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Friday, April 19, 2024

Txbit.io Exchange Review: Is Txbit Scam or Safe Exchange

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About Txbit.io

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 NameTxbit.io Exchange
Exchange TypeCryptocurrency
Withdraw Fee 0.0014 BTC
Deposit FeeFree
Taker Fee0.20% 
Maker Fee0.20%
 Top CountryIndia

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.

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. 

Deposit Methods

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.

Hawaii Coin (HWI)

Hawaii coin was designed to scale as the network expands enabling massive transactional throughput with low latency. HWI is also easily scalable digital asset than can be intergrated with multitude of applications. HWI network towards the development of financial applications and software that are designed to empower people with the freedom to transact

ActivEightCoin (ACTIV)

ActivEightCoin was launched with the aim of monetising fitness, users of our forthcoming iOS and Android app will be able to earn ACTIV from their workouts and daily step count. ACTIV is also the fuel which powers the soon to be released ActivSwap DEX, holders of ActivEightCoin will receive quarterly dividends from their share of transaction fees as well as earning ACTIV from Farms and Staking Pools.

Mehh Coin (MEHHC)

MEHH is an open network for enabling instant cryptocurrency payments in stores and online, allowing merchants to receive secure cash deposits via their existing points-of-sale.

Rapids (RPD)

They are a creative agency with a passion for innovation and the design of beautiful creations.We have all envisioned certain aspects of past cryptocurrency projects we would have liked to see come to fruition, and we are applying those underlying philosophies to Rapids.

Referral Program

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).

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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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