Demand for cryptocurrencies brought along numerous crypto exchanges all seeking customers from around the world. One of the companies to capitalize on the increased demand was Coinsbit, but it has gone to become one of the most popular crypto exchanges around the world. This post should help you learn everything you will ever need to know about this exchange and whether it is the right fit for you.
It’s difficult to distinguish one crypto exchange from the other, but Coinsbit has managed to set itself apart nonetheless. This has been thanks to various aspects of the company that have made it attractive to traders around the world. Coinsbit first came about in 2018 and it did so with a bang. During Asian Blockchain Life 2019, it was named the best crypto exchange of 2018, a remarkable feat for any exchange given the tough competition.
The exchange is based in Estonia, but it has millions of clients from all over the world. It has also enjoyed being mentioned by many publications around the world due to its popularity such as Forbes, Yahoo! Finance, CCN, Bitcoin.com, and many others. As you shall see, this particular platform offers a lot more than most others, explaining why Coinsbit is listed 5th by 24-hour trading volume (over $1.3 billion).
Coinsbit exchange token
Most popular exchanges offer a native token to be used within the ecosystem. The most popular ones like those by Huobi, Binance, etc. even make it to the top 10 list of cryptocurrencies. Not to be left behind, this company launched CNB Coin (CNB) for the same reasons as any other platform. The most important reason is that holding CNB entitles you to receive discounts while trading on the exchange. These include trading fees as well as deposit and withdrawal fees. Trading fees are a major consideration, and being able to receive discounts means that traders can save a lot of money while trading. Besides discounts, CNB tokens are also a form of investment as you’re going to see in the next section.
Invest Box and P2P Loans
Invest Box was launched in mid-2019 as an additional service by Coinsbit specifically to provide investment opportunities for the passive trader. Here, clients holding different coins earn rewards based on the length of time they hold the coin. For instance, holding CNB tokens earns you 0.15% in profit every day. There is a huge list of coins that offer rewards, and everyone is free to hold the coins they feel have the highest returns for them.
In addition, a new P2P Loans feature has been made available so that individuals seeking loans can get them from other individuals without having to be limited by their credit score. This feature is safe because it is overseen by Coinsbit and both lenders and borrowers can feel safe in transacting on the platform.
Being a top crypto exchange in the world, you would expect that there are many coin pairs and cryptocurrencies and you will not be disappointed. Unlike other exchanges, Coinsbit also lists fiat currency pairs and accepts deposits in fiat too. Besides coins, you will also find Initial Exchange Offerings (IEOs) because there is a launchpad on the platform.