Probit Exchange is an ambitious crypto exchange project that promises its users next-generation user security and functionality. Officially launched on November 30th of this year, the platform aims to distinguish itself by providing global coin-to-coin exchange services with presence in major financial markets, an advanced trading engine with fast and robust user experience and a high level of security using a wide array of digital asset security features.
The Probit whitepaper outlines the unique features which it believes will set it apart from the field. Chief of these features is the platform’s matching engine which competes with the world’s fastest. According to Probit, it can handle more than 1,500,000 transactions per second, placing it among the fastest exchanges in existence.
There are three key security features which Probit offers users. First, it uses offline or cold storage, storing 95% or more of digital assets in cold wallets, which protects its users against theft or loss. Next, a strong encryption program to store data is in place. Privacy information and wallet private keys are designed to be encrypted several times over. Probit also encourages the use of hardware security keys, which dissuades hackers as they cannot log in without a key. FIDO U2F hardware security keys and Google Authenticator’s, software-based 2FA are both supported.
Besides applying various security requirements to the server for physical software and management system, Probit also provides entire session management, monitoring for inactivity and initiating timeout sessions when due as well as website security. Using HTTPS(SSL), Probit protects users from such malicious attacks as SQL injection, cross-site scripting, and DDoS.
The user experience is designed to prioritize convenience and ease of use, even for novices. Probit aims to put in place a fully customizable dashboard which can be set up according to user preference showing the most relevant and prevalent information for the trader. Along with a 24-hour trading platform and multi-language support, this also makes it easy for orders to be placed quickly. The exchange supports clients for all major devices and platforms including browser-based clients, mobile web clients, and iOS and Android devices.
Supporting the fronted coins as base currencies, Bitcoin (BTC), Ethereum (ETH), Tether (USDT), EOS (EOS) as well as its own ProBit Token (PROB), the platform will have 150 or more cryptocurrencies and several hundred trading pairs in the launch window.
PROB token is the exchange’s native utility token running on the ERC-20 standard, providing users with such utilities as trading fee discounts, voting rights for the listing of new tokens, increased referral bonus and early access to new features. This will run alongside a tiered membership program for users. Depending on the PROB being held by users, they could be a “Standard” user or “Premium,” users in the latter qualify for enhanced benefits.