1xBit binary options review

 
Overall 60%
Trading platform 4/10
Payout 8/10
Range of options 3/10
Transactions 5/10
Customer service 4/10
Privacy and security 8/10
Established: 2015
Located: Russia
Minimum trade: 0.05 m฿
Maximum trade: 4 m฿
Currencies:
Bitcoin Cash BCH Bitcoin BTC Dash DSH Ether ETH Funcoin FUN GameCredits GAM Litecoin LTC Doge XDG NEM XEM Monero XMR Zcash XZC

1xBit first ran a government currency broker, 1xbet. Instead of just adding bitcoin transactions like a lot of government currency brokers have, they took the right choice and made a stand-alone end-to-end bitcoin site.

There is a lot going on here

  • Binary options and financials.
  • Sports betting and live betting including a betting exchange, horse racing, trots, greyhound racing and cockfighting (review)!
  • Casino including live casino, XXX games and games like rock-paper-scissors and Russian roulette (review).
  • Poker room (review).
  • Dice game (review).

The sports betting is decent, everything else is bad.

Trading Platform

1xBit have an interesting forex options trading platform where you can make limit orders and have stop losses rather than just binary options. The platform does not operate on the weekend!

It’s annoying that you have to transfer funds between your main balance and a separate binary options trading balance for no good reason.

Payout

There is no set payout amount because that will be determined by the parameters you set when you make the option. Generally the payouts are very good though with a smaller edge/commision in 1xBit’s favor than is the case at most brokers.

1xBit has the highest payouts of all brokers.

Range of options

There are 10 currency pairs and a random tracker available. Option durations are

  • 1 minute.
  • 5 minutes.
  • 10 minutes.
  • 60 minutes.

User experience

The website is cluttered and clunky, trying to cram too many things into 1 place. There are too many options and they don’t always work as expected.

We did not like it at first but it grows on you as you use it. You will not feel disorientated after you figure out where things are and how they work. Some parts of the site are actually pretty cool.

The forex options are an example of this, its confusing at first but after placing a few trades through it you get used to it.

<a href=”https://bituptick.com/goto/1xbit-review/” target=”_blank” rel=”nofollow noopener”>1xBit</a> has the same thing up at multiple URLs. The main one is 1xbit.com but they also use and link to things like 1x-bit.com and 1xcrypto.com where you login is preserved. This is confusing and insecure.

Transactions

The minimum withdrawal is way to high, at a huge 10 m฿! There is no withdrawal fee so this policy may have came about when bitcoin transaction fees were very high.

Your account currency can be bitcoin or 10 different altcoins. You can  then deposit and withdraw with bitcoin or 20 different altcoins which will be converted into your account currency.

1xBit has the equal best transactions of all brokers.

Customer service

Customer service channels available:

Live chat and email.

Speed of replies: Live chat usually reply instantly but are slow to actually help, or sometimes they just forget about you. Emails are quickly replied to.
Accuracy of replies:

Okay if you are asking a question about 1xBits trading platform and rules. Bad for anything else.

They are not knowledgeable about crypto and they are useless if you have a bug or issues. Live chat will waste your time getting nowhere then ask you to email support instead.

Real life customer service test

Question:
Is there a reason the financials/forex section is not working? Is it only open at certain times?

How many confirmations does a bitcoin deposit need before it can be used to bet?

Answer:

It does not work on weekends, unfortunately.

Deposit via Bitcoin may take up to 24 hours depending on the priority you have chosen. There is no confirmation limit however.

Notes:

It took multiple followups over about an hour to get the exact times for the first question.

The answer to the second question is incorrect and shows a lack of understanding about bitcoin transactions. After I tried to explain the number of confirmations is not a limit but rather a requirement they will have set, probably between 1 and 6, the customer service staff would still not get the correct information.

Privacy and security

1xBit has the same thing up at multiple URLs. the main one is 1xbit.com but they also use and will link you to things like 1x-bit.com and 1xcrypto.com where you login is preserved. This is confusing and insecure.

Bonuses

100% first deposit bonus up to 1000 m฿. The funds go into your account gradually as you trade and you can easily opt-out.

There are several different bonuses and special offers depending on your interests. It’s nice that the terms and conditions are explained fully and clearly.

Overall

1xBit’s binary options are below par. The range is poor and the platform is not intuitive to use. Give it a shot if you want to use altcoins or if you want a binary options site that also has a sportsbook, casino or poker room.

Visit 1xBit

Broker walk-through

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1 Comment

  1. RalphH 8 months ago

    I hope that it’s alright that I write about this with a few of
    my clients, it will help their comprehension of binary options considerably.

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