Toobit Exchange Review: Features & Pros & Cons For 2024

This article will discuss Toobit Exchange, a crypto trading platform.

Its features will be explored, including spot and futures trading, its competitive fee structure and security measures.

Toobit has options for everyone, whether they are beginners or experienced traders. Let us now get into the unique aspects of Toobit.

Introduction

Toobit Exchange is a cryptocurrency centralized exchange (CEX) based in Cayman and licensed under FinCEN. It supports spot trading, derivatives, copy trading, etc.

Toobit’s team is distributed across different world regions, including Russia, South Korea and Turkey.

Committed to providing investors with a secure, efficient, and diverse trading experience, Toobit offers a range of products and services to meet the needs of different traders.

The platform supports popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin and other high-quality tokens.

Furthermore, Toobit plans to launch OTC trading, making it easier for users to conduct large-scale transactions.

To ensure seamless integration with the platform, Toobit provides API services, enabling users to automate their trading with their software.

Toobit Exchange Quick Facts

How to Sign Up on Toobit Exchange?

Here are some instructions for you to follow to sign up for Toobit Exchange:

Visit the Website: Go to the official website of Toobit Exchange.

Click on Sign Up: Look for a button that usually appears at the top right corner with the name “Sign Up”.

Enter Your Details: Give your email address, provide a strong password, and accept the terms and conditions.

Verification: Open your email for a confirmation link to an active account.

Complete Profile: If required, log in and fill out your profile, including verifying your identity.

Toobit Exchange Fees

Toobit Exchange offers users competitive trading fees, featuring a tiered VIP fee structure that lowers costs based on trading volume.

For spot trading, the standard fee is 0.2% for both makers and takers, with potential reductions to as low as 0.04% for makers and 0.05% for takers.

In futures trading, the initial fees are 0.04% for makers and 0.06% for takers.

However, these can be reduced to as low as 0.001% for makers and 0.03% for takers, depending on your 30-day trading volume.

These low fees make Toobit an appealing choice for those interested in advanced derivatives trading.

Which Coins Are Supported on Toobit?

Toobit has over 100 crypto tokens listed, including major coins like BTC, ETH, SOL, MATIC, APE, LTC, DOGE, AVAX, DOT, SHIB and more.

How to Trade on Toobit

To register and start trading on Toobit Exchange, a user should first create an account on the platform, which requires entering an email and establishing a secure password. Once done with this procedure, one can explore various options, including spot, future and copy trading.

Spot Trading

Buy virtual currencies like Bitcoin or other cryptocurrencies and trade them against different altcoins.

Futures Trading

Speculate on cryptos prices without owning them through long-term or short positions based on the market trends.

Demo Trading

New users may test their trading skills without risking finances by trying Toobit’s trading features.

Over-the-counter (OTC) Trading

Large trades between parties can be executed straightaway by passing public exchanges.

Copy Trading

Copying seasoned traders’ strategies and trades makes it easy to join the crypto market.

Toobit Exchange Android & IOS Mobile App

Toobit Exchange allows Bitcoin, Ethereum and other digital assets to be bought or sold on a cryptocurrency exchange platform.

Just install it right away on your iOS or Android mobile app. It’s supposed to make trading easy and offers a user-friendly environment.

You can either download the app’s official website by scanning its QR code or visit it if interested.

Toobit Exchange Affiliate Program

Toobit has introduced an Affiliate Program that lets you earn commissions by inviting users to trade on the platform. Here is how it works.

Apply: “Fill out your application, and the team will evaluate it within 24 hours. Your application will be approved if you meet the requirements.”

Share: Design your customized referral links for brokers and tell acquaintances and other users about them.

Earn: Once new customers register at Toobit via your associate URL, you become entitled to a commission based on each trade they make. The best part? There is no limit on earnings!

You can promote your referral link on social media, communities, or any other platform to gain a following.

Toobit Exchange Restricted Countries

Toobit provides services to customers in over 100 countries, except for countries with service restrictions, such as Iraq, Congo, Mainland China, etc.

Is Toobit legit?

Although Toobit seems to be a genuine cryptocurrency exchange, it has some unique trading options.

For instance, it offers futures, spot, and copy trading.

The website was created to ensure user safety by having 2FA and encrypted transactions as features.

Moreover, competitive rates and reliable fee structures increase its trustworthiness and transparency.

Nevertheless, like any other platform, online users must investigate its reputation and keep an eye on new reviews from watchdogs that regulate such services.

Security and Regulation as Practiced by Toobit Exchange

Toobit Exchange has a powerful sense of security as the platform incorporates modern security measures such as cold storage, two-factor authentication, email verification for every login and many more to ensure a safe and trustworthy trading environment for users.

Furthermore, Toobit is licensed and registered with FinCEN as a Money Services Business (MSB).

Toobit Customer Support

For its users, Toobit offers dependable customer support at any time via their chat services or email.

The team of customer service specialists and technicians at the help desk consists of seasoned personnel who are always prepared to provide fast and accurate assistance in technicalities or trade-related issues.

Toobit Alternative Exchanges

Coinbase

Coinbase is aa beginner-friendly exchange with a user interface, solid security measures,, and a good track record that allowsows easy access to popular cryptos.

KuCoin

The fees are competitive, offering futures trading, staking and various altcoins.

Kraken

A secure platform that has existed for a long time offers spot and futures trading on multiple cryptocurrencies.

Bybit

Bybit is a platform suitable for futures contracts with competitive fees and leverage options.

Final Verdict

Toobit is a versatile cryptocurrency exchange that offers different kinds of trading, including spot, futures and copy trading.

To cater to novices and professional traders, the platform has competitive tariffs and user security as its main priorities.

Users must review their requirements prudently and carry out extensive research before selecting any platform.

As you would expect from an exchange, comprehending the features, fees, and security protocols will guarantee success when using Toobit.