What is Coinsbit?
Coinsbit, a centralized exchange established in August 2018 and headquartered in Estonia, has emerged as a prominent player in the cryptocurrency landscape. Boasting a user base of 2,000,000, the platform provides a range of services, including cryptocurrency trading, fiat gateways, OTC trading, P2P-lending, and more. While Coinsbit is not currently labeled as a trusted exchange, it's important to note that this doesn't automatically imply it is unsafe. Prospective users should conduct thorough research on the exchange's security practices and track record before depositing any funds.
Deposit Methods:
Funding your Coinsbit account is possible through cryptocurrency deposits. Additionally, fiat currency can be deposited via bank transfers. This versatility allows users to choose their preferred method based on their financial preferences.
Fiat Deposits on Coinsbit:
Coinsbit supports fiat deposits in Turkish Lira, Euro, Ukrainian Hryvnia, and British Pound Sterling. This feature makes Coinsbit accessible to those who do not yet own any cryptocurrency, as they can initiate their journey by depositing fiat currency and subsequently purchasing their first cryptocurrency.
Credit Card Transactions:
As of now, Coinsbit does not facilitate the purchase of cryptocurrency with credit cards. Users seeking this payment method are advised to explore alternative exchanges listed in our recommendations for credit card transactions.
Trading with USDT Stablecoin:
Coinsbit offers trading with the USDT stablecoin across 77 trading pairs. In the past 24 hours, the exchange processed a substantial $772.38 million in USDT trading volume.
Mobile App Availability:
At present, Coinsbit does not provide an official mobile app for users. This aspect is crucial for those who prefer trading on the go and may influence their choice of exchange.
Exchange Type:
Coinsbit operates as a centralized cryptocurrency exchange. This means that the platform manages user deposits and oversees the trades conducted on the platform. Centralized exchanges cater to a broad spectrum of users, from beginners to experienced traders.
Cryptocurrency Variety:
Coinsbit offers a diverse range of trading options, with 81 tokens available for trading across 121 trading pairs. The exchange has demonstrated considerable activity, handling $813.57 million worth of trades in the last 24 hours.
Is Coinsbit 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.
