ProBit

ProBit Global – is an exchange for cryptocurrency trading which appeared on the financial market in 2018. The project team is public and is represented on LinkedIn and other social networks.

In our review, we will analyze the opportunities offered by the project and find out if ProBit is a scam or a reliable cryptocurrency exchange for trading digital assets.

 

Why ProBit Global?

Probit is a cryptocurrency exchange that appeared less than two years ago. The project focuses on the international market, as evidenced by the multilingual interface. The main office of the company is registered in the Seychelles, where the regulation of the project is carried out.

The organization provides its clients with favorable and comfortable conditions for trading. Thus, users get access to more than 150 digital currencies. Including popular trading pairs: BTC/USDT, ETH/USDT, ETH/BTC, XRP/USDT, XRP/KRW, EOS/KRW, BCH/BTC, BTC/KRW and ETH/KRW. The main support on the exchange markets: Bitcoin (BTC), Etherium (ETH), as well as Teaser (USDT).

The company has also issued its own international utility token called Prob, which can be used to pay commissions (How to Make Money on Cryptocurrency?). A total of 200,000,000 tokens were issued in one time and the number will not be increased in the future. Token holders receive the following benefits:

• discount on trade fees;
• the right to vote on the listing of new tokens;
• increased referral bonus;
• access to new opportunities.

Marketplace has a simple and intuitive interface. Website probit.com is more suitable for experienced users, because for beginners there is rather little educational information. An experienced trader will be able to understand the basic functionality of the project in 15-20 minutes after registration. The following functionality is available on the platform:

• history in 24 hours;
• open orders;
• charts and indicators;
• the choice of the pair, as well as the prices of the current transactions,
• On the left you can select the pair of interest, and on the right you can see the price of the current transactions.

In order for traders to have uninterrupted access to the trading platform, a mobile application was developed. Thus, clients can access trading anytime and anywhere. At the moment, only the Android version is available. Each user is assigned a level, which directly affects the amount of commission. Also, participants with a higher level can get discounts on payments for transactions. To increase your level you need to be the owner of the tokens and actively use them. A total of 11 levels are provided. Some of the main benefits of the organization include:

• Russian version of the site;
• own token;
• loyal terms of cooperation;
• mobile app;
• high level of security;
• intuitive interface;
• 24/7 support;
• cold storage of currency;
• a large selection of digital assets.

 

How to exchange cryptocurrency on the probit.com platform?

To make an exchange Cryptocurrencies on the site, it is necessary to perform a few simple actions:

• go to the home page and select the “Exchange” tab;
• choose the necessary trading pair;
• fill in the order field by specifying the amount of cryptocurrency to be exchanged;
• click on the “Sell” or “Buy” button, depending on the customer’s needs at the moment.

 

Verification on the ProBit Global platform

Verification is an optional process on the project and is intended for those who want to use USDT in trading. The process consists of two steps. The first step is email confirmation, the user goes through during registration. To pass the second step, you need to perform the following actions. First, a new user has to fill in the information about himself:

• citizenship;
• first and last name;
• gender;
• date of birth;
• residence address and zip code.

Next, the client must choose a document that can confirm his identity. This can be a passport or ID card. You need to upload one photo of the document itself, and the second where the user is holding the document. The jpg, jpeg and png files with maximum size of 3 MB are suitable. Keep in mind that the verification process may take from several days to several weeks.

 

Deposit and withdrawal

To top up your balance, you need to go to your personal cabinet and select the “Wallet” section, which is located in the upper panel of the site probit.com. The next step is to perform a few simple actions:

• click on the “Deposit” button next to the selected currency;
• specify the amount of cryptocurrency to buy;
• copy the wallet address and paste it into the e-wallet from where the transfer will be made.

Funds are credited immediately after confirmation.

Withdrawal of earnings

To withdraw funds, you must also enter the “Wallet” section and select “Withdrawal of funds” against the selected cryptocurrency. Next, you need to make a few simple steps:

• insert the address of the wallet from which the transfer will be made;
• specify the amount of cryptocurrency to withdraw;
• press the “Remove” button.

The service does not accept any deposit methods other than cryptocurrencies. There is also no funds insurance for customers, but 95% cryptocurrencies are stored on a cold wallet.

Cryptoexchange Commission

The company charges several types of commissions.

Trade commissions

As mentioned earlier, each user has a VIP level, which directly affects the amount of trading commission:

• Level 0 – 0.2%;
• Level 1 – 0.19%;
• Level 2 – 0.18%;
• Level 3 – 0.16%;
• Level 4 – 0.14%;
• Level 5 – 0.12%;
• Level 6 – 0.1%;
• Level 7 – 0.09%;
• Level 8 – 0.08%;
• Level 9 – 0.07%;
• Level 10 – 0.06%;
• Level 11 is 0.05%.

You can also get an additional discount of 0.02% on commission payments.

Withdrawal fees

The company does not charge a fee for making a deposit, but there is a floating fee for withdrawals. For example, if withdrawing 1 VTB, the client will have to pay 0.0005 VTB.

 

ProBit bonuses

For its customers, the organization provides some bonuses.

Remuneration for trade mining

Depending on the VIP level, users are rewarded for trade mining. Thus, it is possible to get:

• Level 0 – 0%;
• Level 1 – 0%;
• Level 2 – 20%;
• Level 3 – 40%;
• Level 4 – 60%;
• Level 5 – 80%;
• Level 6 – 100%;
• Level 7 – 100%;
• Level 8 – 100%;
• Level 9 – 100%;
• Level 10 – 100%;
• Level 11 – 100%.

Contest

The exchange also periodically holds contests for different digital assets. To win a prize, it is necessary to conduct as many transactions as possible with the specified asset. You can see your place in the rating table on the website probit.com. It is also worth noting that ProBit Exchange reserves the right to cancel or change the rules of the events at its sole discretion.

Referral program

An affiliate program has been developed for active users who want to earn passive income. Thus, users can receive from 10 to 30% of commission. The client’s earnings directly depend on their level.

 

Complaints about ProBit

Although the organization has existed on the financial market for almost two years, one can find quite few reviews from users on the Internet. In general, the company has a positive reputation. Of the advantages, customers highlight a large selection of cryptocurrencies, low commissions and user-friendly interface of the site. Of the disadvantages, users note the absence of fiat currencies.

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Regulation of Probit Global Service Limited crypto exchange

The financial sphere is quite popular among fraudsters, so it is important to protect yourself from a negative experience of cooperation. To avoid falling for a scam, it is necessary to check the license, as well as the relevant documentation on the official website. Consider in detail how the regulation of the project. The official website probit.com lacks information that the project has any license. It also hides the address of the company’s headquarters. Documentation is publicly available to all users.

Read the “Terms and Conditions” on the ProBit Global exchange website

Probit.com User Agreement

“User Agreement” is the main document of the project, which every user should get acquainted with before starting registration on the project. The agreement contains the main rules of cooperation with the company, as well as the duties of the organizers and clients. The disadvantage is that the document is presented only in English, which may create inconvenience for users from the CIS countries. Let’s consider some points in more detail.

The agreement states that by accessing, viewing or downloading information from the site and using the service provided by the company, the user acknowledges the fact that they have read, understood and unconditionally agree to abide by the terms of the document. The client agrees to continue to abide by any amended terms and conditions, and the organizer is not required to give advance notice of such changes. The Client shall periodically check these terms and conditions for changes and continued use of the site and services offered by ProBit after publication of any changes to the terms and conditions shall constitute consent to such changes.

The customer knows and accepts the risk of operational problems. The company may experience sophisticated cyber-attacks, unexpected bursts of activity, and other operational or technical difficulties that can cause service disruption. The user understands that the service may have operational problems that can cause delays on the platform and agrees to accept the risk of transaction failure as a result of unforeseen or increased technical difficulties, including due to sophisticated attacks.

Users accept all consequences of sending tokens to the platform address. Token transactions can be irreversible. After sending tokens to an address, the customer assumes the risk that they may lose access to their tokens indefinitely. For example, the address may have been entered incorrectly and the true owner of the address may never be discovered, the address may also belong to an entity that will not return tokens, or the address belongs to an entity that may return tokens, but requires action from the customer, such as verifying your identity to begin with.

ProBit reserves the right to charge users for the use of platform services. At the company’s sole discretion, fees may be changed at any time. Adjustments to fees will be indicated in notices on the web page. It is the user’s responsibility to be aware of any adjustments that have been announced.

The user agrees that the company may, by notice in its sole discretion, terminate the client’s access to the site and account and take such technical and legal action as it deems appropriate to prevent the user from accessing the site if the organizer reasonably believes that the participant creates any problems, including but not limited to possible legal liabilities, intellectual property rights violations or actions inconsistent with these trading terms and conditions.

Notwithstanding anything contained herein, the company may, in appropriate circumstances and in its sole discretion, suspend or terminate user accounts for any reason, including without limitation:

• Attempting to gain unauthorized access to another user’s site or account or assisting others;
• overcoming software security features that restrict the use or protection of any content;
• use of the website for illegal activities such as money laundering, illegal gambling, terrorist financing or other criminal activities, (4) violations of these terms of trade;
• non-payment or fraudulent payment for transactions on the site;
• user unacceptability and unauthorized use of the site, including but not limited to the fact that the customer is under the age of majority;
• unexpected operational difficulties;
• at the request of law enforcement or other government agencies, if they are deemed legitimate.

The organizer may:

• suspend or terminate the client’s access to services;
• Deactivate or cancel the user’s account as required by a valid subpoena or court order, or if ProBit suspects the user or others of using his account for illegal activity.

If any transaction is pending at the time of cancellation or suspension of a customer account, such transaction may be cancelled or returned, as applicable. The user may not cancel their account if ProBit, in its sole discretion, believes that such cancellation is performed in order to evade investigation or to avoid payment of any amounts related to the company.

Customer Service

You can contact the support team using the feedback form on the company’s website, as well as on social networks and by e-mail: [email protected].

 

Is ProBit a scam?

ProBit is a cryptocurrency exchange, which appeared in 2018. During this period, the project actively developed and received a fairly large customer base. The service focuses on the international market, as evidenced by the multilingual interface. The headquarters of the organization is registered in the Seychelles, where the regulation of the company takes place.

The platform offers profitable and comfortable conditions for cooperation. Clients get access to trading more than 150 digital assets. The site features both popular trading pairs and lesser-known ones. The company has also released its own token, which provides owners with a number of advantages. The advantage is that the exchange has good liquidity and good daily trading.

For active users, various bonuses, contests, and an affiliate program are provided. Within the program clients can get from 10% to 30% from referrals’ commission. Also, for the convenience of clients there was created a mobile application. Thus, traders can get access to trading anytime and anywhere. An Android version is available.

The exchange appeared on the market less than two years ago and at the moment you can find quite few reviews from users on the Internet. In general, the company has a good reputation, although there are some disadvantages. Having analyzed in detail the opportunities that the project has implemented, can we conclude that Probit is a scam and fraudsters? No, because the company successfully provides its services to customers around the world.

 

Conclusion

ProBit – is a company that appeared on the financial market in 2018. During its existence, the project actively developed and became popular among users around the world. The service focuses specifically on the international market, as the site is translated into 7 languages. The organization itself tries to provide its clients with stable and favorable conditions for cooperation.

However, it is worth considering the fact that the process of trading itself is risky. Many inexperienced traders do not soberly assess their own capabilities and possible risks. To protect yourself, you should carefully study the trading rules set out in the documentation on the site, before you start registering. At the moment the exchange looks good among the competitors, although there is still work to be done. If you were or are a client of the company, leave your independent opinion about the work of the organization on our website to form a fair rating of cryptocurrency exchanges.