Foxbit Cryptocurrency Exchange Review : Pros & Cons

About Foxbit

Foxbit is a cryptocurrency exchange based in Brazil. It allows users to buy, sell, and trade various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others, using Brazilian Real (BRL). The platform also offers a mobile app and has a user-friendly interface, making it easy for beginners to start trading cryptocurrencies.

Information Table

How To Register At Foxbit Exchange?

To register on Coinmetro , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Foxbit Cryptocurrency Account ?

There is no mandatory verification at Foxbit , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Foxbit , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Foxbit Crypto Exchange?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Foxbit Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Foxbit Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Withdraw

Fees taken when buying virtual currency

As a buyer, you get exactly what you see on your trade page. No additional fees are taken so you get the full BTC amount shown on the page. This does not necessarily match what you wallet considers to be the “BTC price”, nor the price of any other markets. Bittylicious makes money by charging sellers on the system a small fee to use the Bittylicious platform, so only sellers get charged a fee.

Compare to other markets if you want a real comparison, and also bear in mind that include withdrawal fees in each transaction whereas almost every other site else doesn’t. In particular, please check out the section marked Small Trades which explains that small trades have a higher comparative cost because of large network fees, and these are outside Bittylicious’s control.

Features Of Foxbit Crypto Exchange

Available At Android & IOS Store

Foxbit Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Convenient Payment Methods

Foxbit accepts a wide range of payment methods, including UK bank transfers, debit cards, and credit cards.

User-Friendly Interface

The platform has a user-friendly interface that is easy to navigate and use, making it accessible to users of all skill levels.

Trading Pairs

Foxbit supports a wide range of trading pairs, including BTC, ETH, XRP, USDT, and more. This allows traders to access a variety of cryptocurrencies and trade them against each other.

Low Trading Fees

Foxbit charges low trading fees of just 0.10% for market makers and 0.20% for market takers. This makes it an affordable option for traders of all levels.

Security

Foxbit has implemented several security measures to protect users’ funds and data, including cold storage of funds, two-factor authentication, and regular security audits.

Customer Support

Foxbit has a customer support team that is available to assist users with any issues or questions they may have.

Educational Resources

The platform provides educational resources such as webinars and tutorials to help users learn more about cryptocurrency trading.

24/7 Live Chat

If you’re awake, they are too. When you need help, your team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

Foxbit Conclusion

Foxbit is a cryptocurrency exchange based in Brazil that offers a convenient and secure platform for users to buy, sell, and trade various cryptocurrencies using Brazilian Real (BRL). The platform is known for its user-friendly interface, mobile app, security measures, customer support, educational resources, and real-time market data.

Foxbit has become one of the largest cryptocurrency exchanges in Brazil, providing users with a reliable and trusted platform to enter the cryptocurrency market. The company has implemented several security measures to protect users’ funds and data, and its customer support team is available to assist users with any issues or questions they may have.

Overall, Foxbit provides a great option for Brazilian investors who are interested in trading cryptocurrencies, and its user-friendly interface and mobile app make it easy for beginners to get started.