Easybit Crypto Exchange Review : Pros & Cons

Easybit : In this article, we cover a detailed review of Easybit Crypto Exchange. How does Easybit Crypto Exchange work & Are important features?

About Easybit

Easybit (formerly known as Easyrabbit) is a cryptocurrency exchange based in Cyprus. It is a non-custodial cryptocurrency exchange service formed around simplicity. They offer instant exchanges with an average processing time of 12 seconds per transaction. They also have a simple with a user-friendly interface. 

The Team has developed something they call the Volatility Protection Mode. According to Easybit, this is a “game-changing innovation in the field, giving users control over volatility”. VPM is having the advantages of the floating and fixed rate in one mode.

It works on the floating rate but if during the transaction the rates drop below a customizable percentage, VPM automatically triggers to cancel the transaction and refund the user. According to EasyBit, this avoids any loss.

Information Table

How To Register At Easybit Review ?

To register for an account on Easybit , follow these steps:

Click the “Sign Up” button on the Netcoins website at netcoins.ca.

Put your contact information, such as your full name, email address, and password, in the registration form. Click the “Register” button after accepting the terms and conditions.

By clicking the link delivered to your email inbox, you can confirm your email address.

To finish the verification procedure, provide other details such as your phone number and identification documentation.

Log into your account after it has been validated, then add money to your Easybit wallet. You can accomplish this by selecting the “Deposit” button and then adhering to the guidelines.

You can start buying and trading cryptocurrencies on the Easybit platform after making a deposit of cash.

How To Verify Your Easybit Account ?

There is no mandatory verification at Easybit , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal Fee of 0.001 BTC per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Easybit Crypto Exchange ?

There are two main options for topping up your balance on Easybit Exchange. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Easybit Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Easybit Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app.

Easybit Trading fees

They charges what they refer to as flat fees, which means that both creators and takers are subject to the same rate. Both takers and creators pay 0.20% in fees when using Easybit. This is fairly consistent with the sector average, which has often been in the range of 0.25 percent. However, as of late, we’ve noticed an increase in the number of exchanges pushing toward even reduced trading fees, like 0.10%.

However, when you achieve a specific VIP level, They offers trading fee savings. There are 10 levels, and the top level requires a monthly trading volume of 10,000 BTC. If you are at the highest level, trading fees drop to 0.10%.

Fee Structure Table

Fees for Easybit withdrawals

As far as we know, They does not impose any fees when you remove cryptocurrency from your platform account. As a result, while withdrawing, the sole fee to consider is the network fee. The network fees are not paid to the exchange directly; rather, they are paid to the miners of the relevant cryptocurrency or blockchain. The network pressure determines how much the network fees change from day to day.

Generally speaking, when it comes to charge levels for crypto withdrawals, having to pay simply the network costs should be seen as being below the worldwide industry average.

Deposit Methods

This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at Easybit. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. To find an exchange where you can purchase cryptocurrency with fiat currency (regular money),

Features Of Easybit Crypto Exchange

Easy to use

This is made to be user-friendly, with a straightforward UI that makes buying, selling, and trading bitcoins simple.

Wide range of cryptocurrencies

A broad variety of cryptocurrencies are supported by They, including Bitcoin, Ethereum, Litecoin, and many others. This enables users to diversify their portfolios and take advantage of various investment opportunities.

High liquidity

They provides high liquidity, allowing customers to swiftly and easily buy or sell cryptocurrencies at market values without having to wait for a buyer or seller.

Low transaction fees

They offers a cost-effective choice for individuals wishing to purchase, sell, or exchange cryptocurrencies.

Advanced security features

It has advanced security features, such as two-factor authentication and cold storage for user funds, to ensure that users’ assets are safe and secure.

Mobile app

EasyBit has a mobile app for iOS and Android devices, allowing users to trade cryptocurrencies on the go.

Customer support

They offers customer support to help users with any issues or questions they may have.

Easybit Cryptocurrency Exchange Pros & Cons

Pros:

Easy to use Simple and intuitive user interface of They makes it simple for users to buy, sell, and exchange cryptocurrencies.

High liquidity: EasyBit provides high liquidity, allowing users to rapidly and easily buy or sell cryptocurrencies at market prices.

Multiple cryptocurrencies are supported by They, allowing users to diversify their portfolios and take advantage of a variety of investment options.

Low transaction fees: EasyBit offers a cost-effective choice for individuals wishing to purchase, sell, or exchange cryptocurrencies.

Conclusion

To sum up, EasyBit is a trustworthy and user-friendly cryptocurrency exchange that provides a large selection of cryptocurrencies, great liquidity, and cutting-edge security measures. Users may easily buy, sell, and trade cryptocurrencies on this platform thanks to its straightforward design, cheap fees, and mobile app. Nevertheless, given its constrained trading functionality and payment choices, it might not be appropriate for all customers. Overall, This is unquestionably a platform to take into consideration if you’re searching for a beginner-friendly way to begin trading cryptocurrencies.