Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
C D Regional Crypto Exchanges

Coinsbit

Coinsbit

ITEcosystem OÜ (operatore storico Estonia, licenza crypto revocata 2020); operatività riportata trasferita in Seychelles

Status
Private company
Legal HQ
Estonia
Founded
2018
Corporate site
coinsbit.io

Historical operator ITEcosystem OÜ (Estonia), which lost its Estonian crypto license in 2020; operations reportedly moved to Seychelles, where ownership is not disclosed. Unfunded, privately held, not publicly listed; no public funding round/valuation. Original founder Nikolai Udianskyi (left in 2019). Trustpilot 1.2/5. Current corporate identity not fully verifiable.
3.1/5 1.1/5 · Data verified on

Coinsbit operates with an Estonian VASP registration and a European base. Its volumes are in sharp decline, however, with relevance looking increasingly limited in 2026.

31
Transparency: Very low
31/100 · see methodology
31
Data exposure: Minimal
31/100 · lower is better for sovereignty · methodology

Data & conditions

Maker / Taker fee 0.2% / 0.2%
Markets Spot
Max leverage 10×
Supported assets 100+
Trading pairs 73+
24h volume $1.5B
Fiat on-ramp Yes
Deposit methods crypto, carta di credito/debito (via Paysoft), bonifico bancario, OTC (sistemi di pagamento locali)
Fund custody Custodial (platform holds funds)
KYC Full
Supported countries EEA · 30+ countries
Regulator None
OAM Italy registration No
Segment B2C
MiCA / License status Unregulated VASP Estonia

Strengths

  • VASP Estonia; basic European.
  • No notable sovereignty advantage documented.

Weaknesses

  • Volume in forte declino; rilevanza limited 2026.
  • Custodial: the platform holds your funds and can freeze or lose them.
  • Full KYC required: verified identity, zero pseudonymity.
  • Subject to regulation (VASP Estonia): reporting to authorities and freezes on order.

Verdict

C D ★ 3.1/5 ★ 1.1/5

Coinsbit operates with an Estonian VASP registration and a European base. Its volumes are in sharp decline, however, with relevance looking increasingly limited in 2026.

Privacy & anonymity 30% 1.0
Fund control 20% 0.0
Censorship resistance 20% 1.5
Costs 10% 3.0

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are Coinsbit's fees?

Coinsbit's spot fees vary by tier; check the official fee schedule.

Is Coinsbit regulated in Europe?

Regulatory status of Coinsbit: VASP Estonia.

Does Coinsbit publish Proof of Reserves?

Proof of Reserves publication is not documented for Coinsbit. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from Coinsbit?

No, Coinsbit is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does Coinsbit support derivatives and futures?

Coinsbit does not offer derivatives: it focuses on spot trading.

Sources

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Update history

✓ Terms unchanged since Jun 1, 2026

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