Is Toobit a Secure Cryptocurrency Exchange?

This document provides an in-depth analysis of Toobit, a well-known cryptocurrency exchange. We’ve invested significant time examining the platform, so if you’re trying to determine if Toobit is the right fit for your trading endeavors, this analysis will offer clarity.

Highlights: 

• Toobit offers a user-friendly, feature-enriched trading environment.
• Its security protocols have remained intact without any breaches.
• The sign-up process is remarkably straightforward.
• The platform is designed to cater to both novices and experienced traders.
• There are some drawbacks, notably the absence of bank transfer options for withdrawals.

Advantages:

• User-friendly for beginners
• Variety of trading choices
• Advanced capabilities for high-volume traders
• Demo trading is available
• Security features like Proof of Reserves (PoR), 2FA, and cold storage
• High liquidity levels

Disadvantages:

• Bank transfers are not an option
• Platform access is restricted for users in the US

Toobit Review 2025: Getting Started

Toobit operates as a centralized cryptocurrency exchange and is located in the Cayman Islands, established in 2022.

Aside from certain exclusions we will discuss later, Toobit serves users in over 100 countries, offering a wide array of trading services such as spot trading, leverage trading, copy trading, and automated trading solutions.

The interface is designed to be intuitive and user-friendly, making it accessible for both new users and seasoned traders.

Throughout our evaluation, we’ve pinpointed several crucial features worth noting, many of which we will elaborate on later. These include:

• Competitive fee schedule
• User-friendly interface with diverse functionalities
• A rich set of trading tools suited for both beginners and advanced traders
• A commitment to ongoing security improvements
• Comprehensive educational resources
• Support for an extensive range of cryptocurrencies

Creating an Account: KYC Requirements

This exchange is accessible in over 100 countries, although in July 2024, an announcement was made regarding service discontinuation for United States users, indicating that those based in the US cannot utilize its platform. According to the exchange’s official Terms of Service, services are also not available to users from Mainland China, Hong Kong, Singapore, and other designated high-risk areas.

For those not residing in these regions, setting up an account on Toobit is generally quite easy.

Just visit the homepage, look for the signup button, and register using one of the following methods:

• Email
• Google account
• Apple account
• Telegram account

Please ensure you provide an active email address, as you will receive a confirmation code to finalize your registration process.

Upon completing account creation, you can navigate to settings and initiate identity verification. There are two levels of verification: basic and advanced. The basic option requires minimal information and allows withdrawals up to 5 BTC every 24 hours, while the advanced option necessitates additional documentation and permits withdrawals of up to 50 BTC per day.

Both verification levels enable unlimited deposits and offer the ability to purchase cryptocurrency using fiat currency.

Tip: After setting up your account, visit the security center to activate two-factor authentication (2FA) through a phone number or an authenticator app like Google Authenticator.

Deposit and Withdrawal Options

Similar to most centralized exchanges, Toobit allows users to deposit cryptocurrencies directly into their accounts.

Additionally, users have the option to purchase cryptocurrency using a debit or credit card. However, you will need to complete at least the basic identity verification to access this feature.

When it comes to withdrawing funds, Toobit does not accommodate bank transfers. Users can only withdraw funds through on-chain transactions. Internal transfers between accounts are also allowed without any added fees beyond the standard network fee.

Cryptocurrencies Available for Deposit

Toobit supports a wide array of cryptocurrencies for deposits, including but not limited to:

• BTC
• ETH
• USDC
• SOL
• USDT, among others.

Security: How Safe is Toobit in 2025?

Summary: Based on current assessments, Toobit is regarded as a secure cryptocurrency exchange in 2025. It is audited by established firms, implements Proof-of-Reserves to ensure user funds are transparently backed, and prioritizes privacy and compliance with data regulations while employing robust encryption practices.

In our review, we placed a strong emphasis on evaluating Toobit’s security protocols.

Account Security Features

Let’s begin by examining the security features available to all users. These consist of:

• Two-factor authentication via email, phone, or authenticator apps.
• Anti-phishing codes sent to your email to reduce phishing risks.
• Third-party account linking for Google, Apple, or Telegram accounts.

These cover the essential account-level security measures typical of many exchanges.

Additional Security Protocols Implemented by the Exchange

In line with practices adopted by many leading exchanges, Toobit takes further steps to ensure the safety of user funds. To date, the platform has not experienced any security breaches. It continuously undergoes security audits by respected firms in the industry.

Furthermore, Toobit employs the following security measures:

• Proof of Reserves
• Scalable high-performance cloud infrastructure
• AES-256 encryption, zero-trust architecture
• Multi-factor authentication
• Cold storage for funds and periodic security audits

Trading on Toobit: An Overview

Toobit offers a robust suite of trading tools that facilitate efficient trading for both new and experienced users. The trading interface is familiar to users of other platforms, contributing to a seamless experience.

Cryptocurrencies Available for Trading

The exchange supports a vast selection of cryptocurrencies for trading on both its spot and derivatives platforms, including major options like BTC, ETH, XRP, DOGE, and numerous others.

Order Types

Toobit provides various order types for both spot and leverage trading. These include:

• Limit order: This executes at a predetermined price or better. When the market price meets the specified limit, the order will be executed at the best available price within that range.

• Market order: This straightforward order type executes immediately at the current market price.

• Trigger order: This order will be placed automatically when the market reaches a designated price level. You can choose to set it as either a market or limit order.

Toobit also offers advanced order types like OCO (One Cancels the Other) suitable for seasoned traders.

Fee Structure

Toobit’s fees vary for spot versus futures trading, as well as being influenced by your VIP status linked to your account balance. Below is a detailed breakdown of these costs:

How to Trade Spot on Toobit

Spot trading on Toobit is incredibly user-friendly. Simply select your preferred order type, set your parameters, and click the buy or sell button. Your assets will be reflected in your spot account instantly.

How to Trade Futures on Toobit

Futures trading requires a bit more setup than spot trading. Here’s a step-by-step guide:

Step 1: Choose the margin mode. The options available are Cross and Isolated. The Cross mode shares margin across all related positions, which can increase risk, while Isolated restricts margin to individual trades.

Step 2: Set your leverage. High leverage means heightened risk, so caution is advised.

Step 3: Select your order type. Use the same order types as previously defined in order to open your position.

Step 4: Monitor and close your position. Keep track of your position and close it through the interface directly as needed.

Copy Trading on Toobit

Copy trading has surged in popularity, allowing users to mimic the trades of more experienced traders. To initiate this feature, select a trader to follow and establish your parameters.

Note: be aware of the risks associated with copy trading, as the trader’s strategies may not align with your own risk tolerance.

Trading Bots

From the derivatives section, users can explore various trading bots. While these can automate trading, they do demand a good understanding of strategy and market dynamics to be effective.

TradingView Integration

Toobit’s futures trading platform is integrated with TradingView, which enriches user experience with advanced charting and analytical features.

Toobit Convert

This feature enables users to convert cryptocurrencies directly on the platform, facilitating easy exchanges among supported crypto assets.

Toobit Gifts

Toobit allows users to send cryptocurrency as gifts to contacts on Telegram. Options include standard and lucky gifts, adding an engaging element to cryptocurrency exchanges.

Toobit Customer Support

Toobit provides diverse support options, including rich educational resources and a FAQ section for self-help.

While some reviews on Trustpilot may raise concerns, many appear questionable upon examination. For example, concerns about deposit visibility should prompt users to consider their actions closely. Toobit actively engages with users leaving negative feedback, offering avenues for further discussion.

An AI support assistant is available for basic queries, while more complex issues can be addressed through ticket submissions in the help center.

Common Questions

Is Toobit regulated?

Toobit holds a financial license supervised by the Money Services Business in the United States.

Does Toobit provide Proof-of-Reserves?

Yes, Toobit offers Proof-of-Reserves to transparently affirm that user deposits are fully backed.

Is KYC required on Toobit?

While it’s not mandatory for account creation, at least basic verification is necessary for fund withdrawals.

Final Thoughts on Toobit in 2025

Having thoroughly evaluated the exchange and its offerings, we discern that Toobit delivers a highly user-friendly trading experience. Their focus on platform security is commendable, corroborated by the absence of reported security issues. However, there are inquiries regarding their MSB license in the US, particularly regarding restrictions for US traders, alongside the lack of bank transfer options—these are notable limitations. Still, Toobit remains a solid option for trading.