They do have an exchange and are quite active on social media. This is a good step but not good enough for a faster-growing crypto industry. While all exchanges are focusing on providing superior support, HitBTC seems to be lacking on that. For many currencies, HitBTC added a rule for many coins to be traded in the divisible of 10 or 100.
Go to your account page and use the green deposit button to begin the process. Using the search bar, find your cryptocurrency and click on ‘create new’. Copy your address to use it to initiate a transaction on the platform where your money is held. For some coins, you may need to use an additional payment ID to kickstart the transaction.
HitBTC Security Measures: Is HitBTC Safe?
Every time when I initiate a withdrawal, I get hit with some ridiculous fee. I initially reviewed HitBTC back in 2014 when I just started out 99Bitcoins. HitBTC does not ask for KYC procedures from every trader, but it will ask the traders to read their terms and conditions before using their platform. Overall, HitBTC is a secure exchange in terms of technology it uses to protect your funds. However, the exchange lacks transparency when it comes to its team and location, which is a major red flag for some.
Each user’s volume will be calculated according to the total amount traded equivalent to BTC at the time of the trade. However, the HitBTC token value in relation to Bitcoin has been in a decline. Therefore, the benefit of holding HIT coins to acquire the trading fee discount is currently not worth it as the investor will be losing value in BTC. While the token price is appreciating in terms of USD, the discounts are based on Bitcoin trading volume over 30 days, not USD.
Best Cryptocurrency Exchanges to Buy Any Cryptocurrency
During its design phase, a lot of emphasis was on its interfaces’ simplicity and ease of use. As a result, one of the most important features of this exchange is it offers different types of accounts for different types of traders to match their trading styles. In our HitBTC review, we will discuss features offered by the exchange. Nevertheless, the Kraken exchange in any review appears as an exchange that is difficult for beginners, unlike HitBTC.
- The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
- But have in mind that if you’re looking for specific features, these evaluation points might be less important to you than others.
- Of course, I mentioned security not by chance, because I have been using it for many years and I haven’t had any problems with my account.
- If they are depositing using cryptocurrencies, the user need not verify their identity, and it takes not more than 20 minutes for the funds to show up in their account.
There is no formal disclosure of company employees’ strengths and other details. One of the biggest issues with HitBTC is that we don’t know where the company behind the exchange is located and who runs it. There is conflicting information online claiming it is either in the UK, Estonia, Hong Kong, or Panama. The website doesn’t explicitly answer this, but it says the company was founded with a 6 million Euro venture capital investment. That’s not to say their entire exchange is the most advanced. We know there is a lot of potential behind HitBTC, so we hope to see some exciting news in the coming years with UI updates.
HitBTC does not hide the fact that in some cases, customers are required to provide their personal information. No one can use HitBTC until they confirm that they have read the terms and conditions, which contains a list of documents that the company can request from the user. AML/KYC rules help the public to identify harmful financial activities, and agreeing to use a KYC-compliant exchange is a small contribution to the safety of the global financial community.
In some cases, this means that HitBTC users must verify their identity and provide proof that they received their assets legally. Also, a big advantage for advanced traders is the API for using bots, which helps to trade cryptocurrency automatically. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. After account verification, you will be upgraded to Trader status, giving you an instant reduction to 0.09% for both maker and taker fees. If you trade between 10 and 100 BTC a month, fees are reduced to 0.07% for maker orders and 0.08% for taker orders.
New traders can try demo trading with this platform using this demo account without making any HitBTC deposit. HitBTC offers a robust and friendly API, and the traders can use their cryptocurrency trading bot that works well with the platform API. According to several reviews, this platform offers low trading fees; the Maker fee is 0.1%, and the taker fees are 0.25%. hitbtc crypto exchange review For the inexperienced cryptocurrency buyer or trader, navigating the HitBTC website is, at first, a dizzying experience. Much of this initial complexity comes from how HitBTC is focused more on the experienced trader than on people new to cryptocurrency. As such, more experienced retail traders and professionals should not have issues with the exchange’s interface.
By going onto your account settings and the KYC tab, you can verify your account – you’ll need to upload various photos and documents to confirm your address and other details. There should be a button to ‘request verification’ once you have filled in the KYC details. Deposit and withdrawal credit times vary from time to time, dependent on the coin. Also dependent on the coin, the HitBTC minimum deposit and withdrawal amount varies. Each HitBTC trading pair has a lot, which is the minimum value you must deposit or withdraw.
The reason why they’re so secure is because your private keys are stored offline. This is one of the most common security features when it comes to top-tier crypto exchanges. This is one of the best security features when it comes to HitBTC exchange. You can whitelist the addresses to which your funds can be withdrawn. This means that even if your account and email are compromised, you stay protected.
HitBTC scams started featuring in HitBTC reviews, but the issue was found to be caused by technical issues and has since been resolved. Aside from this minor event, HitBTC has not faced any major security issues. There are many users of HitBTC complaining that their money was stolen from their accounts. The company is silent on this issue and it seems suspicious to the majority of the users. For a cryptocurrency exchange, online reputation is very important. However, the company has a negative cloud around it in terms of its online reputation.
Built-in market data such as trade history logs and charting … HitBTC has a mobile app for Android devices which can be downloaded through the Google Play store. It has mixed reviews but for the most part it seems to get the job done as far as making trades on the go is concerned. You may not be able to access certain features, like deposit address creation, but placing orders seems perfectly doable.
HitBTC has 485 different digital coins and tokens available for trading with pairings in BTC, ETH and USDT. The unique trait about this exchange is that some coin pairings are only offered with BTC or with ETH. For example, Rivetz only trades with BTC and Origin https://forex-reviews.org/ Trails with ETH. This puts certain limitations as investors and traders have to both have BTC and ETH to fully utilize the trade pairings. If you want to make sure that coins can only be withdrawn from your account to certain addresses, you can enter them here.
Overall, HitBTC reviews show it seems to be deemed as a ‘mid-level’ exchange, with pros and cons. It is trusted by clients but could also benefit from improvements to increase client satisfaction, including adding a live chat customer service feature. Three years ago, HitBTC futures trading became available on the platform, allowing an enhanced customer offering.
Concluding this section of this HitBTC review, HitBTC has been given mixed reviews from real users and the general consensus seems to be that it’s not made for beginners. Due to the detailed nature of the platform, it’s more suited to experienced traders who are comfortable with terminology, charts and trading. This is made further apparent by the lack of a real time customer support system, which is a feature of other exchanges.
In the chart, the users should choose a currency they want to trade from the list. As soon as they choose the currency, the page refreshes automatically and shows the information about the selected trading pair. HitBTC offers numerous trading pairs for trading crypto on HitBTC with leverage. As per our HitBTC exchange review, the first step is to select a trading pair. To do this, the user should select the main currency, which is available in the chart’s header, along with the choice of trading pair.
The main company’s goal is to introduce crypto traders to the most advanced technologies. HitBTC is a well-known and secure cryptocurrency exchange with the most diverse cryptocurrency market selections and excellent exchange rates. The exchange is relatively simple to use; however, it’s best suited to more experienced traders. Regarding cryptocurrency deposits and withdrawals, HitBTC charges no fees for deposits. However, withdrawals are subject to flat fees, which can be particularly costly for some newly listed cryptocurrencies. The next step is to fund your trading account through the various payment methods provided by HitBTC.
HitBTC Customer Support
What I like the most is that the procedure for withdrawing coins from the account is for the most part easy. This was facilitated by the fact that Hitbtc was the first exchange from where I freely transferred cryptocurrencies to my third-party wallets. They offer coins on good terms and overall their service is quite good. Signing up is pretty straightforward, besides I verified my identity and saved myself all the potential hassle. It is commendable that the service is designed simply and clearly, it is very convenient to track everything through your personal account.
The developers of the website took care of their users, who can trade both day and night, so they developed two types of design – day and night. The most basic type of order where you enter the amount of coins you wish to purchase and the order is filled at the best available price. The verification process can take anywhere from 1 – 3 business days, and may take longer under certain circumstances. Claim your listing for free to respond to reviews, update your profile and manage your listing. I had an horrible experience with HitBTC while making use of their services, i was down almost 17k because of them.