Launched In August 2018, Coinsbit Is A Centralized Exchange Based In Estonia. The Team Claims That The Number Of Coinsbit Users Is 2,000,000. Coinsbit Supports Cryptocurrency Pairs, 6 + Fiat Gateways And OTC Trading, As Well As A P2P Lending Platform. Coinsbit Offers Cryptocurrency Trading And Allows Users To Earn Crypto Assets Through Staking Pools. The Coinsbit Exchange Token CNB Was Launched On January 1, 2020 With The Aim Of Reducing Transaction Fees For Users. Coinsbit Provides A Platform For Listing And Conducting IEOs.
A General Understanding Of COINSBIT
COINSBIT Is An Estonia-based Virtual Currency Exchange Company Established In 2018. Although Not Specifying The Regulator, COINSBIT Offers More Than 100 Cryptocurrencies To Its Users. The Maximum Leverage Offered By COINSBIT Is Up To 10x, Giving Users The Possibility To Increase Their Trading Positions.
What Is COINSBIT?
COINSBIT Offers More Than 100 Cryptocurrencies, Giving Users A Wide Range Of Trading Options.
COINSBIT Also Offers The Maximum Leverage Up To 10x, Allowing Users To Potentially Amplify Their Trading Positions.
In Addition, COINSBIT Offers A Web-based Platform And Mobile App That Provides Convenience And Flexibility For Users To Access And Manage Their Accounts. Offering Multiple Deposit And Withdrawal Options, COINSBIT Ensures Users The Flexibility To Manage Their Funds.
Although COINSBIT Does Not Specify Its Educational Resources, It Provides 24/7 Live Chat And Email Support To Help Users With Their Trading Needs.
Pros And Cons
Pros Of COINSBIT:
Support For Major Cryptocurrencies: COINSBIT Offers More Than 100 Cryptocurrencies For Users To Trade, Providing Numerous Options And Flexibility For Their Investment Choices.
User-friendly Interface: COINSBIT Provides A Web-based Platform And Mobile App That Ensures Ease And Accessibility For Users To Trade Anytime, Anywhere.
Multiple Deposit And Withdrawal Options: - Offering Multiple Deposit And Withdrawal Options, COINSBIT Offers Users The Flexibility To Manage Their Funds According To Their Preferences.
Good Customer Support: COINSBIT Provides 24/7 Live Chat And Email Support To Help And Guide Users At Any Time.
Strong Security: Over 95% Of The Currency Is Stored In Cold Wallets. WAF (Web Application Firewall) Is A Web Application Security Barrier That Detects And Blocks Hacking Attacks.
High Performance: The Main Distinguishing Characteristic Of COINSBIT Is The Processing Speed Of Up To 10,000 Transactions Per Second And 1,000,000 TCP Connections.
Disadvantages Of COINSBIT:
Unregulated: Regulators Regulate COINSBIT Is Not Specified, Raising Concerns About Transparency And Regulation Of Exchanges.
Limited Educational Resources: COINSBIT Does Not Specify Its Educational Resources, Which Can Be A Disadvantage For Users Who Are Looking For Educational Materials To Enhance Their Trading Knowledge And Skills.
Limited Information: The Lack Of Specific Regulatory Information And Educational Resources May Result In A Less Transparent Trading Environment And Higher Latent Risk For Users.
High Withdrawal Fees: Withdrawal Fees Are A Bit High.
Regulator
COINSBIT Is Not Regulated By Any Regulator, Which May Raise Concerns About Transparency And Regulation Of Exchanges. As A Result, The Regulatory Status Of COINSBIT Is Currently Unclear, Potentially Exposing Users To Risks Associated With Unregulated Exchanges.
Unregulated Exchanges Lack The Oversight And Legal Protection Provided By Regulators. This Can Lead To A Higher Risk Of Fraud, Market Manipulation, And Security Bugs. Without Proper Regulation, Users May Also Face Challenges When Seeking Recourse Or Resolving Disputes. In Addition, Lack Of Regulation May Result In A Less Transparent Trading Environment, Making It Difficult For Users To Assess The Legitimacy And Reliability Of Exchanges.
SECURITY
COINSBIT's Security Measures Include Cold Storage Of Cryptocurrencies And Two-factor Authentication For Account Access. Cold Storage Is A Widely Recognized Security Measure That Keeps Most Users' Funds Offline, Thus Minimizing The Risk Of Hacking Or Unauthorized Access. Two-factor Authentication Requires Users To Provide Secondary Verification Codes In Addition To Their Login Credentials, Thus Enhancing Account Security. In Addition, The Website Has Adopted A Strong Firewall Protection (WAF) That Adds An Additional Layer Of Security To Users' Assets And Detects Hacking Attacks.
