What is Foxbit?
Foxbit is a centralized cryptocurrency exchange based in Brazil, founded in 2014. This platform caters to individuals interested in trading various cryptocurrencies.
US-Investor Considerations
While Foxbit appears to accommodate US investors, it is advisable for them to conduct an independent assessment regarding potential issues related to their residency or citizenship.
Mobile Support
For users who prefer the convenience of trading on their mobile devices, Foxbit provides a mobile application, allowing for seamless cryptocurrency trading on the go.
Trading View
Different exchanges offer varying trading views, each tailored to different preferences. Foxbit's trading view typically includes an order book, price chart, and order history. Users are encouraged to explore and choose a trading view that aligns with their individual preferences.
Trading Fees
Foxbit imposes trading fees for both makers and takers. Takers, who match existing orders, are charged a fee of 0.50%, which is double the global industry average. In contrast, makers, who provide liquidity to the market, enjoy a competitive edge with a lower fee of 0.25%.
Withdrawal Fees
Withdrawal fees on Foxbit are charged at 0.0004 BTC per BTC withdrawal. This fee is approximately 20% below the global industry average, making it a cost-effective option for users looking to withdraw their funds.
Deposit Methods
Foxbit supports wire transfer as a deposit method, offering a straightforward way for users to fund their accounts. However, it's important to note that credit card deposits are not accepted on the platform.
What are the trading fees on Foxbit?
Foxbit imposes trading fees for both makers and takers. Takers, who match existing orders, are charged a fee of 0.50%, which is double the global industry average. In contrast, makers, who provide liquidity to the market, enjoy a competitive edge with a lower fee of 0.25%.
Does Foxbit offer leverage trading?
Foxbit does not currently offer margin trading or leverage options.
Is Foxbit 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.
