UPDATE 2 March 2020: It is currently not possible to access the website of this exchange. This normally means that the exchange has closed down. Accordingly, we have marked this exchange as “dead” in our database. We will monitor the situation and update here whenever there’s anything new to report.
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A crypto exchange guide must provide reviews of all the exchanges out there, so that you can find the right one for you. This review of 3XBIT consists of four parts: general info, fees, deposit methods and security.
3XBIT is a crypto exchange from Brazil that launched in 2018. The land of samba and football (“soccer” for you Americans) is actually also a wasp nest of crypto exchanges. The list of exchanges from Brazil featured in our Exchange List includes – in addition to 3XBIT – NovaDAX, BitcoinTrade, MercadoBitcoin, BitcoinToYou, Braziliex, FlowBTC, NovaDAX and Foxbit.
Out of many interesting initiatives that this exchange works with, is their focus on blockchain education. For instance, the exchange operates an Academy where they support college students and enthusiasts who want to learn more about the blockchain tech. They also have an education initiative focused on kids.
As far as we can tell, US-investors can trade at this trading platform. US-investors should however always try to figure out themselves whether there are any problems arising from their trading at one or several international crypto exchanges. Sometimes, state laws stand in the way for certain US-investors’ international crypto trading.
3XBIT also has a referral program for its users. It’s easy to participate, the only thing you have to do is to create an account, get your link, invite friends and then get your bonus (just as any other referral program really). Your bonus at this exchange will be “20% of the buy and sell exchange rates” that your invited friends create. We assume that the expression “buy and sell exchange rates” really refer to trading fees. If you have more than 10 invited friends, the bonus will be kicked up to 40%.
3XBIT Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at 3XBIT:
3XBIT Trading fees
How about the fees then? Well, 3XBIT is one of those exchanges who don’t charge different fees between takers and makers. Usually, we call such trading fees “flat fees”. 3XBIT offers a flat trading fee of 0.25%. These fees are in line with the industry average. Global industry average has for a long time arguably been just that: 0.25%.
However, today we are seeing more and more exchanges shifting to lower trading fees, such as 0.10%-0.15%. Within short, it is reasonable to believe that 0.10% will be the new industry average.
3XBIT Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. 3XBIT doesn’t. This exchange charges a withdrawal fee of 0.0005 BTC when you withdraw BTC. This is about 40% lower than the global industry average BTC-withdrawal fee (0.000812 BTC per BTC-withdrawal).
3XBIT does offer fiat currency deposits, but you can’t deposit via credit card. Also, you can only deposit BRL (Brazilian Real). So, if you for any reason would prefer to deposit to your choice of trading platform via your credit card, or through any other fiat currency then the BRL, then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits and other fiat currencies simply by using our Exchange Finder tool.
However, as 3XBIT at all accepts fiat currency deposits, it qualifies as an “entry-level exchange” where new investors can take their first steps into the thrilling crypto world.