Tapbit

Tapbit (formerly Billance) is a global cryptocurrency exchange that focuses on providing a secure and stable trading environment. It offers spot and derivatives trading with high liquidity. Tapbit is known for its $40 million insurance fund to cover user losses in extreme market conditions or security breaches.

The platform includes features like automated grid trading bots and copy trading, allowing beginners to follow expert traders. Tapbit also offers "Tapbit Earn" for staking assets with competitive APYs. It is a legitimate exchange licensed as an MSB in the US and Canada, catering to traders who value safety and regulatory compliance.

Frequently Asked Questions

1. Is Tapbit regulated?

Yes, Tapbit holds a US MSB (Money Services Business) license from FinCEN and a Canadian MSB license from FINTRAC. This regulatory status allows them to operate legally in North America and signifies adherence to financial standards.

2. What is the insurance fund?

Tapbit maintains a $40 million insurance fund designed to compensate users in the unlikely event of a security breach or platform failure. This fund acts as a safety net to protect user assets.

3. Can I use copy trading?

Yes, Tapbit has a robust copy trading module where you can browse top traders, see their PnL history, and automatically replicate their trades. You pay a small profit-sharing fee to the trader only when you make a profit.

4. Do they require KYC?

Tapbit allows for unverified trading with lower withdrawal limits (e.g., 2 BTC per day). However, to unlock higher limits and access certain fiat features, you must complete the KYC identity verification process.

5. Is there a mobile app?

Yes, Tapbit provides a fully functional mobile app for iOS and Android. The app supports all trading features, including futures and copy trading, allowing you to manage your portfolio on the go.