Probit Exchange Review
Probit Exchange is a cryptocurrency exchange platform founded in 2017. This exchange supports hundreds of crypto markets paired with USDT, BTC, and ETF and allows users to purchase crypto using fiat. The Probit Exchange also includes crypto staking services, support for IEOs, access to a crypto wallet, and more. Learn everything you need to know about this cryptocurrency exchange by reading our full Probit Exchange review.
- Low trading fees
- Hundreds of trading pairs
- Beautiful interface
- No derivatives trading
- Subpar staking services
About Probit Exchange
Probit Global exchange is a top-20 crypto exchange platform founded in 2017 and based in South Korea.
In addition to being a fully functioning and secure digital asset exchange, Probit also serves as a crypto wallet, staking platform, and initial exchange offering launchpad for global crypto investors.
If you want to learn all about Probit’s services and whether or not you should create a Probit account, stick around for this in-depth review.
The Probit exchange supports hundreds of crypto markets paired with USDT, BTC, and ETH, so traders of all varieties will almost certainly find the assets and crypto trading pairs they’re looking for.
If you want to purchase crypto with fiat under the “Buy Crypto” tab, Probit supports nearly fifty different fiat currencies, so fiat trading won’t be a problem regardless of where you are from.
However, customers using the Probit exchange can only exchange fiat currency for BTC, ETH, USDC, USDT, or DAI.
Fiat purchases are executed through MoonPay, Banxa, and Simplex, so Probit supports Visa, Mastercard, Apple Pay, Samsung Pay, SWIFT, SEPA, and more.
Probit Crypto Trading
The Probit crypto trading platform is incredibly aesthetic and user-friendly.
All the markets neatly line the side of the screen without any need to click a dropdown window like most other crypto exchanges, and the trade feed and panels are extremely readable.
Users can also toggle their charts between Probit’s charts or TradingView’s charts, and there are eight different layout presets to organize all the panels to your liking.
The biggest drawback to the Probit exchange is that it only supports limit and market orders, but that is generally good enough for the bulk of traders.
A final potential drawback to point out about Probit trading is although it technically supports margin trading, it has to be added through a margin trading API key.
The whole process is extremely complicated and even requires knowledge of Python, so it definitely won’t be an attainable integration for most traders.
On a more positive note, Probit Global does run trading competitions based on trading volume. The necessary trading volume to win can be quite high, but prizes extend all the way to 50th place.
Probit Exchange Trading Fees
However, like many crypto platforms, the Probit exchange offers fee discounts for holding and staking its native token (PROB).
The more PROB you stake, the greater the trading fee discounts, with the lowest fee rate traders can achieve being 0.05%.
That said, you can get an additional 0.02% in trading fee discounts if you pay your trading fees in PROB.
Aside from maker and taker trading fees, Probit also charges network fees for withdrawals that mirror just about every crypto exchange out there.
The withdrawal fees are extremely small, however, and there are no deposit fees.
Probit Crypto Staking
In addition to trading, Probit Global also supports crypto staking.
The supported assets are unfortunately limited to obscure altcoins, but there are still dozens of options.
However, only one or two options will be running at any given time, so time is another limiting factor.
The APYs can range anywhere from 6% to 365%, which might sound appealing, but anything in the double (let alone tripe) digits is not going to be sustainable and should probably be avoided.
The duration or lockup period for staking can be anywhere from 60 days to a full year, with the APY stretching higher the longer you decide to stake, but some assets only have one duration option.
Probit Initial Exchange Offerings
One of the more unique aspects of Probit Global is they support initial exchange offerings (IEOs), where users can get access to tokens as they first hit the market.
Probit has launched dozens of funding rounds, but only a select few will be open for purchase during specific time windows, so you will have to keep your eye on updates if you’re interested in buying.
Purchases of any new tokens can be made with PROB, USDT, BTC, or ETH, and you will even get a 5% discount if you purchase with PROB.
Investing in new token listings is highly speculative and potentially dangerous, but it’s still a great opportunity to access up-and-coming crypto projects.
Probit Exchange Crypto Wallet
Much like its exchange, the Probit exchange wallet supports hundreds of crypto assets.
The wallet itself is pretty standard, but it’s easy to use with a clear view of your balances and easy deposit, withdrawal, and trade buttons next to each asset.
Moreover, the interface for the actual deposit and withdrawal sections is extremely user-friendly, you can easily view your recent deposit/withdrawal history, and you can even select the blockchain you want to use.
Overall, the Probit wallet is very well made and usable. ItIt’sot exactly something to write home about, but it will be more than satisfactory to traders or anyone else using it to store funds.
Conclusion: Probit Exchange Review
After taking a detailed look at all its services for this Probit review, we believe Probit is an excellent exchange, but its trading functionality will likely be the main reason someone uses its platform.
With hundreds of markets, low trading fees, and a beautiful interface, most traders will find Probit very appealing.
That said, Probit doesn’t support derivatives trading, which could be a problem for many traders. Notwithstanding that concern, it remains a top-tier spot trading exchange.
However, PrProbit’staking services seem extremely dangerous in addition to being flat-out underwhelming, and most traders will not and should not be interested in participating in IEOs.
The only other service worth mentioning, the Probit wallet, is undeniably great, but that will naturally come secondary to its other features, so it probably won’t be a deciding factor.
With that in mind, the real reason to use Probit is its trading platform, which is exceptional.
If you want to participate in an IEO or check out its meager staking services, so be it, but IEOs are too niche for most traders, and the staking just doesn’t measure up to other crypto exchanges.
In short, Probit is a great trading platform with one of the better interfaces out there, but its excellence stops at trading, so you probably shouldn’t look to it for other services.