Review on Coinbit by Olugbenga Ajayi
Coinbit is secured with KT cloud services
Coinbit is an exchange that is fully registered and licensed by Korean government. It was launched in 2018 and has expanded beyond the Korean territories. This is obvious when we consider the high trading volumes and also the fact that the interface is designed to accommodate Japanese, Chinese and English speaking traders.
The exchange supports many crypto currency pairs although it only support one flat currency which KRW.
The exchange charge 0.10% flat fee on makers and takers which is relatively fair. It also charges withdrawal fee of 0.001 BTC which it rather too high and above the industrial average.
For security, the exchange use a third party cloud services known as KT cloud services. Is it possible that this likey expose the exchange to hackers attack? Only time will tell. This exchange is really a fast growing exchange
Pros
- The exchange supports flat currency to crypto exchange
- It supports mobile trading
- Traders can earn passive income from airdrops
- It is suitable for non Korean traders as the exchange interface is designed to be multilingual with Japanese, Chinese and English languages
- It is a fully registered and licensed exchange
- It is suitable for beginners who are not familiar with crypto
Cons
- The withdrawal fee is rather too high
- It requires special registration to use
- The flat currency supported is local to Korean region
