Toobit Exchange Review

Toobit Exchange Review: Quick Overview

Is Toobit legit and safe to use? Is it the right platform for you? Well, let’s figure that out together! But before we get into the details of this Toobit exchange review, here’s a quick cheat sheet of its key features to get you up to speed:

Table: Overview of Toobit features

Looking at the table, Toobit shines when it comes to ease of use and trading features. But if you're still on the fence and want more details, I’ll break things down further to give you a clearer picture.

Who's Toobit for?

After exploring the platform in depth for this Toobit review, I’d say it’s built for just about anyone, whether you're a total beginner or a seasoned trader. That said, its clean UI, intuitive design, and solid knowledge base make it especially welcoming for newcomers looking to get started without the usual learning curve.

On top of that, Toobit offers multilingual support and fiat currency integration, so language barriers and payment limitations won’t get in the way. With all that in mind, I think Toobit will be especially appealing to:

• New traders. The simple UI, quick account setup, and educational resources make it easy for newcomers to step into crypto trading without feeling lost. The copy trading feature is also a plus, allowing beginners to follow the strategies of more experienced traders.
• Intermediate traders. Toobit has a solid selection of perpetual futures markets, making it a strong choice for those looking to hedge or explore leveraged trading. There are also various trading bot options for a more automated, strategy-driven approach.
• High-volume traders. Its VIP structure rewards consistent trading with tiered fee discounts, making costs more manageable for those executing large trades regularly.

If you fit into any of these categories, I believe you should check out Toobit.

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Advantages

After spending a good amount of time exploring the platform, I found several key strengths that make Toobit stand out as a solid choice for traders:

• Versatile trading options;
• Smart automation tools;
• Intuitive platform interface;
• Strong security measures;
• Hassle-free account setup.

If I had to name one feature that really shines, it would be Toobit’s versatility in trading. It offers a strong lineup of perpetual contracts with leverage up to 175x while also maintaining a well-curated spot trading selection.

For intermediate traders, Toobit provides a decent range of automation tools. It supports DCA and grid bots, plus a handy AI strategy recommendation if you’re unsure which bot to use. And if you’re just starting out, copy trading makes it easy to follow experienced traders without needing deep market knowledge.

All these features are packaged in a clean, user-friendly interface. If you’re buying your first Bitcoin, you won’t have a hard time navigating the platform. And if you’re an experienced trader switching from another exchange, you’ll find it easy to get comfortable without much of a learning curve.

Toobit also takes security seriously. Beyond 2FA, anti-phishing codes, and advanced encryption, it also backs user assets with $94 million in proof of reserves, ensuring funds are accounted for and reducing the risk of financial instability.^[1]

To top it off, setting up an account is quick and straightforward. The process is smooth, and within minutes, you’ll be ready to trade—no unnecessary delays.

Limitations

Well, there’s no such thing as a perfect exchange, and while Toobit doesn't have any major issues, I can see a couple of things that might be dealbreakers for some:

• Bank transfer payments are not available;
• Unavailable for traders in the United States.

I noticed when going through the payment process that the platform doesn’t support direct bank transfers —at least not yet as of writing this Toobit exchange review. It’s not a huge issue since credit/debit cards and third-party payment providers are available. That said, having a bank transfer option could be useful for potentially lower fees and added convenience.

Another notable limitation is that US traders won’t be able to use Toobit. As of August 2024, the exchange has discontinued its services in the United States, most likely due to regulatory compliance requirements. Given how strict the country's regulation for crypto is,^[2] this isn’t exactly surprising, but it does mean that American users will need to find an alternative exchange.

📚 Read More: Best US Crypto Exchange

Fees and Limits

Now that you know the possible pros and cons of using Toobit, let’s take a look at the charges and thresholds you might encounter. Like many exchanges, it uses a VIP-level system (Lv.0 to Lv.6) based on your asset balance and trading volume.

Let me lay out a table to summarize the key details of Toobit’s fees and limits:

Table: Toobit fees and limits

Let’s get into more detail about the info listed in the table:

• Withdrawal fees. Withdrawal fees vary and are dynamically adjusted based on the cryptocurrency, chosen blockchain network, and current market conditions.
• Spot trading fees. Standard maker and taker fees start at 0.075% and 0.100%, respectively. However, active traders can significantly reduce costs, with fees dropping as low as 0.0125% for makers and 0.0375% for takers based on their VIP level.
• Futures trading fees. Futures traders start with a 0.020% maker fee and a 0.060% taker fee, but high-volume traders can unlock lower rates—down to 0.006% for makers and 0.030% for takers at the highest VIP level.
• Deposit fees. All crypto deposits are free, which is standard across most exchanges.
• Verification & limits. Your daily withdrawal limit depends on your KYC level. Basic verification allows up to 5 BTC per day, while Advanced verification increases the cap to 50 BTC daily.

As I've just mentioned, Toobit’s VIP program gives you fee reductions based on your account balance and trading activity. The more assets you hold or the higher your 30-day trading volume, the better the discounts you get. Here’s a more detailed breakdown:

Table: Toobit VIP tiers

The standard trading fees for both spot and futures on Toobit are fairly competitive compared to other exchanges. They’re not the absolute cheapest, but the VIP system can help you save a significant amount of money, especially if you’re an active, high-volume trader.

While Toobit's fee structure offers ways to lower costs, it may change from time to time, so it’s a good idea to check for updates regularly. Staying informed ensures you’re not caught off guard by adjustments that could impact your trading expenses.

Staking and Earning Rewards

For those looking to generate passive income from their digital assets, Toobit Earn offers an interesting option with stable returns.

What is Toobit Earn, you might ask? Well, it’s a digital asset growth service that lets you increase your holdings with various crypto products. Even if you’re new to the space, it’s easy to start with and designed to help maximize the value of your assets over time, with rates reaching up to 100% annually on select offerings.

The program offers two earning models based on your preferences:

• Flexible Earn. You can start whenever you want and have full control over your funds. Interest is calculated hourly, and you can withdraw both your original balance and earned interest whenever you want, with funds instantly credited to your account.
• Fixed Earn. This option lets you commit funds for a set period to earn a stable return at a fixed interest rate. Interest is calculated daily, and once the term ends, your original amount plus the interest earned is credited to your account within 72 hours.

As of writing this Toobit exchange review, the service only supports two cryptocurrencies (SOL and USDT) for a fixed period of seven days. More experienced traders might find this selection limited, but for beginners, this simplicity is a plus, making it an easy way to earn passive income with idle assets in just a few clicks.

📚 Read More: Best Staking Crypto Assets

Security

The competitive trading fees and potentially high earning returns might catch your attention, but before you jump in, you’re probably wondering— is Toobit safe?

First off, Toobit employs the Know Your Customer (KYC) process for some of its features and certain withdrawal limits. This step is standard for any regulated organization to confirm user identity so that it can prevent fraud, money laundering, and other illicit activities.^[3]

There are two levels of Toobit KYC verification:

• Basic Verification. You’ll need to provide some basic information, like where you live, your full name, and a government identification number (for example, from your ID card, driver’s license, or passport). Once you complete this step, you’ll gain access to higher deposit and withdrawal limits, the ability to buy crypto using fiat currency, and eligibility for more trial funds.
• Advanced Verification. It becomes available after completing basic verification. This step requires uploading additional documents and confirming your identity through facial recognition. Completing it grants even higher transaction limits.

Beyond KYC, Toobit provides several extra security features to help protect your account and assets. You can enable 2FA using either a third-party authenticator app like Google Authenticator or SMS-based authentication for an extra layer of login security. As Toobit states:

We integrate cutting-edge wallet solutions and compliance measures to protect your assets!

On top of that, Toobit also implements an anti-phishing code. This protocol ensures that emails sent from the platform contain a unique identifier so you can distinguish legitimate messages from phishing attempts.

If you’re still wondering whether Toobit is legit, it helps to know that the platform is licensed as a Money Services Business (MSB). This license serves as proof that it is authorized to conduct crypto financial transactions legally while ensuring compliance with regulations.

Additionally, Toobit maintains $94 million in proof of reserves to ensure asset transparency and security. This verification method confirms that user funds are fully backed, reducing the risk of insolvency or hidden lending practices.

So, looking at these security measures, I'd say Toobit is a legitimate and secure platform that takes user safety and asset protection seriously.

That said, keeping your assets safe isn’t just about the platform’s security—it also depends on the precautions you take. The features provided can only do so much if you’re not using them, so make sure to enable 2FA immediately, use strong passwords, and stay alert for phishing attempts.

📚 Read More: Cryptocurrency Security Guide

Customer Support

Based on my experience and other user Toobit reviews, I’d say its customer support leaves a positive impression for being responsive and helpful.

One of the first things you’ll notice when opening the platform is the Toobit Toby Bot, a customer support chat widget at the bottom-right corner of every page. Clicking on it instantly connects you to automated support, making it a useful tool for quick inquiries. If you need more personalized assistance, though, you can also request to speak with a human customer service agent.

If you prefer a different approach or have a more complex issue, Toobit offers a "Submit a Request" form. Here, you can explain your problem in detail and upload relevant files to help the support team better understand your situation. This way, your request reaches the right team, ensuring you receive a thorough and tailored response.

Additionally, Toobit has active social media accounts, including a dedicated Telegram channel for support, where you can report issues and ask for help. From my experience, they are quite impressive with their response times – my messages were answered quickly and professionally, showing that the support team genuinely cares about user concerns.

Speaking of prompt responses, I also noticed that Toobit’s support team actively replies to user inquiries on external platforms, including Trustpilot reviews and Play Store comments. It might seem like a small detail, but I always appreciate it when a platform takes the time to read complaints and respond with helpful solutions.

By the way, Toobit has an extensive knowledge base in its "Learn" section. With a wide selection of articles in Toobit Academy and a comprehensive FAQ section, the platform makes it easy for users to find answers without needing direct support. This is especially useful for people like me who prefer solving issues on their own first before reaching out to customer service.

All in all, Toobit shows that it values its users by offering accessible and effective customer support. In my experience, they live up to this promise, providing round-the-clock assistance with a friendly and professional approach.

Trading Tools

As I mentioned earlier in this Toobit exchange review, the platform offers a decent selection of trading tools that both beginners and advanced traders can benefit from. Here are some of the key features you’ll find:

• Fiat-to-crypto on-ramp for easy deposits;
• Copy trading to follow seasoned traders;
• Spot trading with over 300 trading pairs;
• USDT-M perpetual contracts with up to 175x leverage;
• Trading bots to execute strategies hands-free;
• API trading for custom integrations and automated strategies.

The first tool that I think is especially useful for beginners is the "Buy Crypto" feature. It lets you safely and easily purchase the digital currency of your choice using a credit or debit card. The process is simple: select the crypto and fiat currency, choose a provider, complete the payment, and your purchased assets will arrive in your account within minutes.

Another feature that’s great for beginner traders looking to improve is copy trading. This tool lets users replicate the strategies of successful traders, making it easier to learn and execute trades efficiently. It’s also easy to set up—you just pick a pro trader and copy their strategy directly, saving you time on opening, closing, and monitoring trades manually.

Toobit also offers a clean and user-friendly interface for spot trading, making it easy to execute trades smoothly. The platform supports two primary order types:

• Limit Order. Set a specific price at which you want to buy or sell. The order executes when the market reaches your target price.
• Market Order. Buy or sell immediately at the current market price.

For more advanced traders diving into derivatives, Toobit offers a selection of USDT-M perpetual contracts with leverage up to 175x. This provides greater flexibility, whether you're looking to maximize gains or hedge positions.

If you’re new to futures trading, the platform’s "Lite Perpetual" mode simplifies the process, making it easier to get started. That said, if it’s your first time and you feel inexperienced, I’d personally recommend starting with demo trading. It allows you to practice without risking real money by using a simulated trading account.

Toobit also offers a decent selection of trading bots, including futures grid and DCA bots, allowing traders to automate strategies with minimal manual input. For those who want even more control, the platform provides a robust API integration, granting access to market data inquiries and automated trading, ensuring a seamless and efficient trading experience.

📚 Read More: How Do AI Trading Bots Work?

User Experience

To make this Toobit exchange review more personal and hands-on, I tested the platform myself to give you a genuine first-hand experience. After spending some time exploring its features, I’ve got to say— it does live up to its promise of being a user-friendly platform.

My journey started with signing up and creating an account. Using the web browser version, I found the process pretty straightforward, thanks to a feature that lets you instantly sign up with Google, Apple, or Telegram. If you prefer, you can also register using your phone number.

Once my account was set up, I delved into the platform. Right away, I noticed that the design was really nice— everything looked clean and organized, which made finding my way around a breeze. I also really liked the color combinations—black, white, and blue—which gave the site a modern, high-tech feel that fits well with the crypto space.

Beyond just design, page optimization is also good. I didn’t experience any lag or stuttering; everything felt smooth and fast, even when switching between pages. There’s no sluggishness like you’d find on some cluttered platforms where pages fail to render properly. Plus, you can access it all via the Toobit mobile app.

When it came time to trade on Toobit, everything went off without a hitch. I was able to easily choose the coin I wanted to trade, enter my order details, and complete the transaction swiftly. There were no long waits or hitches in the process.

Now, more professional traders might want additional advanced features, like options contracts, enhanced stop-loss tools, or expanded earning opportunities. But for the general user, I feel Toobit delivers plenty – a smooth, fast, and reliable experience that covers all the essentials for crypto trading.

📚 Read More: Mastering Crypto Futures Trading Techniques

Localization and Regional Adaptability

Toobit’s done a great job making its platform accessible to users worldwide. As of writing, the site supports 12 languages, including English, Russian, Chinese, Spanish, Japanese, Portuguese, Vietnamese, Persian, Indonesian, Polish, and Dutch.

Beyond language support, Toobit lets users view their account balances in different currencies, making it easier to manage funds and handle transactions in their preferred local currency.

The language and fiat support is pretty strong, but what is Toobit’s country availability? Well, the platform is accessible in over 100 regions, which is no small feat. I’d say it really shows its commitment to accessibility and global reach.

That said, to stay compliant with regulations, Toobit doesn’t accept customers from certain regions, including Cuba, Iran, North Korea, Crimea, Malaysia, Singapore, Syria, the United States, the Bahamas, Bolivia, Donetsk, Luhansk, and Malta.

How to Use Toobit Exchange

By this point in my Toobit exchange review, you should have a good idea of what the platform is all about, including its advantages, disadvantages, fees, and features. If you think it's the right choice for you, the next step is to learn how to get started.

For this example, I’ll show you how to use the web version of Toobit, but don’t worry if you’re using the mobile app—the steps are very similar, so you can easily follow along!

How to Create a Toobit Account

Setting up an account with Toobit is quick and straightforward, making it accessible even for first-time users. Here’s how to do it:

Step 1: Visit the Toobit Homepage. Go to Toobit’s official website and click on the [Sign Up] button in the top-right corner. Alternatively, you can enter your email or phone number directly into the sign-up form box located in the middle of the screen.

Step 2: Enter Details. Create your account by entering either your email address or phone number. Next, set up a password and agree to Toobit's Terms of Service and Privacy Policy by checking the required boxes. Once done, click [Create Account].

Step 3: Email Verification. After signing up, Toobit will send a 6-digit verification code to your email. This code must be entered within 10 minutes, so check your inbox promptly.

Step 4: Enter the Code. Open the verification email, locate the code (it should be in the first line of the email), and enter it on the Toobit sign-up page. Click [Submit] to verify your account.

How to Deposit on Toobit

After creating an account, you’ll need to deposit funds to start trading. Of course, you can also buy crypto instantly using your debit or credit card, but if you’re looking to deposit from an external wallet or exchange, here’s how:

Step 1: Click Deposit. At the top of the homepage, click [ Deposit ] (next to the "Assets" button). You can also use the larger [ Deposit ] button located in the middle of the screen.

Step 2: Choose Asset. On the deposit page, select the cryptocurrency you want to deposit. For this example, I’m using USDT.

Step 3: Select the Network. From the dropdown list, choose the network that supports your deposit. Make sure the withdrawal platform or wallet you’re sending from also supports this network to avoid transfer issues.

Step 4: Copy the Address. Toobit will generate a unique deposit address for your selected asset. You can copy the address manually or scan the QR code for quick access.

Step 5: Complete the Transfer. On your external wallet or another exchange’s withdrawal page, paste the copied address or scan the QR code to initiate the deposit. Then, wait for network confirmation to finalize the transaction.

How to Withdraw From Toobit

Withdrawing from Toobit is just as easy as depositing. Simply follow these steps:

Step 1: Access Withdrawal Page. Hover over the [Assets] button in the top-right corner of the homepage and click [Withdraw].

Step 2: Select Asset. Choose the cryptocurrency you want to withdraw from your Toobit account.

Step 3: Choose Network. From the available dropdown list, select the network that supports your withdrawal. Make sure it matches the receiving wallet or platform’s supported network to avoid losing funds.

Step 4: Enter Details. Input the withdrawal amount and the destination wallet address to which you want your assets sent. Double-check all details for accuracy, then click the [Withdraw] button.

Step 5: Complete Security Authentication. A security verification prompt will appear. Enter the required verification codes for each 2FA method enabled on your account.

Step 6: Confirm and Finalize. Before completing the transfer, carefully review the risk warning. Double-check the wallet address, as transactions can’t be reversed once sent to the blockchain. If everything looks correct, select [Trust This Address], then click [Withdraw] to proceed.

Once the withdrawal request is submitted, you can track its status under the "Recent Withdraw History" section. The status will update to "Completed" once the withdrawal is fully processed.

Pros

• Secure and reliable
• Accepts fiat currencies
• Lots of trading options

Main Features

• Reputable exchange
• Accepts fiat currencies
• Offers various trading options

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions: Is Toobit Right for You?

If there’s one key takeaway I’d highlight from this Toobit exchange review, it’s that the platform delivers an intuitive, well-designed user interface. Everything just feels natural, making it effortless to navigate—even if you’re a first-time user buying your first Bitcoin.

More experienced traders, on the other hand, will appreciate access to advanced features like perpetual contracts, smart automation, and solid API integration. With strong security measures backing it all up, the platform stands out as a reliable choice for traders of all levels.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Pines M., Zell D., McCarty G., et al.: 'Proof of reserves: A report on mitigating crypto custody risk';

2. Emmert F.: 'The regulation of cryptocurrencies in the United States of America';

3. Chen T.-H.: 'Do you know your customer? Bank risk assessment based on machine learning'.