The PIT Exchange Review:’s secret weapon

The PIT is a high performance cryptocurrency exchange which supports extremely high performance, security and access to a network of banks for fiat trades. The PIT is made by, a cryptocurrency industry veteran who’s blockchain explorer and wallet is used by millions. To build the exchange, hired trading veterans from NYSE, Google, Goldman Sachs, UBS and TD Ameritrade. The key selling point for The PIT is the efficiency and fairness of the custom “Mercury” trading engine coupled with the large 40M audience already has.

In this review we’ll take a deep dive a the trading features on the PIT, trading and withdraw fees, security and an assessment on liquidity.

 “We decided to take matters into our own hands, and built an exchange that puts users first, including the 40M wallets on our platform.”

Peter Smith, CEO of

Buy Crypto directly with USD or EUR

One of the biggest selling points of The PIT is the ability to buy cryptocurrencies with USD or EUR. As a regulated exchange, The PIT has bank accounts in good standing in both the US and European Union. This customers can buy Bitcoin without paying expensive credit card fees (Binance’s Credit card issuer charges 5% to buy cryptocurrencies). Being regulated also means The PIT has already obtained the necessary audits and permits necessary for operating an exchange.

Daily Clearing to Fiat

A big selling feature for the PIT is the daily clearing of fiat to a network of top banks in Europe and US. This drastically prevents liquidity issues when it comes to fiat, such as failures to withdraw Fiat. This feature will be most attractive to institutional investors (Supported by the PIT Pro) who need direct access to large quantities of fiat.

About allows users to access the PIT exchange directly in their wallet.

The PIT is created by, the first company to establish a blockchain explorer for Bitcoin. was launched in 2011, with the website and In 2013, they launched a Bitcoin wallet for iOS and Android. In 2014 closed the second biggest digital currency financing around of $30.5 Million fundraising from Lightspeed Venture Partners and Moasiac Ventures.

Simple trading interface

The PIT trading interface

The PIT offers a simple, ease to read trading interface. Trading history, order book and price history is very cleanly presented on the trading interface. The front-end also supports a large degree of customization, allow users to use TradingView to draw patterns and trends.

The PIT exchange fees

The PIT charges trading fees using a tiered system based on the amount of USD traded. In the starter tier, fees start at 0.14% for makers and 0.24% for takers. Maker fees decrease substantially as trade volume increases, with the lowest maker fee at 0.02% for trade volumes above $1 Billion USD.

TierVolume in 30 DaysMakerTaker
1$0.00 – $99,999.99 0.14% 0.24%
5 $2,500,000.00 – $4,999,999.99
10$20,000,000.00 – $24,999,999.99 0.03%0.14%
15 $1,000,000,000.00+ 0.02%0.05%

Is The PIT secure

Whilst the PIT is a new cryptocurrency exchange, has been in the cryptocurrency industry since the beginner. has been providing wallets to millions of cryptocurrency users with an excellent security record. This gives a strong reputation and presence in the industry. This puts Blockchain at the top of the list for security (however, we always recommend users to take funds off exchanges for long term storage and into their own wallet, such as the Ledger Nano X).

As an added security measure, there is an optional feature to bind The PIT account with the Blockchain mobile wallet. This will provide additional account security.

What coins can you trade on The PIT

Currently the PIT supports the trading of Bitcoin (BTC), Ethereum (ETH), USD, Bitcoin Cash (BCH), Stellar (XLM), Paxos Standard (PAX), Litecoin (LTC) and USDT.

The PIT Exchange Review

Review Score: 4.5/5

The PIT has three major advantages – abundance of users, access to a network of bank accounts in US & EU, and long term reputation in the crypto space. Whilst 2019 saw a sudden influx of exchanges, most don’t have licenses to work with banks or passed audits. With a simple to use, yet highly customization interface, the PIT is easy to use for new traders and also feature rich for experts.

Fiat Options:
4.5 Star Rating
Fiat Options:
Generally accepts your local currency
3.5 Star Rating
Fiat Options:
4.1 Star Rating
Fiat Options:
4.3 Star Rating
Fiat Options:
4.5 Star Rating
Fiat Options:
USD, EUR, GBP and more
4.4 Star Rating
PIT Exchange
Fiat Options:
4.5 Star Rating


Services offered
Cryptocurrency support


The PIT is a high performance cryptocurrency exchange which supports extremely high performance, security and access to a network of banks for fiat trades. The PIT is made by, a cryptocurrency industry veteran who's blockchain explorer and wallet is used by millions.
I’m Michael Gu, Creator of Boxmining. I’ve been involved in the digital asset and Blockchain space since 2012. Something I immediately noticed was that accurate information is hard to come by in this space. More often than not, we find extremely biased information that exploits the complexity of blockchain to obscure facts. Having been around before bitcoin or blockchain was even “cool” meant that I had to do a lot of discovery myself, and along the way, I had many successes, but also made mistakes. I started Boxmining in 2017 mainly as a passion project, to educate people on digital assets and share my experiences. Being based in Asia, I also found a huge discrepancy between digital asset trends and knowledge gap in the West and China. So I leveraged my knowledge and positioning to bridge that information gap and let people know what is truly happening. This journey has been nothing short of exhilarating for me, starting from when I mined Bitcoin in grad school to appearing on China’s national television as an overseas expert on blockchain technology, and having the honour of interviewing leading crypto entrepreneurs, including Binance CEO Changpeng Zhao and FTX founder Sam Bankman-Fried.


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