Txbit.io is an exchange registered in the Netherlands, with headquarters in Amsterdam. Netherlands has been one of the main cryptocurrency countries in Europe for a long time. Other exchanges from the Netherlands include Coinmerce, LiteBit.eu, Bitonic, Deribit, Nocks, NLexch, Bitladon and Bitrush.
Txbit Exchange is a cryptocurrency exchange for the everyday trader. Built and based in the Netherlands. Our philosophy is simple; Security, Privacy and Reliability. All you need is an email address to use full functionality of the exchange. An easy to use interface, refined for excellent desktop and mobile experience. Built using latest technologies and backed by FinTech grade security.”
|Exchange Name||Txbit.io Exchange|
|Withdraw Fee||0.0014 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.
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.
Txbit Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something that we call a “flat fee model”. They have a flat trading fee of 0.20%. The industry average is arguably around 0.25% so these trading fees are competitive enough.
We are however seeing more and more exchanges moving to lower trading fees, and 0.10% and 0.15% are actually emerging as new industry averages.
Txbit Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn). It varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is slightly above 0.0006 BTC when you withdraw BTC.
Txbit charges you 0.0014 BTC (which on the date of last updating this review, 10 April 2021, was around USD 85) per transaction. This means that their BTC-withdrawal fee is substantially higher than the global industry average, and thus very disadvantageous to its traders. We hope Txbit lowers this withdrawal fee very soon.
Txbit Exchange does not accept any deposits of fiat currency. This means that the new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.
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Txbit Exchange has a referral program for its users. It’s easy to participate, the only thing you have to do is to create an account, get your link, invite friends and then get your bonus (just as any other referral program really).