Overbit Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- ₿0.001
- TradingView
- All major cryptocurrencies and coins, eight fiats, access to Forex, two-level unlimited referral program, no investment solutions, operational technical support, no commissions for depositing or withdrawing funds
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- ₿0.001
- TradingView
- All major cryptocurrencies and coins, eight fiats, access to Forex, two-level unlimited referral program, no investment solutions, operational technical support, no commissions for depositing or withdrawing funds
Our Evaluation of Overbit
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Overbit is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.92 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Overbit clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Overbit crypto exchange differs from similar platforms in its low commissions, significant leverage, modern security system, and high-quality support service. In addition to the TradingView terminal, the company has proprietary mobile trading applications for Android and iOS. A referral program with two levels of partnership is the only option for passive earnings. The platform focuses on active traders, therefore it does not offer any other investment solutions.
Brief Look at Overbit
The Overbit exchange is a popular international cryptocurrency and token trading platform. Users also get access to Forex trading. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Dash (Ð), Ripple, Bitcoin Cash, Cardano, NEO, XAU, and other cryptocurrencies and coins are available. Fiats include USD, GBP, CHF, AUD, CAD, CNY, KRW, and JPY. The commissions are below the market average, fixed, and independent of the trading volume, and they are 0.075% for taker/maker. An increase in profitability is possible due to leverage x100. The platform does not have VIP statuses, it does not offer investment solutions or additional options. All major options for depositing/withdrawing funds are possible, including bank cards. Clients of the exchange can enjoy passive earnings because of the two-level affiliate program and the Tier Points system.
- the most popular cryptocurrencies and coins are presented on the exchange, plus there are eight fiat currencies;
- the exchange charges small commissions that do not depend on the trading volume and other factors;
- there are no commissions for depositing or withdrawing funds, regardless of the channel the client uses;
- 2FA authentication and SSL encryption provide high levels of protection;
- the exchange offers a profitable referral program with payments for partners of the 1st and 2nd levels;
- standard trading terminal for the browser, easy to learn, fast and functional;
- the platform is subject to the laws of Seychelles, and there is a valid license.
- few cryptocurrencies in comparison with most of the leading competitors;
- no demo accounts and no training for beginners.
TU Expert Advice
Financial expert and analyst at Traders Union
Overbit was founded in 2017, and the crypto exchange was launched in 2019. The company has several offices in Seychelles, Singapore, England, and Hong Kong. Its activities are subject to the financial laws of Seychelles and are transparently regulated. There is a license. During the existence of the exchange, no evidence of fraud or violation of obligations to customers has been revealed.
Experts at the Traders Union tested the platform. No vulnerabilities have been identified. The crypto exchange has a modern security system based on deep encryption tools. To ensure the safety of user data and funds, a two-factor authentication system has been introduced, and part of the funds is stored using the cold method. The company employs the Bug Bounty program, which allows it to quickly identify the main vulnerabilities. At the moment, the program is still in operation, but there have been no applications on it for more than a year.
The crypto exchange is highly rated equally by beginners and experienced traders. Basically, they note low trading commissions, no commissions for deposit/withdrawal, a small minimum deposit, significant leverage, and the existence of mobile trading. Sometimes the lack of investment solutions is indicated as a minus, but Traders Union cannot assess this fact as a serious drawback of the platform.
Overbit Summary
Your capital is at risk. Margin Trading carries a high level of risk to your capital and you should only trade with money you can afford to lose. Margin Trading may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary.
| 💻 Trading platform: | TradingView |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, USD, GBP, CHF, AUD, CAD, CNY, KRW, and JPY |
| 💵 Replenishment / Withdrawal: | Bank cards, cryptocurrency wallets |
| 🚀 Minimum deposit: | ₿0.001 |
| ⚖️ Leverage: | Up to х100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | All major cryptocurrencies and coins, eight fiats, access to Forex, two-level unlimited referral program, no investment solutions, operational technical support, no commissions for depositing or withdrawing funds |
| 🎁 Contests and bonuses: | Yes (welcome bonus up to $120) |
To start trading on the exchange, you need to register, verify (optional), and make a minimum deposit of ₿0.001 or equivalent in any available asset. Each client of the exchange determines his own financial policy. He can trade both with his own funds and use leverage up to x100 to increase the profitability of trades. Communication with technical support is carried out through an online chat on the website (in the "Support" section). Also, representatives of the site can be contacted through the official accounts of the exchange in social networks (links to them are available in the footer of the site). The table below summarizes Overbit's main trading conditions.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.075% per order | No |
On Overbit, cryptocurrencies, coins, and fiats can be deposited through any channel without commissions. There are also no commissions for withdrawal, regardless of the asset or the withdrawal volume. This distinguishes the platform from the absolute majority of competitors, only very few crypto exchanges do not charge commissions for withdrawal.
| Broker | Average commission | Level |
|---|---|---|
|
$0.75 | |
|
$20 | |
|
$0.1 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
This crypto exchange does not offer investment solutions to its clients. The platform is focused on cryptocurrency trading as the main method to make money for its users. Also, clients of the exchange can earn by trading on Forex. The main option for passive earnings is inviting other users within the referral program.
Users can also passively earn Tier Points (TP). These are the points traders receive for each transaction they complete. The larger the trade amount, the more TPs will be credited to the client. TPs can be exchanged for BTC in the personal account. Points are exchanged in 1,000 TP increments. Every 1,000 points will give you ₿0.03, and, for example, 5,000 TPs will already provide ₿0.162. Bitcoins will be promptly transferred to the user's account as soon as he activates the function in the personal account.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Overbit’s affiliate program:
The exchange offers a profitable referral program with two levels of partnership. Every client of the exchange can take part in it. For this purpose, after registering on the platform, you need to go to the referral program page and fill out an application, indicating in what way the client will, first of all, disseminate information about the exchange among his contacts. This can be a profile on a social network, a corporate website, a Telegram channel, or another option.
Next, the client receives a personal affiliate link, which he can place anywhere. Also, a personal manager is assigned to the client, who is always ready to help and answer any questions. Each user who comes to the platform using a referral link can become an affiliate of the exchange client who invited him. To become a referral, a user needs to register within 7 days after clicking on the link.
After that, the referral trades and brings income to the user who invited him. Income is 30% of the commission for each trade. That is, for example, a referral sold BTC for USDT for $5,000. Commission is 0.075%, namely $3.75. Thirty percent of this commission is $1.125. This amount is received by the user who invited him. It is transferred to the inviting person's account within 24 hours after the referral makes the trade. Payments are made in BTC or USDT, depending on the base currency of the trade.
The client who invited the referral also receives payments for those users who were brought to the exchange by his referral. This is the second level of the affiliate program. Payments on it are 15% of the commissions of invited users. There are no restrictions on the number of referrals. All of them are displayed in the corresponding section of the personal account. The referral status is unlimited; it will be profitable all the time that referral trades on the platform.
User Satisfaction