Frequently Asked Questions
About Us
What is EasyBit?
EasyBit is a non-custodial cryptocurrency exchange service that currently offers the lowest fees and the best rates on the market. The last results in our service climbing to the first place in rate comparisons, with a massive prevailing over the competition in receiving amounts, for the vast majority of supported pairs.

Other than the latest, our customers enjoy very fast exchanges with an average processing time of 12’ per transaction and a Volatility Protection Mode to keep their assets safe in extreme market fluctuation along with many other helpful features. All exchanges are processed through our user-friendly and ultra-secure environment, the EasyBit platform.

If you have any further questions about our service, feel free to contact Support.
What team is behind the scenes?
EasyBit team is composed of blockchain experts, web developers, marketing experts, serial entrepreneurs, and graphic designers.

We all share the same mindset and stay consistent with our goal, to bring value to the crypto community by creating an innovative platform with absolute respect to the fundamentals of the cryptocurrency space and that is why we utilize a privacy-oriented approach for our clients. We made our service easy to use for everyone, with the hope of contributing to the mainstream adoption of cryptocurrencies.

Being crypto enthusiasts, we believe not only that cryptocurrency is the finance of the future but also that its underlying blockchain technology will have a positive impact on people’s lives by solving many problems and disrupting limitations in many functional aspects of the current society.

If you have any further questions about Team EasyBit, feel free to contact Support.
Why trust EasyBit?
Our vision is to bring value to the crypto community by providing solutions relating to cryptocurrency exchange with absolute transparency, privacy, and security.

We have a motto, "Security first and then the rest!". This was the foundation after which we built everything. Our dev team is composed of experienced developers, who run penetration tests and plug every possible leak in all aspects of our platform. Also, our service is non-custodial, which means that no user funds are stored, contributing to the prevention of any type of fraudulent activity from occurring. In addition, we use multi-layer protection and encryption systems along with cutting edge technologies to ensure the safety of your funds in every exchange.

Finally, we utilize a privacy-oriented approach, with absolute respect to the fundamentals of the cryptocurrency space, and for that reason, we do not require your personal details so that you never have to worry about sensitive information leakage.

Because of the above, and the hard work we put on every day to make them happen, we are proud to state that our platform is one of the most reliable and secure environments out there!

If you have any further questions about your security on our platform, feel free to contact Support.
Transactions
How to perform an exchange (Step by Step tutorial).
The exchange process on our platform is one of the simplest out there! Even if this is your first time in a crypto exchange service, you may easily perform your first exchange by following the steps below:

  • In the exchange form, select from the coin list the coins you wish to exchange Send-Receive.
  • Enter the amount you wish to exchange and hit the Exchange Button, double-check your entries and your exchange information. If everything looks as it was supposed to you may proceed as follows.
  • Enable VPM if you wish to protect yourself from negative volatility during transactions, specify a percentage and if the rates drop below it you will be refunded.
  • Enter the recipient address, in which you will receive your exchanged funds and the refund address for the coin you deposited (if you enabled VPM).
  • Once you have done the above, you may hit the exchange button to proceed.
  • Congratulations, you have successfully placed your order!
  • In the “awaiting deposit” step we will provide you with a deposit wallet address. Send the exact amount you indicated in the previous step to the displayed address within 90 minutes.
  • Nothing else is required from your part, we handle everything from now on. Once your deposit is confirmed, we will process the order at the best rates on the market! In a few minutes, you will receive your exchanged funds in your wallet.

Now that you learned everything you need to know go ahead and apply it! Exchange

If you have any further questions about how to perform exchanges, feel free to contact Support.
Is registration required to perform exchanges?
We stay consistent with our goal, to bring value to the crypto community by creating an innovative platform with absolute respect to the fundamentals of the cryptocurrency space and that is why we utilize a privacy-oriented approach for our clients.

The above means that EasyBit does not require your personal information to perform exchanges. You can create an account (simply by providing an email address) or perform an exchange as a guest, it’s up to you!

If you have any further questions about your privacy, feel free to contact Support.
What is Volatility Protection Mode (VPM)?
Given the volatile nature of cryptocurrencies, rate is subject to change during the exchange procedure. Rate drops during the average processing time can get very significant in an aggressive market collapse, resulting in a tremendous decrease in the final receiving amount.

Our team developed a Volatility Protection Mode, which makes you immune to negative volatility! If during the transaction, rates drop more than the percentage you indicated, VPM will automatically trigger, abort the exchange, and refund you protecting your assets.

Guard yourself against short-term potential losses, due to volatility, with VPM!

If you have any further questions about VPM, feel free to contact Support.
Why is a Coin/Token suspended?
Coin status expresses the availability of all cryptocurrencies supported on our platform. Suspended are the coins/tokens that are currently unavailable for a certain or all actions (send-receive). This is usually caused by one of the following reasons:

  • Because the coin/token is currently in maintenance.
  • The coin/token is not supported on our platform for a certain or all actions at this period of time.
  • For any other reason.

If you have any questions on why a coin is currently suspended, feel free to contact Support.
What is the exchange rate?
The exchange rate is expressed as the number of units of one currency required in order to be exchanged for a unit of another currency. In simple words, the exchange rate is the price of one currency in terms of another.

Given the volatile nature of cryptocurrencies, the rate is subject to change during the exchange procedure. This means that the final receiving amount might be different from the one displayed when placing your order. That difference may be either on the positive or on the negative side, and this is something that is not controlled or defined by EasyBit but rather on the market movements. We make sure to find the most profitable exchange path by picking the best available rate there is at any given time.

Furthermore, we have developed a Volatility Protection Mode which you can enable when placing your order. If during the procedure the rates drop more than the percentage indicated, the exchange will be canceled and you will be refunded.

For more information about VPM please refer here.

If you have any further questions about the exchange rate, feel free to contact Support.
What is the exchange fee?
The exchange fee is our service's commission for performing a transaction and it ranges from 0.1% to 0.2% based on your account level.

In EasyBit not only we offer the lowest exchange fee out there (even on guest exchanges) but you also get rewarded with a volume-oriented fee structure to take it as low as 0.1%!

Create an account, simply by providing an email, and you will be instantly upgraded to level 1 corresponding to a 0.19% exchange fee. Upgrading to even higher levels is associated with your volume per month.

For more details on how the account level system works, the associated fees, and the volume requirements, please refer to the fee structure table, on the fees page.

If you have any further questions about the exchange fee, feel free to contact Support.
What is the network fee?
Each time a cryptocurrency is transferred through a blockchain, a small commission is extracted in order for the transaction to be included in a block. This commission, that blockchains keep, to process each transfer, is the network fee.

Every currency has a different network fee, and it depends on the network capabilities and blockchain congestion.

In the "You Receive" amount displayed on our exchange form, all applicable fees, including the network fee, are already calculated and hence the amount shown as receiving is the most precise estimation.

If you have any further questions about the network fee, feel free to contact Support.
When will I receive my funds?
On EasyBit the average processing time per transaction is about 12’, and usually ranges from 5’ to 30’. While this is an average based on our statistics, the exact time needed is associated with many factors for example the selected pair.

There are rare occasions that a transaction may take longer than estimated and this is caused by various reasons that EasyBit can not control. For instance, when a blockchain is congested (overloaded) usually results in delays as many transactions are waiting to be included. Another example could be unscheduled maintenance for a certain coin, etc.

A usual factor affecting the time per transaction is setting a lower than the recommended network fee when sending funds. In such a case, your funds arrive with a delay so if you wish your transaction to be processed soon please make sure to set the recommended network fees.

If you have any further questions about the processing time of your transaction, feel free to contact Support.
How do I cancel my order?
There are three basic scenarios as shown below:

  • If you haven’t yet made your deposit, you may simply not proceed with it and your order will fail after 90’. Therefore canceling your order is not necessary.
  • If you just made your deposit and it is not confirmed yet, you may contact support directly and possibly we will be able to cancel it manually. In such a case you will provide us with a refund address and we will refund you the amount when your deposit is confirmed. Please keep in mind that in the last scenario the blockchain will extract a network fee and hence your refund amount will be the amount you deposited minus the network fee.
  • If your deposit is confirmed, your order cannot be canceled and it will be processed automatically. Once a transaction is made (the funds are sent to a particular wallet address), it cannot be rolled back. For that reason we strongly recommend, double-checking all details carefully before proceeding with a transaction.

If you have any further questions on if and how you can cancel your order, feel free to contact Support.
Service Usage
Is my email required?
It is not obligatory to provide your email address since you can always perform exchanges as a guest.

However, your email address is required when creating an account that can be easily done in just a few seconds in order to gain access to all features as well as get discounts and rewards. EasyBit respects your privacy so nothing else is required!

If you have any further questions, feel free to keep exploring FAQ or contact Support.
Why should I create an account?
While not an obligation (because you can simply perform exchanges as a guest) creating an account in EasyBit has many advantages since you unlock and gain access to all features as well as get discounts and rewards.

The account creation process lasts just a few seconds since all you have to do is provide an email address or alternatively, you may sign up with your google or twitter account.

The major reasons why it is beneficial to create an account are shown below:

  • Your exchange fee is instantly reduced since simply by creating an account you qualify for level 1 in our fee structure.
  • Your exchange volume will be updated across your orders and calculated per month. Because account levels and fee structure are volume-oriented, you will be able to upgrade to higher levels and lower your exchange fee. For more information about the fee structure please refer to the fees page.
  • We will be able to contact you if we suspect that you accidentally did something wrong when placing your order, or if any order issue comes up, and this will result in a more efficient and faster resolution.
  • You will gain access to our Dashboard in which you can have a complete and analytical report of your past orders in the order history section, keep track of your volume progress with graphs, relevant tables, and much more.
  • You will receive your own unique affiliate link with which you can start earning from every exchange made by affiliate users, by taking advantage of our revenue share business model. Simply place your link on your social account, website, or wherever your audience may find it.

Create an account in seconds! Sign up

If you have any further questions on why you should create an account, feel free to contact Support.
How do I create an account?
You can easily create an account in just a few seconds and gain access to all features as well as get discounts and rewards! All you have to do is provide an email address or alternatively sign up with your google or twitter account. EasyBit respects your privacy so nothing else is required!

Join us and experience our services in their full capacity. Sign Up

If you have any further questions regarding account creation, feel free to contact Support.
What causes an Action Request?
We strive to promote security for our clients and protect them from any fraudulent activity. In this direction, we have developed two main procedures that can lead to an Action Request.


Action Requests are usually caused because of surpassing the applicable Dynamic Exchange Limits which depend on the type of account (Guest, Member Account, Validated Member Account), and the Risk-Based Approach. It is also possible for an Action Request to be applied directly if a transaction has a very high “Risk Score” in our Risk-Based Approach, and regardless of the Dynamic Exchange Limits.

When an Action Request is applied, the user will have to create an account (if he/she is a Guest) and validate it to proceed with the exchange. The whole process is very easy and is usually completed in just a few minutes!

After the Action Request is successfully resolved, the exchange is automatically processed, the Dynamic Exchange Limits are increased to maximum, and the user gets rewarded with level upgrades!

If you have any further questions about Action Request, feel free to contact Support.
Dynamic Exchange Limits
The Dynamic Exchange Limits are referring to the maximum volume permitted to be exchanged per type of account, and are affected by two different factors: the type of account and the Risk Score as defined by the Risk-Based Approach.

In EasyBit there are three main types of accounts which affect the applicable Dynamic Exchange Limits:

  • Guest
    For Guests the lower exchange limits are applicable.

  • Member Account
    In Member Accounts, the accumulated volume is recorded and the exchange limits are increased compared to Guests.

  • Validated Member Account
    In Validated Member Accounts, the accumulated volume is recorded and the exchange limits are increased to the maximum.

Although the applicable Dynamic Exchange Limits depend on the type of account, they are also affected by the Risk-Based Approach. Accordingly, the Dynamic Exchange Limit is affected by the Risk Score of the transaction in a way that the two amounts are inversely proportional, meaning that the higher the Risk Score, the lower the Dynamic Exchange Limit. Therefore, there is not one specific limit applicable and each case is calculated separately by our system.

When the applicable Dynamic Exchange Limits are surpassed, an Action Request will be triggered and the user will have to create an account (if he/she is a Guest) and validate it to proceed with the exchange. The whole process is very easy and is usually completed in just a few minutes! After the Action Request is successfully resolved, the exchange is automatically processed, the Dynamic Exchange Limits are increased to maximum, and the user gets rewarded with level upgrades!

If you have any further questions about Dynamic Exchange Limits, feel free to contact Support.
Risk-Based Approach
We strive to promote security for our clients and protect them from any fraudulent activity. In this regard, our team has developed an internal procedure backed up by an automated Risk-Based Approach.

Our system is making multiple checks in a variety of criteria and calculates the Risk Score of each transaction, and is proved to be very effective in identifying suspicious transactions and user activity.

The Risk Score affects the applicable Dynamic Exchange Limits in a way that the two amounts are inversely proportional, meaning that the higher the Risk Score, the lower the Dynamic Exchange Limit.

If in any transaction, the Dynamic Exchange Limits are surpassed, an Action Request will be triggered. It is also possible for an Action Request to be applied directly if a transaction has a very high Risk Score, and regardless of the Dynamic Exchange Limits.

When an Action Request is triggered, the user will have to create an account (if he/she is a Guest) and validate it to proceed with the exchange. The whole process is very easy and is usually completed in just a few minutes!

After the Action Request is successfully resolved, the exchange is automatically processed, the Dynamic Exchange Limits are increased to maximum, and the user gets rewarded with level upgrades!

For more information on the Risk-Based Approach, please refer to our AIA Policy. If you have any further questions feel free to contact Support.
How account levels and fee structure work?
After the creation of your account on EasyBit, your exchange volume is recorded across your orders and calculated per month. Account levels and the corresponding fee are volume-oriented, which means that you are upgraded to higher levels and lower your exchange fee by reaching specific volume requirements each month.

A more specific explanation on how account levels and the fee structure are calculated may be found on our fees page.
Troubleshooting
How can I track my order?
If you were performing your exchange while being logged in to your account, you can simply access it through the Track Order feature on the lower-left corner, or through your order history in the Dashboard.

If you were performing an exchange as a Guest, you can simply use the Track Order feature on the lower-left corner.

If you were performing an exchange as a guest, and it is not displayed in the Track Order feature, and you do not know your Order ID, feel free to contact Support.
Transaction issue
If you are facing any kind of issue with your order, feel free to submit a ticket by contacting Support. Our team is composed of experienced developers and blockchain experts dedicated to solving anything and assisting you with any type of issue.

The vast majority of order issues are resolved within an hour, so you don’t have to worry, simply contact Support.
Why did my order fail?
An order failure (order status: “Failed”) is usually caused by one of the following reasons:

  • You didn’t make your deposit within 90’.
  • You made your deposit on time, but it failed to confirm within 90’.
  • You did not deposit the exact amount you indicated when placing your order. Learn More
  • For any other reason.

If you have any further questions about why your order failed, feel free to contact Support.
I deposited a different amount.
For security purposes, our system does not process orders when the deposited amount is different from the one indicated. The above is because we can not be positive that this action was an intended one.

We only process orders with different amounts when the difference is minor, for instance, an unexpected network fee extraction from the indicated amount.

When a different amount than what indicated is deposited, the order will fail automatically (order status: “Failed”). In that scenario, please contact Support to specify how you wish to proceed. You can either assure that this was an intended action in which case your order will be processed, or request a refund.
Security limitation when placing an order.
For security purposes, we do not process two identical orders simultaneously. We can only accept one order at a time for the same amount and the same coins. This amount and coins will be available again when the previous one is confirmed.

Such a limitation can be easily bypassed by entering a slightly lower or higher amount. For example: If you have already placed an order for 0.45 BTC to ETH, you will get an error if you try to place another one with the same coins-amounts ( 0.45 BTC to ETH ), so you may enter 0.449 or 0.451 BTC and proceed with that exchange with no problem.

If you still need to exchange exactly 0.45 BTC you will have to wait until the previous identical order is confirmed.

If you have any further questions about the security limitation, feel free to contact Support.
How much is the waiting time for support?
EasyBit Support Team is available 24/7, and is fully dedicated to responding and resolving any type of issue within one hour!

There are scenarios of increased response time, above one hour, which usually occur because of one of the following reasons.

  • Your request has to be forwarded to one of our managers, or third party associates, etc.
  • Increased support requests from multiple clients, which is usually a result of unexpected events such as unscheduled maintenance or any similar occurrences.
  • The complexity of your request requires more time to be resolved.

In case of an increased response or resolution time, stay positive that you are not ignored. Someone from our experienced team will attend to your needs as soon as possible.
I opened a ticket but didn’t receive any reply.
EasyBit Support Team is available 24/7, and is fully dedicated to responding and resolving any type of issue within one hour!

Please make sure that you checked your spam folder just in case your email provider has strict email acceptance policies.

If the above is not the case, please be aware that the support waiting time is also associated with the complexity of the request and if there are third parties involved, and/or other factors.

There are scenarios of increased response time, above one hour, which usually occur because of one of the following reasons.

  • Your request has to be forwarded to one of our managers, or third party associates, etc.
  • Increased support requests from multiple clients, which is usually a result of unexpected events such as unscheduled maintenance or any similar occurrences.
  • The complexity of your request requires more time to be resolved.

In case of an increased response or resolution time, stay positive that you are not being ignored. Someone from our experienced team will attend to your needs as soon as possible.
I deposited my funds to another address.
Unfortunately, sending funds to the wrong address is one of the biggest mistakes someone can ever do in the crypto space. This is why it’s strongly recommended to always double-check the address before making your deposit.

If you accidentally send the funds in another address which is controlled by EasyBit then there is no problem, simply contact us and we will either process your order or refund you, whatever you wish.

If the funds are send to another address controlled by a reliable service then you will have to contact them and hopefully, they will refund you.

If you can not locate the address owner, please be aware that the vast majority of such incidents are never resolved. Once funds are sent to the wrong address, nothing can be done to recover them, and this is why blockchain transactions are so secure in the first place. No unauthorized transfer of funds is possible if one is not the owner of this address and the holder of the private keys.

In any case, request guidance from our experienced team by contacting Support.
I entered an incorrect recipient address.
Unfortunately, entering a wrong address is one of the biggest mistakes someone can ever do in the crypto space. This is why it’s strongly recommended to always double-check the recipient address before placing your order.

If you accidentally entered another address which is controlled by EasyBit then there is no problem, simply contact us and we will refund you.

If the funds are send to another address controlled by a reliable service then you will have to contact them and hopefully they will refund you.

If you can not locate the address owner, please be aware that the vast majority of such incidents are never resolved. Once funds are sent to the wrong address, nothing can be done to recover them, and this is why blockchain transactions are so secure in the first place. No unauthorized transfer of funds is possible if one is not the owner of this address and the holder of the private keys.

In any case, request guidance from our experienced team by contacting Support.
Why did I receive a different amount?
On EasyBit the average processing time per transaction is about 12’, and usually ranges from 5’ to 30’.

Given the volatile nature of cryptocurrencies, the rate is subject to change during the time required for the exchange procedure. This means that the final receiving amount might be different from the one shown when placing your order. That difference may be either on the positive or on the negative side, and this is something that is not controlled or defined by EasyBit but rather on the market movements. We make sure to find the most profitable exchange path by picking the best available rate there is at any given time.

Also be aware that our team has developed Volatility Protection Mode, which makes you immune to negative volatility! If during the transaction, rates drop more than the percentage you indicated, VPM will automatically trigger, abort the exchange, and refund you. So you are assured that your assets are safe at all times.

If you have any further questions about why your final receiving amount is different than the one originally stated when placing your order, feel free to contact Support.
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