Beribit is this a scam? Review and Customers Reviews

Beribit is a cryptocurrency exchange founded in 2021 that offers trading of some of the largest cryptocurrencies by capitalization, such as BTC, ETH, and USDT. It is available to deposit in fiat currency by cash or bank transfer without commission, as well as in cryptocurrency. The company has an informative website with materials for beginners, a convenient terminal, and news.

Can we consider this young platform as a dubious platform and a scam scheme or is Beribit a reliable company that offers safe trading with low commissions? To find out, we have compiled this review.

Why Beribit?

Beribit is a young crypto exchange that offers trading with no commissions for makers and 0.15% for takers. You can replenish your account in fiat cash at the company’s office. There is no commission for operations in fiat.

Trading is done on a user-friendly terminal and popular cryptocurrencies are available. Support service works through several channels, including through popular messengers. Developed and profitable affiliate program, which allows you to receive additional income. Exchange beribit.com has several advantages:

• No fee for the deposit and withdrawal of fiat.
• Quick communication with support via Telegram.
• Professional legal support for clients from a regular partner.
• The high percentage of payments from the commissions of referrals to the affiliate program.
• Open liquidity in the glass.

How to Exchange Cryptocurrency at beribit.com?

In order to buy or sell cryptocurrency on Beribit, it is necessary to register. This procedure is standard and mandatory to get started. To do this, there is a “Registration” button, which opens the registration form. It is necessary to enter an e-mail, password and its confirmation, referral code (if any), and agree with the conditions. After sending the application, it is necessary to confirm the creation of an account by clicking on the link from the e-mail sent to the specified e-mail.

After creating an account, you will get access to your cabinet. To proceed to the exchange, go to the “Exchange” section and select one of the tabs: BTC/USDT, ETH/USDT, and USDT/RUB. The functionality of the exchange allows you to place limit (pending order) and market orders. To select the desired type, click on the “Market” or “Limit” button.

Information about all active bids, and trades, as well as the feed of total trades of all users is published in the table below. The following assets are available in the Beribit wallet: BTC, ETH, USDT, and RUB. Commission for deposit and withdrawal of cryptocurrencies (How to Make Money on Cryptocurrency?) is calculated automatically and depends on the network load, deposit, and withdraw fiat for free. If you are an active trader, you may be granted a credit limit. This is convenient for P2P traders who want to have more funds for transactions.

Verification on the Beribit platform

To trade on the exchange, you must not only register an account. To be able to deposit and withdraw funds, it is required to go through the verification procedure. To do this, the client must send photos of his passport or other identity card and selfies with the document. Also, you should confirm your address. To do this you can send a bank statement or utility bill.

Fund Deposit and Withdrawal

You can replenish your account in rubles in cash at the office in Moscow. To do this you need to leave an application on the exchange website. Click on the “Deposit” button in the “Assets” section and select the deposit method. Enter the amount from 10,000 RUB in the suggested field. After submitting the application, contact Beribit staff via the Telegram bot.

You can replenish your cryptocurrency account in the same section. To do this, click on the “Deposit” button next to the asset of interest. In the opened form, select the network, copy the address (you can use a QR code), and send the transaction. When it reaches the network, you will receive a TxID by which it can be tracked.

To withdraw funds in rubles, you need to leave an application in the same “Assets” section. Several methods are available: to card Sberbank or VTB, translation Tinkoff cash-in by contract number, Alfa Bank cash-in. You can also get money in cash at the exchange office. After selecting the option to receive on the card, enter its number and amount. The money will be credited within 60 minutes. If an application for cash withdrawal has been left, contact the employees of beribit.com through the bot in Telegram.

Cryptoexchange Commission

On the main page, there is information that the commissions are minimal. С makers are charged 0%, takers are charged 0.15%.

There is no fee for cash withdrawal and replenishment of fiat currency. There is a fixed fee for deposits and withdrawals in cryptocurrency. Its size depends on the asset and varies periodically. The amount is calculated automatically at the time of withdrawal request.

Beribit bonuses

The beribit.com platform offers a referral program.

Referral program

According to the rules of the affiliate program, by inviting new users to the platform Berylite by their referral link (available in the “My Profile” section), the user receives 35% of the amount of their transaction commissions. Charges are made as a percentage of commission to the account in RUB. Received funds are available for withdrawal immediately after accrual.

Complaints about beribit.com

There are no reviews of the company on the Internet yet. This is because it has only recently entered the cryptocurrency trading market. When the first comments about the exchange appear, we will be sure to add them to this section.

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Regulation of the Beribit Crypto Exchange

Today there are many cryptocurrency exchanges on the Internet, among which there are both honest companies and those who deceive users. To avoid becoming a victim of the latter, it is important to check if the cryptocurrency exchange has a license and to study the documentation published on the website.

Regulator

Because the company is young, it is not yet regulated by any state body. Now the exchange has applied for a cryptolic license and is awaiting review. There are several documents on Beribit’s website:

• Read the Beribit User Agreement.
• Read “Privacy Policy” on the exchange website.

User Agreement

The “Terms of Use” describe the requirements for users and the rules they must follow when trading on the exchange. Each client must guarantee that he or she is at least 18 years old. There is information about who is prohibited from becoming a user of the crypto exchange, for example, the citizens of the USA and some other countries.

Clients are reminded that trading digital assets is risky because of high volatility. The price of assets often fluctuates sharply, which can lead to significant losses. Therefore, users are asked to consider whether the company’s services are suitable for them. It is also stated that Beribit provides an order-matching platform and a digital wallet. If the company has reason to suspect that the customer has provided unreliable data about himself, his account may be blocked. The document publishes information on creating and deleting an account, exchange fees, compliance with the law, and damages.

Customer Service

You can contact the support specialists through one of these channels:

• email: [email protected];
• online chat on the website;
• Telegram bot: t.me/beribitbot;
• through their Instagram, Twitter, Facebook, and VK pages.

Is Beribit a Scam?

Beribit – cryptocurrency exchange, which began its work in 2021. It offers a simple trading terminal, trading in cryptocurrencies and fiat currency in rubles. There is an opportunity to deposit and withdraw funds in cash. The company’s website is informative, you can study the materials for beginners, the terms of use, and learn all the channels for contacting support. There are a lot of them, but the fastest option for communication is Telegram. There are no testimonials about the exchange operation so far. When they appear, we will publish them and be able to objectively assess the company and say whether Beribit scam. Now the exchange looks like a classic platform for trading cryptocurrency and fiat, which has a convenient terminal and good working conditions.

Conclusion

Beribit is a young cryptocurrency exchange where you can trade using large cryptocurrencies and fiat. The main difference between this company and similar ones is that it allows you to deposit and withdraw funds in fiat currency using cash. This service does not incur any fees. There is also a profitable referral program and educational materials for beginners. However, there are currently no reviews available. If you have used Beribit, please be the first to share your experience with us.