Established in 2017, CoinBits is a digital assets Exchange that partners with Kraken to ensure the security of your digital coins whilst allowing you to trade and store Bitcoins. The Exchange holds 95% of clients’ Bitcoin offline, and 5% is stored on online servers, thus ensuring the utmost of clients’ Bitcoins. They do not charge any commissions on their trades. CoinBits uses bank-level encryption and SSL to protect clients’ data and privacy. Other essential benefits of the Exchange include instant withdrawals, no hidden fees and more. The minimum deposit required to start trading is $1.
CoinBits Review Introduction
In this CoinBits review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my broker reviews. You can also use my free trading tool to compare brokers, including CoinBits.
CoinBits Platforms & Tools
At CoinBits, all trading activities are carried out using an in-house-developed trading platform. The proprietary trading platform is designed to ensure hassle-free trading Bitcoin. In addition, the platform has a plethora of useful trading tools to enhance the overall trading experience of clients. For example, with the CoinBits trading platform, traders can round up their daily credit card purchases to the nearest dollar and invest the extra cents. The CoinBits trading platform is available as a WebTrader that runs directly on modern web browsers — Chrome, Safari, Firefox, and Edge — without needing to install or download additional software and a mobile app that is compatible with Android and iOS devices. The mobile app is best suited for traders who wish to place trades and check trading positions using their mobile handheld devices while on the go, provided there is an internet connection.
CoinBits Research & Education
There is an FAQ section on the Exchange’s website; it answers some of the most common questions that traders may have.
CoinBits Trading Accounts
Traders are allowed to create a single live trading account. The account offers zero commission and leverage of up to 1:10. The minimum deposit required to start trading is $1.
CoinBits Account Funding
CoinBits process all account deposits and withdrawal requests using any of the following payment methods: bank transfers, credit/debit cards, and cryptocurrency.
CoinBits Customer Service
Traders can send their general, technical, and account-related inquiries to a competent client support team that is prompt in response. The support team can be reached through email, social media, or the Live Chat function that is powered by Zendesk.
There is no regulatory information on the Exchange’s website at the moment. The lack of regulation could discourage prospective clients from opening an account with the broker.
CoinBits Review Summary
Founded in 2017 in the United States of America, CoinBits is an online financial services provider that offers access to trade Bitcoin using an easy-to-use trading platform that is available in web and mobile versions. The Exchange provides traders with favourable trading conditions, such as leverage of up to 1:10, low variable spreads, zero commissions, instant withdrawals, no hidden fees and more. Traders can open one live trading account, and an FAQ section is available on the website. However, there is no regulatory information on the Exchange’s website at the moment. The minimum deposit required to start trading is $1.
It is worth mentioning that some of the trading products and services in this CoinBits review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the CoinBits broker website, which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.