Easybit
Exchange Fees
Deposit Methods
Cryptos (42)
Easybit Review
What is Easybit?
At EasyBit, we specialize exclusively in crypto-to-crypto exchanges, striving for unparalleled excellence in this niche. Founded in 2018 by experts in algorithmic trading and system development, EasyBit leverages cutting-edge technology typically found in hedge funds. It's sophisticated market analysis and order execution systems set us apart from conventional crypto exchanges.
The approach involves rigorous market analysis to determine optimal exchange paths, followed by smart order execution. This may involve splitting transactions across markets and time, as well as utilizing personal liquidity and spot markets for enhanced performance.
The result of its advanced systems and methods is superior rates and exceptional speed, especially for large-volume trades. This unique combination of expertise and technology benefits both customers and partners, ensuring that EasyBit consistently delivers top-tier performance in the crypto-to-crypto exchange market.
Volatility Protection Mode
The EasyBit Team has developed something they call the Volatility Protection Mode. According to Easybit, this is a "game-changing innovation in the field, giving users control over volatility". VPM is having the advantages of the floating and fixed rate in one mode. It works on the floating rate but if during the transaction the rates drop below a customizable percentage, VPM automatically triggers to cancel the transaction and refund the user. According to EasyBit, this avoids any loss.
Easybit Mobile Support
The platform is also available for mobile use. However, from the information we have been able to obtain, it seems as if it’s only available for download on Google Play and not on AppStore. This should mean that it is not available for iPhone-users. We assume that this is only temporary, as it seems weird to not develop an application for iPhones seeing how large Apple’s market share among mobile users is.
US-investors
Easybit does not offer any type of its services to any customer located in the US for the time being and lists US-investors as prohibited from trading.
Easybit Trading View
Different exchanges have different trading views. And there is no “this overview is the best” view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. At this exchange, there is essentially only an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase interface at Easybit:
Easybit API
The EasyBit API provides a reliable solution that can be seamlessly integrated into any project, enhancing its capabilities in a customizable and efficient way. Users can begin by reviewing the documentation and requesting an API key. A team of experienced developers is available around the clock to offer personalized support throughout the integration process.
API Fee Structure
Generate additional revenue by applying a customizable API Extra Fee on top of their standard fee. Through the API, you can adjust fees to match your specific requirements, whether it's per order, per project, or any other criteria that suit your business. The `extraFeeOverride` parameter allows you to override your default extra fee on a per-call basis, ensuring flexibility in fee management—your fee will be exactly what you specify in this parameter.
Whether you want to set a consistent fee across all orders, conduct A/B testing, or tailor fees for different projects, EasyBit provides the tools you need!
KYC Process
When the system detects suspicious patterns across multiple data points, matches with blacklisted data, or identifies a risk score exceeding the benchmark, the order is flagged and placed in Action Request status. Under these circumstances, KYC verification is required to proceed with processing the order.
To facilitate this process, a verification link is provided via the API, which can be displayed to users, allowing them to complete their KYC and proceed with their order without needing to contact the Partner’s support team. Alternatively, the support team can share this link through private Partner-support channels such as Telegram or Slack, making it easy for users to access the verification.
For premium API Partners, there is an option to perform KYC verification on their end and submit the verification details via the API, ensuring that users remain within their environment throughout the process. Once verification is complete, the order is automatically processed. The entire KYC process is seamless and typically takes less than 5 minutes.
If a user refuses to perform the KYC process, the deposit is refunded to the source address within a couple of hours.
Easybit Fees
Easybit Trading fees
The fees at Easybit are what we call flat fees, meaning that makers and takers are charged the same fee. Easybit's fees are 0.20% for both takers and makers. This is quite in line with the industry average, which has historically been around 0.25%. Today, however, we see more and more exchanges moving towards even lower trading fees such as 0.10%.
However, Easybit offers trading fee discounts when you reach a certain VIP-level. There are 10 levels and to reach the highest one you need to have a trading volume of 10,000 BTC per month. Trading fees go down to 0.10% if you are at the highest level. The exact trading fee discounts are set out in the below table:
Easybit Withdrawal fees
To our understanding, Easybit does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure.
Generally speaking, to only have to pay the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals.
Deposit Methods
This trading platform does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at Easybit. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. To find an exchange where you can purchase cryptocurrency with fiat currency (regular money), just use our Exchange Finder and we’ll help you through it.