Welcome to the Crypto exchange reviews series, get the best and latest information on standard crypto exchanges, to begin with your exchange needs.
Probit Exchange is the fastest growing crypto exchange having 215,000 active users monthly and can boast a matching speed of over 1.5 million orders per second. Launched in 2018 Probit grabbed this huge audience by its high-end security and functionality. Providing Coin to Coin trading with advanced trading with robust user experience.
Introduction to Probit Exchange
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.
The Team behind it
Hyunsu Do served as the Chief Operating Officer at B-Seed partners, a seed accelerator for Fin-tech & blockchain technology companies while the latter founded and was the CEO of Linux International Inc.
Woo has an experience of over 25 years in the software industry. The knowledge and expertise of both Do and Woo when put together led to technical innovation strategically developed and tailored according to the needs of the current financial market.
Latest Updates:
- 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
Features of Probit exchange
Probit exchange has everything a Crypto trader could have. Below are some considerable Points.
- Fastest Transaction Rate – Probit claims to process over 150000 orders/seconds, this is an unbeatable record than any other exchange can deliver
- Security of funds – The Case study if Probit is in comparison with the mistakes done by other exchanges over the hacks. Probit provides high security wherein the funds are stored in Cold Wallets also supporting FIDO U2F hardware security key and 2FA to the users.
- Friendly Dashboard – Probit dashboard and UI is customizable and is made for both Experts and Beginner traders
- More Trading pairs – After Nov 2019, Probit included more than 20 pair including BTC, ETH, USDT, EOS, etc
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.
Countries that support ProBit:
ProBit as a platform is accepted globally. However, we are not sure if it is banned in the US, and therefore any US investor before considering trade using ProBit as a platform should cross-check if their state allows it.
Coins supported by ProBit:
Currently ProBit supports 40+ crypto’s of different types with the website stating that 100+ other cryptos are “ready to be listed” which means that the number of coins supported by ProBit may increase in the near future. Apart from this, the exchange also offers something called a “trade mining service” which offers mining of trading pairs.
According to sources, the exchange will list 5 new coins and 8 new trading pairs which are as follows:
- USD Coin (USDC/KRW, USDC/USDT)
- Paxos Standard (PAX/KRW, PAX/USDT)
- DAI (DAI/KRW)
- UNUS SED (LEO/USDT)
- BitShares (BTS/KRW, BTS/USDT)
- Nervos (CKB/KRW, CKB/USDT)
- Bitcoin Gold (BTG/KRW, BTG/USDT)
- Status (SNT/USDT)
- KuCoin Shares (KCS/USDT)
- Dogecoin (DOGE/USDT)
- Seele (SEELE/KRW)
- Huobi Token (HT/USDT)
- Zilliqa (ZIL/KRW)
Also read: Popular Crypto Personality John McAfee Speaks On the Beatzcoin IEO Hosting On Probit Exchange
Fees and other charges
Trading Fees :
Under a trading feature, a so-called “flat” fee model, they provide a flat trading fee of 0.20%. The worldwide industry average has for an extended time arguably been 0.25%.
Today, however, we are seeing more and more exchanges moving to lower trading fees, such as 0.10% and 0.15%
The exchange does not charge different fees for the users. ProBit also offers trading fee discounts once you have a bigger trading volume. Trading fees can become as low as 0.05% if you’ve got an outsized trading volume, and even lower (0.03%) if you pay your trading fees with the exchange’s native token, the PROB-token.
Withdrawal Fees:
Like any other Trading, platform ProBit charges a withdrawal fee amounting to 0.001.
How to set up a ProBit account?:
- Visit Probit.com (Probit.kr for korean users) the page by clicking on the following
- On the top right corner, click on the ‘Signup’ option
- A registration page will pop which will require you to add in details like your email address, password, and a referral code in case if you have one. Once details are entered, click on Register
- A pop-up will appear which will ask you to confirm that you are not a robot. Click the checkbox and confirm that you’re not a robot.
- A verification code will be sent to your email. Check your email and get your verification code.
- Enter the code received and click on ‘Verify’. Once that is done you will be redirected to the “Thank You for joining us” page.
- Visit the login page. You can do it by simply using the link in the first step.
- Use your email address and password to log in
- Voila! You’re now a ProBit member!
Is ProBit Safe and Secure?
With the exchange offering trade at a very low trading price and it having qualities of a serious exchange, ProBit seems to be a safe platform. The main characteristics of the platform are global usage, professionalism and security.
Even though it is a recently launched platform, it operates and is competitive enough to run with other exchanges. Soon it will offer higher volume numbers and coin offerings to attract significant customer activity.
It also states that they have 95% of all assets in cold storage(according to their official website). Also, they support FIDO U2F and use hardware security keys and a software-based 2FA all of which makes it safe to use. As of now, it comes under the Top 20 exchanges in the world.
Customer Support and Reviews:
Most of the users of ProBit give positive feedback about ProBit especially for the security and the minimal trading fees that it offers.
Referral Commission & other services
Probit offers a high referral bonus of 10-30% of trading of your friend, and that boast with having a PROB token in your wallet. The Platform also offers Grand Lottery Event and Bounty Campaigns for Social media and different mediums.
Mobile App
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
Conclusion :
Probit is a Complete Pack of Cryptocurrency trading platform. The Best part is the Security of funds in cold wallets and Insurance of funds. You also have various trading options songs with its unique features. Not a bad deal for Beginner or Expert to start trading.
Probit Exchange Review
Summary
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FAQ
How to Register, Deposit / Withdraw, and Trade at ProBit Exchange?
Probit Interface is Simple, you can simply follow the Instruction in the links to Register, Deposit and Withdraw at Probit exchange
What are the Regulations on Probit Exchange?
The financial services commission (FSC) in Korea is expected to pass a law on crypto exchanges on Q2 2020. There will be a 1 year grace period for exchanges to meet the requirements and complete registration. This is great for Probit. First, as one of the most open, transparent exchanges with no scandal or hacks in Korea, Probit is sure to complete the registration. Second, some exchanges in Korea have an unfair advantage due to previous regulatory uncertainty. With the introduction of the law, this will no longer be the case. The introduction of this law will help Probit a great deal.
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