ProBit is a cryptocurrency exchange that is incorporated in the Republic of Seychelles (under the name ProBit Global) and in the Republic of South Korea (under the name ProBit Korea). The exchange in question in this text is ProBit Korea (which will be referred to simply as ProBit).
The exchange provides a broad variety of alternative cryptocurrencies, DeFi tokens, staking events, low-fee trading, and other well-known cryptocurrency services, all of which may be accessed after a quick and uncomplicated email signup process.
Users of ProBit have the ability to complete KYC up to the KYC Level 4 standard, which enables them to participate in initial exchange offerings (IEO) held by ProBit and conduct fiat (KRW) transactions.
ProBit can be accessed via a computer. However, it also has a mobile app, which is available only for Android.
ProBit crypto exchange supports both crypto-crypto and fiat-crypto (KRW only) trading. However, it doesn’t allow margin trading. The ProBit spot market has around 64 ProBit trading pairs, the most popular of which are USDT/KRW, OKB/USDT, and BERRY/USDT.
The ProBit Token (PROB), which is based on the ERC-20 token standard, is the native token of the ProBit crypto exchange. PROB is used for the following purposes:
- Trading fee discounts;
- Voting rights for listing new tokens proportional to the quantity of PROB;
- Bonus for referrals;
- Early access to the newly released features of the exchange.
The ProBit trading rate ranges between 0.03% and 0.2%, while staking PROB tokens provides traders an extra discount on top of that. There are a total of 12 membership levels available, ranging from VIP 1 to VIP 11. The quantity of PROB tokens that you have staked is what establishes your membership level.
The default ProBit trading fees are 0.2%. The fees can be paid using PROB tokens, which will provide you with an additional discount of 0.02% off each transaction. The ProBit exchange fees for trade pairs vary from 0% all the way up to 0.198% based on the total ProBit trade volume.
The PROB token is an important part of the ProBit ecosystem as it reduces trading fees, as well as provides staking incentives and referral bonuses. The referral benefits may vary anywhere from 10% to 30% of the ProBit crypto fees that the individual user recommended accrues. The referral incentive and ProBit crypto price increase in proportion to the amount of tokens a user wagers. According to the terms of the ProBit crypto exchange, the minimum amount of PROB that must be wagered in order to qualify for the 30% bonus is 100,000.
Moreover, there's a feature called ProBit Exclusive. It gives customers the opportunity to save money while purchasing certain tokens.
Also, users may trade brand-new and interesting projects in ProBit's trading competition. They climb the leaderboard and qualify for prizes if they perform well. A user's standing on the leaderboard is determined by how many tokens they trade. It is important to take note that a certain quantity of PROB must be staked in order to qualify for participation in any given tournament.
Furthermore, there's a variety of different staking options a user can choose from. Some of the tokens that may be staked have a defined date range, which means that stakers will only be able to unlock them on a certain day in the future. However, PROB stake mining is the main staking activity on the platform. By participating in this activity, users not only have the opportunity to earn rewards but also take advantage of reduced trading costs and referral benefits.
Lastly, another important feature of ProBit cryptocurrency exchange is initial exchange offerings (IEO). It's a type of crowdfunding in which crypto projects can raise money through a trading platform, in this case, ProBit. This feature is beneficial for new projects, as well as investors who seek for investing in promising projects.
About the Company
ProBit cryptocurrency exchange was founded in the year 2017 and officially established in 2018. It is located in Seoul, South Korea.
ProBit aspires to be the most worldwide, professional, and safe digital asset exchange for all types of traders. Its CEO Huyunsu Do and CTO Steve Woo are leading the charge in this endeavor.
The company is run independently by two distinct divisions: ProBit Global and ProBit Korea. The first one caters to crypto investors from all over the world, whilst the second one is a cryptocurrency exchange that is exclusive to South Korea.
The organization known as ProBit Global is managed by a company called ProBit Global Services Limited, and Seychelles is the location of the company's headquarters.