Tapbit review
Tapbit is a small centralized exchange offering spot trading, futures with leverage reportedly up to 150x, and P2P trading. It advertises a US Money Services Business registration, an "NFA general financial license," and a crypto/forex license from the St. Vincent & Grenadines Financial Services Authority, but these claims are disputed: independent monitor WikiBit rates Tapbit as having no verified regulatory license, assigns it a 0.00/10 risk score, and flags two active risk alerts. Third-party review aggregator TradersUnion separately scores it 3.26/10, citing limited operating history and unclear regulatory standing. Reported figures for its coin count (roughly 210 to 400+) and insurance-fund size ($40M-$50M) vary between review outlets, which itself signals thin, largely self-reported and promotional sourcing rather than independently audited disclosure. Its official site could not be reached directly during this review; all information here comes from third-party review sites and aggregator listings.
Tapbit key facts
- Website: www.tapbit.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2022 (reported)
- Headquarters: Disputed: claimed US entity (Tapbit LLC) alongside a St. Vincent & Grenadines licence claim; likely offshore
- Regulatory status: Claims MSB, NFA and SVGFSA licensing; independent monitor WikiBit rates it as having no verified regulatory license
- Products: Spot trading, futures (leverage reportedly up to 150x), P2P trading
- Trading fees: Spot: flat 0.1% maker/taker; futures: about 0.02% maker / 0.06% taker; flat (non-tiered) fee structure
- Supported assets: Reported coin counts vary by source, roughly 210 to 400+ cryptocurrencies
- Independent risk scoring: WikiBit: 0.00/10 with two active risk alerts; TradersUnion: 3.26/10, rated higher-than-average risk
- FYI Score: 79.6/100 (ranked #22 of the 48 crypto exchanges we track)
Trading fees
- Spot trading: flat 0.1% maker/taker
- Futures: about 0.02% maker / 0.06% taker
- Flat fee structure, unlike the volume-based tiered fees common at larger exchanges
- Non-trading fees (withdrawals, etc.) reported as higher than average versus peers
Supported assets & products
- Spot trading, P2P trading, and futures with leverage reportedly up to 150x
- Reported coin counts are inconsistent across review sites, ranging from roughly 210 to 400+ cryptocurrencies
- 24-hour spot volume shown on CoinMarketCap (over $1B) is notably high relative to Tapbit's low independent trust ratings, a mismatch worth treating with caution when using its volume as a liquidity signal
Security & regulation
- Advertises a US Money Services Business registration, an "NFA general financial license," and a crypto/forex license from the St. Vincent & Grenadines FSA
- WikiBit, a third-party regulatory monitor, disputes these claims, listing Tapbit as having no verified regulatory license and assigning it two active risk alerts (one high-risk, one medium-risk)
- Advertises banking-grade SSL encryption, multi-signature wallets, and hot/cold wallet segregation, though without third-party custody or published proof-of-reserves verification
- Reported insurance-fund figures differ by source ($40M per WikiBit, $50M per other aggregators), another sign of inconsistent, largely self-reported disclosure
Markets
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Who Tapbit is for
Tapbit's low fees and lack of mandatory KYC may appeal to traders seeking quick, low-friction futures access, but the gap between its own regulatory claims and independent risk ratings, plus reported liquidity and interface complaints, are material considerations before depositing funds.
Pros
- Low, flat spot and futures fees relative to some competitors
- No mandatory KYC for basic access, per third-party reviews
- Offers P2P trading alongside spot and futures in one account
Cons
- Independent monitor WikiBit rates Tapbit as unregulated despite the exchange's own licensing claims, and flags two active risk alerts
- TradersUnion separately scores it 3.26/10, citing limited operating history and unclear regulatory standing
- Coin-count and insurance-fund figures are inconsistent across review sources, suggesting thin and largely promotional disclosure rather than audited data
- User complaints cited by WikiBit describe a cluttered, difficult-to-use interface and poor liquidity on some pairs
- Official site was unreachable for direct verification during this review; all facts here are drawn from third-party sources
Tapbit FAQ
Is Tapbit regulated?
Tapbit advertises a US MSB registration, an "NFA general financial license," and a license from the St. Vincent & Grenadines Financial Services Authority. Independent monitor WikiBit disputes this, listing Tapbit as having no verified regulatory license and flagging two active risk alerts. Treat Tapbit's own licensing claims with caution.
What are Tapbit's trading fees?
Spot trading uses a flat 0.1% maker/taker fee, and futures run about 0.02% maker / 0.06% taker. Unlike many larger exchanges, Tapbit uses a flat, non-tiered fee schedule; non-trading fees such as withdrawals are reported as above average.
How many coins does Tapbit support?
Reported figures vary by source, from roughly 210 to over 400 cryptocurrencies. This inconsistency across review outlets is itself a sign that Tapbit's asset listings are not consistently or independently documented.
Is Tapbit safe to use?
This is genuinely unclear. Tapbit advertises standard security measures (SSL, multi-sig, hot/cold wallet separation) but does not appear to publish independently verified proof-of-reserves, and WikiBit's monitor gives it a 0.00/10 risk score with active risk alerts. Reported insurance-fund figures also vary by source ($40M-$50M), which is not typical of exchanges with fully audited reserves.
Compare Tapbit with other crypto exchanges
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