However, upon further analysis, we cannot endorse HitBTC as a credible exchange. HitBTC is an exchange for the experienced cryptocurrency trader interested in trading altcoins. HitBTC supports deposit in all of the major cryptocurrencies .
OTC traders happen due to the result of the partnership with TrustedVolumes. To use this feature, users must exchange over 100,000 USD per trade, and each trade will incur a 0.1% transaction fee. Please note that the verified users on HitBTC fall into their tier fee system. According to the tier fee system, the fee is determined based on the user’s trading volume during the past 30 days. 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.
HitBTC did not cover themselves in glory as they refused to provide any information about the incident. Many users complained of their coins being ‘lost’ on the platform, as https://forex-review.net/ 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.
If you have ever used a cryptocurrency exchange before, then HitBTC works in exactly the same way. The company operates as a third-party middleman between buyers and sellers, making a profit in trading fees along the way. All you need to do to get started is register a Bitcoin account, deposit some funds, and then proceed with your cryptocurrency purchase. If you then plan on keeping hold of your coins long-term, you should consider withdrawing them to private Bitcoin wallet , as opposed to keeping them in your online HitBTC wallet.
Nevertheless, on this platform, users can deposit funds using real-world money through direct bank transfers. It does not support debit/credit cards and e-wallets. The MSP of Hitbtc is its highly competitive fees, as hitbtc exchange review it offers the lowest prices in the crypto market. More information about HitBTC exchange can be found athitbtc.com HitBTC is a Europe-based cryptocurrencies trading platform that offers high liquidity in the market.
When it comes to cryptocurrency deposits and withdrawals, they are as straightforward as it gets. All you need to do is navigate to the â€œAccountâ€ tab and select the cryptocurrency of your choice. For one, it lets users set up two-factor authentication for all their transactions, adding an extra layer of safety. And just in case someone else happens to be logged into their account, they can click a button that terminates all sessions except theirs.
No doubt in my mind, those coins go directly to the pockets of HitBTC operators. No doubt, the operators view this mechanism as a revenue generation tool, meaning they are purposefully using it to make money. Sent them my ID and my selfie, took a good six days, watching my shitcoin pull a 70%. Finally got the email back that they’re no longer servicing US customers, and that I had 14 days to get my funds out before they just…
This review aims to make it easy for the user to decide which crypto-exchange they would prefer to use. HitBTC is an intuitive and reliable exchange, allowing users to trade some of cryptocurrency’s most popular assets. You can either deposit funds in fiat money or directly in cryptocurrencies. To do so, click the icon on the top right corner, select “Deposit” and follow the instructions. They make their money by putting endless obstacles between you and your funds, so that eventually you give up.
They know that for small amounts, a lot of people give up right here. They’ll act like they’re trying to help you, but really their entire business model revolves around wearing you out. They get a good amount of crypto to keep just from people not being able to complete the 2 FA recovery. I have been sending support tickets on a regular basis. I’m now talking with a lawyer to try and get somewhere.
- Like many other exchanges, HitBTC does not accept US-investors on its platform.
- 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.
- Traders have the opportunity to add a new currency to the exchange if two users take Market Makers contracts to support the cryptocurrency on HitBTC.
It is a secure platform that has never been hacked till now. Charts Explore more data on the digital asset markets with comprehensive graphs. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. After signing up, you may also receive occasional special offers from us via email.
HitBTC Review: Final Thoughts
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 new to Binance, we have great news – you can now earn up to $600 in rewards on qualified deposits and trades. Note that the content on this site should not be considered investment advice.
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 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.
This fee is in line with the historic industry average (the historic industry average is arguably around 0.25%). However, we now see more and more exchanges charging much lower trading fees, many ranging from 0.10% to 0.15%. The Demo option is available at the bottom of the screen, or you can directly click here to enter the demo. Please note that users have to create a separate account for the demo platform. In this program, you will receive around 4000 USDT worth of cryptocurrency. Using that, you can experiment with strategies and portfolios.
We have compiled a list of supported coins now available on HitBTC, which you’ll find below. Besides, some customers have complained online that theyâ€™ve been unable to withdraw their funds from the trading platform. HitBTC was the first on the market to offer automated and algo traders reliable and fast REST, WebSocket and FIX API.
Now, while such accusations cannot be substantiated with any certainty, if the general consensus is that HitBTC has suffered multiple hacking attempts, then it is likely to be true. As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase. The traded price of digital tokens can fluctuate greatly within a short period of time. To qualify for HitBTCâ€™s OTC service, you must exchange over USD 100,000 per trade. Graph displaying the depth of a particular market for a cryptocurrency pair. Once you sign up, youâ€™ll see that HitBTC forces you to active 2FA measures on your account.