Tidebit reviews and review of the official website of the exchange
TideBit is a Hong Kong cryptocurrency exchange focused on the home market, as well as on users from China, Taiwan, Vietnam and Malaysia. It offers cryptocurrency trading pairs against the US and Singapore dollars. Pairs of “cryptocurrency – cryptocurrency” are not represented on the platform.
Transactions on the platform are subject to a fixed commission of 0.3%, which is slightly higher than the industry average.
It is a platform for the exchange of digital assets. Supports Bitcoin, Ethereum and Antshares. The company has offices in two major cities – Hong Kong and Taipei. It is planned to expand services to Singapore, Korea and the USA. The exchange wants to add new assets and obtain a license that enables it to legally make Bitcoin exchanges in Japan. The problem is that in Hong Kong there are no specific provisions on crypto exchanges, and an attempt by the authorities to control the market can add to the control of Tidebit.
Advantages and disadvantages
The following platform advantages are distinguished:
- High performance. The cryptocurrency market is characterized in that the speed of operations on it plays a huge role. Just a couple of seconds can determine the difference between profit and loss. Tidebit features technology built from the ground up that protects the coin’s value chain from start to finish. This gives her the ability to instantly process transactions, providing customers with the most profitable current exchange rate.
- Simplicity. Most developers try to create a complex system by implementing many technologies and functions, most of which are not needed by users. Tidebit has all the main features, it provides customers with many services, while being one of the simplest cryptocurrency exchanges. Even a novice can quickly figure out the existing interface.
Users note several basic disadvantages of the platform:
- No trading available. Users can exchange digital currencies, but they are not allowed to trade. There is not even the most popular currency pair – Bitcoin / Ethereum.
- A small amount of coins. Only 3 cryptocurrencies are available on the exchange. This is very small, because even on small platforms there are several dozen coins.
- Relatively high overall commission. The transaction fee is 0.3%, which is slightly higher than average. An additional fee is charged from the deposit and the withdrawal amount. The fee for payment via ATM or bank transfer is 2%. If you withdraw fiat money, get ready to pay 0.1%.
Despite the large number of advantages, most users of the above disadvantages can repel. Lack of trade turns the exchange into a classic exchange resource. There are only 3 cryptocurrencies, even considering the possibility of using fiat money, this is very small.
Tidebit is a Chinese cryptocurrency exchange with many restrictions. At any time, the Chinese authorities can influence the stock exchange or completely close it. A small number of coins repels users, because there are many platforms on the network where there are much more cryptocurrencies. A level of security, unique technology and ease of use are the main advantages of Tibedit. They really attract, but a large number of shortcomings repel users.