Azbit is a new generation exchange offering the most in-demand services on the market. Spot exchange, margin trading, crypto-backed loans.
What is Azbit?
Azbit is a centralized cryptocurrency exchange that commenced operations in 2019. Headquartered in Seychelles, the platform boasts notable support from Roger Ver, as highlighted on its landing page during its ICO.
User Base and Trading Volume:
As of February 13, 2021, Azbit reported 8,629 users with a 24-hour trading volume of USD 13.4 million, contrasting with Coinmarketcap's figure of USD 5.9 million. By December 2, 2021, the trading volume surged to USD 240.6 million, underscoring substantial growth.
Liquidity and Order Book Depth:
High trading volume and robust order book depth are pivotal for traders. Azbit's increased liquidity, evident in the surge in trading volume, enhances user experience by facilitating smooth buying and selling.
US-Investors Considerations:
Navigating regulatory challenges, Azbit's stance on permitting US investors remains unclear. The Securities Exchange Commission (SEC) scrutiny compels exchanges to tread carefully with US involvement, urging investors to independently assess the permissibility of trading on Azbit.
Trading Fees:
Azbit employs flat fees for both takers and makers in spot trading, with a rate of 0.10%. This places Azbit below the historical global industry averages of 0.20-0.25%, aligning with emerging averages of 0.10%-0.15% in the industry.
Withdrawal Fees:
Azbit imposes a withdrawal fee of 0.001 BTC per BTC withdrawal, nearly double the current global industry average of 0.00057 BTC per BTC withdrawal. Traders should factor this higher-than-average cost into their decision-making process.
Deposit Methods:
Azbit exclusively accepts cryptocurrency deposits. For users without existing crypto holdings, the platform suggests starting with exchanges offering fiat on-ramps, enabling the purchase of cryptocurrency for subsequent transfer to Azbit.
In summary, Azbit, with its notable growth, competitive trading fees, and support from figures like Roger Ver, presents an option for cryptocurrency traders. However, potential users should carefully evaluate factors like withdrawal fees and regulatory considerations before engaging with the platform.
What are the trading fees on Azbit?
Azbit employs flat fees for both takers and makers in spot trading, with a rate of 0.10%. This places Azbit below the historical global industry averages of 0.20-0.25%, aligning with emerging averages of 0.10%-0.15% in the industry.
Does Azbit offer leverage trading?
Azbit doesn’t offer leveraged trading.
Is Azbit safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
