Toobit
⭐ Trust Score: 8/10
🏆 Arbi.TEAM 8/10
📋 Basic information
📊 Trading statistics
📖 About exchange
Toobit
An exchange built for retail trader convenience
Basic Information
| Founded | 2022 |
| Country | Cayman Islands |
| Type | Centralized Exchange (CEX) |
| Trust Score | 8/10 |
| CoinGecko Rank | #26 |
| 24h Volume (BTC) | 24,716.28 |
| Coins | 531 |
| Trading Pairs | 556 |
History
Toobit entered the market in 2022 and quickly caught the attention of retail traders with its simple interface and aggressive listing strategy. The team aimed to build a platform combining the convenience of a mobile app with the functionality of larger exchanges.
By mid-2023 Toobit had expanded to over 500 trading pairs and launched its own Launchpad program for token sales. The exchange marketed itself heavily through influencer partnerships and cashback programs.
In 2024 Toobit added copy trading features and upgraded its security infrastructure, including mandatory 2FA for all accounts. CoinGecko assigned a Trust Score of 8, ranking it 26th globally.
Key Features
Mobile App
Full-featured mobile application with fast order execution and push notifications.
Launchpad
Platform for participating in initial token sale events.
Copy Trading
Follow and replicate trades of successful traders with automated risk management.
Cashback Program
Partial rebate on trading fees for active users.
Cold Storage
Majority of funds stored in multi-signature cold wallets.
Trading Fees
| Operation | Fee |
|---|---|
| Spot — Maker | 0.10% |
| Spot — Taker | 0.10% |
| Futures — Maker | 0.02% |
| Futures — Taker | 0.06% |
| Withdrawal | Network dependant |
Security
Geography & KYC
Toobit is registered in the Cayman Islands. The platform is available in most countries except the US, China, and certain sanctioned jurisdictions. Minimum KYC (email verification) is required to start trading. Full withdrawal access and higher limits are granted after identity verification with a passport or driver's license.
Pros & Cons
Pros
- Large coin selection (531)
- Low futures fees
- Easy-to-use mobile app
- Cashback program
Cons
- Young platform with limited track record
- No major regulatory licenses
- Limited fiat deposit options
User Reviews
Users on Trustpilot and forums note that Toobit impresses with fast withdrawals and a wide variety of listed coins. Beginners appreciate the intuitive interface and educational content. Criticism mostly targets limited customer support hours and a lack of transparency about the team behind the exchange. Some users report longer chat response times during peak hours, which is typical for rapidly growing platforms.
Toobit offers sufficient spot market depth for medium-volume arbitrage. The cashback program is recommended to reduce net fees.
Working with Toobit showed stable API connectivity, though altcoin spreads can be wider than on top-tier exchanges. Withdrawals are processed quickly, which is critical for arbitrage strategies.