Coinsbit It is a cryptocurrency exchange that accepts fiat currencies. It is part of an ecosystem that also includes an IEO platform, a tool for creating unique payment codes, an exchange, a P2P platform for cryptocurrency lending, and an investment tool, InvestBox. The website operates in 7 languages. It supports the major cryptocurrencies in demand for buying and selling: BTC, ETH, ETC, LTC, BCH, BTG, TUSD The transaction fee is 0.2%.
Our editors analyzed all the advantages and disadvantages of the exchange and conducted a detailed review, taking into account the main factors of interest to the user – requirements, verification, fees, limits, etc.
Official website: coinsbit.io
Briefly about the main thing
- Coinsbit is a cryptocurrency exchange founded in 2018. It offers a wide range of crypto assets for trading and has a simple interface.
- Coinsbit offers several deposit and withdrawal methods, including electronic payment systems and cryptocurrencies.
- The exchange offers the opportunity to participate in various promotions and earn additional funds through... an affiliate program .
- Among the passive income tools available are a staking pool and a platform. YES Peer-to-peer lending is supported.
- Trading functions include spot trading and quick swaps. There are no futures.
We also recommend that you take a look at cryptocurrency exchanges : Binance , Bybit , OKX , cooperative , KuCoin , MEX , Gate.io and others.
The developers highlight support for processing speeds of up to 10,000 transactions, as well as 1 million TCP connections per second, as a key feature. The interface is designed as a single-page application – all the main elements of the Coinsbit website are loaded initially, and additional content can be viewed if needed.
Security on the Coinsbit exchange is guaranteed by the fact that 95% of all user funds are stored in... cryptocurrency cold wallets Hacker attacks are identified and blocked by the Web Application Firewall (WAF), which acts as a protective barrier. If you have any problems, you can contact the support service, which operates 24 hours a day, 7 days a week.
According to the roadmap, the project has many other plans ahead: the CNB token will be launched, new order types will be added, the possibility of deposits via SWIFT/SEPA will be integrated, and the possibility of... margin trading Large asset exchanges (Bitcoin, Ethereum, USD) will be added, a decentralized version of the exchange, DEX Coinsbit, will be launched, etc.
Basic information
| Cryptocurrency Exchange | Coinsbit |
|---|---|
| Official website | Coinsbit.io |
| English language | sim |
| Year of foundation | 2018 |
| Country of registration | Estonia |
| Legal entity | Coinsbit Inc. |
| Address | Global Gateway, 8 Rue de la Perle, Providence, Mahé, Seicheles |
| Swap type | centralized |
| Types of trade | see |
| Token swap | CNB |
| Normalized trading volume | approximately 21 million dollars in 24 hours |
| Visits per month | More than 1,000,000 people |
| Assessment | No. 18 in Coingecko |
| Trading fee | 0,2% |
| Minimum deposit | 0,001 BTC/10 USD |
| Minimum withdrawal amount | 0,002 BTC/15 USD |
| Working with Fiat | Visa/MasterCard bank cards, AdvCash payment system |
| Verification | I needed to expand the limits and gain the ability to withdraw funds. |
| Security | Two-factor authentication, cold wallets, web application firewall |
| Number of currencies/trading pairs | 35/119 |
| Margin Trading | No, it's planned. |
| Criptomoedas | BTC, ETH, ETC, LTC, BCH, BTG, TUSD and so on. |
| Mobile application | No |
| Contacts | https://t.me/coinsbit_chat; https://twitter.com/c0insbit; https://www.instagram.com/coinsbit.io/; https://www.facebook.com/coinsbit.io.cr/ |
| Support | [email protected]; online chat |
| Sim | https://coinsbit.io/ru/ieo-list |
| Ranking according to coinyze.com | 5 out of 10 |
Register
To create an account on Coinsbit, you need to click the “Register” button in the upper right corner of the official website. coinsbit.io .
Next, enter your email, create and confirm a password, agree to the exchange's terms of use and privacy policy. Click "Register".
Solve the captcha by moving the slider to the desired location.
An email will be sent to the specified email address. You need to open it and follow the link to confirm your email.
After this message, you need to click on “Login” and enter your authorization details.
Verification
Account verification on Coinsbit requires you to answer several questions and provide identification documents.
To verify your account, you need to log in to your profile:
Fill in all the suggested fields in both tabs (“Name and contact”, “Documents”) and then submit the request.
You can provide the following documents as an option:
- passport;
- national identity card;
- driver's license.
You will also need to take a high-quality selfie with the document and the piece of paper with the date.
The CoinsBit platform promises the fastest possible verification process. You need to wait for a response from their support service.
Deposit funds into your Coinsbit account.
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 you would like to deposit into your account and click the "Deposit" button next to it.
Copy the provided address, access your cryptocurrency wallet, and send funds to this address. It's important to be careful to send only the correct cryptocurrency.
If you need to make a deposit in fiat currency, the AdvCash payment system Alternatively, MasterCard/Visa cards will be used. You need to select a convenient payment option, enter the amount, and click "Request". Then follow the payment system's tips.
Fiat money is usually credited to the Coinsbit cryptocurrency exchange account instantly, while cryptocurrency is credited after... the transaction to be confirmed by the miners, on average in 15 minutes.
Withdrawal of funds
To withdraw, you can also go to the "Deposit" section, but click the "Withdraw" button next to the selected currency.
In the case of cryptocurrency, you need to enter... the address From your wallet, specify the amount of funds to be withdrawn and click on "Request withdrawal".
Withdrawal of fiat currency is done via AdvCcash or to a Visa/MasterCard. You must specify the payment details (email or card number) and the amount.
Withdrawal fees and limits:
- AdvCash – 2% (minimum 10 USD, maximum 1000 USD)
- card – 5%/
The exit may not be available in three cases:
- if the verification is not approved;
- If 2FA is not configured and the withdrawal exceeds US$500 or equivalent;
- if the withdrawal exceeds US$100,000 or the equivalent.
Trading on the Coinsbit exchange
To buy or sell cryptocurrencies on the Coinsbit exchange, you need to go to the "Trade" tab. On the left side of the screen, there is information about the latest transactions made by users and the overall state of the market. In the center, there is a chart 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 currency from the “Market” column.
Fill out one of the order creation forms – for buying or selling. You must enter the amount of cryptocurrency and the price at which the transaction should be made.
Next, click the “Buy” or “Sell” button. The order will be automatically placed in the order book below and will be fully or partially executed when the corresponding counter-order appears.
All your orders can be viewed in the corresponding section.
You can cancel an unaccepted order at any time in this same section.
The funds received as a result of the application are transferred to the user's balance on the Coinsbit exchange. If the money does not arrive after a long time following the transaction, 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.
Exchanger
The site has a "Swap" section where you can quickly exchange bitcoins for one of the following cryptocurrencies at the indicated rate:
- USD.
- ETH.
- LTC.
- BCH.
- Thanks.
- E2C.
- PAX.
- US dollars.
- USDT.
- CLP.
- TUSD.
Coinsbit Codes
This section allows users to create unique alphanumeric recovery codes (checks, vouchers) for convenient transfer of funds to other users.
To create a code, you need to select the desired currency from those that have a positive balance on the Coinsbit exchange, and then the amount to be transferred. When the code is generated, the balance will be reduced by the specified amount.
IEO by Coinsbit
Like many others cryptocurrency exchanges Coinsbit actively supports and develops its platform to conduct IEOs – Initial Public Offerings Token sales for new projects are conducted there.
Coinsbit has successfully conducted crowdfunding sales of cryptocurrencies such as Meterqubes, Kernel, and Fortem. The launch of four more projects is planned for the near future, and their tokens will appear on the platform's listing after the sale.
Also in the near future, an IEO of CNB's own exchange token is expected, through the sale of which it is planned to raise additional funds for the development of the Coinsbit cryptocurrency exchange. CNB holders will be able to reduce trading fees by up to 50%, as well as receive discounts on additional services – coin listing, participation in the IEO.
The total token issuance will be 1.5 billion CNB. 1/3 of them will be distributed during the airdrop, 1/3 will be sold in the IEO, and 1/3 will remain in the reserve fund.
Referral program
On October 15, 2019, a new referral program went into effect on the Coinsbit exchange, consisting of three levels and accompanied by bonuses in the form of CNB tokens. This promotion will last until December 20.
According to its terms, each user who registers through a referral link receives a welcome bonus of 2,000 CNB, and their referrer, in turn, receives 1,000 CNB. There are three levels in the referral program. Second-level referrals receive a bonus of 500 CNB, third-level referrals – 250 CNB. Thus, if an active user registers through the link, there is a possibility of receiving up to 1750 tokens in total.
In addition, the Coinsbit exchange has another type of referral program, which has unlimited validity.
The permanent program implies a regular income derived from the aforementioned actions:
- 25% of the trading fee for level 1 referrals;
- 15% – starting from the 2nd level;
- 10% - starting from level 3.
You can always view statistics about your referral income in the corresponding section of the coinsbit.io website.
Coinsbit Investment Box
In the “InvestBox” section, anyone can invest their unused coins and receive additional passive income. The tool is primarily designed to promote lesser-known cryptocurrencies and is not an exaggerated or pyramid scheme. All investment payments are made from the special Coinsbit fund.
You can close your investment at any time. The withdrawal fee for earnings is 0.2%. Only verified users with coins in their balance can work with the tool.
P2P Loan
Other Types of earnings with cryptocurrencies On the Coinsbit exchange, you can lend your funds with interest. Or, you can take out a loan for a specific period.
To find an order with the conditions you're interested in, you need to select the "Find order" item in the "P2P Loan" menu. In the search, you can specify all the necessary conditions – terms, amounts, currency, interest rate.
On the homepage, in the same section, you can view statistics about your credit applications, and in the Assets tab – active applications and transaction history.
Advantages and disadvantages
Frequently asked questions
Conclusion
The cryptocurrency exchange Coinsbit has both positive and negative reviews; many popular and reliable publications are writing about it, which increases the level of trust in the site. A large selection of financial instruments and opportunities is another reason to learn more about the exchange. The negative aspects include low liquidity with inflated volumes and the need for verification.