Tapbit Review 2025

Our Verdict

🏢 Tapbit is a non-KYC crypto exchange, founded in 2021 in the U.S.

⚠️ Security is not a strong point, so users should be cautious when handling large amounts.

💳 Deposits are only available via third-party providers, which may limit convenience.

💰 Competitive trading fees of 0.1% maker / 0.1% taker.

⚖️ Strong in derivatives trading, offering up to 150x leverage.

🔐 Copy trading feature lets users follow and replicate the strategies of seasoned traders.

✅ Best suited for experienced and derivatives traders.

Tapbit Pros and Cons

Is Tapbit Right for You?

Traders have different needs: some prefer simple apps for quick trades, while others look for advanced tools like leverage or social trading. We classify traders into seven main groups and evaluate how well exchanges meet their specific requirements. Tapbit is not suited for DCA, social trading, or margin trading, as it lacks support for these features.

Here’s our verdict for other types of traders:

Supported Countries and Regions

Tapbit operates in over 190 countries, offering global access to its trading platform. It claims that it does not provide services to residents of Cuba, China, India, and Bangladesh. However, it is a non-KYC exchange, meaning anyone can use it without verification.

Tapbit Bonuses and Special Offers

• Tapbit offers a 7-Day Limited Time Task as part of its welcome bonus for new users. Users can earn rewards up to 5,000 USDT for a 100,000 USDT transfer and a cumulative volume of 30,000,000 USDT.
• Tapbit gives Cashback on trading fees through loyalty-based rewards. Cashback is typically based on user VIP status.

Tapbit Background

Tapbit is a cryptocurrency exchange that was founded in 2021. Despite being relatively new, it has rapidly gained traction in the crypto industry, gathering $36.76B+ average daily trade volume. The only major leadership information is that the CEO and chairman are Lucas Galvão, who is a lawyer and experienced with startups.

Security and Transparency

Proof of Reserves

Tapbit employs a Proof of Reserves (PoR) system. It maintains a 2,341% ratio for Bitcoin and a 2,431% ratio for Ethereum. Hacken, a trusted blockchain security auditor, is the third-party firm handling this exchange’s PoR audit. However, Tapbit does not provide information about how regular the audits are.

Deposit Insurance

Tapbit does not offer explicit crypto deposit insurance, like FDIC-style coverage. However, it has a $40 million partnership with Amber to secure user funds, which is an advantage over exchanges like BYDFi. The platform also employs cybersecurity measures like Two-Factor Authentication (2FA) and Mobile Biometric Authentication (MBA), including fingerprint and facial recognition.

Bug Bounty Program/Proof of Organization

Tapbit does not have an active bug bounty program, which is a major downside for the crypto exchange. However, exchanges like Bitstamp, Gate.io, Bybit, and Binance offer this functionality.

The exchange holds the US MSB license, NFA license, and Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) license.

Corporate Communication Structure and Transparency

Tapbit maintains an open line of communication with its users via social media channels. The exchange has an active LinkedIn, X, Reddit, Facebook, Instagram, and Telegram account. There’s also email support and a dedicated FAQ section on its website. The clarity of its fee structure gives users confidence in the platform. However, I discovered that Tapbit had no detailed information about its founders and team members.

Verified Trusted Scores

Tapbit’s cybersecurity scores are lower than those of competitors like Coinbase, Upbit, Binance, and Bybit. It gained these scores because of a lack of transparency about its leadership, bug bounty, security audits, and operations.

Know Your Customer (KYC)

KYC verification is optional at Tapbit, which may appeal to users who prefer to keep their identities private. However, it’s important to note that using non-KYC exchanges can be riskier due to less regulatory oversight.

Is Tapbit Safe to Trade With?

Our research and analysis indicate that Tapbit provides moderate trust and stability. It features Proof of Reserves (audited by Hacken), fund protections, and is licensed by the US MSB, NFA, and SVGFSA.

However, it’s important to note that Tapbit lacks clarity on the frequency of its audits and has low third-party ratings (CoinGecko, CER.live). There is no bug bounty program or clear information about the founder/team.

Trading Experience

Trading Test

For our trading test, we thoroughly evaluated Tapbit. Our process included signing up, completing the KYC verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the Tapbit’s usability, features, and actual costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

I started by creating an account at Tapbit using my email address. You can also register with a phone number and set a strong password.

After signing up, I discovered that KYC is not mandatory, but it does increase your withdrawal limits. Without KYC, the daily limit is 10 BTC, while completing KYC (a smooth process that takes less than 5 minutes) raises the limit to 60 BTC.

I logged into my account. On a desktop, you can also log in using social accounts like Google or Apple or via a QR code scan.

I deposited 0.4988 LTC from my BYDFi account with no fees. The deposit required two confirmations and was reflected in about 6 minutes.

Step 2: Trading

I selected the LTC/USDT pair in the spot trading section. First, I converted LTC to USDT at market price, incurring a fee of 0.0614 USDT.

Next, I traded USDT back to LTC, setting a tight stop loss. The trade was executed within seconds, with a fee of 0.0612 USDT.

Step 3: Withdrawal and Review

To withdraw, I navigated to the profile section and selected “Withdraw.” Tapbit offers both on-chain and internal transfers. I chose an on-chain transfer to Binance and used their trusted address list.

The withdrawal of $61 worth of LTC required two confirmations and incurred a fee of 0.00013 LTC. The process was straightforward and comparable to other exchanges like Binance or Coinbase.

Desktop Version

Tapbit’s desktop platform offers a user-friendly experience with essential tools for beginners and advanced features like customizable layouts for experienced traders. It supports fast trade execution and derivatives trading, making it versatile. However, the lack of a basic version for beginners is a notable drawback.

Overall, the desktop version of Tapbit is quite responsive, and each section of the exchange, such as “Buy Crypto,” “Derivatives,” and “Markets,” is well arranged. A user can easily see and select any button. The trade navigation is also simplified. On the homepage, a user can select whether to engage in spot or derivatives trading.

Trade Navigation

Whether spot or derivatives, the trade environment is well arranged. Users can see where to select their trading pairs, use the TradingView integration, and access the order book.

However, I discovered that Tapbit doesn’t have a depth chart and no inbuilt technical indicators besides TradingView 107 indicators on the desktop. In my opinion, Tapbit conditional orders are very limited. There are no Iceberg orders, Settle positions, GTC (Good-till-Canceled), IOC (Immediate-or-Cancel), or GTD (Good-till-Date).

Withdrawal Navigation

Tapbit’s withdrawal process is straightforward: users choose the cryptocurrency they want to withdraw and enter the destination wallet address. Adding wallet addresses is easy with Tapbit’s white-listing feature.

Users simply navigate to the address book, enter the necessary information (network, address, and a name for the address), and save it. Additionally, Tapbit users can sell their cryptocurrency holdings using third-party services or peer-to-peer (P2P) trading options.

Search Button/Security Measures

The desktop version of Tapbit does not have search functionality.

Demo Trading

Tapbit has a demo trading environment for perpetual futures traders. In this simulation environment, users are given 10,000 USDT to practice their trading strategies. TradingView, order book, market analytics, and trading indicators are available in the demo section.

Trading Bots

Tapbit offers a trading bot for only perpetual contracts. Traders can either use the recommended bots or create one for themselves.

API Access

Tapbit features API access for both USDT perpetual and spot trading. The two offer Web Socket, which provides markets like general information, order book, and ticker. Unlike MEXC, Tapbit doesn’t have dedicated API technical support, REST Interface, or collaborative services. There’s no sandbox or backtesting environment.

Copy Trading

Tapbit’s copy trading feature enables users of all levels to replicate expert strategies through a user-friendly platform. Beginners can benefit from professional insights to diversify their portfolios and maximize returns, making it a great tool for guided market entry.

The platform prioritizes security with cold wallet storage and level 2 manual offline reviews, ensuring asset protection.

Mobile App

The Tapbit mobile app closely mirrors the desktop version, offering a similar interface. The main navigation includes sections for Home, Markets, Perpetual Futures, Spot, and Assets, all accessible via the bottom menu.

In my testing, the app was intuitive and performed smoothly, with no noticeable lags. A standout feature of the mobile app is its search functionality, allowing users to quickly find coins and tokens. However, unlike platforms like Binance, the search feature is limited and does not support finding other functionalities or features, which could be a drawback for some users.

• Trading Features: The trading interface is almost the same as the desktop version but a bit compressed. It has TradingView integration (with 8 built-in technical indicators), copy trading, and trading with bots functionalities. In the “Perpetual” section there’s an interface for futures trading.
• Watchlist: There’s also a watchlist feature, and users can make customized alerts for certain cryptocurrencies. Click on the star icon to create a list of your favorite coins. The list is available in the “Market” section.
• Wallet and Withdrawal: The wallet section is well arranged, and users can see their assets in Spot futures and Earn. Withdrawal takes about three steps: click on the asset, select withdraw, and fill in the details. If it is your first time, you will need to set up 2FA before withdrawing.
• Market Discovery: Tapbit’s market discovery section is quite basic. It only has favorites, with trading pairs for spot and perpetual trading. There’s no fear or greed index, trending cryptocurrencies, or top market gainers and losers.

My Key Takeaways After Testing Tapbit (Desktop and Mobile)

After testing the exchange, I found that Tapbit’s platform design is simple and user-friendly, making it well-suited for beginners and occasional traders. The interface doesn’t differentiate between a light and pro mode, and while the range of conditional orders and technical indicators is limited, it adequately meets the needs of non-professional traders.

Fees

Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. We focus on the essentials and potential savings through native tokens and various discount schemes. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels.

The first tier typically represents casual traders, as they don’t usually trade more than $10,000 per month, while the higher tiers often relate to more advanced traders. Using this method, we categorize users not only by their trading style but also by the amount of money they spend on the exchange.

Additionally, we compare these fees with industry standards to give a thorough perspective on each exchange’s affordability.

Tapbit’s spot trading fees are structured to be transparent and accessible for all users. Both maker and taker fees are set at 0.1%, regardless of the user’s trading volume or account tier. In my opinion, Tapbit has one of the lowest trading fees, but high-volume traders would want discounts based on trading volume.

Deposit Fees

Tapbit’s deposit fees vary depending on the method used. For fiat deposits via third-party payment providers like Mercuryo, Guardarian, and Volet, fees range from 1.0% to 3.95%. This is high compared to other deposit methods, such as ACH, used by exchanges like Bitstamp or Coinbase.

Tapbit does not support ACH, credit/debit cards, PayPal, or wire transfers for fiat deposits.

In my opinion, traders might consider other exchanges like Bitstamp, Bybit, or Coinbase for better deposit options. For example, depositing $1,000 through Mercuryo can incur a fee as high as $39.50. The same transaction at Coinbase with the free ACH deposit will give a trader the same $1,000.

Withdrawal Fees

Tapbit charges withdrawal fees for fiat via third-party providers. Crypto withdrawals, however, are free, but fees vary based on the blockchain network’s congestion.

These fees are typical for the industry, with third-party fees being higher than standard bank transfers. The lack of ACH or wire transfer options may limit some users, making exchanges like Kraken, Binance, or Coinbase preferable.

Leverage and Futures Trading Fee Rate

Like the spot trading fees, Tapbit has a flat trading fee of 0.02%/0.06% maker/taker fees for futures traders. Compared to Binance’s 0.0200%/0.0500%, it is slightly higher. High-volume traders can reduce fees by joining their VIP program. My opinion is that Tapbit’s fees are competitive, but exchanges like Binance have better models for discounts.

Note: Please remember that fees and available methods may vary by country.

Fee Discounts

Tapbit offers minimal fee discounts. VIP traders may receive fee discounts, up to 50% of the deposit ratio.

Are Tapbit’s Fees Competitive?

After my testing, here’s what you should know about Tapbit’s fees:

• Spot Trading Fees: Tapbit charges a flat 0.1% maker and taker fee for spot trading, which is quite competitive.
• Perpetual Contracts: Tapbit’s leverage and futures trading fee rate is a flat 0.02%/0.06% maker/taker fee.
• Non-Trading Fees: Fiat deposits via third-party providers like Mercuryo, Guardadrian, and Volet have fees between 1.0% and 3.95%. Withdrawal fees for crypto vary and can range from 0.1 to 10 USDT depending on the network.

While trading fees are low and competitive, the higher fiat deposit fees through third-party providers may discourage users from making large fiat-to-crypto transactions.

Available Cryptocurrencies

• Major Coins: BTC, ETH, BNB, LTC, SOL, etc.
• Niche Coins: BRC-20, GameFi, NFT, AI, Metaverse, DeFi, and Layer1/Layer2, etc.
• Meme Coins: Dogecoin, PEPE, PEW, Catizen, etc.

Token Listing

Tapbit’s team reviews token listing applications and notifies developers of the outcome. The listing process requires details such as the project name, smart contract, team information, and partnerships.

Access to Stablecoins and Fiat-to-Crypto Trading

Tapbit allows trading with stablecoins:

• USDT
• USDC
• DAI

However, it doesn’t support fiat-to-crypto trading or BTC-to-crypto trading.

Exchange Liquidity

Tapbit executes trades within seconds because of its super-competitive exchange liquidity. With a rating of 883 (14-12-2024), it surpasses top exchanges like Binance, Bybit, Coinbase, OKX, and Bitget.

Deposits and Withdrawals

Tapbit Deposit Options

Tapbit offers limited payment options for fiat deposits, primarily through third-party payment methods like Mercuryo, with fees ranging from 1.0% to 3.95%. In my testing, direct bank transfers (ACH, wire, SEPA) were not supported, making it less convenient compared to platforms like Binance or Coinbase, which offer low-fee bank transfers.

The minimum buy option at Tapbit is $30. For cryptocurrencies, it is <$1.

Mercuryo and Volet are available for fiat one-click buys, but they have high fees. Tapbit’s payment methods are less competitive in terms of fees and convenience.

P2P Trading

Tapbit features its own P2P platform. However, during a week-long test while based in the Netherlands, I found no active merchants throughout my monitoring period. It’s possible that more merchants may be available in other countries.

Note that deposit options can vary significantly from region to region. Always check the exchange’s official site for the most accurate and region-specific deposit information.

Tapbit Withdrawal Methods

Tapbit withdrawal (crypto selling) is similar to the deposit methods. Only one third-party payment provider, Mercuryo, is supported. Coinbase, MEXC, and Luno have better withdrawal options.

Tapbit Daily Withdrawal Limits

Tapbit offers daily withdrawal limits for both crypto and fiat. These crypto withdrawal limits are quite high compared to competitors like Bybit, which are limited to 4 million USDT for normal users.

Customer Service

Tapbit does not provide comprehensive learning materials such as tutorials or guides, nor does it feature a community forum for users. As for high-volume traders or VIP accounts, Tapbit says they offer 1 to 1 special support for these users.

Tapbit’s customer support falls short of exchanges like Binance, Coinbase, or Kraken. These competitors offer more support options, including detailed help centers, community forums, phone support, and VIP services.

Tapbit Customer Support Test

I tested Tapbit’s live chat and email support. The chatbot was fast but lacked clarity from live agents. For example, when I asked about a native DCA automation tool, the agent didn’t seem to know what DCA meant.

Their email service was decent, with a real response received in less than 5 hours – much faster than BYDFi’s 24+ hour response time. The response was professional, but it didn’t address the query thoroughly. Also, the lack of proactive follow-up or detailed troubleshooting suggests room for improvement in providing a more comprehensive customer experience.

FAQ