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The crypto derivatives space is booming, with numerous exciting projects being launched from time to time. Tbitex is undoubtedly one of the best projects in the subsector. It is fast becoming the platform of choice for professional and amateur traders. In fact, it is often considered the next biggest thing in crypto derivatives trading.
Tbitex is a relatively new company. Originally launched as a crypto derivatives trading platform, Tbitex runs a centralized cryptocurrency exchange, focusing on futures, spot, OTC, and other financial products. Registered in the United States, the company’s services are available across 20 countries and regions of the world.
Basic Information about Tbitex
- Exchange type: Centralized exchange
- Date launched: February 2021
- Location: The United States but serves users across numerous countries and regions
- CEO: Steven Li
As mentioned earlier, Tbitex is a relatively new company. However, the team is working hard to establish it as one of the very best crypto derivatives trading platforms. Since its popularity is improving significantly, it is necessary that potential users learn about the company, the exchange, and what the team is up to.
In this Tbitex review, we will discuss what Tbitex stands for and what makes it stand out. We will briefly consider how the company was formed, the vision of the founder/CEO, as well as how it has fared since its inception. We will also discuss its standout features and what it has achieved in the crypto universe.
Pros:
- Trading platform for crypto derivatives with high market liquidity and many users
- Highly secured trading platform with an independent security risk control team
- Working hard for the safety of users’ funds
- Easy to use with a friendly interface
- Offers standout features that are beneficial to all kinds of traders
- Exceptional customer support
Cons:
- Does not support deposits of fiat currencies or credit cards
- Needs additional features to attract more users
The Story of Tbitex
Tbitex was founded by Steven Li, who currently serves as the CEO of the company. The entrepreneur started his career in finance, working as a trader for HSBC. He rose to the position of an executive before leaving the company to build a team and start Tbitex.
Prior to founding Tbitex, Steven Li was unhappy with the world’s financial system, describing it as inherently imbalanced. He reportedly became interested in blockchain technology and cryptocurrencies in 2017, realizing that the industry has what it takes to revolutionize the finance sector and bring enormous wealth to anyone.
Steven Li started Tbitex with the hope of democratizing access to world-class financial tooling so that anyone around the world could benefit from the potential of blockchain-powered cryptocurrencies. This aspiration forms the basis of Tbitex’s mission:
- To build the best trading tool
- To offer an equal investment opportunity to all
- Empower everyone to achieve financial success
Leading the Industry and Planning For the Future
Though Tbitex has been around for just one year, it is recognized as a leader in the crypto derivatives space. The company focuses on providing the ultimate trading experience to users, prioritizing security and providing the necessary support for stress-free transactions.
Tbitex has been able to reach unexpected heights due to the vision of the founder and the culture of the company. Currently, it lists 61 cryptocurrencies, including two stablecoins. It also has more than 500,000 registered users at the time of writing this review.
Tbitex is currently expanding. It is penetrating the European market with unique features that will appeal to the market. It is also working on strategic partnerships that could result in exciting new products and services for its ever-growing user base.
From what we’ve observed, it is safe to believe that Tbitex will continue to improve in the coming years. The company is on a mission to build a world-class ecosystem that will offer the best tool as well as equal opportunity for anyone interested in cryptocurrency derivatives and similar products and services.
Tbitex Features
Like other cryptocurrency exchanges, Tbitex offers unique features. These are the real things that set the exchange apart from other crypto derivatives trading platforms. As quickly as possible, we will summarize the key features of Tbitex that create the exceptional user experience we all want.
Separate Position Mode
Tbitex has revolutionized futures trading by introducing what it calls ‘Separate Position Mode’. This innovative feature allows users to separate orders heading in the same direction. The implication is that users can open as many as 10 independent positions on a particular asset, adding closing positions to each order individually.
Separate Position Mode is an incredible feature, especially for advanced traders. It will allow them to adjust their trading strategies appropriately to suit market movements. It can also be a helpful feature for beginners as it can help them trade like professionals.
Trading Benefits
Trading benefit is a reward scheme on Tbitex that encourages traders to keep trading. It is actually a big deal because it offers users opportunities to win as much as 1,000 USDT or 100 USDT per day. Actual earning depends on users’ profits or losses.
According to the Trading Benefits scheme, if an order results in a profit of over 200 USDT and the profit rate is calculated to be over 100%, the trader is rewarded with 2% of the net profit generated from the order. If, on the other hand, an order results in a loss of over 200 USDT, the trader is compensated with 2% of the margin.
Reverse Positioning
Another helpful feature on the Tbitex trading platform is the reverse position function. It allows traders to reverse short and long positions during unfavorable market conditions. This feature automatically closes all holding positions at the best market price and simultaneously opens them in the opposite direction.
The major benefit of reverse positioning is that it minimizes losses. Once the direction of a price trend changes, the feature steps in to help users minimize losses and improve their chances of recovering immediately.
Full Compensation Program
The cryptocurrency market is extremely volatile and considered very risky. Tbitex understands this and has the right feature to help users recover from abnormal losses. In fact, this exciting program helps users recover from most losses that are considered abnormal.
The Full Compensation Program in Tbitex is a sort of insurance for traders. It will fully reimburse traders for abnormal losses caused by extreme price spikes, network downtime, network errors, as well as slippage greater than 0.3%. Users will need to submit a ticket when they contact customer support and wait for the team review. After the loss is verified, the trader will be reimbursed within 24 hours.
Tbitex Mobile Review
Like other top cryptocurrency exchanges, Tbitex provides mobile applications for its teeming users. The exchange has since released its apps for Android and iOS, making sure that current and potential users can trade and perform other important activities on the go.
With the Tbitex Mobile apps, users can trade crypto derivatives from their smartphones. The apps also support all the features discussed above with their attendant benefits. The added advantage of trading on the go makes them even more appealing. All the available assets on Tbitex can be traded through the apps. Users can also check the performance of their holdings with ease.
Is Tbitex a Safe Exchange to Use?
Regardless of the features and benefits offered by a cryptocurrency exchange, the most important thing to consider before choosing it is security. You need to be confident that your funds are in good hands and that the risks of losing them are minimal.
In terms of safety, Tbitex ranks favorably among crypto derivative platforms and other types of crypto exchanges. As mentioned already, the company prioritizes security, utilizing the best technology and embedding the best culture to protect the funds and data of users. The platform’s core technology was independently built by the team. Its innovative hot and cold wallet storage system is another strong amour.
Indeed, Tbitex learned from the failures of other exchanges. It is evident in the way the platform was built and the features the team added to enhance the security of the entire ecosystem. It also has an independent safety department, manned by specialists who work round-the-clock to find issues and patch them before they could be exploited by malicious individuals or malware. Tbitex has never been hacked.
Tbitex Review – The Verdict
From what we’ve covered so far, it is pretty easy to see why Tbitex is considered a leader in the crypto derivatives space. The exchange was properly built to serve all kinds of traders. In line with its mission and fundamental principles, Tbitex prioritizes safety and offers equal opportunity to all. It also has the necessary features to make crypto derivative trading fun and safer.
In this Tbitex review, we have covered the most important things potential users need to know before moving forward with the platform. It is considered a safe exchange for those who want to try their hands in crypto derivatives trading.
