Coinsbit Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Coinsbit trading signals. You will learn what kinds of trading signals Coinsbit offers and what the conditions for using them are.
Short introduction of Coinsbit
The Coinsbit exchange is a platform for exchanging, buying, and selling cryptocurrencies. The company trades Bitcoin, Ripple, Litecoin, Bitcoin Cash, Ethereum Classic, and other cryptocurrencies. Defi coins are represented by Swipe, Loopeng, Republic, SushiTokerm, and Compound, etc. There are stablecoins. Coinsbit features crypto-fiat pairs with eight world currencies, including the US dollar and the Russian ruble. There is classic and advanced trading, trading through Metamask and OTC. Passive earning options include staking into blockchain projects and the ability to provide P2P loans. You can receive additional payments for participating in trading contests and the Bug Bounty Vulnerability Search Bonus Program. There is a three-level referral program, and you can enter your own coin on the platform.
| 💰 Account currency: | Cryptocurrencies, currencies |
| 🚀 Minimum deposit: | 0.00001 BTC |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
Coinsbit Pros and Cons
👍 Advantages of trading with Coinsbit:
•the most popular cryptocurrencies are traded on this exchange;
•there are eight crypto-fiat pairs;
•there’s the opportunity to invest profitably in the blockchain;
•loans in crypto;
•convenient application for mobile trading;
•simplified and professional cryptocurrency trading;
•high level of security (cold storage and WAF);
•high productivity (up to 10,000 trades per minute);
•low but fixed commissions for trading operations;
•a platform for launching cryptocurrency projects.
👎 Disadvantages of Coinsbit:
•no call center;
•no training courses.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Coinsbit Trading Signals
Coinsbit charges fixed trading commissions of 0.2% regardless of the trading volume, position (taker/maker), and the selected market. There are no commissions for depositing funds (except for USD and some coins), but there are commissions for withdrawing funds. But they depend on the specific asset and most often do not depend on the withdrawal volume. For most assets, withdrawal fees are fixed, but they calculate the USD as a percentage.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.2% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Coinsbit does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Can I test signals on a demo account?
If you mean copy trading, it depends on the broker. If the signals are provided as a newsletter or notification, you can decide where and how to test them yourself.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.