Cryptocurrency Exchange

Probit Exchange Review 2020 – Is this a perfect Crypto exchange?

Overview

Legal NameProbit Exchange
HeadquartersGangnam-gu, Seoul
CEORonald Chan
Year Founded2018
Exchange TypeCentralized
Trading FeesMaker: 0.20%/ Taker: 0.20%
Deposit MethodsCryptocurrency
Supported Cryptos150+ coins including Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
FiatNo fiat currencies supported
Customer ServiceEmail, Phone
Trading Options Spot Trading, Margin Trading

Every digital asset exchange claims to have an intuitive interface that the users can easily adapt and access to it. And while some exchanges offer a toggle option between basic and advanced modes.

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This may still not be enough to meet the needs of a wide range of users with varying trading habits. With this in mind, ProBit offers a comprehensive trading interface that comes with a modular dashboard to support full customization.

In this article, we will look into the detailed aspects of the ProBit Exchange such as its features, fees, trading, pros and cons, and much more. Let us have a glance into this ProBit Exchange Review in detail now,

What is ProBit? 

ProBit is an exchange that was launched by Hyunsu Do and Steve Woo in November 2018. Based in South Korea, the ProBit Global exchange has an advanced and easily accessible website. Probit Exchange offers a range of platform services for the crypto community from trading to IEO.

The Probit whitepaper outlines the unique features which it believes will set it apart from the field. According to Probit, the platform’s matching engine can handle more than 1,500,000 transactions per second, placing it among the fastest exchanges in existence.

The platform aims to distinguish itself by providing global coin-to-coin exchange services. Using HTTPS(SSL), Probit protects users from such malicious attacks as SQL injection, cross-site scripting, and DDoS.

A South Korean Bases Crypto-to-Crypto Exchange Platform launched in November 2018 by Hyunsu Do (CEO) and Steve Woo (CTO) .  The Probit exchange White Paper provides a detail of its functioning and features that creates a high authority. The Platform puts forward its security of wallets and its capacity where it claims to 1,500,000 transactions per second, which can make it the fastest Cryptocurrency exchange Platform in the world. 

ProBit Features

  1. Trading Experience: The user experience is designed to prioritize convenience and ease of use. Probit aims to put in place a fully customizable dashboard that can be set up according to user preference showing the most relevant and prevalent information for the trader.
  2. More currency pairs : It is a platform with more than 150 currencies to exchange. As the market matures, the new currencies are being listed. Probit ensures to keep the trading pairs updates as per the market trends
  3. Security: There are three key security features which Probit offers users. It uses offline or cold storage, storing 95% or more of digital assets in cold wallets, which protects its users against theft or loss. There is also a strong encryption program to store data is in place.
  4. Profitable referral program: The rates for inviting friends are based on 10-30%, which is a good income for the inner management of the service.

ProBit Fees and Limits

This trading platform doesn’t charge different fees between takers and makers. Instead, the exchange has a so-called “flat” fee model. They offer a flat trading fee of 0.20%. ProBit also offers trading fee discounts when you have a larger trading volume.

Trading fees can become as low as 0.05% if you have a large trading volume. It can be even lower (0.03%) if you pay your trading fees with the exchange’s native token, the PROB-token.

ProBit charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. ProBit does not accept any other deposit method than cryptos.

Probit Token – PROB Utility token 

PROB is a Native token of Probit exchange you can Buy and trade it on Probit Exchange Platform, The Token is hard-capped into 200 million tokens and has Utility features like a discount on trading fees, good referral income, exclusive access to latest features, token voting rights. 

ProBit Supported Currencies

ProBit Exchange supports more than 150+ currencies to exchange and many pairs of them. As per the ProBit Exchange reviews, it recently listed 8 new coins and 2 new trading pairs namely:

  • FTX Token (FTT/KRW, FTT/USDT)
  • Augur (REP/KRW, REP/USDT)
  • Synthetix Network Token (SNX/KRW, SNX/USDT)
  • TrueUSD (TUSD/KRW, TUSD/USDT)
  • Kyber Network (KNC/KRW, KNC/USDT)
  • Nexo (NEXO/KRW, NEXO/USDT)
  • OKB (OKB/USDT)
  • ICON (ICX/USDT)

Also read: Popular Crypto Personality John McAfee Speaks On the Beatzcoin IEO Hosting On Probit Exchange

ProBit Mobile App

The ProBit Exchange app provides a well-presented overview of market data. It also provides customized buttons to complete buy and sell transactions for both limit and market orders on the go. It is available on both Google Play and the Apple iStore.

ProBit offers a Mobile App which can be downloaded and installed using Google Playstore, App Store or by downloading the APK file from the following link- https://www.probit.com/en-us/download-app

ProBit-Mobile-App

How to register on ProBit?

  1. Step 1:

    Go to the Official Probit Website and click “Sign Up” Option

  2. Step 2:

    Fill in the form, check the box and click “REGISTER”

  3. Step 3:

    A pop-up will open. Check the box where it says “I’m not a robot”

  4. Step 4:

    Check your email. A verification code will be sent. Copy and paste the code, click “VERIFY” proceed.

  5. Step 5:

    Click “GO TO LOGIN PAGE” to continue. Enter your email, password, and click “Log in”.

  6. Step 6:

    Complete the ProBit Exchange KYC by filling the “VERIFICATION” form with your personal information, and upload a photo of your ID or passport, as well as a photo of yourself holding the identification document. Click “SUBMIT”.

How to recover the ProBit password? 

In certain cases, to recover the ProBit password, Visit the Official Website, Go to the ProBit Exchange Login Page, and then click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password. 

recover-the-ProBit-password

How to deposit on ProBit?

Step 1: log in to your ProBit Exchange account.

Step 2: Click on Wallet

Step 3: Then click on Deposit and input the coin name. (e.g. click XRP when depositing Ripple)

Step 4: make sure to check the precautions and double-check all deposit details before proceeding. 

Step 5: Now click on Copy to get your deposit address. Double-check the note under the deposit address as well.

Step 6: Once the transaction has started, it may take some time for the deposit to come through due to network confirmations.

How to withdraw on ProBit?

Step 1: log in to your ProBit Exchange account.

Step 2: Click on Wallet

Step 3: Then click on Withdraw and input the coin name. (e.g. click XRP when depositing Ripple)

Step 4: make sure to check the precautions and double-check all withdrawal details before proceeding. 

Step 5: Now click on Copy to get your withdrawal address. Double-check the note under the withdrawal address as well.

Step 6: Once the transaction has started, it may take some time for the withdrawal to come through due to network confirmations.

How to buy cryptocurrencies on ProBit? 

Step 1: log in to your ProBit Exchange account.

Step 2: Select the “Exchange” Option

Step 3: In the search bar on the left, type in the token name or symbol to quickly locate the relevant token. The current price will be displayed as the Last Price.

Step 4: In the Buy part of the Limit section, enter your desired purchase quantity.

Step 5: Once the desired price is set, press BUY.

Step 6: You can track the status of all placed orders by clicking Order History and Trade History in the box below.

How to sell cryptocurrencies on ProBit?

Step 1: log in to your ProBit Exchange account.

Step 2: Select the “Exchange” Option

Step 3: In the search bar on the left, type in the token name or symbol to quickly locate the relevant token. The current price will be displayed as the Last Price.

Step 4: In the Sell part of the Limit section, enter your desired selling quantity.

Step 5: Once the desired price is set, press SELL.

Step 6: You can track the status of all placed orders by clicking Order History and Trade History in the box below.

ProBit Pros and Cons

Pros

  • More than 150 cryptocurrencies available on the exchange.
  • It offers constant rewards programs to new users.
  • Excellent translation service with more than 30 languages currently listed.
  • Trading fees equal 0.2% and offer discounts if you pay with PROB.
  • It is also available in a mobile version.

Cons

  • ProBit does not accept any other deposit method than cryptos.
  • It does not have margin trading.
  • The user has to have at least 100 PROB tokens, to be eligible for most of the events.
  • Need to complete the 2-factor authentication process to join in the events

Conclusion

ProBit is a company for the exchange of digital currencies that also provides services to investors. It has a complete platform with more than 150 currencies to exchange and many pairs of them. It also offers trade competition events on its platform, thus rewarding tokens to users who frequently exchange currencies and investors.

The ProBit exchange is very active on social networks, always announcing all active and future events so that users are attentive and participate in them. This exchange has gained fame and began to position itself as one of the most popular exchanges out there.

Recent Updates

  • On July 11, 2020, GOOD X NETWORK (OOX) announced it will launch IEO with ProBit Exchange
  • On July 15, 2020, CryptoBharatCoin (CBC) announced it will launch IEO with ProBit Exchange
  • On July 21, 2020, ProBit Exchange Lists Golden Ratio Coin (GOLDR)
  • On July 25, 2020, ProBit Exchange Lists Comma Open Chat (COC)
  • On July 28, 2020, ProBit Exchange Lists SnowBlossom (SNOW)
  • Tweet: “  We’re celebrating the upcoming Bitcoin halving by making Trade Mining available for all users and all trading pairs. You can now recoup up to 100% of your trading fees in PROB tokens, offer will only be available until June 1 “ 
  • The Magnolia based Blockchain energy Infrastructure, Karvuon launched its IEO on Probit exchaneg 
  • ProBit Exchange Now Top 5 Korean Crypto Exchange with Trade Mining Rebates Ahead of Official Crypto Legalization

ProBit  FAQ’s

Do I need KYC to use ProBit Exchange?

You can still deposit, withdraw (except KRW), and trade without completing ProBit Exchange KYC verification.

Does ProBit accept fiat Currencies?

Currently, ProBit Exchange does not support fiat currencies such as USD, JPY, and KRW. Only supported cryptocurrencies can be deposited and traded on the platform.

How are the coin values calculated in my wallet balance?

The coin values in your wallet are calculated with the following formula: COIN VALUE = LAST TRADED PRICE x NUMBER OF COINS

How to recover the forgotten password?

Go to the ProBit Login page, click the Forgot Password Option, Then enter your email address, and after which you can generate a new password.

Does ProBit have a mobile app?

Yes, ProBit does have a mobile application for both Android and IOS.

What are the trading fees on ProBit?

They offer a flat trading fee of 0.20%. ProBit also offers trading fee discounts when you have a larger trading volume.

ProBit - 8.2

8.2

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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