Toobit is an emerging crypto exchange that started operations in 2022. Currently, it is used by traders in over 100 countries with over 3 million active traders and over $15 billion in daily trading volume, Toobit claims.
Toobit provides the users with the choice of two modes: Split Position and Merged Position. When in Split Position mode, every trade is treated separately. That means that the user can have both short and long trades at the same time and can deal with them independently. Merged position mode merges all trades of the same direction and treats them as one. This makes it easy if you only trade in one direction.
Toobit has gained investors like Bybit, Huobi Ventures, Coda Ventures, and C2 Ventures.
Toobit Services
Toobit also provides trading tools like Futures Grid and DCA (Martingale). The platform allows the traders to automate their moves and utilize a strategy for trading.
According to the exchange, it offers 450 trading pairs and more than 40 zero-slippage copy trading pairs.
Features and Functionalities
Some of its smart features are AI-based copy trading, one-click close of positions, reverse contracts, and holding multiple positions in the opposite direction.
Toobit does not have any deposit limits. Withdrawal limits vary based on your verification level, and you can ask for an increased limit if you are a verified user. You can begin trading with a mere $10.
New users are rewarded with incentives like welcome bonuses, deposit rewards, and trading fee discounts.
Moreover, Toobit users are now able to convert their coins directly on the platform. This function is available for any of the cryptocurrencies supported on the platform’s spot account conversion feature. Toobit’s advanced futures trading infrastructure, with TradingView’s analytical capabilities, offers users a smoother trading experience.
Toobit offers different types of trading, such as spot, derivatives, trading bots, copy trading, and even a demo mode for training. However, the platform does not support non-fungible tokens (NFTs).
Security Protocols
Toobit uses strong security measures like two-factor authentication, login notifications, cold and hot wallet storage, and AES-256 encryption.Â
Users have to pass through a KYC verification in certain countries, while in others, they can sign up and start immediately.
Support Initiatives
Registration and deposit on Toobit is less than two minutes’ work. The platform and mobile app are simple to use, with instant notifications and personalized dashboards. Toobit also has tutorials, an academy, FAQs, 24/7 customer support via email, website chat, Telegram, WhatsApp, and the mobile app.
The platform also supports 11 languages such as English, Spanish, Russian, Chinese, Japanese, and others.
Toobit team consists of tech, operations, and industry specialists from other global exchanges like Huobi, Bybit, and Xiaomi.
Conclusion
Toobit is an evolving exchange in the cryptocurrency industry. It provides efficient tools and flexibility to the users. It also offers unique features and functionalities with low trading fees and powerful security measures. It also facilitates AI-based copy trading and future bots.
