Welcome to MTBIT
Founded in 2019, MTBIT is the first-ever and only cryptocurrency exchange developed to attract anyone into the cryptocurrency space through simplified and personalized trading experience, while aiming to provide traders with an all-inclusive financial ecosystem in the cryptocurrency economy.
Currently, MTBIT offers crypto-to-crypto trading, with our powerful orderbook and processing engine capable of handling 5,000,000 orders per second, meaning there will be no delays from our side wherever and whenever you trade.
This section of the guide will be consistently updated as MTBIT develops more functions in the future.
The first thing you need to do after creating your MTBIT account is to optimise your security settings. MTBIT provides an advanced range of security features that users can enable to increase their account security and further protect their funds.
As a bare minimum, we insist for all users to create a strong, unique password for their MTBIT account, and to combine this with Google 2FA. It is extremely important that you note down your 2FA key, made visible during the setup process, saved offline/in a secure location! A failure to do this can, in a worst case scenario, result in account lockouts lasting days.
- Enable two-factor authentication (2FA).
- Lock withdrawals when a new IP address is used.
- Setup a withdrawal confirmation phrase.
- Lock or disable withdrawal addresses for all currencies.
- Disable "Keep Session Alive".
- Limit access to your account based on IP address.
- Enable PGP email encryption.
For more information on how to thoroughly secure your MTBIT account, visit the Security section of the MTBIT Knowledge Base.
Note that if you wish to deposit and trade fiat currencies (USD, EUR, GBP, JPY), you will first need to verify your account. In addition to letting you deposit, trade and withdraw fiat currencies, a verified account can also work to speed up deposit and withdrawal times.
We’ve put together a guide to assist you through the verification process:
Please keep in mind that, once submitted, verification of your account can take up to 6-8 weeks. Whilst waiting, however, keep in mind that you can still deposit, trade and withdraw cryptocurrencies tokens prior to completing the verification process.
To make a deposit, visit the Deposit section of your MTBIT account, found in the top right corner. Choose the currency you wish to deposit (e.g. BTC), generate an address in the wallet you wish to send to and input that address as the receiving address.
The most common type of wallet is the exchange wallet, which is used when buying and selling any of our supported currencies. We’ve put together a few guides to help you through the deposit process -
- Making your first deposit
- Where is my deposit?
- Why is my deposit unconfirmed?
- How do I perform a Ripple (XRP) deposit?
- How do I perform a Monero (XMR) deposit?
- How do I perform a Stellar (XLM) deposit?
- How do I perform EOS token based deposit?
- Deposit Fees
Please keep in mind that deposit times can fluctuate hugely based on network congestion, and the gas price used to send the deposit.
Making Your First Trade
You are now ready to make your first trade. To make a trade, follow the steps below -
- Find to the Trading page and select the pair you wish to trade (e.g. BTC/USDT - buying BTC using USDT)
- Specify the Order Type, Order Size, and Price. To make things simpler you can choose Market Order, resulting in your order being executed immediately at the current market price.
- When you have specified the type of order, size and price, simply click Buy or Sell to execute.
Using the BTC/USDT example outlined above, pressing Buy would purchase BTC using your existing USDT, whereas pressing Sell would sell your existing BTC for USDT.
Your order should now appear in the Orders section, visible below the Chart. Once your order is executed, your funds will be credited to your wallet and the executed (or canceled) order will now move to the Order History tab.
Making your first trade on any exchange can be stressful as it often seems like there are many variables to keep in mind. We’ve put together another example below to help you make sense of it all.
The picture above shows an Order Form for the BTC/USDT pair.
The first box, Limit, shows the type of order. A limit order allows you to specify the exact price and quantity you want (in contrast to e.g. a market order, which executes immediately against the best price available.)
The second box, Price, is the price you wish to pay/receive per BTC token. Keep in mind that this is not the total price you wish to pay, but the price per individual token.
The third box, Amount, is the total amount of BTC you wish to buy or sell. To make a purchase, click buy; to sell BTC, click sell.
We’ve put together a couple of resources which will help guide you -
- Making your first trade
- Order book terms
- Minimum trade sizes
For more information on trading, visit our Trading on MTBIT Knowledge Base.
To withdraw, make your way to the withdrawal page. From here, select the cryptocurrency you wish to withdraw, e.g. Ethereum, and fill out the information as required. This includes filling out:
- The external address (where you wish to send the funds)
- The amount you wish to send
- The wallet you wish to send from (e.g. Exchange wallet)
After confirming that you have read and understood the conditions for auto-withdrawal processing, click request withdrawal.
We’ve put together an in-depth guide to making withdrawals, which should assist you through the process. Below are a compilation of resources which may answer any potential questions you may have -
- How do I make a withdrawal?
- How long does it take for a cryptocurrency withdrawal?
- How long does it take for a wire withdrawal?
- Where is my withdrawal?
- Why is my withdrawal “pending approval”?
- Why was my withdrawal cancelled?
- Why do I have a withdrawal hold?
For an in-depth overview of your account activity history (trades, deposits/withdrawals, balances, funding) you can make your way to the Activity Logs section, found under Settings.