Coinsbit is a centralized cryptocurrency exchange (CEX) based in Estonia. Launched in 2018, it offers spot trading, P2P transactions, over-the-counter (OTC) trading, direct crypto purchases, and a blockchain launchpad. Users can also access DEX trading alongside centralized services.
The platform supports 15 languages, though financial services may be restricted in certain regions. Below, we explore Coinsbit's trading volume, markets, fees, and unique features.
Trading Markets on Coinsbit
Coinsbit provides multiple trading options:
- Spot Trading
- DEX (Decentralized Exchange) Trading
- P2P (Peer-to-Peer) Trading
- OTC Trading
Spot traders can choose between two account types: Classic and Pro. Margin trading is under development and slated for future release.
The exchange supports crypto-to-crypto and crypto-to-fiat pairs, with USD and EUR as primary fiat currencies. Over 150 trading pairs and 90+ listed assets are available.
OTC Trading
Coinsbit's OTC platform facilitates large-volume transactions using escrow principles for security. It offers competitive rates for both fiat and crypto assets.
Native Token: Coinsbit Token (CNB)
Launched in January 2020, CNB provides holders with discounted fees (up to 50% reduction). Learn more about CNB's price and market data 👉 here.
Fees and Limits
- Trading Fee: Fixed 0.2% (no maker-taker model).
Withdrawal Limits:
- Basic accounts: $500 daily.
- Verified accounts: $100,000 daily (2FA required).
- Crypto withdrawal fees vary by asset.
Additional Services
Coinsbit Store
An e-commerce platform where products are priced in USDC, USDN, PLC, or CNB. Offers electronics, home goods, and more.
Coinsbit Codes
A peer-to-peer asset transfer service using unique codes—no extra fees.
Staking
Users earn passive income by staking in preferred pools. Minimum/maximum requirements and yields depend on the pool.
Launchpad
Supports blockchain projects via IEOs (Initial Exchange Offerings) and token sales.
DEX Integration
Coinsbit's decentralized exchange allows token swaps without KYC, accessible via MetaMask.
Company Background
Founded in 2018 by Mykola Udianskyi, Coinsbit is headquartered in Tallinn, Estonia, but registered in Seychelles. With 1M+ users, it expanded to India in 2021 (later rebranded as CrypForce). Udianskyi, a legal and cybersecurity expert, exited in 2019 after selling his stake.
FAQs
Q: What is Coinsbit Token (CNB) used for?
A: CNB offers fee discounts and powers the Coinsbit ecosystem.
Q: Does Coinsbit support fiat deposits?
A: Yes, via USD/EUR pairs and OTC services.
Q: Is KYC mandatory for trading?
A: Only for fiat transactions and higher withdrawal limits. DEX trading requires no KYC.
Q: How does Coinsbit ensure security?
A: Through escrow for OTC, 2FA, and regulated operations in Estonia.
For real-time crypto insights, check 👉 this resource.
Note: All external links except OKX have been removed per guidelines.