Review on Coinbit by Douglas Cachazo
Coinbit: Asian Exchange for Asians
It was launched in July 2018 and operates from Seoul South Korea. It is governed by Korean legislation and is blocked to operate from the US, it works basically in Asian countries where it has had good acceptance, In my opinion it is not suitable for beginners, although its operation is basic, the usual in every Exchange house, sell and buy crypto, exchange, trade, and a loan option but lacking in bidders. Despite not being able to operate in the US, it ranks 55th among the Exchange in terms of daily volume of operations, I believe this is in the order of 300 million dollars, high for such a young exchange. Their website is a bit confusing and lacking in help. It lacks promotions, the only novelty is that it has a site where you can buy some products such as Cell phones, computers, monitors and pay with some crypto such as USTD, the products are on Ebay, Amazom, Alibaba. I do not recommend using this exchange, at least not until it becomes more open to the world and operates from any country. If you already have your Exchanges do not look for anything in it.
Pros
- Handles high volume of operations in Asian markets
- Work with a good number of cryptos
- Because it is a fork of bitcoin, it inherits the benefits of it.
- Being able to buy some products from platforms such as ebay, amazom, alibaba-
Cons
- It operates preferably in Asian countries with their regulations and laws.
- Not suitable for beginners
- Lacks promotions
