Toobit Review: A Simple and Affordable Crypto Exchange for Beginners

In this review, we take a look at Toobit, a crypto exchange platform that offers a variety of services, including spot trading, contract trading, and copy trading for Bitcoin (BTC), Ethereum (ETH), and other popular cryptocurrencies.

Toobit is a cryptocurrency exchange platform that offers a variety of services, including spot trading, contract trading, and copy trading for Bitcoin (BTC), Ethereum (ETH), and other popular cryptocurrencies. It is known for its user-friendly interface, competitive fees, and essential trading features. However, as Toobit operates in a competitive crypto industry, it raises questions about how the platform measures up to its competitors. In this full-on review, we’ll break down every aspect of the platform—from usability and supported cryptocurrencies to trading tools, security features, and customer support.

About Toobit

Toobit is a cryptocurrency exchange that has gained attention for its simplicity, competitive fees, and trading features. It aims to serve both beginners and experienced traders, and offers access to spot trading, futures trading, crypto staking, and various other features.

However, as Toobit operates in a rather competitive industry, it raises questions about how the platform measures up in a highly competitive crypto industry. Hence, in this full-on review, we’ll break down every aspect of the platform—from usability and supported cryptocurrencies to trading tools, security features, and customer support.

Toobit overview and features

Toobit’s focus on user accessibility and core trading functionalities make it a solid option for traders looking for a relatively simple platform. It appears that Toobit balances simplicity with including features like futures trading and API integration, ensuring that it appeals to as wide as possible audiences.

The platform supports the following digital assets:

Still, if we compare Toobit with its competitors, its offerings are somewhat limited in scope, making it better suited for traders who prefer a no-frills experience rather than some expansive, more advanced ecosystem.

Trading features

Toobit offers a range of trading features that cater to different levels of experience, from beginners making their first trades to advanced traders using algorithmic strategies.

The platform’s core trading options include:

Additionally, the platform offers API integration for automation, making it a versatile choice for traders with varying needs, as well as a copy trading feature. So, let’s explore these additional features in more detail now.

API and copy trading

The platform’s API access is a significant feature for advanced users. Traders can automate strategies, retrieve market data, and execute orders. This is especially appealing for high-frequency traders and developers.

On the other hand, Toobit offers a copy trading feature that allows users to automatically replicate the trading actions of experienced and successful traders within the platform.

This feature is particularly appealing for those new to trading or those who wish to benefit from the insights of more seasoned traders. When the trader you are copying makes a move, the same trade is executed in your account based on the proportion you’ve set.

Toobit offers two main copy trading options—Instant Copy Trading and Pro Trader Copy Trading.

Toobit Rewards feature

Toobit’s Rewards feature offers users various incentives to engage with the platform. Users can earn rewards such as USDT bonuses, discount vouchers, and other rewards by participating in different tasks and activities.

For example, new users can receive a bonus for their first deposit, and there are limited-time tasks that reward users for trading specific pairs or inviting friends to join the platform.

The Rewards Hub is accessible through the user’s account, where they can view their reward history and redeem available rewards. It’s important to note that different rewards have different expiry dates, and users must redeem them before expiration. Toobit also updates its rewards and tasks regularly, so users are encouraged to stay active and check for new opportunities to earn rewards.

Toobit derivatives

Toobit offers a variety of derivative products to enhance users’ trading experience. These products allow traders to leverage their positions, automate strategies, and practice in a risk-free environment. Now, let’s take a look at each of these.

USDT-M Perpetual

Toobit offers USDT-M Perpetual Futures contracts, allowing users to trade with leverage. Users can earn rewards by trading these perpetual contracts, which are highly leveraged and come with strict risk management measures to ensure the safety of funds. Rewards may include USDT bonuses and other incentives for active trading.

Lite Perpetual

Lite Perpetual is a simplified version of USDT perpetual contracts designed for ease of use. It offers a user-friendly interface and streamlined trading operations. Users can earn rewards by trading Lite Perpetual contracts, benefiting from transparent pricing, high liquidity, and advanced risk management tools.

Demo trading

Demo Trading allows users to practice crypto trading without risking real money. Users can familiarize themselves with the trading platform and test strategies in a simulated environment.

While demo trading itself may not offer direct rewards, it can help users gain experience and potentially earn rewards in live trading.

Bots

Toobit offers Futures Grid Bots, which are automated trading tools that execute predefined strategies. Users can set up grid trading bots to automatically place buy and sell orders within a specified price range. By using bots, traders can maximize potential returns and earn rewards through successful