Toobit Exchange Review 2026: Is This Platform Legit or a Scam?

Toobit is a global no-KYC crypto exchange that offers advanced trading features such as futures trading with 200x leverage, copy trading, automated trading bot strategies, and staking services to earn passive income on idle crypto assets. The platform is also safe, with no reported hacks since launch, and follows proper security measures like 2FA, cold storage, and a $50M insurance fund. However, it is not available to users in the United States.

In this Toobit review, we will cover what it is, how it works, the trading features it offers, the trading fees it charges, and whether it is a safe and legit exchange for cryptocurrency trading. We will also cover how to deposit, trade, and withdraw funds on Toobit.

Toobit Exchange Review: What is This Crypto Platform?

Toobit is a cryptocurrency exchange and trading platform, kind of like Binance or Bybit. You can use it to buy and sell over 1,000 cryptocurrencies (including big ones like BTC and ETH, plus lots of altcoins and meme coins as well). 

There are two main markets on Toobit: spot trading, where you trade coins directly, and derivatives/futures trading, where you can trade crypto with leverage (more on that later). Toobit also offers copy trading. It means you can follow and copy the trades of experienced traders, and it has built-in trading bots to help you automate strategies.

Also, Toobit claims to keep your assets safe with things like two-factor authentication (2FA) and cold storage, and it even has “Proof of Reserves” so you can check that your funds are really backed by real assets. The interface is quite clean, and the system is designed to handle a massive daily trading volume of over $1.2 billion without lagging. The site also highlights a “Rewards Hub” and staking or saving tools to earn passive crypto income.

Where is Toobit Based?

Toobit’s parent company is registered in the Cayman Islands. Its legal entity is called Hopeful Technology Co. Ltd., and being in the Caymans means it’s an offshore crypto company. 

Well, the team is scattered around the world (Europe, Asia, etc.), but the official registration is in Cayman. Plus, Toobit also got a VASP license in Poland. It’s a type of EU crypto license. It also has a Money Services Business (MSB) registration with FinCEN in the USA (though it later stopped serving US customers).

By the way, with offshore exchanges like this, there’s no single government backing, so obviously, you trade under your own risk. But Toobit’s location is similar to many other crypto firms. Again, if you care about regulation, note that it’s not US-based (even though it once had an MSB registration).

Who is Toobit Exchange Suitable For?

Toobit exchange is suitable for:

• High-leverage derivatives traders: The platform is a top choice for these users because it offers up to 200x leverage on major pairs like BTC/USDT and ETH/USDT. Basically, if you are looking for deep liquidity and advanced order types like trailing stop losses, this platform is built exactly for your needs.
• Privacy-focused individuals: You can start trading on Toobit immediately without completing any mandatory KYC verification. It allows for daily withdrawals of up to 20,000 USDT. Well, it really provides a middle ground for those who find the strict ID requirements of other major exchanges too intrusive for small-scale trading.
• Passive income and copy traders: The platform features a zero-slippage copy trading system where you can automatically mirror the exact entry and exit prices of top-performing “Lead Traders”. Also, the Toobit Earn section provides fixed and flexible staking options for stablecoins with very competitive annual returns, as high as 20% APR to be exact.
• Altcoin and meme coin traders: The exchange supports over 1,000 different digital assets and is known for being extremely fast at listing new trending coins from the Solana and Base ecosystems. You can also use the DEX+ feature to access on-chain assets directly from your spot account without needing to manage a separate external wallet or pay high gas fees.

Is Toobit Allowed in the USA?

No, not anymore. Toobit actually stopped all services to United States customers in 2024. Basically, that means if you’re in the USA, you cannot deposit, trade, or withdraw on Toobit. You see, this wasn’t always the case. They once had a US MSB license and accepted Americans, but they issued an official notice in mid-2024 saying US users had to withdraw funds, and trading was suspended.

So if you live in the States, you can’t use Toobit today. It’s restricted there. But yes, people outside the US (and outside other banned countries like Mainland China, North Korea, etc.) can use it freely. You know, this isn’t unique; many foreign exchanges block US customers.

What are the Pros and Cons of Toobit Exchange?

Pros of Toobit Exchange

• Massive Leverage: You can trade futures with up to 200x leverage on certain pairs like BTC/USDT, which is way higher than many competitors.
• Optional KYC: You can actually start trading and withdraw up to 20,000 USDT daily without finishing the full ID verification process.
• Zero-Slippage Copy Trading: The system for following lead traders is very easy to use and ensures you get the exact same price as the pro.
• Toobit Shield Fund: They have a $50 million fund dedicated to protecting user assets from hacks or system errors.
• Audit Transparency: The platform has been audited by top security firms like Hacken and SlowMist to ensure the code is safe.
• Staking and rewards: You can easily stake coins or earn interest on holdings (flexible or fixed lock-ups) to make crypto yield some passive income.
• Multiple funding methods: Generally, besides crypto, you can buy crypto with a credit/debit card, Apple/Google Pay via partners, or deposit via various networks. So, fiat on-ramps exist (though no direct bank wires).

Cons of Toobit Exchange

• Not US-friendly: As we noted, US customers are banned now, so if you’re American, you can’t use Toobit.
• No bank transfers: You can’t deposit or withdraw fiat directly to bank accounts, and only crypto deposits and third-party card services for buying. You see, no ACH or wire transfers means less fiat convenience.
• Withdrawal issues (some users): There have been reports (especially on Trustpilot) of accounts getting restricted or withdrawals being delayed. Well, this seems to be mostly related to bonus/ KYC issues, but it’s still a red flag for some experience.
• No options or exotic markets: Toobit has spot and perpetual futures but no stock-like options trading, NFTs, or direct margin pairs.

What Cryptocurrencies are Supported on Toobit Exchange?

The platform currently supports over 1,000 cryptocurrencies, which is a bit more than many other mid-sized exchanges. You can trade all the big names like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP. 

They are also very fast at listing new trending tokens, especially meme coins on the Base and Solana networks. Right now, they have 1500+ trading pairs if you count both spot and futures markets. You can pair tokens with USDT, USDC, or certain crypto pairs, and even smaller DeFi coins or new meme coins often show up on the platform.

But again, you need to just keep in mind that having lots of coins doesn’t always mean deep liquidity for every token. Basically, you will see that major coins have plenty of volume, but new coins might have thinner markets (so more slippage during trading). You can also check out our list of the best long-term crypto to invest in.

Toobit Exchange Review: Key Features and Trading Tools

The top features of Toobit crypto exchange are spot trading, futures trading with 200x leverage, automated trading bots, crypto copy trading, staking services to earn passive income, and a user-friendly mobile app.

Toobit Exchange: Spot and Futures Trading

Spot trading on Toobit is very straightforward and lets you buy assets to hold in your wallet for the long term. The interface uses TradingView charts, so you can draw your lines and use indicators like RSI or MACD without needing extra software.

You can pick a pair (like BTC/USDT, ETH/USDT, or even altcoin/USDT), set your price or market order, and execute a trade without many issues. There are hundreds of spot pairs, and one nice point is that all trades are crypto-to-crypto (so no direct USD or EUR pairs). You can trade with stablecoins (like USDT, USDC) on most pairs, and order books for major pairs (BTC, ETH, etc) are pretty deep, meaning good liquidity.

Now, futures trading is where things get really advanced (and risky). Well, on Toobit, you have perpetual futures contracts that let you speculate on price moves with up to 175x or even 200x leverage (depending on the contract). These perpetuals usually use USDT or USDC as margin (labeled USDT-M or USDC-M futures). 

So, you can either go long (bet price goes up) or short (bet it goes down) and choose how much margin to put up. Plus, they offer both cross-margin (all your futures positions share the balance) and isolated margin modes (each position’s margin is separate).

Toobit Exchange: Copy Trading

Copy trading is one of the most popular features on the platform because it is basically “set and forget.” Here, you can copy trades of other experienced traders. You can look at a leaderboard of the best traders, see their win rate (ROI), and then choose to copy their trades automatically. Generally, the trades happen with zero slippage, so you get the same entry price as the person you are copying.

You can also set a stop-loss on your whole copied portfolio, and if the leader’s trades start losing money beyond your comfort zone, you can exit copying at any time. Again, if you’re ever unhappy with how it’s going, just unfollow the trader or reduce the allocation. It’s really flexible. And there’s an earnings dashboard showing how much profit or loss you’ve made from each followed trader.

Toobit Exchange: Automated Trading Bots

Toobit has built-in trading bots that run your trades 24/7 according to set rules. Well, this is great if you like algorithmic trading but don’t want to code, and here, two main bot types are offered: Grid Bot and DCA Bot (Dollar-Cost Averaging / Martingale).

• The Futures Grid Bot creates a series of buy and sell orders at regular price intervals within a range you choose. Okay, so let’s say you set it on BTC/USDT between $70,000 and $75,000 with a grid of $100 increments. Now, the bot will buy a small amount at $70k, then sell at $70.1k, then buy at $70.2k and sell at $70.3k, and so on. The idea is that it “buys low, sells high” automatically whenever the price bounces up and down.
• The DCA (Dollar-Cost Averaging) Bot with Martingale is quite a bit riskier and more advanced. Generally, you need to define a starting position and a base unit size. Then, if the market moves against you, the bot will automatically increase your position size step by step (this is the Martingale strategy) to lower your average cost. Well, it’s like saying, “If price drops, keep buying more so that when it eventually rebounds, I profit.”

Toobit Exchange: Staking and Earning

Toobit Earn is the section where you can stake your idle crypto for earning passive income (APYs). Here, you’ll find two modes: Flexible Earn and Fixed Earn. It supports all the major cryptocurrencies like USDT, USDC, BTC, ETH, SOL, DOGE, TON, and more.

• Flexible Earn: You can deposit any supported token (say USDT or ETH) into a Flexible Earn pool, and it then earns you interest (calculated hourly). You can withdraw at any time with no penalty. The trade-off is that the interest rate is usually lower than fixed options, but it’s fully liquid.
• Fixed Earn: Here, you need to lock up a coin for a set period (like 7 days, 30 days, 90 days, etc.) at a guaranteed interest rate. Generally, this rate is usually higher than flexible because you give up access for that term. You get your original coins back plus the interest (credited often within 72 hours) when the lock period ends.

Toobit Exchange: Mobile App and User Experience

The Toobit mobile app is a full-featured version of the web exchange. It’s available on iOS and Android, and people seem to like it (around 4.8 stars on app stores). We have tested it and found that the overall user experience is quite smooth as well.

You can do everything on the app that you can do on the website. The charts and order books are clear enough even on a phone screen. They’ve designed it so you can do almost anything you’d do on a computer: trade, deposit, withdraw, follow traders, run bots. The layout is clean, and they have a Lite mode for beginners and a Pro mode for the experts.

What are the Available Fees on Toobit Exchange?

Toobit uses a maker-taker model for both spot and futures trades. Now, this means there are two fee types: a maker fee (for placing a limit order that adds liquidity) and a taker fee (for market orders or orders that take liquidity). The standard trading fees are 0.075%/0.1% maker/taker, and generally get a discount with high trading volume.

Toobit Spot Trading Fees

Toobit’s spot fees are competitive. As mentioned, 0.075%/0.100% is the base, and VIP users can go lower with further discounts based on trading volume (shown in the image below). 

Toobit also runs a market-maker program: if you provide large amounts of liquidity (orders), you might even get rebates on maker fees. But for most normal users, just remember 0.1% max. Also, for USDC pairs, they currently offer zero fees.

Toobit Futures Trading Fees

Futures trading is cheaper because the volumes are much higher and the contracts are different. Makers usually pay 0.02%, and takers pay 0.06%. Again, if you’re VIP, you can reduce these further, and there is also a special funding rate swap (charged every 8 hours), which can give or take a tiny fee depending on market conditions (standard practice on perpetuals).

Toobit Exchange: Deposit Fees

Crypto deposits are totally free. No matter which coin or network, Toobit does not charge you a fee to add funds. There may still be network or miner fees on your side, but Toobit itself takes nothing.

Now, for fiat purchases, Toobit doesn’t handle the deposit directly; it uses third parties (like Simplex or On-ramp providers). And, these providers may charge their own small fees (e.g., a 3-5% service fee on credit card buys). Toobit doesn’t add extra on top, but be aware that using a card has a cost from the card service too.

Toobit Exchange: Withdrawal Fees

Withdrawal fees on Toobit depend on which coin and which network you are using for the transfer. They don’t charge a flat fee; instead, it is based on the current network congestion and minimum network costs. Honestly, it is usually just the standard network fee plus a tiny bit extra for the platform to process the request.

Does Toobit Exchange Have Hidden Fees?

Toobit does not have any hidden fees that will surprise you later. All the costs are listed on their official fee page, and you can see the exact amount you will pay before you confirm any trade. 

Okay, the only thing to watch out for is the funding rate in futures trading. Basically, this is a small payment that happens every 8 hours (or sometimes every 4 hours for specific tokens) between long and short traders.

Toobit Exchange: Customer Support and User Feedback

Toobit offers a few ways to get help. There’s a 24/7 live chat on the website/app, and you can email them (support@toobit.com). They also have an FAQ and knowledge base (the “Academy”) covering most topics. Now, we tested their support and found out that support is fairly quick via chat for basic questions, and a bit slower over email for complicated issues. A plus: their staff seems responsive and professional, at least at first.

Now, on the user feedback front, Toobit’s got some mixed reviews. Trustpilot shows about a 2.9/5 average. That sounds low, but this is the same situation for most exchanges like Binance, Coinbase, etc. Here, many 1-star reviews are people complaining that their accounts got frozen or that withdrawals were delayed. A number of these mention something like “I made a small profit, and now they restricted me” or “I never even claimed the bonus, yet they locked me out.”

How to Open an Account and Start Crypto Trading on Toobit Exchange?

Step 1: Sign Up and Create a New Account

Go to toobit.com (or download the Toobit mobile app), and click “Sign Up”. You’ll need to provide an email or mobile number and choose a password. Then, enter the verification code sent to you (via email or SMS). This creates your new account. Now, read and accept the Toobit User Agreement and Risk Warning, and then fill in any basic profile info if needed.

Step 2: KYC Verify (Optional but Recommended)

You see, up to $20,000 in daily withdrawals, Toobit lets you trade without verifying identity. However, to fully use all features (like fiat deposits or high withdrawals), you should do KYC verification. This usually involves submitting a photo of your ID (passport/ID card) and a selfie. 

The process is guided on the site, as you just need to upload the requested documents and wait for approval (often instant or within a day). You don’t need to do it right now if you want to deposit crypto and trade small.

Step 3: Deposit Funds

Go to “Assets” and choose “Deposit”. Choose the cryptocurrency you want to deposit (e.g., USDT, BTC, ETH). The site will give you a deposit address (and select network). Copy that address. 

Now, from your external wallet or another exchange, send crypto to that address, and wait for network confirmations (time depends on the coin). Your funds will appear in your Toobit account shortly. 

Also, if you want to use fiat/card, instead click “Buy Crypto” and follow instructions (enter amount, verify identity on the payment app, etc.).

Step 4: Start Trading

Finally, with your account funded, head to “Markets” or “Trade”. On the desktop, you’ll see the trading terminal and choose a trading pair (for example, BTC/USDT). Enter how much you want to buy or sell and place your order (limit or market). You can also start leveraged trading.

How to Deposit and Withdraw on Toobit?

Depositing Crypto:

1. Log in and go to the “Assets” page, then click “Deposit”. You’ll see a list of coins and networks.
2. Select the coin you want to deposit (say USDT). Then choose the network (e.g. ERC20, Tron, etc.). Make sure you pick the right one, as sending to the wrong network can lose your funds.
3. Toobit will generate a deposit address (a long string) or a QR code for that coin/network. Copy that address carefully.
4. Now go to your external wallet or exchange (like Binance, MetaMask, etc.), and paste that address as the recipient. Enter the amount and send.
5. Confirm and pay the network fee. Then wait a few minutes (depending on network speed). Once the network confirms, your Toobit account balance will increase. You’ll usually see at least 1-2 network confirmations before it counts.

Withdrawing Crypto:

1. Go to “Wallet”, “Withdraw”, and then choose the same currency you want to send out.
2. Enter the destination address (where you want to send the coins; e.g., your personal wallet address). Select the network (must match the address).
3. Enter the amount you want to withdraw. Toobit will show the network fee and the final amount you’ll send. There is no extra Toobit fee beyond that.
4. You’ll have to confirm via 2FA/email. Enter the 2FA code from your app and click confirm. Toobit may also send a confirmation link to your email.
5. Once confirmed, the withdrawal request is submitted. The status will show as Pending. It usually takes a few minutes to a couple of hours for most crypto withdrawals, depending on the blockchain. If the network is congested (like the BTC mempool is full), it could take longer.
6. Also, if you’re just moving crypto to another Toobit user (internal transfer), choose that as the option (enter their UID or email), and it’s instant and free (no network fee).

Does Toobit Require KYC Verification?

No, Toobit does not require mandatory KYC for basic trading and daily withdrawals up to 20,000 USDT. But if you want to increase your withdrawal limit to 5 BTC daily, you will need to finish the Level 1 verification. Basically, the “No-KYC” limit is enough for most casual traders, but professionals will eventually need to verify their identity.

So, if you’re just testing or trading small, you can eventually skip KYC initially. You can trade on margin, spot, etc. But before you try a significant withdrawal or start using fiat services, it’s mandatory to verify.

What are the Toobit Alternatives?

The top Toobit alternatives are Binance, OKX, Bybit, MEXC, and Coinbase. You can also read our full Binance review here. Here’s a quick comparison:

Conclusion: Is Toobit Exchange Safe, Legit, and Trustworthy?

To sum up our Toobit review, it is a legit exchange that has proven itself since late 2022 by keeping user funds safe and providing a solid trading environment. The platform uses industry-standard security like cold storage and 2FA, plus they have a $50 million Shield Fund, which adds a lot of trust. Also, you can trade without KYC on Toobit as long as your daily withdrawal needs are under 20,000 USDT.

But again, the exchange is mostly unregulated and does not offer services in the United States due to regulatory restrictions. You also won’t find many fiat deposit options due to being an offshore exchange. Hence, overall, Toobit is legit and safe enough for serious traders, but like all crypto platforms, it has its limitations.

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