MoonXBT is a cryptocurrency derivatives exchange registered in the Seychelles. It has been active since 2021, so quite a fresh addition to the crypto exchange world.
A derivative is an instrument priced based on the value of another asset (normally stocks, bonds, commodities etc). In the cryptocurrency world, derivatives accordingly derive its values from the prices of specific cryptocurrencies.
You can engage in derivatives trading connected to a number of all of the biggest cryptos here (see above under supported cryptos exactly which ones that are offered).
As advantages with the platform, MoonXBT themselves list six items on their website. First off, they state that they have low fees. That is true with respect to taker fees, but not entirely true with respect to maker fees (see more about this below under MoonXBT Trading fees). Second, they say that they offer high leverage, which can be helpful for traders interested in that. Third, there is a low threshold, meaning that all you need to start trading is 1 USD. This can be very helpful for any new crypto investors who want's to learn by doing but without risking large sums of money. Fourth and fifth, they claim to have an extremely simple interface with a transparent price chart. Sixth, and finally, they claim to have high liquidity.
MoonXBT also has separated ask and bid lines, and the weighted value of the global spot market is anchored in real time. The exchange has informed us that this is an important feature of MoonXBT, and that "other exchanges do not have this". The exchange has further declared that the concept of "light contract" was first proposed by the MoonXBT team on a global scale. Compared with conventional contract products, MoonXBT light contract is "simple, fast and easy to understand". It is a "everyone can understand in seconds, and everyone can use it"-type of contract.
According to information provided from MoonXBT to us here at cryptowisser.com, the platform does actually accept US-investors on its platform! However, any US-investor must remember that it is their own responsibility to report any earnings to the IRS.
MoonXBT also has an affiliate program. Through this program, you can earn up to 50% commissions on MoonXBT's trading fees generated from the contracts trading of your referrals. 50% is competitive level relative to the industry standards. Please be advised though that you need to apply to be a part of the affiliate program, and that the standard invitation program only gives you 30%.
You can sign up to the affiliate program here.
MoonXBT also offers leveraged trading to its users. They only offer perpetuals (i.e., futures without expiry dates), and no futures with expiry dates. The maximum leverage level for their perpetuals is 150x (for the BTC/USDT contract). A word of caution might be useful for someone contemplating leveraged trading. Leveraged trading can lead to massive returns but – on the contrary – also to equally massive losses.
For instance, let’s say that you have 100 USD in your trading account and you bet this amount on BTC going long (i.e., going up in value). If BTC then increases in value with 10%, you would have earned 10 USD. If you had used 100x leverage, your initial 100 USD position becomes a 10,000 USD position so you instead earn an extra 1,000 USD (990 USD more than if you had not leveraged your deal). However, the more leverage you use, the smaller the distance to your liquidation price becomes. This means that if the price of BTC moves in the opposite direction (goes down for this example), then it only needs to go down a very small percentage for you to lose the entire 100 USD you started with. Again, the more leverage you use, the smaller the opposite price movement needs to be for you to lose your investment. So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that MoonXBT’s trading platform is also available as an app for iPhone and Android users.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to MoonXBT is cryptocurrency. However, if you really like MoonXBT but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.
MoonXBT Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described.
This is the trading view at MoonXBT:
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
MoonXBT Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange offers a flat fee of 0.05% per trade. According to the most extensive industry report ever prepared on contract trading average fees, the global average contracts trading taker fee and maker fee was 0.063% for takers and 0.018% for makers. Accordingly, MoonXBT is slightly below average when it comes to its taker fees but a bit above average with respect to maker fees.
All in all, the fees here are attractive.
MoonXBT Withdrawal fees
There are exchanges out there that charge low trading fees but then hit you on your way out with high withdrawal fees.
According to the latest empirical study that we have performed on Cryptowisser.com, the global industry BTC-withdrawal fee is 0.00059 BTC per withdrawal. The network fees vary from day to day but are typically lower than the global industry average BTC-withdrawal fee.
At MoonXBT, you can only trade in contracts. This means that you, as far as we can understand the platform's offering, can't withdraw actual BTC. You only withdraw your USDT-winnings from the contracts you have traded. There are different types of USDTs and these different types have different withdrawal fee levels, as follows:
- USDT (OMNI): 28 USDT;
- USDT (ERC20): 10 USDT; and
- USDT (TRC20): 1 USDT.
The above withdrawal fees are quite decent.