BIT Review: A Safe and Reliable Cryptocurrency Exchange

Is BIT Exchange a fraud? Is it safe? Is it safe and secure? Bit Exchange is an exchange that is registered in the Seychelles. Matrixport launched it on August 3, 2020. Matrixport launched Bit on August 3, 2020. It offers leveraged spot cryptocurrency trading and also allows trading futures and options. Institutional investors have access block trading through Models, ACCX, portfolio margin trades, and market maker protections. Users can trade points, perpetual contracts, options, and margin from one account. They can also use the same account to transfer money between accounts. It is safe with institutional-grade security and uses best-in-class liquidity to create a superior trading experience through risk management.Pros and ConsProsConsLow transaction fees;Ability to trade different instruments from one account;Wide range of assets, including over 100 crypto pairs, USD-M, USDT-M and COIN-M futures, plus USD-M and COIN-M options;Loyalty requirements for the minimum deposit amount;No commission for depositing crypto;Availability of an internal insurance fund;Support margin trading and leveraged spot trading.The slow speed of the web platform leads to a delay in the display of quotes;You cannot deposit using bank cards and electronic payment systems;It charges fees for depositing and withdrawing fiat currency.Services and FeaturesBuy and sell cryptocurrenciesBuying and selling crypto on Bit is similar to other exchanges and is beginner-friendly. To trade on Bit, you must create an account and verify your identity. You can sign up using your email address or phone number. KYC (know your Customer) will verify your identity and protect you from fraud. To trade, you must deposit funds. This will allow you to see the current market price. The spot trading platform offers a simple interface that provides a summary of 24 hour trading information, order book for buy/sell orders, order records, market depth display area, market depth, market high and low, market depth display area, and order area. offers 50X leverage for futures. This is great for advanced traders. Options trading is influenced by underlying assets such as stocks, commodities, foreign currency, and cryptocurrencies. Option contract buyers can purchase or sell the asset, but they are not required to do so. On the other hand, sellers have to buy or sell the option if it expires in money. They are not required to purchase or sell the asset, unlike futures holders. Options buyers or options holders refer to traders who buy call or put options. Option sellers and option writers refers to those who sell them. Deposits and withdrawals: Click on the Asset and choose Spot from the dropdown menu.
Click on the Deposit button.
On the deposit page, choose the amount, asset, and corresponding mainnet (if applicable).
To copy the address or scan QR code to make a deposit, click on the Copy button
Once the deposit has been made, your balance will be updated.
Bit also allows fiat deposits. To withdraw: Click on the Asset and choose Spot from the dropdown menu.
Click the Withdraw button. You can also switch to the account that you wish to withdraw from on our asset page.
On the withdrawal page, choose the account (e.g. futures account) or asset (e.g. USDT).
Select the appropriate mainnet, fill in the address and amount and click on Withdraw.
Verify your identity via the verification popup page, and then submit.
You must ensure that the asset you choose matches the withdrawal address asset. If it doesn’t, it could cause a permanent loss. You must withdraw or deposit more than the minimum withdrawal amount and deposit amount. This will prevent you from getting credited. RMM is an intelligent tool that automatically places orders for your order. It will automatically place orders for you.
Reduce portfolio volatility
By supplying liquidity to the market, you can earn maker fees
To maximize trading opportunities in volatile markets, you can customize the number of single-side orders.
Mobile applicationThe Bit mobile app can also be downloaded on iOS and Android. This Bitcoin wallet app allows you to manage your crypto from anywhere. You access all features – buy, sell, trade, exchange, store, send, receive, earn, anywhere.Instructions for registering an accountFor Mobile AppStep 1: Open BIT app, You may register by email address or mobile number. Click on the top-left user icon. Next, click on the top left hand user icon. Step 2: Select the preferred option email address, or mobile number. Input your password. If you have any referrals, enter the referral code and tick on I agree with the User Agreement. Click Sign up to receive a verification code via email or mobile. For Web UserVisit to our page Registering is as simple as app. Once your account is registered, you can immediately go to the security tab and complete all necessary steps to ensure your account is secure from any wrongdoers. You can also log in to BIT with your Matrixport Account.
Two-Factor Authentication (2FA)
Mobile Phone verification
Fund Password
Management of Withdrawal Address
To withdraw funds, you will need to complete the 2FA and mobile phone verification. BIT takes regulations very seriously. Before you can deposit funds, you must complete an Identity verification. You will need to submit photos of a government-issued passport or driver’s licence, as well as a facial verification. The verification process takes only a few minutes. You can also increase your withdrawal limit by upgrading to KYC verification level. Each level has a different limit. Contact customer service for additional withdrawal limits. Basic Verification and Unverified users have a 0 USD withdrawal limit. Advanced Verification users can withdraw up to 1,000,000 USD per day, while Video Verification users have a limit of 5,000,000 USD per day. The withdrawal limit will constantly update after 24 hours of your last withdrawal.Bit does not have a deposit limit that applies to users from any level of KYC verification.FeesTrading feesEvery time you place an order, the exchange charges you a trading fee. The trading fee is usually a percentage of the trade order’s value. Many exchanges have a split between takers or makers. Takers are those who “take” orders from the order books. Makers are those who “take” an existing order from the order book and add it to the platform’s liquidity. Takers pay 0.07% while makers pay 0.02%. The industry’s average spot trading fee was 0.215%, and the industry average maker fee was 0.162% according to the largest industry report. The average trading fees for exchange are significantly lower than average, regardless of trader group. Bit fees are 0.05% for takers, and 0.02% to makers. They are also lower than the average for contract trading fees. They are very competitive. Withdrawal feesBit exchange charges a withdrawal fee equal to 0.0005 BTC for each withdrawal. This fee is lower than the industry average. The current global industry average is 0.000643 BTC per BTC-withdrawal, so Bit Exchange’s BTC-withdrawal fee is quite competitive.ConclusionAbove are the shares about the Bit cryptocurrency exchange. A trusted platform that offers a wide range of innovative and simple-to-use crypto investment tools for traders of all levels. The exchange is also known for its low transaction fees. The platform’s bright spot is its ability to provide access to all crypto and derivatives on a single platform, both mobile and web-based. Please leave any comments below if you have any suggestions. We encourage you to do your research before investing.Join us to keep track of news: NewsTags: # Cryptocurrencies#MarketsBit.comBitcoinsBlockchaincryptoexchange