ProBit Review: An Exchange Built With High Authority And Unique Features For 2024
ProBit is a relatively new cryptocurrency exchange. It excels at some things, like basic crypto trading and initial exchange offerings (safer initial coin offerings for investors), and fails at others. Though US investors can easily access the ProBit platform, check with your state to ensure complete access. Read our ProBit review to find out if this cryptocurrency exchange is perfect for you.
Steve Woo founded ProBit Global cryptocurrency exchange in Seoul, South Korea, in 2018. It is one of the most popular cryptocurrency trading platforms, providing an accessible and advanced exchange platform with a wide range of services, from crypto trading to IEOs. In comparison to other exchanges, ProBit is developed with great authority and unique features, and it claims to be the world’s fastest cryptocurrency exchange. Every second, the platform can process around 1,500,000 cryptocurrency transactions. This ProBit Review will go into greater detail about the platform’s features, benefits and drawbacks, fees, payment methods, supported currencies, and other topics.
|Headquarters||Seoul, South Korea|
|Supported Fiat Currencies||Yes|
|Supported Countries||Worldwide with few exceptions|
|Minimum Deposit||No with some exceptions|
|Transaction Fees||Depends on the membership level|
|Withdrawal Fees||Depends on Currency & Payment Methods|
|Customer Support||Submit a Request and FAQ Section|
What Is ProBit?
To put it simply, ProBit is a bitcoin trading platform. It was created in Seoul, South Korea, in 2018. The platform currently supports more than 40 cryptocurrencies, and the developers are striving to expand to more than 100 cryptocurrencies and allow more people to trade on the ProBit exchange in the near future. By providing a global crypto-to-crypto exchange for all types of traders, the platform successfully differentiates itself from other trading exchanges.
It places great value on the protection of its client’s funds. They also provide a Trade Mining Service, which lets customers mine BTC and USDT, ETH and USDT, BTC and KRW, ETH and KRW, and ETH and BTC. Users can use their services to obtain transaction fee savings through PROB, their native token. Overall, the platform’s superb and extensive crypto trading capabilities make it one of the top solutions for novice and expert traders. The Exchange emphasizes three key reasons a trader should pick ProBit: worldwide, professional, and secure.
How Does ProBit Work?
Understanding how the ProBit exchange works is really simple, and novice investors may function on the exchange with ease. The beauty of the ProBit exchange is that traders can mine digital currency on the site. To learn more about how the exchange works, read the following articles to gain a thorough understanding of the platform:
To begin trading on ProBit, users must have funds in their accounts. Buying and selling are not permitted in the absence of funds. The platform supports the following significant cryptos: Bitcoin (BTC), Tether USD (USDT), and Ethereum (ETH). To begin trading, a ProBit account or wallet must deposit one of these coins.
ProBit’s trading dashboard is standard, including a list of crypto trading pairs, price charts, price movements, an order book, a trade feed, and trading volume. The user interface is exceptionally intriguing. The Buy and Sell checkboxes for placing orders are shown underneath the order book. Furthermore, the dashboard supports four limit orders, which allow investors to maximize gains while minimizing losses.
Experienced traders would understand how to optimize profits by staking. Staking is a method for traders to profit from their new cryptos on the market. ProBit offers a variety of crypto coins as well as lockup periods. Staking the native token PROB earns staking rewards, referral bonuses, and trading fee savings, as heavy users are aware.
VIP and Exclusive Levels
ProBit Exclusives lets users maximize their exchange platform benefits. Users can use this function to get a discount on primary crypto tokens. To access this feature, users must stake at least 500 PROB and lock up their staking for 180 days. This will enroll the user in the first-level VIP Membership. On the platform, there are 11 VIP levels, with each level demanding more thorough PROB staking.
The exchange features a native wallet, but it can only be accessed by downloading the wallet app separately to a desktop computer. We couldn’t discover a ProBit mobile digital wallet app in the Android or iOS app stores.
History of ProBit Exchange
ProBit’s history dates back to 2018 when Hyunsu Do and Steve Woo founded the trading platform in Seoul, South Korea. It has now expanded its market to a global scale, becoming one of the most professional, international, and safe digital platforms for cryptocurrency dealers. The company has divided its operations into two significant functions: ProBit Global and ProBit Korea. ProBit primarily works with global investors and is headquartered in Seychelles, East Africa. Oceans Inc. operates ProBit Korea, which has its headquarters in South Korea. Since its inception, ProBit has substantially grown its activities and achieved several milestones.
ProBit is a robust platform that provides various advanced trading and security features to enable users to trade, buy, and sell cryptocurrencies in real time. According to the review, the following are some of the features ProBit investors should be aware of:
Above-par Security Measures
ProBit offers three vital security features to its clients, one of which is cold storage, where traders can store more than 95% of their digital assets. In addition, the platform provides an encryption technology that aids in the safekeeping of critical user data.
Exceptional Trading Experience
ProBit is intended to provide its users with maximum comfort and ease of usage. The user interface is fully adjustable, and users can tailor it to their liking. This means that consumers can only see content that is relevant and prominent to them.
Multiple Currency Trading Pairs
The exchange already supports more than 150 currencies for trading, continuing to invest more as the market grows.
ProBit features an IEO launchpad that allows consumers to invest in new blockchain crypto start-ups. It provides the customer with an in-depth review before launching crypto ventures.
Staking on the ProBit platform allows users to earn passive profits.
One of the best aspects of ProBit is this functionality. Users can grid their trades using the BitUniverse app.
The cost structure is clear, and the rates are reasonable, with savings available when users transact in PROB, ProBit’s native cryptocurrency. The trading charge for each trade is 0.2%, which is lower than the global industry average.
Other notable features of ProBit include:
- Crypto-to-crypto exchange. ProBit allows users to trade more than 340 cryptocurrencies in nearly 600 markets, making it one of the best exchanges for the latest coins and tokens.
- Low trading fees with PROB token discounts. ProBit charges you 0.2% per trade, but discounts are available for loyal traders.
- User-friendly trading dashboard. ProBit is a highly user-friendly platform that constitutes an enjoyable and pleasant trading experience.
- No forced KYC. KYC at ProBit is optional, so you can choose to reveal your identity.
- Secure and reliable exchange. ProBit has not been breached before, and the platform adheres to the highest security standards on its powerful 150,000 orders per second capable of processing exchange. Though ProBit Global is incorporated in Seychelles, its Korean counterpart is strictly regulated in Korea, so the team behind the exchange is trustworthy and reliable.
- ProBit Initial Exchange Offering platform. Participate in the latest token offerings via ProBit’s secure token offering platform. Besides, the exchange has regular offers to buy all sorts of coins with a discount.
- Stake and earn. ProBit’s taking lets you earn cryptocurrency by staking them at the exchange.
Pros and Cons
|No KYC requirements.||Unresponsive customer support.|
|Well-designed user interface.||Lacks margin trading.|
|Low trading fees through PROB.||Restricted fiat trading.|
|Access to IEOs (initial exchange offerings).|
|Multiple trading pairs.|
ProBit users know how simple it is to set up an account on the site. According to the review, the registration process is simple, accessible, and takes only a few minutes to complete. Here’s how new users can get started on the ProBit exchange:
- Go to ProBit’s official website and click Register.
- The following page will display a form for the client to fill out with their name, email address, and password. Before proceeding to the Register tab, check the boxes.
- A pop-up window with the text ‘I am not a robot’ will display on the screen. If you check the option, a verification code will be emailed to your registered email address.
- Copy the verification code, paste it into the box, or simply type it in. This step will validate the user’s email address.
- To begin trading on the site, customers must first meet the ProBit exchange KYC standards and complete level 2 KYC. Fill out the verification form with your personal information and upload a photocopy of any ID or passport, as well as a selfie holding the original copy of the passport or ID.
- Once the documents are submitted, level 2 KYC is complete. Users may now begin trading.
According to the reviews, ProBit traders know that the platform operates on a flat price approach since it does not charge separate fees for makers and takers. The maker’s and taker’s fees are fixed at 0.20%; ProBit Worldwide’s track record is slightly lower than the global industry average. However, several firms now impose trading costs of as little as 0.15%. Furthermore, ProBit offers trading fee rebates for the significant trading volume. This means that trading fees for large trades using PROB, the platform’s native cryptocurrency, can be reduced to 0.05% or even 0.03%.
Except for WBX (WiBX), which charges network costs, ProBit does not impose deposit fees on its platform.
Withdrawal costs vary significantly from one cryptocurrency to the next, but they are generally fixed. Users must pay 0.0006 BTC in withdrawal fees for Bitcoin withdrawals on other crypto exchanges. However, ProBit charges 0.0005 BTC for each Bitcoin withdrawal. This rate is slightly lower than the average for the global industry. In the grand scheme, the trading and withdrawal costs are lower than the industry averages. You can also learn more about ProBit’s fee structure by clicking here.
ProBit Deposit and Withdrawal Methods
ProBit Global does not accept any type of deposit other than a cryptocurrency exchange. This means that consumers cannot buy and sell digital assets using fiat currencies. As a result, ProBit only accepts cryptocurrency deposits.
ProBit Korea traders can make deposits in KRW (South Korean Won). However, only those who have verified their identification on the platform can access this option. ProBit has no fees for deposits, but network costs may apply when withdrawing cryptocurrency from the wallet. The withdrawal and processing time are determined by the removed cryptocurrency and the network used to withdraw it.
ProBit Accepted Payment Methods
Since ProBit does not support fiat currencies, users can make payments only with cryptos. It helps the largest selection of crypto assets, namely, Bitcoin, Tether USD, and Ethereum. So, accepted payment methods include:-
- Crypto to crypto trading.
- Crypto to fiat trading.
Currencies & Countries Supported by ProBit
Albania, Algeria, Barbados, Bangladesh, Botswana, Bolivia, Cambodia, Cuba, Ghana, Ecuador, Iraq, Jamaica, Morocco, Mauritius, Myanmar, North Korea, Nepal, Pakistan, Panama, Singapore, Syria, Sri Lanka, the US, Uganda, Yemen, Venezuela, Zimbabwe.
Coming to the supported currencies, the platform supports a wide range of 800 cryptocurrencies on 1000 markets which is huge compared to other crypto exchanges. The primary crypto tokens supported are Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT).
Conclusion – ProBit Review
To summarize this ProBit review, if you’re seeking the most significant crypto exchange in the world, ProBit should be at the top of your list. It provides innovative features for all modern traders, such as an attractive user interface and trading exchange, minimal trading costs, high levels of security and privacy, and a variety of other benefits. It does not, however, provide margin trading, but the platform pledges to add unique features in the future.
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