Ooverbit.com is a leading provider for crypto derivative trading. Overbit’s innovative leveraged trading platform allows cross-market trading using Bitcoin as the underlying asset.
Overbit does not accept applications from residents of the U.S, Quebec (Canadian province), Cuba, Iran, North Korea, Sudan and Syria. The information on this website is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary.
To start trading with Ooverbit.com ,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 Ooverbit.com 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 Ooverbit.com account.
Overbit operates a KYC (Know Your Customer) verification system. You can sign up for an account, make a deposit and start trading. But you will need to have completed KYC before withdrawals are approved.
Try the Overbit trading experience! An advanced, secure and reliable trading interface. The Overbit trading system has a unique modular interface, built for desktop, mobile and tablet devices of all makes and is available in multiple languages.
Overbit is mainly compensated for its services through the “market spread”. For example, when trading XBT/USD, if the Buy Price is 4,000, then the Sell Price would be 3,995 respectively (which means a market spread of 5 pips, in this example). The spread is not fixed and changes from time to time during volatile periods to account for minimum slippage when the trade is executed.
The spread is also used to guarantee liquidity for the trade and it means users can easily calculate their profit or loss for each position without taking commissions into account. Unlike other service providers who also charge commissions on each trade, Overbit does not charge dealing commissions. For more information on the fees, please see the individual contract specification.
You will need to deposit enough to pay for the initial margin of a trade. Let’s say you trade on XBTUSD with 30x leverage. The minimum quantity is 0.01 XBT. The initial margin calculation =(1 * Quantity)/Leverage + Spread. Let’s say XBTUSD is $4,020 (Buy Price) and $4,000 (Sell Price). The calculation = (1*0.01)/30+20 = $20.00033 or 0.005 XBT.
There are no fees for depositing Bitcoin with Overbit. You will be charged a small withdrawal fee, which is simply the Bitcoin transaction fee. For security reasons, withdrawals are processed once per day. Please submit your withdrawal request before 12:00 UTC time and it will be processed within 6 hours of that time.
Why Traders Choose Overbit
Bitcoin as an Underlying Asset
Trade crypto and FX using your Bitcoin, without taking delivery of the assets.
0% Trading Fees
Overbit does not charge fees or commissions on opening and closing trades.
Overbit operates a deep order book using multiple liquidity providers globally.
Get rewarded for signing up friends to Overbit.
Military Grade Security
Client bitcoin is always segregated, protected, and stored in multi-signature cold wallets – never stored in hot wallets.
Professional Trading Experience
The user interface has been designed to limit market noise from the trader and only provide vital information to allow them to make sensible decisions.
Use up to 50x leverage on cryptos, 500x leverage on FX.
Overbit has fully integrated advanced charting features by Trading View.
BitKonan Security Analysis
Ooverbit.com doesn’t have any special security measures except two-factor authentication, and all of their funds are held in hot wallets. The trading platform hasn’t been hacked yet, and the hackers do not target it due to its low monthly volumes (~$60,000). The exchange has email notifications, but there are no SMS notifications, and PGP encryption isn’t used in email communication.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.