Decentralized Club Ama with TootBit.
On the 5|04|2023 Decentralized Club had the honor of hosting GEORGE from TootBit for an Ask-Me-Anything session on their Telegram page with a community of over 60,000 people. It was hosted by Auria
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions (Tootbit Official group)from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what TootBit is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Auria
Hello
I’m Auria, your host for this AMA session.
For today’s AMA session, we have invited the Scorpio from Tootbit to help us learn more about this awesome project.
Let us all give a warm virtual welcome to our guest , @scorpionoxvoid 👏
George
Hello! 👋
Auria
It’s pleasure to have you here with us.
George
Thanks for the warm welcome!
Nice to be here.
Auria
Thanks for joining us
as you already know, this AMA will have 3 segments.
Intro segment
Twitter segment
And in the last (3rd) live segment in Tootbit office group( http://t.me/Toobit_EN ), Tootbit Team will unmute the chat to allow questions from our dear Community!
So let’s start our AMA with basic introduction segment.
George
Okay.
Auria
Kindly type ‘’Done’’
After answering the question.
George
Okay.
SEGMENT 1
Auria
Here’s the first one for you
Can you introduce yourself to the community? What is your background and how did the team build your project?
George
Okay.
So again, hello everyone, really glad to be here. I’m George, the marketing manager at Toobit. I have experienced with several top tiered exchanges before and now choose Toobit as my new milestone in my career.
Founded in October 2022, Toobit is a leading global digital trading platform built by former core members of Huobi and the former executive of Bybit.
The team is composed of tech titans, industry thought leaders, operations experts, and security engineers — all united under the banner of providing the best all-in-one trading platform. Additionally, by addressing the needs of individual customers, professional traders, and institutions investing in digital assets, we aim to enable users to trade high-quality financial assets freely and equally across the globe.
At present, the platform has obtained USA MSB license and Canada Fintra MSB. We are committed to becoming a benchmarking platform for global compliance operations in the industry, providing the most compliant, safe and professional digital currency trading services for users worldwide.
The market depth of the first three stalls of the platform has reached the order of one million US dollars, far exceeding the industry’s average market depth level of 10,000 and 100,000. The spread is low and the transaction is fast.
You all can visit our official website at http://bit.ly/3mQZLLP to learn more. There’s a series of rewards waiting for your grabs!
DONE.
Auria
Niice!
Next question…..
What products are available on the Toobit platform?
George
Thanks for asking this question.
Well, now we support Futures trading and Spot trading. And our copy trading, trading bots and OTC will be launched in this quarter.
Meanwhile, to bring to users a better product and better user experience, Toobit has rolled out a new feature — Reverse Position. Just one click, users can close their current positions and open new positions in the opposite direction. With this upgrade, traders can easily adjust their trades and positions in response to the latest market conditions. You can visit the following link to try it: https://bit.ly/3mQZLLP
We’re planning to launch Copy Trading this month of April. It will allow users to follow other traders and start trading right away. Simply follow other traders and automatically open and close the same orders they placed. Amplifying your balances by copy trades that automatically be initiated via a market order.
DONE.
Auria
Sounds great.
Interesting to try.
So what benefits can Toobit give to new users?
George
Great question.
We actually have a series of events here. Some are already ongoing and more are coming very soon.
You can get a welcome bonus. And get a up to $290 Welcome Package by registering and trading on Toobit platform. New users can get $10 easily by registering. Please get to know more details at https://bit.ly/3mQZLLP. Everyone is welcome to register and experience trading on Toobit.
The Easter Event will be launched on tomorrow, April 6th. Please join to win rewards and have fun!
In addition, you can get a bonus voucher and use it while you’re trading.
We’re running an affiliate program as well, which can get up to 80% commission.
You also can get a 40% rebate by inviting friends.
Becoming a Toobitor, you have the priority to get airdropped native tokens in the future. The earlier you join us, the more rewards you can get.
Meanwhile, we’re also preparing rewards for the regular events held on Telegram: https://t.me/Toobit_EN
Everyone is welcome to join! 😉
DONE.
Auria
Impressive
What your plans?
George
Well, good question. Thanks for asking this.
First of all, copy trading is under development. It will be launched in the middle of this month of April.
Meanwhile, Toobit will support the broker system and cover web 3.0 digital assets such as NFT.
DEX system, based on the decentralized wallet, carries various web3.0 assets, supports various cross-wallet conversions and transactions, and user asset transactions and swap.
We are committing to grow globally, such as Latam, Russia, Turkey, Korea, Japan, Southeast Asia, America, Europe, etc.
We’re running an Affiliate program and Toobitor program. The earlier you join us, the more benefits you can get.
As you can see, we’re professional, enthusiastic, and full of experience. We do think we will be the best within 1 year.
Any visitors are well-welcomed. You can visit and trade on our platform.
DONE.
Auria
That’s wraps up the first part of the Ama session .Thanks George for your Answers!
Let’s now proceed to the twitter segment
SEGMENT 2
Auria
Here’s the first interesting question from twitter
Is there a KYC requirement for the transactions we will make on the Toobit Platform? What documents are required for KYC, if any? Finally, what are the transactions we can do without KYC?
George
Well, KYC is not really mandatory for Spot and Futures trading. If you complete basic KYC, you can withdraw up to 2 BTC per day. While if you complete advanced KYC, you can withdraw up to 50 BTC per day.
As for the documents for KYC, you need to prepare:
— A photo of your valid ID (front view)
— A photo of yourself holding your ID (front view) with a note stating your name, Toobit, and date of application.
DONE.
Auria
Alright!
Security and privacy are a priority and of importance to the entire community and project. So, can you tell us what is the security mechanism that is implemented inside your ecosystem? And how about your smart contract, by any chance is your own smart contract being audited by others?
George
Good question.
We are putting great priority to Asset Security. Three-layer security system, comprehensive security audit. Self-built the industry’s most advanced layered deterministic cold wallet system, all recharge addresses assigned by users are cold wallet addresses, and fund collection and withdrawal are completed through offline signatures.
DONE.
Auria
If we compare Toobit with a big exchange such as Binance, can you talk about the advantages that can enable a user to choose Toobit locally or globally?
What are the advantages offered by the Toobit exchange?
George
Compared to other exchanges, Toobit has several advantages. The most important thing for us is Asset security as I mentioned above. Three-layer security system, comprehensive security audit. Self-built the industry’s most advanced layered deterministic cold wallet system, all recharge addresses assigned by users are cold wallet addresses, and fund collection and withdrawal are completed through offline signatures.
Other than that, we also put risk control Resolution as our priority. Second-level judgment, multi-layer encryption, the system is highly secure. The combination of hot and cold wallets, military-grade encryption measures, asset transaction security is guaranteed, and 100% guarantees the security of users’ digital assets.
In addition, smooth trading, self-developed technique, fair price, and quality service are also what we can promise.
And more importantly is that we are a group of people with passion and experience in the industry, so we have a faster sense of the industry and a more accurate understanding of products.
DONE.
Auria
@TaslasCaner
Do you have an advantage for new users for more people to trade on Toobit? Can you explain your incentives for users who are new to Toobit?
George
As a new user, you can get a up to $290 Welcome Package by registering and trading on Toobit platform. New users can get $10 easily by registering. Please get to know more details at https://bit.ly/3mQZLLP.
And then you can join our Easter event starting tomorrow, April 6th.
Info here: https://t.me/Toobit_announcements/194
We have the new user guidance and 24/7 support team. Whenever you need help, we’re behind you.
DONE.
Auria
Moving on to our last question of Twitter segment
George
Okay.
Auria
How can users stay updated and join your project? Are there channels with the local Community where users can get the latest upcoming updates?
1. YouTube Channel?
2. Tutorial Videos?
3. Twitter, Medium?
4. Website, Discord?
5. Others?
George
Sure. You guys can stay up-to-date with our community in our social media channels.
🔹 Website: http://bit.ly/3mQZLLP
🔹 Twitter: https://twitter.com/Toobit_official
🔹 Telegram: https://t.me/Toobit_EN
🔹 TG Channel: https://t.me/Toobit_announcements
🔹 YouTube: https://www.youtube.com/@Toobit_official
🔹 Reddit: https://www.reddit.com/r/toobit/
🔹 Discord: https://dsc.gg/toobit
🔹 Facebook: https://www.facebook.com/toobitofficial
🔹 Medium: https://medium.com/toobit-exchange
DONE.
Auria
Thank you for answer all the Twitter question. That’s so informative for our community
It’s time for the live segment!
George
Okay.
SEGMENT 3
Q.1 Mr. THOMAS
Is TOOBIT EXCHANGE Is Available Only on the WEB PLATFORM or You have also Launched on ANDROID PLATFORMS, Kindly Tell me about this and Where Can I Find your APP , In APP STORE ?
George
Our platform is available on both WEB and APP.
Here are the download links:
— Android: https://play.google.com/store/apps/details?id=com.planet.toobit
— iOS: https://apps.apple.com/app/id1660882885
— Direct APK link: https://s3.ap-northeast-1.amazonaws.com/s3.toobit.com/app/android/toobit_1.0.8_118.apk
You guys can visit our website at toobit.com and scroll down to the download section too.
Q.2 Indian Whale
Do you plan to make Withdrawal of assets automatically trigger and is your platform having live support?
George
Good question. Of course, yes, withdrawals will be processed automatically in the very near future. The processing of withdrawal in Toobit is currently being manually verified to prevent any potential risk incurred. This is why it takes a while for a withdrawal request to be processed. This is for the sake of our customer’s asset security. We are working on to improve the withdrawal processing system to provide a better customer experience. Thank you for understanding.
Q.3 Chukky
What are your plans specifically for non-English speakers?
Are there any ToolBit community groups and moderators for users who are not fluent in English?
How do you plan to attract more users ?
George
We will surely launch more local communities for non-English speakers. Currently we have Turkish, Russian and Korean groups.
https://t.me/Toobit_Russia
https://t.me/Toobit_Turkey
https://t.me/Toobit_Korea
If anyone would want to offer starting a local community, you can send an email to market@toobit.com.
We are also planning to launch an ambassador program in the very near future. Stay tuned.
Q.4 Alhamdulillah
Where I can get the latest updates or more information about the project?
George
I would love to answer this question again to prevent you guys from getting fooled by all these fake Toobit accounts.
Only follow our official links for the latest updates.
🔹 Twitter: https://twitter.com/Toobit_official
🔹 Telegram: https://t.me/Toobit_EN
🔹 TG Channel: https://t.me/Toobit_announcements
🔹 YouTube: https://www.youtube.com/@Toobit_official
🔹 Reddit: https://www.reddit.com/r/toobit/
🔹 Discord: https://dsc.gg/toobit
🔹 Facebook: https://www.facebook.com/toobitofficial
🔹 Medium: https://medium.com/toobit-exchange
Make sure to take note of our official links.
Q.5 Anant
I am Already Using Multiple Exchanges And the Main Problem I Found is the Complex User Interface So have You Thought to Solve this Issue of Complex UI and UX and Is TOOBIT has User Friendly Interface ?
George
This is a very good question actually. Providing great experience to our users is one of our top priorities. Our UI and UX is designed for all types of users. It is very easy to user and navigate. We are working very hard to make sure our platform will be a very convenient one to use for all types of users and traders.
Auria
Alright that’s wrap
Thanks for joining us today
@scorpionoxvoid
Before you go any final words to our community?
@scorpionoxvoid
George
I would just like to thank everyone for tuning in and again, don’t hesitate to follow our official social accounts and stay tuned for more exciting events.
Don’t forget to participate in our upcoming Easter Event tomorrow.
More info here: https://t.me/Toobit_announcements/194
That’s all. See yah guys around.
Auria
Thanks again
Best of luck to the whole Team
Chat unmuted
IMPORTANT LINKS :
🔹 Twitter: https://twitter.com/Toobit_official
🔹 Telegram: https://t.me/Toobit_EN
🔹 TG Channel: https://t.me/Toobit_announcements
🔹 YouTube: https://www.youtube.com/@Toobit_official
🔹 Reddit: https://www.reddit.com/r/toobit/
🔹 Discord: https://dsc.gg/toobit
🔹 Facebook: https://www.facebook.com/toobitofficial
🔹 Medium: https://medium.com/toobit-exchange