Flybit Exchange Review: Is Flybit Safe Or Legit Exchnage

by Cws Team
A+A-
Reset

About Flybit Exchange

Flybit Exchange is a platform from South Korea and has been operating since 2017. It’s available in three languages: English, Korean and Chinese. This 24 hour trading volume must increase in order for Flybit Exchange to be a safe place to be for avid crypto traders. Trading volume and order book depth is very important for any trader as it ensures that he/she can sell/buy whenever he feels like it and won’t get stuck holding positions that he/she would like to divest but can’t due to poor liquidity. Launched on 15/03/2019, Flybit is a centralized exchange based in Seoul, Korea. It supports KRW and crypto deposit and withdrawal.

Operating Company 

Exchange NameFlybit Exchange
Support24/7
LanguageEnglish
Deposit FeeFree
Withdraw Fees0.00075
Taker Fees0.10%
Official SiteHomepage

How To  Start With Flybit Exchange

To Start Trading With Flybit Exchange Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Flybit Website.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Flybit Exchange.

Flybit Exchange Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

Flybit Exchange charges what we call flat fees, meaning that both the takers and the makers pay the same fee when it comes to spot trading: 0.10%. These spot trading taker fees are a bit below the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but they now see new industry averages emerging around 0.10%-0.15%. The industry average spot trading taker fees were 0.215% and the corresponding spot trading maker fees were 0.162%. 

Flybit Exchange Withdrawal fees

Flybit Exchange charges a withdrawal fee of 0.00075 BTC per BTC-withdrawal. The current global industry average is 0.00059 BTC per BTC-withdrawal according to this report, which is the latest such report prepared on the subject to our knowledge. Accordingly, the withdrawal fees charged by this platform are a bit on the high end. On the date of first writing this review (17 June 2021), 0.00075 BTC corresponded to USD 29.21.

Deposit Methods

To the understanding, in order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Flybit Exchange is cryptocurrency. However, if you really like Flybit Exchange but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.

Flybit Exchange Mobile Support

Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. Fortunately for them, Flybit Exchange is available in mobile format (at least for Android users)

Disclaimer:

Not All The Websites Which Listed In Top List Are 100% Safe To Use Or Investment. We Do Not Promote Any Of Those. Due Diligence Is Your Own Responsibility. You Should Never Make An Investment In An Online Program With Money You Aren’t Prepared To Lose. Make Sure To Research The Website. So Please Take Care Of Your Investments. And Be On The Safe Site And Avoid Much Losing Online.

coinworldstory logo

Coinworldstory Provide Crypto Review Including – Blockchain , Bitcoin , DEFI All About NFT &, Gaming , Cloud Mining ,Exchange , ICO, Ai , Crypto News All In One Place 

nexo 300x250

All Right Reserved. Designed and Developed by CWS TEAM 

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More