MoonXBT Review 2023
MoonXBT Review Summary
MoonXBT is a trading platform that aims to take your investment to the moon with the innovative means of social trading. MoonXBT is based in the Cayman Islands and has offices throughout East Asia and other parts of the world. The MoonXBT team includes experts in secure trading systems and overseas marketing experts. It provides investment products like spot trading, futures, warrant options, copytrading, advanced features, and more. All supported by above average liquidity. In comparison to other trading exchanges, MoonXBT has a variety of features and has provided users with several benefits since its inception in 2021.
Experienced traders can use up to 150 times leverage with MoonXBT’s liquid contracts.
New traders who want to try their hand at copy trading can expect a fun and relaxing experience with MoonXBT. The trading platform also has an affiliate program that allows affiliates to earn up to 50% commission, and general users can earn up to 30% in rebates.
- Web Address: moonxbt.com/
- Fiat Currencies: USD, CAD, IDR, AUD, VND and KRW
- Cryptocurrencies: BTC, ETH, LTC, XRP, EOS, TRX, ADA, BCH, ETC, LINK, SXP, UNI, AAVE, DOGE, FIL, DOT
- Mobile app: Yes
- Trading Fees: 0.05%
- Fiat Deposit Fees: Not available
- Crypto Deposit Fees: 0%
- Crypto Withdrawal Fees: $1
- Fiat Withdrawal Fees: Not available
- Deposit Methods: Cryptocurrency
- MoonXBT Security: The MoonXBT team collaborates with FireBlocks to keep your digital assets secure. Investors who focus on trading are assured of a comprehensive security protocol that ensures their safety. MoonXBT also works with Certik for code audit to ensure the seamless functionality. MoonXBT anchors the best spot market price in real-time, based on spot prices on several leading crypto exchanges worldwide, to reduce the possibility of malicious contract market manipulation.
MoonXBT History Overview
MoonXBT is a Seychelles-registered cryptocurrency derivatives exchange. It has been in operation since 2021, making it a relatively new addition to the crypto exchange world.
A derivative is a financial instrument whose price is determined by the value of another asset (normally stocks, bonds, commodities etc). Derivatives in the cryptocurrency world derive their values from the prices of specific cryptocurrencies. You can trade derivatives linked to a number of the most important cryptos here.
MoonXBT has a number of distinguishing features that set it apart from the competition. One of the most important aspects of the service has been its social component, which includes features such as copy trading, trading battles, forums, and an inclusive community.
MoonXBT has separate ask and bid lines, and the global spot market’s weighted value is anchored in real time.
Furthermore, traders can relax and enjoy the various products available at MoonXBT with the knowledge that their money is secure, as this platform is supported by FireBlocks and Certik to keep your assets secure. Behind that is a first-rate team of knowledgeable employees who provide 24-hour customer service. New users will receive special benefits, while long-term players will be able to participate in the affiliate program by using the platform’s native MoonPoint Tokens.
MoonXBT Cryptocurrency selection
MoonXBT supports more than 30 different cryptocurrencies that can be traded with a leverage of up to 100x for altcoins and as high as 150x for Bitcoin. The options trading platform allows customers to enter positions with as little as 1 USDT, which underscores MoonXBT’s goal of providing access to trading services to as wide of an investor audience as possible.
MoonXBT Supported Countries
MoonXBT, headquartered in the Cayman Islands, has recently expanded its international reach, now serving over 60 countries worldwide. The project has offices in Indonesia, Malaysia, India, Latin America, Russia, Turkey, Japan, and Vietnam, where it is currently the third largest cryptocurrency trading platform.
MoonXBT Payment Methods
Navigate to the ‘Asset’ tab and press the ‘Deposit’ button. Choose the cryptocurrency that you want to deposit. Users can exchange BTC and ETH for USDT, with a minimum BTC deposit of 0.001BTC. Users can also buy or sell cryptos with fiat money or vice versa using Xanpool which is integrated into the MoonXBT platform.
Key Features of MoonXBT
MoonXBT Liquid Contracts
Liquid Contracts are one of MoonXBT’s flagship products. Users can use a margin of up to 5000 USDT and trade with up to 150 times leverage here.
Liquid contracts, in short, allow traders to trade on an open order book without having to wait for other people’s orders to be filled. The filled order will then be submitted to the highly volatile market.
Following that, either party will close out these contracts before they expire, increasing the liquidity and stability of the moving markets. Furthermore, the platform provides ample liquidity for spot trading to ensure good trading depth.
MoonXBT Social Trading
MoonXBT makes full use of the community trading potential. In fact, it promotes a wide range of social trading functions, such as its ‘Copy Trading’ feature, which allows traders to “copy” other users’ trading actions, i.e., have their orders automatically executed based on the trader’s strategy whom they follow. This saves time and may result in better trading results for copiers. Furthermore, traders who are copied by others can share a 10% profit from the earnings generated by their copiers.
Meanwhile, MoonXBT also has a highly competitive rewards program and various promotions, such as trading battles and trading forums, that make its social trading experience appealing to many.
MoonXBT Trading Battle
Users can take part in the Trading Battle promotion, which pits traders against one another and gives top users a share of a community-funded crypto prize pool. Individual Battles can be created by users with more than 10,000 MoonXBT Points or who have more than ten subscribers, and feature-rich prize pools. It costs 5 USDT to create a Trading Battle, but keep in mind that the creator is eligible for 5% of the total prize pool. The distribution of rewards is straightforward – the higher the profit, the higher the ranking.
MoonXBT Community Forum
With a focus on community, the MoonXBT team has been able to expand its ever-growing user base. A large part of that is user communication, which is accessible via various features on the site, most notably the community forum. The community forums have become a hotbed of trading information and trader talk for both novice and experienced traders.
MoonXBT Affiliate Program
MoonXBT also has a referral program. You can earn up to 50% commissions on MoonXBT’s trading fees generated by your referrals’ contracts trading through this program. In comparison to industry standards, 50% is a competitive level. Please keep in mind that you must apply to be a part of the affiliate program, and that the standard invitation program only provides you with 30%.
MoonXBT Moonpoint (MP)
MoonXBT has a loyalty program that gives away rich rewards for high-volume traders and newcomers as well. For example, a user can earn 50 MPs for registering and another 100 MPs after completing the KYC verification. Connecting one’s contact details will equal 100 more MPs. Basically, every task has corresponding moon points attached to it.
MoonXBT User Friendliness
Investors can dive into MoonXBT trading at a super reasonable entry price. It costs 1 USDT to open a position, cheaper than other options trading platforms, and with MoonXBT’s easy-to-use interface, anyone in the crypto community can use its platform to trade and earn rewards.
MoonXBT Trading Fee Overview
Here is a breakdown of the MoonXBT fee structure:
MoonXBT charges two types of trading fees: the fee for opening and closing a position and the so-called Overnight financing fee, which is incurred on open positions every day at 0:00 UTC. Based on the following formulas, the base trading fee of 0.05 percent rises in proportion to leverage and margin levels:
- Trading Fee (Open/Close a position) = Margin * leverage * 0.05%
- Overnight Financing = Margin * leverage * 0.05%
MoonXBT charges fixed fees on USDT withdrawals in addition to the trading fees described above. USDT withdrawals through the OMNI and ERC20 networks cost 28 USDT and 20 USDT, respectively, whereas TRC20-based USDT withdrawals cost only 1 USDT.
The minimum withdrawal amount is 10 USDT, with a maximum withdrawal amount of 30,000 USDT. The majority of withdrawals are processed in minutes, but withdrawals of more than 2,000 USDT may take up to one working day.
While you can deposit Bitcoin, Ethereum, and USDT into your MoonXBT account, keep in mind that the deposits are automatically converted to USDT.
MoonXBT Deposit Fees
If you are depositing cryptocurrency into MoonXBT, there are zero fees beyond the regular cryptocurrency network transaction fees.
MoonXBT Withdrawal Fees
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
- USDT (TRC20): 1 USDT
MoonXBT Security Features
MoonXBT keeps its traders’ digital assets highly secure in partnership with asset custodian Fireblocks and security audit company Certik.
On top of this, MoonXBT uses two-factor authentication in each transaction to add an extra layer of security. At the end of the day, the platform aims to protect the funds of its users with some of the most advanced security measures.
If this was not enough, the company is offering a Demo Trading Mode that makes it possible to users to securely trade with bonus money so they could test their strategies and get used to the platform.
MoonXBT Customer Service
MoonXBT has well-informed staff members that offer 24/7 reliable customer support. They answer questions on social media and provide information about the platform’s events, services, products, fees, and promos, in addition to the live chat function that is accessible directly through the platform.
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