Txbit.io is a cryptocurrency exchange for the everyday trader. Built and based in the Netherlands. The philosophy is simple; Security, Privacy and Reliability. All you need is an email address to use full functionality of the exchange. An easy to use interface, refined for excellent desktop and mobile experience. Built using latest technologies and backed by FinTech grade security.”
Txbit trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Txbit consists of four parts: general information, fees, deposit methods and security.
How To Start With Txbit.io
To start trading with Txbit.io,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 Txbit.io 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 Txbit.io account.
Txbit Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something that we call a “flat fee model”. They have a flat trading fee of 0.10%. The industry average is arguably around 0.25% so these trading fees are definitively competitive.
Txbit.io are however seeing more and more exchanges moving to lower trading fees, and 0.10% and 0.15% are actually emerging as new industry averages.
Txbit Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn). It varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is 0.000812 BTC when you withdraw BTC. Txbit only charges you 0.0005 BTC. This means that heir BTC-withdrawal fee is approx. 40% lower than the global industry average.
Txbit.io does not accept any deposits of fiat currency. This means that the new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.
Monkey Project (MONK)
Monkey Project vision is to make Masternodes usable for everyone. Supported by projects created by MONK such as Monkey Tracking and POSMN.
City Coin (CITY)
Launched in October 2018, City Chain is a Proof-of-Stake coin. It aims to become the foundation for a Smart City Platform, which leverages blockchain technology to improve and modernize how a city can organize and deliver services to its citizens.
ECC is an open-source, innovative multi-chain platform. ECC network operates with a financial core which allows it to function not only as a currency-transferring platform, but will also serve as a solid infrastructure for future commercial technologies.
Max Property Group (MPG)
The Max Property Group (MPG) blockchain is a child chain on Ardor and uses the MPG token as a currency to pay for transactions on their crowdfund platform, Max Crowdfund.
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