Probit

What is ProBit?

ProBit Global is a centralized, coin-to-coin cryptocurrency exchange founded in 2018, featuring over 600 listed tokens and 1,000+ trading pairs. It’s known for supporting “qualified and deserving” crypto projects, maintaining robust security with cold-wallet storage, hardware keys, and 2FA, and delivering high-performance order matching—processing more than 1.5 million orders per second :contentReference[oaicite:3]{index=3}.

The platform offers user-friendly tools like customizable dashboards, automated trading bots, staking programs, grid trading, and IEO launchpad support. Multi-language support empowers a global user base of over 5 million, while its fiat-on ramp via credit card expands accessibility :contentReference[oaicite:4]{index=4}.

Why Accounting Teams Use ProBit with Cryptoworth

• Cost Basis & Inventory Tracking: Every trade includes timestamps, token pairs, quantities, and venue metadata—perfect for injection into Cryptoworth’s cost-basis and WAC calculations.
• Unrealized Gain/Loss & Impairment: Live mid-pricing from ProBit integrates with Cryptoworth to calculate unrealized gains/losses and impairment according to GAAP :contentReference[oaicite:5]{index=5}.
• Reconciliation & Sanity Checks: ProBit’s structured trade and wallet data allow Cryptoworth to perform auto-reconciliation with on-chain entries—reducing mismatches and manual labor :contentReference[oaicite:6]{index=6}.
• NFT Valuation: NFT trades are captured alongside token transactions, enabling integrated valuation and ledger entries for digital collectibles.
• ERP & Accounting System Integration: Pre-built connectors for QuickBooks, NetSuite, Sage, Xero, and others auto-map ProBit transactions into structured journal entries.

Security & Performance Highlights

• High-Speed Matching: Processing capacity of over 1.5 million orders per second supports accurate real-time valuation and reduces slippage :contentReference[oaicite:7]{index=7}.
• Security Standards: Maintains 95% of funds in cold storage, enforces 2FA, hardware-security support, and has a clean security history since 2018 :contentReference[oaicite:8]{index=8}.
• Fiat Support & Compliance: Multicurrency credit-card on-ramps under KYC requirements, allowing Capture of fiat spend alongside crypto inflows :contentReference[oaicite:9]{index=9}.

Frequently Asked Questions

1. Can Cryptoworth calculate cost basis using ProBit trades?

Yes. ProBit’s trade history—including token pairs, timestamps, and prices—is ingested by Cryptoworth to compute Weighted Average Cost (WAC), generate journal entries, and reconcile inventory. Our Crypto Cost‑Basis Calculator streamlines this process.

2. How are unrealized gains and asset impairments handled?

ProBit provides live mid-market reference pricing that integrates with Cryptoworth to calculate unrealized P/L and impairment testing in accordance with accounting standards. These figures feed directly into financial statements and audit workflows.

3. Does ProBit support NFT valuation and reporting?

Absolutely. NFT purchase and sale transactions are captured on the ProBit exchange