UPDATE 11 November 2021: When trying to access the website of Tidebit today, we were unsuccessful. We just received an Eeror 1020 (Access Denied). There have been no preceding messages on system maintenance or new websites or anything similar.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
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Tidebit is a Hong Kong crypto exchange. There are many exchanges based in Hong Kong, more than in most other countries in the world. Hong Kong is in a way the Mecca of crypto trading.
A big difference between Tidebit many other exchanges, however, is that Tidebit does not allow crypto-to-crypto trading. So if you’re interested in depositing cryptocurrency, you need to look elsewhere (use the Exchange Finder to find an exchange for you).
On 24 June 2019, Tidebit launched its new design of its mobile trading interface. Tidebit’s trading platform has for some time also been available through mobile use and with the new interface, many users have switched to using the platform on mobile instead of via desktop.
US-investors may not trade here. The reason for excluding US-investors are primarily regulatory reasons. The US-legal regime imposes obligations on many companies accepting funds from US-investors. Such obligations include, inter alia, preparing marketing material in accordance with SEC-standards and registering them with the SEC (which is a very burdensome process). Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
This exchange also has something that is quite unique: crypto concept stores! The first one opened in Wan Chai 1 February 2020 and the second opened in Tsim Sha Tsui on 29 February 2020. The stores provide cash transfer-in and out and officially signify the entrance of Tidebit into the “retail market”.
On the date of last updating this review (21 September 2021), the 24-hour trading volume at this platform was USD 639,003 according to Coinmarketcap. On 23 March 2020, the corresponding amount was USD 182,998. The exchange has been in operation for more than two years now but the overall rate of growth in terms of trading volume has been below par. We urge any prospective users thinking of opening an account at this platform to be cautious, and to be aware that the order book might be very thing here from time to time.
Tidebit 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 Tidebit:
Tidebit Trading fees
This trading venue doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”, where the exchange charges both the taker and the maker the same amount. The flat fee is 0.30% for certain trading pairs and down to 0.10% for other trading pairs, as detailed below:
0.30%: BTC/HKD, ETH/HKD, EOS/HKD, NEO/HKD, BTC/USD, ETH/USD, XPA/ETH, CBT/ETH
0.20%: HKX/HKD, USX/USD
0.10%: BTC/USX, ETH/USX, XPA/USX, CBT/USX, BTC/HKX, ETH/HKX, XPA/HKX, CBT/HKX, EOS/HKX, LIKE/HKX, USX/HKX, ETC/HKX, LTC/HKX, BCH/HKX
These fees are also roughly in line with industry average.
Tidebit Withdrawal fees
Tidebit charges a withdrawal fee amounting to 0.003 BTC when you withdraw BTC. This fee is above average in the industry. One should consider whether Tidebit has a strong offering to investors in other respects that outweighs this higher withdrawal fee.
This trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card. And, as mentioned above, you cannot deposit cryptos.