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PROBIT-1234276995624 WikiBit 2023-07-25 12:16

ProBit Global is a cryptocurrency exchange that was founded in 2018. It is registered in Seychelles and has over 800 cryptocurrencies listed on its platform. ProBit Global has a high 24-hour trading volume of over $1 billion and offers a variety of features for traders, such as margin trading, stop-loss orders, and trailing stops. Trading fees range from 0.03% to 0.20%, depending on your trading volume.

⭐Features Details
⭐Exchange Name PROBIT Global
⭐Founded in 2018
⭐Registered in Seychelles
⭐Cryoptocurrencies 800+
⭐Trading Fees 0.03% ~ 0.20%
⭐24-hour trading volume $1 billion
⭐Customer Support A ticket support system, social media

What is ProBit Global?

ProBit Global is a cryptocurrency exchange that was founded in 2018. It is registered in Seychelles and has over 800 cryptocurrencies listed on its platform. ProBit Global has a high 24-hour trading volume of over $1 billion and offers a variety of features for traders, such as margin trading, stop-loss orders, and trailing stops. Trading fees range from 0.03% to 0.20%, depending on your trading volume.

Pros and cons

ProBit Global excels in these areas:

  • A choice of over 800 cryptocurrencies to pick from

  • Trading volume here remains consistently high throughout a 24-hour period, indicating active and bustling trading activity.

  • Supporting margin trading, enabling you to explore additional trading strategies and opportunities.

  • Offering a variety of features for traders, such as stop-loss orders and trailing stops

  • Engage in reward staking, a feature that lets you earn rewards based on your participation and holdings.

ProBit Global lacks these areas:

  • Holding a regulatory license labeled as “exceeded,” raising security concerns.

  • Availability varies across countries, not accessible in some regions.

  • Customer support is limited, not available 24/7, and responds slowly to tickets.

  • You can only get lower trading fees with large trading volumes.

  • Traders who want to trade on the go might find it inconvenient due to the lack of a mobile app.

  • ProBit Global isn't as transparent as some other exchanges, not showing order book data or liquidity provider details.

Pros Cons
800+ cryptocurrencies available Weak regulation
Supports margin trading Not available in some countries
High 24-hour trading volume customer service not decent
Earn rewards by staking No mobile App available
Not transparent as other exchanges
Lower trading fees yet with large trading volumes.

Regulation

ProBit Global is registered with the KOREA INTERNET&SECURITY AGENCY and holds the Common Finance Service License under regulatory number ISMS-KISA-2021-043. However, the regulatory status is marked as “Exceeded.

The Korea Internet & Security Agency (KISA) is a government agency under the Ministry of Science and ICT of South Korea. It was established in 2009 with the mission of “improving the global competitiveness of Korea's Internet industry.” KISA is a leading organization in the field of Internet security and promotion in South Korea. It plays a vital role in protecting the Korean Internet from cyberattacks and promoting the use of Internet technology for economic and social development.

Security

ProBit Global boasts that it takes security very seriously and implements a number of measures to protect its users' funds. These measures include:

  • Cold storage: The majority of ProBit Global's user funds are stored in cold storage, which means that they are not connected to the internet and are therefore not vulnerable to cyberattacks.

  • Multi-signature wallets: ProBit Global uses multi-signature wallets for some of its user funds. This means that multiple people must approve a transaction before it can be processed, making it more difficult for unauthorized individuals to access funds.

  • Two-factor authentication (2FA): ProBit Global requires all users to enable 2FA for their accounts. This adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

  • Security Center: ProBit Global provides a Security Center where users can learn about security best practices and check the security status of their account.

Cryptocurrencies available

ProBit Global lists over 800 cryptocurrencies. This includes a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Tether, USD Coin, Binance Coin, XRP, Cardano, Solana, Terra, and meme coins like Dogecoin and Shiba Inu. Here is a table of the top 10 cryptocurrencies by market capitalization that are available on ProBit Global:

ProBit Global also lists a number of other cryptocurrencies, including meme coins, DeFi tokens, and stablecoins. ProBit Global is a hit among traders who want lots of different cryptocurrencies. Plus, they're quick with new coins – they can list them in just 24 hours after getting the request. That's faster than most other exchanges.

Other Services

ProBit Global offers a diverse range of services catering to both seasoned crypto enthusiasts and newcomers, minus the basic cryptocurrency trading aspect. It features a vast selection of altcoins and decentralized finance (DeFi) tokens, allowing users to diversify their crypto portfolios. The platform is known for hosting staking events and offering low trading fees, which enhances the overall trading experience.

Furthermore, ProBit Global stands out with its 'ProBit Exclusive' premium listing platform and a VIP membership program. In this program, members can stake PROB, the platform's native token, to enjoy significantly reduced trading fees, sometimes as low as 0.03%. Special offers, such as discounts on cryptocurrencies like USDC, are also part of the ProBit Exclusive benefits.

The platform supports major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) as quote currencies. Users have the convenience of buying cryptocurrencies using a credit card or bank transfer, with the purchased assets directly deposited into their ProBit Global wallets.

For advanced users and developers, ProBit Global offers an API (Application Programming Interface) for integrating real-time market status, orders, cancellations, or user history into personal systems or applications. This feature is particularly beneficial for those looking to automate trading strategies or merge ProBits data with other software tools. These combined services make ProBit Global a versatile platform in the cryptocurrency space.

How to open an account?

Here are the steps on how to open an account with ProBit Global in around 6 steps:

1. Visit the ProBit Global website and click on the “Sign Up” or “Register” button to start the registration process.

2. Provide your email address, create a strong password, and agree to the terms and conditions of the exchange.

3. Verify your email address by clicking on the verification link sent to your registered email.

4. Complete the KYC (Know Your Customer) process, which typically involves providing personal information such as your full name, date of birth, and proof of identification. This step is important for regulatory compliance and to ensure the security and integrity of the platform.

5. Once your KYC documents are verified, you may need to set up additional security measures such as two-factor authentication (2FA) to enhance the security of your account.

6. After completing all the necessary steps, you should now have a registered account on ProBit Global and can start trading or using the platform's features and services.

How to buy Cryptos?

To buy cryptocurrencies on ProBit Global, whether through bank transfer or credit card, the process is user-friendly and secure. Here's how you can do it:

Buying Crypto with Bank Transfer:

  • Access ProBit Global: Visit the ProBit Global website and select “Buy Crypto.”

  • Select Currency and Amount: Choose your fiat currency and the amount you want to spend, then select the cryptocurrency you want to buy. Click “Buy” to move forward.

  • Choose a Service Provider: A list of service providers along with their current prices will appear. Identify those offering bank transfer options, select one, and click “Continue” to lock in the purchase price. The price is re-quoted every 30 seconds.

  • Agree to Terms: Read and agree to the terms and conditions by checking the corresponding box, then click “Confirm.” This action redirects you to the service providers website.

  • Complete Identity Check: On the service providers website, complete any required identity verification process, especially if it's your first purchase.

  • Enter Bank Details: After verification, select bank transfer as your payment method and provide your bank details like IBAN or other necessary information, depending on your fiat currency and the service provider.

  • Finalize Transaction: Complete the purchase. You can then track the transaction status in your wallet and view your transaction history.

Buying Crypto with Credit Card:

  • Start on ProBit Global: Go to the ProBit Global website and click on “Buy Crypto.”

  • Currency and Amount Selection: Select your desired fiat currency and the purchase amount. Then, choose the cryptocurrency you want to buy and click “Buy.”

  • Service Provider Selection: A list of service providers with current prices will be displayed. Choose a service provider and click “Continue” to lock in the price, noting that it will be re-quoted every 30 seconds.

  • Terms Agreement: Read through the disclaimer, agree to the terms and conditions by checking the box, and click “Confirm” to be redirected to the service providers website.

  • Identity Verification: Complete an identity check process on the service providers website, required for first-time purchasers.

  • Add Payment Method: Once your identity is verified, add your credit card as the payment method and proceed with the purchase.

  • Complete the Purchase: After completing the transaction, you can monitor its status by checking your wallet and transaction history.

  • Receive Crypto: Once the blockchain transfer is complete, the purchased cryptocurrency will be deposited into your ProBit Global wallet.

These steps ensure a smooth and secure process for purchasing cryptocurrencies on ProBit Global, whether you prefer using a bank transfer or a credit card.

Fees

Trading fees range from 0.03% to 0.20%, depending on your trading activities.

Stake PROB tokens and enjoy reduced trading fees, starting as low as 0.05%.

Higher PROB stakes mean higher membership levels and even bigger fee discounts.

Besides, you can get a discount by staking PROB. By staking PROB, your membership level rises, leading to more significant trading fee reductions.

Use PROB for Fee Payment: Use your PROB tokens to cover trading fees and receive discounts of up to 40%.

Additionally, when you pay with PROB, enjoy an extra 0.02% reduction on transaction fees.

Membership Level Staked PROB Amount Trading fee (when paying with fiat) Trading fee (when paying with PROB) Fee Discount Rate Referral Bonus
Standard 35,000 0.20% 0.18% 10% 10%
VIP 1 25,000 0.19% 0.17% 10.50% 10%
VIP 2 23,000 0.18% 0.16% 11.10% 10%
VIP 3 28,000 0.16% 0.14% 12.50% 20%
VIP 4 20,000 0.14% 0.12% 14.30% 20%
VIP 5 250,000 0.12% 0.10% 16.70% 20%
VIP 6 100,000 0.10% 0.08% 20% 30%
VIP 7 220,000 0.09% 0.07% 22.20% 30%
VIP 8 230,000 0.08% 0.06% 25% 30%
VIP 9 250,000 0.07% 0.05% 28.60% 30%
VIP 10 280,000 0.06% 0.04% 33.30% 30%
VIP 11 1,000,000 0.05% 0.03% 40% 30%

*This is a guess of the real trading fee, considering the PROB rewards you get.

Deposit & Withdrawal

ProBit Global only accepts cryptocurrency deposits, meaning you can't use regular money to buy or sell digital assets there. For deposits, you can only use cryptocurrencies.

ProBit Global Korea traders can put in South Korean Won (KRW) deposits, but it's only for those who prove who they are on the platform. ProBit Global doesn't charge any fees for putting in deposits, but there might be network fees when you take your crypto coins out of your wallet. How long it takes to withdraw depends on the crypto you're taking out and the network it's on. You can check the full list of deposit and withdrawal fee here: https://www.ProBit Global.com/en-us/transfer-fee

Educational Resources

ProBit Global offers learning materials to help clients understand how it operates, how to earn rewards and how to complete quiz.

Customer Support

ProBit Global provides lots of help to customers, including a big list of frequently asked questions (FAQs). Traders can also ask the support team for help. The support team is there all day, except on Saturdays and Sundays. They're open from 10:00 to 12:00 and 14:00 to 17:00 UTC, but they're closed on public holidays.

ProBit Global is also quite active on social media platforms, engaging with its audience and providing updates and information.

Is ProBit Global a Good Exchange for You?

ProBit Global maybe a good exhange for traders in the following types:

  • Active traders who want to trade frequently

  • Traders who prefer a wider variety of cryptocurrency choices

  • Traders who want to use margin trading

Has ProBit Global experienced any controversy?

Yes, ProBit Global has experienced some controversy in the past.

In 2019, the exchange was hacked and over $10 million worth of cryptocurrency was stolen. The exchange was able to recover most of the stolen funds, but this incident did raise some concerns about the security of the exchange.

In addition, ProBit Global has been accused of wash trading. Wash trading is a form of market manipulation in which traders buy and sell the same cryptocurrency in order to create the illusion of increased trading activity. This can artificially inflate the price of cryptocurrency and make it seem more popular than it actually is.

Compare ProBit Global with other exchanges

Features
Trading Fees 0.03% ~ 0.20% Maker: 0.04%, Taker: 0.075% Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5% Maker: 0.5%, Taker: 4.5%
Cryptocurrencies 800+ 500+ 11 200+
Regulation KISA ( Exceeded) Regulated by NMLS, MAS/FinCEN (Exceeded) Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

User Reviews

Franz Weber

18 May 2022

“I've been using ProBit Global for a while now, and I must say, I'm impressed. The security measures they have in place give me peace of mind when trading. The variety of cryptocurrencies available is great, and the interface is easy to navigate. The liquidity is decent, so I haven't faced issues with executing trades. Their customer support is responsive and helpful, making me feel valued as a user. Plus, the trading fees are quite reasonable. Overall, ProBit Global delivers a solid experience for crypto trading.”

David Jones

22 November 2021

“I had some hopes for ProBit Global, but it left me disappointed. The lack of strong regulations made me uneasy about the safety of my funds. The interface seemed a bit cluttered, making trading confusing at times. Liquidity was hit or miss, with some trades taking longer to go through. When I needed help from customer support, it took forever to get a response. And don't even get me started on the trading fees – they felt like a real punch in the wallet. I have to say, ProBit Global has a long way to go in terms of providing a user-friendly and reliable crypto trading experience.”

Conclusion

ProBit Global's got 800+ cryptocurrencies, high trading volume, margin trading, and staking rewards. But there are issues like weak regulation, limited countries, meh customer service. They offer lower fees for big trades, but no mobile app. So, while the coin choices and volume are cool, think about rules, service, and how clear things are before you dive in.

FAQs

Q: What cryptocurrencies are available for trading on ProBit Global?

A: ProBit Global offers over 800 cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, Ripple, Litecoin, and more.

Q: How can I register an account on ProBit Global?

A: To register on ProBit Global, you can visit their website and click on the “Sign Up” or “Register” button. Then, you will need to provide your email address, create a strong password, and agree to the terms and conditions.

Q: What are the fees for trading on ProBit Global?

A: Trading fees range from 0.03% to 0.20%, depending on your trading activities.

Q: What deposit and withdrawal methods are supported by ProBit Global?

A: ProBit Global may support various deposit options such as bank transfers, credit/debit cards, or cryptocurrency transfers. Similarly, withdrawal methods may include bank transfers or cryptocurrency withdrawals to external wallets. Users are advised to review the exchange's policies and guidelines for specific details.

Q: Can US citizens Use ProBit Global?

A: No, US citizens can not trade on ProBit Global.

Q: Are there any controversies surrounding ProBit Global?

A: Yes, ProBit Global has experienced some controversy in the past. In 2019, the exchange was hacked and over $10 million worth of cryptocurrency was stolen. The exchange was able to recover most of the stolen funds, but this incident did raise some concerns about the security of the exchange.

Q: How can I assess user satisfaction with ProBit Global?

A: To assess user satisfaction with ProBit Global, individuals can gather insights from online forums, review websites, and social media platforms where users may share their experiences regarding various aspects of the exchange. This can help form an objective and neutral understanding of user satisfaction.

Risk Warning

Cryptocurrency trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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