized account.
In the table, find the currency of interest that you would like to deposit into the account, and click the “Deposit” button opposite it.
Copy the provided address, go to your cryptocurrency wallet and send funds to this address. It is important to be careful when sending strictly selected cryptocurrencies.
If you need to make a deposit in fiat, then the AdvCash payment system or MasterCard / Visa cards are used. You need to choose a convenient payment option, enter the amount and click “Request”. Then follow the instructions of the payment system.
Fiat is credited to the account of the Coinsbit crypto exchange, as a rule, instantly, and the cryptocurrency – after the transaction is confirmed by the miners, on average after 15 minutes.
Only owners of a verified account can withdraw money on the Coinsbit cryptocurrency exchange.
For withdrawal, you can also go to the “Deposit” section, but opposite the selected coin, click the “Withdraw” button.
In the case of cryptocurrency, you must enter the address of your wallet, indicate the amount of funds to be withdrawn and click “Request to withdraw funds”.
Fiat currency withdrawal is carried out through AdvCcash or to a Visa / MasterCard. It is necessary to indicate payment details (email or card number) and the amount.
Commissions and withdrawal limits:
✅ AdvCash – 2% (min 10 USD, max 1000 USD) $
✅ card – 5% /
The output may not be available in three cases:
✅ if verification is not passed;
✅ if 2FA is not configured, and the withdrawal exceeds $ 500 or an equivalent amount;
✅ if the withdrawal exceeds $ 100,000 or an equivalent amount.
Trading on the Coinsbit exchange
To buy or sell cryptocurrency on the Coinsbit exchange, you need to go to the “Trades” tab. On the left side of the screen there is information about the latest transactions performed by users and the general state of the market. In the center is a graph where you can track changes in the rate of the selected currency pair. Buy and sell orders are created below the chart.
Select the desired coin in the “Market” column.
Fill out one of the order creation forms – to buy or to sell. You must enter the amount of cryptocurrency and the cost at which the transaction should be made.
Then click the Buy or Sell button. The order will automatically be placed in the order book located below, and will be fully or partially executed when the corresponding opposite one appears.
All your orders can be seen in the corresponding section.
At any time from the same section, you can cancel an unaccepted order.
The funds received as a result of the application are transferred to the user’s balance on the Coinsbit exchange. If, for a long time after the transaction, the money has not yet arrived, then you need to write to the support service and attach the transaction hash for verification.
You can view all closed orders in the “History” section.
The site has a section “Exchange”, where you can quickly change bitcoin to one of the following currencies at the declared rate:
The section allows users to create unique alphanumeric recoverable codes (checks, vouchers) for easy transfer of funds to other users. For example, the EXMO exchange has an Ex-code.
To create a code, you need to select the desired currency from those that have a positive balance on the Coinsbit exchange, then the amount to transfer. At the moment of generating the code, the balance will be reduced by the specified amount.
Like many other cryptocurrency exchanges, Coinsbit actively maintains and develops an IEO platform – an initial exchange offering. There are sales of tokens of new projects.
Crowdsales of such currencies as Meterqubes, Kernel, Fortem have successfully passed on Coinsbit. In the near future, it is planned to launch four more projects, the tokens of which, after the sale, will appear in the site’s listing.
Also in the near future, IEO of its own exchange token CNB is expected, through the sale of which it is planned to raise additional funds for the development of the Coinsbit cryptocurrency exchange. Owners of CNB will be able to reduce the volume of trading commissions by up to 50%, as well as receive discounts on additional services – listing of coins, participation in IEO.
The total emission of tokens will amount to 1.5 billion CNB. 1/3 of them will be distributed during the airdrop, 1/3 will be sold on IEO, 1/3 will remain in the reserve fund.
On October 15, 2019, a new referral program, consisting of three levels and accompanied by bonuses in the form of CNB tokens, entered into force on the Coinsbit exchange. This promotion will last until December 20.
According to its terms, each user who signs up using a referral link receives a welcome bonus of 2000 CNB, and his referrer, in turn, receives 1000 CNB. The referral program has three levels. Bonus 500 CNB comes from referrals of the second level, from the third – 250 CNB. Thus, if one active user is registered using the link, then there is an opportunity to receive up to 1750 tokens in total.
Also on the Coinsbit exchange there is another type of referral program, the duration of which is unlimited.
The permanent program implies regular income from the actions of referrals:
✅ 25% of the commission from the trade of 1st level referrals;
✅ 15% – from the 2nd level;
✅ 10% – from the 3rd level.
You can always see statistics on your referral income in the corresponding section of the coinsbit.io website.
In the “InvestBox” section, anyone can invest their unused coins and receive additional passive income. The tool is designed primarily to promote little-known cryptocurrencies and is not a hype or pyramid scheme. All investment payments come from the Coinsbit special fund.
You can close an investment at any time. The commission for the withdrawal of earnings is 0.2%. Only verified users who have coins on their balance can work with the tool.
Another type of cryptocurrency earnings on the Coinsbit exchange is that you can give your funds on credit at interest. Or, accordingly, take a loan for a certain period.
To find an order with the conditions of interest, you need to select the “Find order” item in the “P2p-lending” menu item. In the search, you can specify all the necessary conditions – terms, volumes, currency, interest rate.
On the “Home” page in the same section, you can view statistics on your credit orders, and on the “Assets” tab – active orders and transaction history.
Advantages and disadvantages
✅ Great functionality that is constantly being updated.
✅ There are many opportunities for active or passive earnings.
✅ Three-level referral program, and until December 20, 2019 – the opportunity to earn CNB tokens on it.
✅ Convenient and intuitive interface.
✅ Fast working coinsbit.io site – everything loads instantly.
✅ Low fees and the ability to save money with CNB tokens.
✅ The site has a chat where you can chat with other users.
✅ Technical support 24/7.
✅ The ability to work with fiat.
✅ Active communication of the team with users in social networks.
✅ Informative roadmap until December 2020.
❌ Not too large selection of available currencies.
❌ There is no information about the team.
❌ Facts of overstatement of trade volumes are recorded.
❌ Fiat money withdrawal is impossible without verification.
The Coinsbit cryptocurrency exchange has both negative and positive reviews, many popular and reputable publications are now writing about it, which increases the level of trust in the site. And a large selection of financial instruments and opportunities is another reason to get to know the exchange better. Negative points – low liquidity with “winding” volumes and the need for verification.