hitbtc review

There are no maximum deposit or withdrawal limits mentioned on the HitBTC website. In terms of trading fees, market takers are charged a very competitive 0.1% fee while market makers actually receive a 0.01% rebate. Unfortunately, there’s limited information available about the team behind the platform and where it is based. The HitBTC website lists a representative office in Chile and a mailing address in Hong Kong, but few other details.

Since cryptocurrency popularity is growing you can find such a variety of platforms that allow you to buy, sell and trade cryptocurrencies. While having more options is a good thing, you might also encounter some issues when choosing a cryptocurrency trading platform for your needs. Another unique feature of HitBTC is that it allows demo trading, which is extremely rare in the world of cryptocurrency exchanges. Most exchanges, when asked about demo trading, simply tell you to make minimum trades of $1 and treat that as your demo. 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. Suppose the user wants to trade Bitcoin or other cryptocurrencies.

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Complete the ID verification process and don’t forget to enable 2-factor authentication before you start trading. HitBTC began operations in 2013 and at the time, was one of the few exchanges available for trading crypto assets. Over the past few years, the reputation of the exchange has declined considerably due to numerous reports of stolen funds, account freezes, legal battles, and more.

One cannot deposit any money before providing the requested personal data. Often it’s some mix of positive and negative information about the exchange. Using the “Search” field that you’ll find at the top of the page find the cryptocurrency and click the “Deposit” column. The Demo account is suitable for beginners who want to have a real-time experience in trading. That being said, you can credit yourself with a test fund and apply different strategies when trading. 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.

About Hitbtc

Aside from Bitcoin, they can trade with some major cryptocurrencies like Ripple, Ethereum, Stellar, etc. Also, the user has the option to access altcoins that can develop in the future.

Last year, Coinbase had its own major scandal involving insider trading. Just because one or two employees do something bad, doesn’t mean that a company is corrupt from top to bottom. But a company must act fast and fiercely to rid itself of fraudsters, actions HitBTC has not seemed to take part in. Choose your favourite crypto coin and select a “Instant/Market Order” to buy it instantly. After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. You just need to enter your email, put a strong password in and you will get a verification code or link sent to your email within seconds.

Hitbtc Customer Service

Margin trading, margin funding, and a suite of order types all appeal to experienced traders. 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. As per our HitBTC review, if the user wants to trade cryptocurrencies, HitBTC charges a simple fee structure. However, there is no deposit fee for using cryptocurrency; it charges withdrawal fees for placing orders or withdrawing more money from the platform.

While some platforms support up to 10 cryptocurrencies, others can support hundreds and even more. Needless to say, the more options you get, the better it is. Although I have sent my account information exactly 8 times. The problem with hitbtc are the withdraw fees, to withdraw utrust tokens I need to pay 100$ in fees. HitBTC markets are available to most countries and jurisdictions across the world, however there are some exceptions.

Other Exchanges

HitBTC has high-volume trading in the crypto industry, and the trades are executed within a few seconds. One example of an exchange that drastically improved their user experience was Kraken. With recent updates to Kraken’s user experience, it has completely turned around the way users think about the exchange.

How long does it take to verify HitBTC?

It might take from 3 to 5 business days to get your account verified, if no additional information is required.

Compared to most other exchanges, the price chart interface is quite similar. The biggest difference between HitBTC and other exchanges is the way in which funds are categorized on the “account” tab. This is because HitBTC gives each user two accounts , which both have different functionalities. Another high profile cryptocurrency user who has taken issue with HitBTC is John McAfee. However, his criticisms were more to do with the large minimum buy in which could restrict the ability for poor investors to place funds on the exchange and buy coins. OTC trading allows users to perform high-volume trades without going through the public order books. It means that you make your deal directly with the counterparty without affecting the market price of the coin or token.

Hitbtc Exchange Overview

If you fail to do that, you will have to ask for the help of HitBTC support team to finish funding your account. BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services. Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. Read fact-based BitDegree crypto reviews, tutorials & comparisons – make an informed decision by choosing only the most secure & trustful crypto companies.

HitBTC supports two-factor authentication for user’s accounts to add an extra layer of security. The security section in the “Setting” menu also allows users to check all the logins of their accounts. They should look for the IP address or location they don’t recognize. Just in case there’s an IP address that the user doesn’t recognize, they terminate all the sessions with one click. They also have options that let them automatically log out of all the sessions at a regular period. Provide your email address and create a password to sign up.

The positive or neutral reviews here are all fake, and paid for by the scam exchange Hitbtc. The exchange is good, but couple of times my transactions stuck. It was November-December 2017, users’ overload, Bitcoin $20000, etc. It took a while for them to answer, though everything was solved later… My advice is to have enough patience in case the support is too busy answering other questions.

  • It’s not just a case of the exchange malfunctioning and breaking down.
  • It also offers a robust toolset designed to meet the needs of advanced traders.
  • As such, you should not attempt to use the app until the exchange announces its official launch date.
  • On the other hand, Streaming API allows you to access market data and trading operations and socket.io is a protocol that allows you to receive market data.
  • Now, don’t forget to transfer your funds from your main account into your trading account before you can start trading.
  • As per several HitBTC reviews, registering an account with HitBTC is simple and easy, and here are the steps to register on this platform.

Each HitBTC trading pair has a lot, which is the minimum value you must deposit or withdraw. For Bitcoin, it is 0.01BTC and this is the minimum that can be bought or sold. As there is no HitBTC withdrawal limit, clients can withdraw as much profit as they desire. However in the past, it’s been criticised for lengthy withdrawal times due to technical maintenance issues, which has left clients feeling frustrated.

I’d like to begin this review with some basic facts about HitBTC. The exchange was founded in 2013 which makes it one of the oldest cryptocurrency exchanges on the market. Together with several other old-school projects, HitBTC team has created a basis for the modern crypto-to-crypto exchanges as we know them today.

hitbtc review

The history of trades is available in the “My Orders and Trades” box. If you proceed to “Reports” and then click on “My Orders”, you will get into the section where you can see the cross-market trades and manage your orders . There are different opinions on the location of HitBTC headquarters. In the ‘Contact’ section of the HitBTC website, the company specifies two addresses . Nevertheless, some sources name Denmark and Estonia as the residence of HitBTC. On the Privacy Policy page from the HitBTC website, the company indicates one of its addresses in Seychelles. As you can see it’s quite hard to figure out what’s the exact location of the company’s headquarters.

Free Bitcoin Crash Course

Maintenance Issues – It is common for HitBTC to perform system maintenance on crypto asset wallets, causing deposit and withdrawal shutdowns for extended periods of time. Users couldn’t complete any operations with Metaverse ETP funds. By not allowing users to control their own funds and shutting down/freezing certain coins, HitBTC runs the risk of creating continuous issues for some traders. First up in our HitBTC review, we examine the user interface.

HitBTC Review 2021: Fees, Features & More! – CryptoNewsZ

HitBTC Review 2021: Fees, Features & More!.

Posted: Wed, 21 Jul 2021 09:14:09 GMT [source]

This platform offers its services globally without any restrictions. After evaluating the HitBTC APIs and trading features, it certainly has the feel of an institutional trading platform. For these reasons, we stand beside their statement that HitBTC is the most advanced cryptocurrency exchange for these specific aspects. All-in-all, it’s not bad that HitBTC wants to support a variety of assets hitbtc review that may not be offered on other exchanges. However, it might be time to clean up some of the trading pairs to reduce confusion and improve the trading experience for novice traders. Now, don’t forget to transfer your funds from your main account into your trading account before you can start trading. Otherwise, trading services may not be able to execute trades for your portfolio.

Dodo Exchange Review: Is It Safe Or Legit?

For those cryptocurrency traders who used to trade Forex and stocks, they may have come across the MetaTrader4 software suite. This is some of the most advanced trading technology in the retail trader space.

hitbtc review

Moving on in our HitBTC review, let’s look at some of the trading fees. 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. 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.

  • However, there are a certain number of complaints about users being hacked.
  • HitBTC has some of the most in-depth and trader-friendly features on the market.
  • “The world’s largest and most advanced cryptocurrency trading platform” —or so they say.
  • The platform supplies advanced trading feature, a relatively sleek UI and a demo mode for people who aren’t ready to risk real money trading Bitcoin just yet.
  • A HitBTC exchange review also shows that they have pretty much from the beginning been open to the idea of altcoins being added and community involvement in the process.

Author: Romain Dillet