Brief information Milbit
The Milbit cryptocurrency exchange positions itself as a service for buying, selling, exchanging, and storing digital assets. It states that it was founded in Europe and began operations on January 16, 2022. According to the website, the exchange’s metrics include:
more than 150 digital assets;
over 200 trading pairs;
support for more than three national currencies;
a daily trading volume of over $2.5 million.
However, the homepage lists different figures: more than 700 cryptocurrencies, approximately 1.5 million users, and a daily trading volume of $22.51 million.
Adrian Colewyn is listed as the owner of Milbit and the person responsible for the project’s strategy. The team also includes specialists responsible for platform management, communications, security, and blockchain integration.
The contact address listed is Dubai International Financial Centre, Dubai, UAE, and the company can be reached by phone at +44 7496 557876 or by email. The website also states that the company holds license No. ARBN 627 013 585 and is regulated by the Securities and Futures Commission of Hong Kong.
Cryptocurrency selection on Milbit
The crypto exchange offers BTC, ETH, DOGE, SHIB, BNB, SOL, XRP, TON, TRX, and other digital assets for trading. Most trading pairs are paired with USDT. In the Markets section, users can view asset prices and daily price changes, and proceed to place trades.
The website states that the platform can be accessed via a web interface, iOS and Android devices, and through an API.
Services and fees of Milbit
Milbit’s core business is spot trading. Clients are also offered fast cryptocurrency exchanges via Swap, the purchase of assets with fiat currency, and participation in trading tournaments.
The list of additional services includes:
staking;
cryptocurrency lending;
trading bots;
token listings;
bank transfers;
margin trading;
perpetual futures;
services for corporate clients.
The standard trading commission is 0.1%. For some pairs, the rate may vary, but according to the exchange’s data, it does not exceed this value. The daily fee for using borrowed funds in margin trading and lending is 0.078%. Trading via Swap is advertised as having no separate trading commission and no slippage.
Creating a personal account and verification on milbit.net
To create an account, you must provide an email address and create a password. Verification may require identification, personal information, and additional documents. Verification of incoming and outgoing transactions may take up to 24 hours.
Deposits and withdrawals with Milbit
The balance can be topped up using digital assets, bank transfer, or a bank card. The website also lists fiat gateways for U.S. dollars and euros, as well as the option to withdraw these currencies to Visa and Mastercard cards.
The minimum deposit amount depends on the selected currency. The transaction fee is also determined by the asset. The withdrawal fee depends on blockchain congestion and the value of the selected cryptocurrency. It is subject to change without prior notice, so you should check the exact fee amount when submitting your request.
Conclusion about Milbit
The reliability of the Milbit platform remains in question. The website lacks information about the legal entity and documents confirming the claimed license. The exchange’s jurisdiction is unclear, and the terms and conditions for withdrawing funds are not fully disclosed. Before depositing funds, it’s a good idea to read reviews about Milbit and check its payment procedures.
