CoinBits is a cryptocurrency exchange that allows traders to buy, sell, and store Bitcoins. To help try and ensure the security of your Bitcoin, they work with their trusted partner, Kraken. With the services of Kraken, 95% of your Bitcoin is stored offline, while 5% is stored on online servers. This security protocol is designed to try and keep Bitcoins safe and virtually impenetrable from anyone or anything until you are ready to withdraw your money.
CoinBits Review, Pros & Cons
- Proprietary trading platform
- Zero commissions
- Cryptocurrency funding
- Not regulated
- Cryptocurrency trading only
- Limited educational resources
- No standalone trading tools
In this detailed CoinBits review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Founded in 2017, CoinBits is a digital asset exchange that offers a swift and easy way to trade bitcoin. The Exchange offers a way to invest in Bitcoin with no commissions on any of your investments. At CoinBits, bank-level encryption technology is used to help protect your data, and SSL is in place to safeguard your privacy and internet connection. Traders benefit from instant withdrawals, no hidden fees and more.
There is no regulatory information on the Exchange’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
CoinBits allows traders from different parts of the globe to open an account with provided that doing so would not be contrary to local laws or regulations.
Some CoinBits features and products mentioned within this CoinBits review may not be available to traders from certain countries because of legal restrictions.
The Exchange provides traders with an in-house-developed trading platform that is designed to ensure seamless trading of Bitcoin. The platform has built-in functionalities and allows you to be in control at all times: it can automatically buy Bitcoin for you but you can pause your round-ups and request to withdraw your money at any time.
The CoinBits trading platform can round up your everyday credit card purchases to the nearest dollar and invest the extra cents, if you widh to do so. It is a simple platform that is available on the web and mobile versions.
CoinBits Trading Tools
There are no standalone trading tools on the Exchange’s website at the moment.
The Exchange’s website contains an FAQ section that answers some of the most common questions that traders may have.
CoinBits offers cryptocurrency enthusiasts the opportunity to trade Bitcoins.
CoinBits Accounts & Fees
Traders are allowed to create a single live trading account. The account offers zero commission and leverage of up to 1:10.
It would be against the Exchange’s terms and conditions to open multiple accounts for a single user.
As broker fees can vary and change, there may be additional fees that are not listed in this CoinBits review. It is imperative to ensure that you check and understand all of the latest information before you open a CoinBits broker account for online trading.
Traders can send all general, technical, and account-related inquiries to the exchange’s knowledgeable client support team that is polite and prompt in response. They can be reached through email, social media, or the Live Chat function that is powered by Zendesk.
CoinBits Deposit & Withdrawal
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank transfers, credit/debit cards, and cryptocurrency.
CoinBits Account Opening
Opening a trading account with CoinBits involves an easy process: simply click on the ‘Invest Now’ button at the homepage of the website and proceed to properly fill the form. Then follow the other instructions as prompted.
It is imperative to ensure that when you are going through a broker application, you read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
CoinBits is an online financial services provider that offers access to trade bitcoin using an easy-to-use trading platform. Traders benefit from instant withdrawals, no hidden fees and more. Traders are allowed to open one live trading account, and an FAQ section is available on the website. However, there is no regulatory information on the Exchange’s website at the moment.
Digital assets are highly volatile and come with a high risk of losing your funds due to leverage. Ensure you invest only the amount you could afford to lose.