Hitbtc Exchange Features Review

Nevertheless, on this platform, users can deposit funds using real-world money through direct bank transfer. The MSP of Hitbtc is its highly competitive fees, as it offers the lowest prices in the crypto market. At first glance, it is easy to see why HitBTC is responsible for some of the largest trading volumes in the crypto exchange industry. Not only does the platform support more than 300 coins and over 800 trading pairs, but fees are highly competitive. However, upon further analysis, we cannot endorse HitBTC as a credible exchange. Launched way back in 2013, HitBTC is one of the oldest cryptocurrency exchanges in the industry.

Not long after its launch in 2015, HitBTC went offline for a short period of time. During this event, some users complained that they couldn’t withdraw funds from the exchange. This was presumed to have been caused by the exchange freezing user funds as a security precaution after another exchange called Bter had funds stolen during a hack. Overall, the HitBTC incident of 2015 wasn’t a major problem. Of course, many people will argue the fact that the exchange can freeze funds whenever it sees fit is a negative when considering security. Some of HitBTC’s disadvantages include its unregulated status, limited support for fiat payment methods, and high withdrawal fees. As mentioned earlier on, HitBTC supports hundreds of trading pairs and cryptocurrencies.

Hitbtc Statistics

The traded price of digital tokens can fluctuate greatly within a short period of time. In order to diversify its product range, HitBTC also allows you to trade on margin. However, once again, this is best suited for those with an advanced knowledge of trading. The rating results published on Cointelligence are based on an independent rating system developed by the Cointelligence team. They do not reflect any official governmental approval or regulatory compliance.

Users are able to enhance their exposure to the crypto market by placing margin-backed trades, which entail trading via borrowed funds. Through this strategy, traders can increase the value of their deposit through the means of collateral, thereby accessing a higher profitability potential. Margin trading is extremely risky however, as users must cover any loss caused by falling crypto prices. For the BTC/USDT margin trading pair, users can expect a 1M USDT borrowing limit for long positions. This gives HitBTC a competitive edge over exchanges that keep their users in the dark about real time performance issues.

Compared to most cryptocurrency exchanges, trading fees on HitBTC are competitive. On the contrary, makers actually receive a 0.01% rebate for each trade. HitBTC exchange allows users to experience real-time professional trading without depositing a single cent.

Is Hitbtc Exchange Safe And Secure?

This is one of the most common security features when it comes to top-tier crypto exchanges. You can choose from more than 380 cryptocurrencies and over 800 crypto pairs. That being said, even if you’re a fan of less popular coins, the chances of hitbtc review finding them on HitBTC are truly high. HitBTC allows you to trade the most popular cryptocurrencies and widespread fiat currencies, including USD and EUR. The main company’s goal is to introduce crypto traders to the most advanced technologies.

Do not expect a quick turn-around from HitBTC’s side, users often complain about a very slow verification process. The first one is -general account, in which you may deposit any cryptocurrency for free. But there is a daily withdrawal limit of EUR 5000 worth of cryptocurrency.

Reviews

When we performed a like-for-like comparison with Coinbase, we felt the platform was a much better option if you’re looking to buy and sell crypto. Coinbase was far easier to use, we could deposit funds with a debit/credit card and e-wallet, and customer support was top-notch. In the ‘Amount’ box, enter the amount of cryptocurrency that you want to buy.

We are publishing reviews for each of the top exchanges, so don’t miss any of these updates by joining our Telegram group. Setting up an account is a breeze and verification isn’t necessary for small amounts. However, if you wish to increase your limits and access fiat currency, you need to take things a step further.

• The flat and dynamic fee structure is confusing and has led many users to question HitBTC’s transparency and ethics.
• On the trading screen, they can enter the crypto they would like to buy and click their preferred trading pair to buy coins.
• This popular digital currency exchange offers crypto-to-crypto trading on more than 300 coins and tokens, including many major currencies and a host of rarer altcoins.
• Nevertheless, on this platform, users can deposit funds using real-world money through direct bank transfer.
• The reason why they’re so secure is because your private keys are stored offline.
• Margin trading is extremely risky however, as users must cover any loss caused by falling crypto prices.
• The HitBTC account login process is also complex and protected from intruders.

However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market. Finder has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don’t cover every available product or service. There are no maximum deposit or withdrawal limits mentioned on the HitBTC website. The trader claimed that HitBTC has locked his mother’s account and was not allowing her to withdraw her funds.

Both have solid reputations and are desirable for currency traders. This review of Bittrex vs. HitBTC will help you decide for yourself. HitBTC has a good reputation as a place for professional traders, but negative reviews abound. Users have complained about everything from support to withdrawal times to lack of location transparency (are they in London or Hong Kong?!).

Currency Options

HitBTC has some of the most in-depth and trader-friendly features on the market. HitBTC’s Basic Account allows for anonymous trading of cryptocurrencies, albeit at modest levels. Hitbtc has never been hacked before, besides some sources saying otherwise without any proof regarding security.

The final fees and totals are not known from the beginning because the price is going to vary while the order is open. BTC/USDT Chart on HitBTC exchangeUser reviews about HitBTC exchange are mixed. Some of these reviews have dated badly, some lack important facts, and others don’t address the exchange criticism properly. As per several HitBTC reviews, registering an account with HitBTC is simple and easy, and here are the steps to register on this platform. It has a wide range of cryptocurrencies when compared with other exchanges. There are no upper limits for deposits and withdrawal operations. HitBTC offers a robust and friendly API, and the traders can use their trading bot that works well with the platform API.

What Cryptocurrencies Does Hitbtc Support?

As you can see it’s quite hard to figure out what’s the exact location of the company’s headquarters. HitBTC does not ask KYC procedure from every trader, but it will ask the traders to read their terms and conditions before using their platform. HitBTC is considered a secured exchange, and it is one of the few exchanges that have not undergone hacking before. After you sign up and connect your first exchange account, you’ll deploy an investment-maximizing strategy in as few as 5-minutes. Each day Shrimpy executes over 200,000 automated trades on behalf of our investor community. That means they will pay you for maker orders that are executed after you reach a volume of 50,000+ BTC. Next, we will walk through the process of retrieving your API keys.

It provides trading in multiple traditional currencies to cryptocurrency pairs and cryptocurrency to cryptocurrency pairs. This will attract first-time cryptocurrency traders because they can turn fiat into crypto very easily. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person.

Featuring over 800 trading pairs and more than 500 spot instruments, it’s no surprise that thousands of users worldwide leverage HitBTC’s trading services. Recently , HitBTC released a demo version of their platform. Using a demo account, users can try their hand at trading without risking any financial investment. They can trade simulated funds in order to get a feel for trading and educate themselves. At the same time, all the market data in the demo is the same real-time data from the real HitBTC exchange. Trading can be done manually or via the API – the test mode is as responsive as the regular exchange platform.

• I gave a talk at a crypto conference about Bitcoin affiliate programs and told my story with HitBTC as an example of how not to behave.
• Also, it offers the below options for the users to contact them through the below channels.
• Unlike its name, that involves the abbreviated BTC in it, HitBTC is actually a multi-currency exchange instead of just a Bitcoin-oriented platform.
• To complete a HitBTC withdrawal, the coin needs to be held on the users trading or main account.
• HitBTC gets a mixed of positive and negative reviews online.

To put it bluntly, HitBTC has one of the best if not the best fee schedule in the industry. Not only do they have the lowest base fee among the large exchanges, but they continue to decrease as you reach higher volumes. With so many different assets, people may begin to question if there is a point at which an exchange has listed too many assets. Without these permissions, many services will not be able to execute your strategy or trade for your account. Select “New API Key”.The next page will show your public and secret API keys. When providing API keys to trading services, it’s likely they will need the permissions for “Order book, History, Trading balance”, “Place/cancel orders”, and “Payment Information”. The UI is a bit outdated, the trading terminal could use some patching up, and the overall feel of the exchange experience is closer to Poloniex than Coinbase Pro.

I bet that the majority of you were looking for a HitBTC exchange review because you wanted to make sure that this platform is legit and suitable for trading. You already know that it’s reliable, however, there are other aspects that matter. If you’re still a newbie in the crypto world and do not know which aspects matter when choosing a crypto exchange platform, I can help you. Let’s move further to find out whether or not the company manages to achieve its main goal and how good the services they provide actually are. Go read the horror stories about their confiscation of funds due to ‘KYC-AML’ even after people provide them with identity documents. HitBTC is widely known for its simple user interface and high-volume trading. It is a place where both newcomers and trading professionals will be able to trade with ease.

While the verified users fall into the category of HitBTC tier fee system that determines the higher trading fees depending on the trading volume carried out in the past 30 days. HitBTC does not offer margin trading natively on the exchange. HitBTC’s website links to Weltrade, a third party trading service provider. Blockfer recommends that users looking to margin trade consider other cryptocurrency exchanges options such as Binance and Huobi Global.

This is some of the most advanced trading technology in the retail trader space. Certain digital assets require more information be inputted when depositing or withdrawing.

The HitBTC price for trading is based on the “maker taker” model. HitBTC trading fees aim to narrow the spread on cryptocurrency markets and increase liquidity. The way the HitBTC trading fees model works is that “makers” add liquidity to the book and “takers” remove liquidity from the book.

The API key and Secret key can be found in the Settings tab. Let’s see what is the difference between takers and makers. It means that at any given moment there should be as many trade orders as possible so that the traders would have a rich choice of options. As soon as someone decides to buy or sell some currency reacting on the existing order, he decreases liquidity because the order disappears. Makers place new orders, they “make” liquidity while takers “take” the liquidity order by order by matching the existing orders.

Author: Felipe Erazo