hitbtc exchange review

It also has a lot of useful tips on cryptocurrency trading in general. The user can trade Bitcoin and other cryptocurrencies on the platform. Aside from Bitcoin, they can trade with some major cryptocurrencies like Ripple, Ethereum, Stellar, etc.

  • Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
  • Anyone looking to withdraw the equivalent of 1 BTC or more in a 24-hour period, or the equivalent of 5 BTC or more within a 30-day period, will have to complete a KYC check.
  • Both have solid reputations and are desirable for currency traders.
  • Choosing the wrong address means funds may not be retrieved.
  • On the right side of the screen you can view different trading pairs under “Instruments”.
  • High competitive fees, as the trading fees are lower than the average industry trading fee.

This is not ideal especially for those smaller traders who want to trade the more expensive coins. There have also been reported inconsistencies between the fees that some users are paying for transfers. Some users claim they have been charged high fees whereas others have had no issues. These contracts have cash incentives as well as rebate bonuses. For those traders who like to code their own trading bots, HitBTC offers a pretty robust and efficient API.

Registration Process

HitBTC is a crypto exchange originally from Denmark, which has been operating since 2013. The exchange claims to have a terminal built on the best technology that lets you trade effortlessly on any of the available trading pairs. With respect to trading pairs, HitBTC is one of the exchanges in the world with the largest selection. HitBTC itself claims to be the largest spot trading market in the industry (with over 800 trading pairs and 500+ spot instruments supported). So if you are looking for a specific less known altcoin, chances are good that you will find it here. Wild Growth Rates – One of the most difficult parts of doing business for all cryptocurrency exchanges is the sheer rate at which these exchanges have had to grow.

Can US citizens use HitBTC?

Can US Citizens Use HitBTC? HitBTC is one of the popular cryptocurrency exchanges which is preferred for trading platforms that US traders cannot access. According to its official terms of use, the USA residents are not permitted to use the service that also includes other jurisdictions within the USA.

People aren’t blind and everybody have access to internet….reported volume is still showing Hitbtc in the 12th Rank…. There are some disadvantages in this exchange, but all in all it is not bad. It’s not just a case of the exchange malfunctioning and breaking down. It is sadly a case that the exchange is acting in a dishonest way and it has become very obvious to many coin communities. Usually, one such issue should not be taken as a token for exchange credibility.

Withdrawal Fees

In order to fully work with HitBTC you need to both register and verify your account. Registration is simple and you only need to specify your email address and desired password. You will need to confirm your email, just follow the link you received in the email. Blockfer serves as your bridge from the traditional to blockchain finance world.

hitbtc exchange review

It means that makers are charged with smaller commissions than takers. More than that, makers with high trading volume can avoid paying fees or even start getting rewards for their trades instead of paying commissions. hitbtc review One of the important features offered by the HitBTC trading platform is that the user trades without verifying their account. If they want to work with digital currencies, there is no need to offer any personal data.

Lending Platforms

It means that no matter how much you want to withdraw the exchange will charge the same amount of money . This amount gets adjusted automatically in accordance with the market prices in order to make the HitBTC users’ transactions fast. If the user wants to deposit funds to their HitBTC account, they should first generate a wallet address. Then they need to click the deposit button identified in green color. The user needs to select the corresponding row they wish to deposit and click “fund.” When this is done, the user gets a wallet address with numbers and letters along with a QR code. HitBTC does not force the verification status to have an upgraded account.

  • Today we applied to the international court with my lawyer.
  • Then they need to click the deposit button identified in green color.
  • Once you choose to sign up to the affiliate program you will receive a custom link that will be used to track your referrals.
  • We show reviews chronologically, and you can filter by star rating, language, location, or keyword.
  • On the right side of the trading screen, enter the coin that you want to buy, and then click on your chosen trading pair.
  • These orders give an opportunity to sell or buy the chosen instrument at the market price .

While our site will provide you with factual information and general advice to help you make better decisions, it isn’t a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you’re unsure about anything, seek professional advice before you apply for any product or commit to any plan. We are an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, we may receive compensation from our partners for featured placement of their products or services.

How To Deposit & Withdraw On Hitbtc?

HitBTC’s provides access to over 300 crypto currencies, including Bitcoin, Ethereum, Lite coin, Doge coin, Monero, and USDT. They recommend using 2-factor authentication when signing up to strengthen your account’s security. You can activate it when logging in, withdrawing funds, and adjusting settings. HitBTC brands itself as a highly advanced exchange for a variety of Altcoins including DASH, ZEC, EOS and BTS.

HitBTC’s pairs each Altcoin with USDT , Bitcoin or Ethereum. While verification is not mandatory on HitBTC, unverified accounts do have certain withdrawal limits in a day. Hence, if you wanted to withdraw more than the limit that they have on the exchange then you will have to verify your account. After reviewing many exchanges, these problems don’t sound so unusual to us . As with Russian crypto exchange YoBit, HitBTC’s formerly reliable service has devolved into a model with all of the earmarks of a common scam. Angry users are many, and HitBTC can’t be seen as an option for crypto users.

Is It Safe To Use Hitbtc?

The MT4 platform is no doubt one for professional traders who do a great deal of technical analysis. Another unique feature of HitBTC’s platform is the ‘Trollbox’, a live comments section where traders can engage in discussions and speculate prices. HitBTC also allows you to deposit or withdraw on any of the available coins by clicking the icons displayed in the deposit and withdraw columns. As more exchanges come under the scrutiny of regulators, verified accounts are slowly becoming mandatory. So it would perhaps be best to get verified now before they require mandatory verification. HitBTC offers a support center that features a variety of articles covering everything from ‘Account & Security’ to ‘Legacy & KYC’.

hitbtc exchange review

Most common problems people have complained about are withdrawal delays and inexplicable loss of funds. HitBTC might have many advantages and upsides, but the disadvantages are so major that they cannot be ignored. Out of all the downsides of HitBTC, it is the slow-withdrawals that they need to work upon to retain their users. Withdrawals not reaching customers on time, and lost-trades are the most frequent complaints from users. If they resolve some of these issues and focus on improving the experience of their users, they might have a higher user base in future.

Many users complained of their coins being ‘lost’ on the platform, as well as delayed or no withdrawals from the exchange. The fees structure of HitBTC exchange is different and fairly competitive when compared to other exchanges out there. They charge 0.1% from takers , and they provide 0.01% rebate to makers . This mechanism or design is followed nowhere else and very much a way of inviting users to buy and not to sell their coins. Every exchange charges both sides of the trade-in some form or another but HitBTC is the only one to offer a rebate when buying. Recently HitBTC updated its fees policy and started to follow international AML/KYC rules.

  • The platform allows users to buy, sell and trade hundreds of different cryptocurrencies, 24 hours per day.
  • It’s important to note that when you trade with this MT4 platform, you are trading CFDs .
  • To deposit pre-purchased coins, you must check that the platform supports the coin you want to deposit.
  • Do you want buy bitcoin with paypal without id verification or…
  • These issues have been increasingly publicized over time and the company has had several years to address these allegations.
  • As I discover an exchange worth sharing, we share it with the world.

HitBTC provides its users with a mandatory 2FA (two-factor authentication) to secure your account with an added layer of protection. They also have high-end security features enabled for their website, adding yet more security. This review aims to make it easy for the user to decide which crypto-exchange they would prefer to use.

After HitBTC signup, it forces users to activate the 2FA because some features won’t be available for others without it. Once a user reacher at tier 8 with 50,000 BTC per month or more, this platform pays a rebate of -0.01% per trade to the users.

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Margin trading – For traders who want to leverage their trading, HitBTC offers cryptocurrency margin trading through the MetaTrader 5 Terminal. OTC Trading – HitBTC offers Over The Counter trading for people looking to sell or buy large amounts of Bitcoin or other cryptocurrencies (over $100K).

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Besides for trading cryptocurrencies, ICOs, and tokens, the exchange provides proper markets for fiat trading, which includes EUR and USD trading pairs. The app provides a secure, effective, and fast way to trade cryptocurrencies on your mobile phone. HitBTC provides various good features, one being an API that third parties can use on their sites, however where it does fall short is having a dedicated mobile app. Not many exchanges do have them but the larger ones like COinbase do, we think HitBtc is closing in on that territory. Not having an app does make the user-base limited, with users either having to use their mobile web-browsers or desktop to access the website.

Depositing using the bank account requires a complete verification process, which takes time. On the other hand, cryptocurrency as a deposit method will only take 20 minutes or so for the funds to show up in your account. The biggest and primary concern for the Hitbtc exchange is their accountability because the company location for where it operates is not known. Although the mailing address is in Hong Kong, and it claims to have an office in Chile and Estonia. Therefore, it should act as a significant red flag, as it would be difficult to locate them if, due to any reason, something happens to the funds. HitBTC has around six million venture capital investments in Hong Kong, but it focuses more on the European crypto markets. Today we will review HitBTC, a cryptocurrency exchange that offers high liquidity and access to the largest cryptocurrency collection in the industry.

Author: Felipe Erazo

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