Foxbit is another Brazilian cryptocurrency exchange. The land of samba and football (“soccer” for you Americans) is actually also a wasp nest of cryptocurrency exchanges. There are many exchanges from Brazil in our Cryptocurrency Exchange List. The list includes – in addition to Foxbit – NovaDAX, BitcoinTrade, MercadoBitcoin, BitcoinToYou, Braziliex and FlowBTC.
The exchange seems to allow US-investors to trade, but US-investors should still do their own independent assessment of any problems arising from their residency or citizenship.
If you are a person who prefers to do your cryptocurrency trading while on your phone or reading tablet, you will be happy to know that Foxbit’s platform is also available as a mobile application.
Foxbit 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 cryptocurrency 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 ascertain that it feels right to you. The below is a picture of the trading view at Foxbit:
Foxbit Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers “makers” because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
Foxbit’s trading fees for takers are 0.50%. This fee is double the global industry average, but not in excessive compared to other South American exchanges. The exchange does however offer a discount to makers, thus promoting the liquidity at the exchange. This is a very strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders. The fee for makers are 0.25% of the order value.
Foxbit Withdrawal fees
Foxbit's withdrawal fee is 0.0009 BTC per BTC-withdrawal. This fee is around 50% above the global industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. just that, 0.0006 BTC per BTC-withdrawal. Foxbit's withdrawal fee is however not sufficiently high for us to recommend any prospective user to stay away from this exchange. 0.0009 BTC per BTC-withdrawal is not a "crazy high" fee and we can always hope that the platform will lower it going further.
Foxbit offers wire transfer as a deposit method, but you can’t deposit via credit card.