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Friday, April 19, 2024

Flybit Cryptocurrency Exchange Review: It Is Legit & Secure Exchange

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About Flybit Cryptocurrency Exchange

Flybit Cryptocurrency Exchange is a platform from South Korea and has been operating since 2017. It’s available in three languages: English, Korean and Chinese. Flybit is a blockchain financial service platform that focuses on making a leap forward and increasing brand value.
They plan to focus the capabilities on creating a positive flow in the virtual asset industry.
Since its establishment in 2017, they have launched various new services to provide stable services. They plan to strengthen competitiveness so that they can stand out in not only domestic but also global markets.

Leading in constant challenge and innovation, providing the best service to customers, contribute to the development of the virtual asset industry. Global leading virtual asset exchange
To build a foundation as a virtual asset exchange that is trusted by customers and possesses technical strengths to become an emerging powerhouse in virtual asset exchange industry.

Basic Information

Exchange NameFlybit Cryptocurrency Exchange
Exchange TypeCryptocurrency
Deposit FeeFree
Maker Fee0.10%
Taker Fee0.10%
Withdraw Fee0.001 BTC

How To Sign Up & Start Trading

You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

Flybit Exchange Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

Flybit Exchange charges what they call flat fees, meaning that both the takers and the makers pay the same fee when it comes to spot trading: 0.10%. These spot trading taker fees are a bit below the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. 

Flybit Exchange Withdrawal fees

Flybit Cryptocurrency Exchange charges a withdrawal fee of 0.001 BTC per BTC-withdrawal. The current global industry average is 0.00053 BTC per BTC-withdrawal according to this report, which is the latest such report prepared on the subject to knowledge. Accordingly, the withdrawal fees charged by this platform are on the high end.

Deposit Methods

To the understanding, in order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Flybit Exchange is cryptocurrency. However, if you really like Flybit Exchange but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange.

Core Values ​​of Flybit

To be the best

Adherance to Excellence based on talent and competitive technology, leading innovation to provide the best systems and services continuously.

For clients first

All standards of thinking and behavior are placed on customers, and trust with customers is established. Thinking from the customer’s point of view is the highest priority to strive to create customer value.

Pursuit of win win groth

Pursuit of win-win growth with users, projects, exchanges, employees, and all stakeholders of the FLYBIT ecosystem we strive to create an environment that prospers.

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Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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