Tapbit, based in the US, is a cryptocurrency exchange that offers over 700 coins and tokens to traders in over 190 countries. This broker has a trading volume of over 20 billion dollars.
Tapbit copy trading has made trade copiers over 15 million dollars by copying 1,200+ master traders.
Tapbit Company Information and Regulation
Tapbit has quickly established itself as a reputable cryptocurrency exchange, boasting an impressive array of regulatory licenses that set it apart from many competitors.
The exchange secured its third global regulatory license, the Saint Vincent and the Grenadines Financial License (SVGFSA License), with registration number 2875LLC2023.
This adds to its existing US MSB & NFA licenses, further solidifying Tapbit's commitment to regulatory compliance and global expansion.
- SVGFSA License: A recognized cryptocurrency business license from an important offshore financial center;
- US MSB License: Allows for fiat currency business operations;
- NFA License: Provides general financial services authorization.
Tapbit Exchange Table of Specifications
To give you a comprehensive overview of Tapbit's offerings, let's break down it's offerings:
Exchange | Tapbit |
Launch Date | 2018 |
Levels | No |
Trading Fees | Maker 0.1%, Taker 0.01% |
Restricted Countries | China, Cuba, Hong Kong, Japan |
Supported Coins | +700 |
Futures Trading | Yes |
Minimum Deposit | Varies By The Currency Or Asset |
Deposit Methods | Crypto, Credit/ Debit Card |
Withdrawal Methods | Crypto, Credit/ Debit Card |
Maximum Leverage | 1:100 |
Minimum Trade Amount | Varies by The Trading Pair |
Security Factors | Cold storage, 2FA, KYC, $40 million insurance fund |
Services | Copytrading, staking, futures demo trading |
Customer Support Ways | Email, live chat |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | No |
Tapbit Exchange Pros and Cons
Let's weigh the advantages and disadvantages of using Tapbit Exchange:
Pros | Cons |
Low transaction fees | Staking options are limited |
Wide variety of available coins and tokens | No phone support |
Copy Trading | - |
Various bonuses | - |
Passive income opportunities with Tapbit Earn | - |
Tapbit User Levels Features
Unlike many major exchanges, Tapbit doesn't offer tiered user levels. Therefore, high-volume traders can't enjoy lower transaction fee on their spot and derivatives trades.
Since Tapbit fees are already low, traders won't have to pay endure huge cost when trading cryptocurrencies in this platform.
Fees and Commissions on Tapbit Exchange
Understanding the fee structure is crucial when choosing a cryptocurrency exchange. Tapbit offers competitive fees across its various trading products:
Trading Type | Maker Fee | Taker Fee |
Spot Trading | 0.1% | 0.1% |
Futures Trading | 0.02% | 0.06% |
It's worth mentioning that Tapbit has low withdrawal fees, which is great for transferring funds to a secure wallet.
Coins and Assets Available on Tapbit Exchange
Tapbit Exchange provides a diverse range of cryptocurrencies and trading pairs, catering to various investor preferences. Here's an overview of the assets offered:
- Major Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL)
- Stablecoins: USDT, USDC
- Altcoins: Doge coin (Doge), Tron (TRX), Arbitrum (ARB), Alt layer (ALT)
Key Points:
- Total Cryptocurrencies: Over 700 coins available for trading;
- New Listings: Regular addition of new, promising projects;
- Futures Contracts: Available for major cryptocurrencies.
Tapbit's extensive asset offering allows traders to diversify their portfolios and capitalize on various market opportunities.
The inclusion of both established cryptocurrencies and newer, innovative projects provides options for different trading strategies and risk appetites.
Futures and Margin Trading on Tapbit Exchange
Tapbit Exchange offers robust futures and margin trading options, allowing traders to amplify their potential profits (and risks) through leveraged positions.
USDT Perpetual Contracts:
- No expiration date
- Tracks underlying asset price closely
- Leverage up to 100x
Margin Trading:
- Available for spot trading;
- Borrow funds to increase position size;
- Varying leverage options based on the asset.
Tapbit has risk management tools like stop-loss and take-profit orders and real-time position monitoring to help traders minimize losses.
The funding rate mechanism, with periodic payments between long and short positions, ensures the contract price stays close to the spot price.
Traders can employ various strategies, such as taking long positions in uptrends, shorting in downtrends, or hedging to protect their portfolio.
Sing-up and Verification on Tapbit Exchange
Getting started on Tapbit Exchange is a straightforward process, which we will go through in 3 separate phases in this section.
#1 Access the Website or App
At first, visit the Tapbit website or download the mobile app via the App Store or Play Store.
Find the "Register" button and click/tap on it.
#2 The Form
Enter your email address or phone number in the registration form to register with Tapbit.
#3 The Verification Process
- Click on the profile icon in the top right corner and choose "ID Verification";
- Enter your personal details;
Enter your country of residence, full name, date of birth, and ID number to verify your Tapbit account - Upload your ID images (ID card, passport, or driver's license);
- Upload a selfie of you holding both your ID and verification date written on a piece of paper.
It's worth mentioning that the KYC process isn't mandatory.
Tapbit Exchange Platforms and Applications
Tapbit Exchange provides its own trading platform and applications to cater to different user preferences and needs.
Web Trading Platform
Traders can access this platform from their computer or phone using various browsers. Tapbit platform key features:
- Accessible through any modern web browser
- Full feature set for spot and futures trading
- Advanced charting tools and order types
- User-friendly interface suitable for beginners and professionals
Mobile App
For traders who want to have access to their trading account wherever they go, Tapbit offers an excellent mobile app. Key features of Tapbit mobile app include:
- Available for both iOS and Android devices;
- Offers most features of the web platform;
- Push notifications for price alerts and order executions;
- Biometric login options for enhanced security.
These platform options ensure that traders can access Tapbit's services in a way that best suits their trading style and preferences.
Tapbit Exchange Security Measures
Security is paramount in the cryptocurrency world, and Tapbit Exchange has implemented robust measures to protect user assets and data:
- Cold Storage: Majority of user funds stored in offline, multi-signature wallets, which reduces the risk of hacking and unauthorized access;
- Two-Factor Authentication (2FA): Mandatory for all withdrawals and critical account changes;
- SSL Encryption: High-level SSL encryption for all data transmissions;
- $40 Million Insurance Fund: Dedicated to cover potential losses from security breaches;
- Compliance with Regulatory Standards: Adheres to AML and KYC regulations, which helps prevent fraud and illicit activities on the platform.
Notably, the platform has never experienced a significant security breach.
These comprehensive security measures demonstrate Tapbit's commitment to safeguarding user assets and maintaining a secure trading environment.
Tapbit Exchange Payment Methods
Tapbit Exchange offers 2 main payment methods to accommodate users from different regions and with different preferences:
- Cryptocurrency Deposits: BTC, ETH (ERC20), TRX (TRC20), and more
- Credit/Debit Cards: Visa and Mastercard
Tapbit Exchange Trust Scores
Trust is crucial in the cryptocurrency exchange landscape, and Tapbit has been working diligently to build a positive reputation. Here's an overview of Tapbit's trust scores and evaluations:
Source | Score |
Trustpilot | 4.7/5 |
Sitejabber | 3.6/5 |
ScamAdviser | 55/100 |
Traders' reviews have generally been positive regarding Tapbit services.
Tapbit Features Overview
At a glance, the exchange provides access to these additional services:
Staking | Yes |
Yield Farming | No |
Social Trading | Yes |
Liquidity Pool | No |
Crypto Cards | No |
Tapbit Exchange Support
Tapbit Exchange provides comprehensive customer support to address user queries and concerns:
- Live chat: available 24/7
- Email support: support@tapbit.com
Traders can contact Tapbit support through these channels to get proper help on their issues.
Tapbit Copy Trading Services and Investment Options
One of the major benefits of trading in Tapbit is the simple copy trading feature, which allows traders to analyze successful traders and copy their traders.
This helps beginners save time and learn while gaining profits from the traders of professional traders.
Tapbit earn is another earning opportunity for crypto traders, which allows them to stake their coins for a specific amount of time and gain profits on their assets.
Here are some of the available coins and their APY for Flexible or Fixed staking in Tapbit:
Assets | APY |
BTC | 6% |
ETH | 6% |
USDT | 4% |
USDC | 4% |
GMT | 20% |
Tapbit Exchange Restricted Countries List
Although Tapbit services are available in many countries, some regions and locations are forbidden from trading in this platform, including:
- Cuba
- China
- Hong Kong
- Japan
Tapbit in Comparison with Other Exchanges
Here is a table comparing the discussed exchange in this article with worthy competitors in the industry:
Parameters | Tapbit Exchange | |||
Number of Assets | 700+ | 700+ | 1300+ | 400+ |
Maximum Leverage | 100x | 1:200 | 1:100 | 125x |
Minimum Deposit | Varies By The Currency or Asset | 1 USDT | N/A | $1 |
Spot Maker Fee | 0.1% | 0.0126% - 0.2% | 0.005% - 0.1% | 0.02% - 0.1% |
Spot Taker Fee | 0.01% | 0.0218% - 0.2% | 0.015% - 0.1% | 0.04% - 0.1% |
Mandatory KYC | No | Yes | Yes | Yes |
Futures Trading | Yes | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | No | Yes | Yes |
Staking | Yes | Yes | No | Yes |
Copy Trading | Yes | Yes | Yes | Yes |
TF Expert Suggestion
Tapbit’s low transaction fees for spot (maker 0.1%, taker 0.1%) and futures (maker 0.02%, taker 0.06%) allow traders focus only on gaining profit by trading 700+ assets.
However, limited staking options (BTC, ETH, GMT, USDC, and USDT) and low maximum returns ranging from 4% to 20% mean that this exchange has a huge room for improvement.