What is Foxbit
Foxbit is a São Paulo-based crypto exchange operating since 2014. It’s regulated under Brazil’s financial framework, serves over 100 coins with 116 pairs, and mainly targets BRL users — both retail and institutional.
Platform overview
Foxbit offers spot trading, OTC deals, a Visa card, crypto-backed loans, staking via “Earn,” and merchant payments. BRL deposits and withdrawals happen through Pix and major Brazilian banks, with zero deposit fees and no hidden charges. Withdrawals are quick and fee-free in reais.
Where it shines
- Regulated by Brazil’s central bank, AML/KYC compliant, member of fintech associations.
- High security: 2FA, biometrics, multi-sig cold wallets via BitGo/Fireblocks, Cloudflare WAF.
- Direct BRL support through Pix, banks, cards; instant withdrawals with no fees.
- Reportedly Brazil’s deepest BTC liquidity, with solid flow on BRL pairs.
- Smooth web and mobile interfaces; Android app has 500k+ installs.
Where it falters
- Primarily Brazil-focused — limited multi-fiat and minimal global reach.
- No margin, derivatives, or futures. Lacks advanced charts, bots, or leverage.
- No public proof-of-reserves. Aggregated volume ranges from ~$3.8m to ~$8.5m daily, hard to verify.
- Mixed reputation — trust scores vary, with some complaints about slow service.
Quick metrics
- Founded: 2014
- Assets: ~109 coins, 116 pairs
- Daily volume: ~$3.8m to ~$8.5m
- Liquidity: deep BRL books on BTC, ETH, XRP
- Regulated: yes, central bank, ABFintechs, full AML/KYC
- Security stack: 2FA, multi-sig, Cloudflare, cold storage partners
User experience
Most traders find the UI intuitive. BRL deposits and withdrawals are smooth. The app is widely installed but only moderately rated. Higher KYC unlocks more features but can delay access. Support is inconsistent — some helpful, others slow.
Who it fits
- Brazilian traders wanting a secure, regulated BRL on/off-ramp.
- Casual spot traders or hodlers favoring compliance over tools.
- Businesses using Foxbit Pay or Visa crypto cards.
Who should avoid
- Global users needing diverse fiat support or advanced derivatives.
- Traders wanting leverage, bots, or heavy analytics.
- Transparency-focused investors demanding public reserve proofs.
Verdict
Foxbit shines for Brazilian traders — it combines strong regulation, fiat ease, and tight security. For locals, it’s a top-tier BRL spot platform. But it’s not for global speculators needing derivatives, deep tools, or proof-of-reserves.