HitBTC Exchange Review
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HitBTC has over 800 trading pairs available, including Bitcoin, Ripple, Ethereum, Stellar, etc. Users can choose between crypto-to-fiat and crypto-to-crypto currency pairs. The HitBTC website features fundamental information and trading charts, along with the trading volume of each cryptocurrency. It also provides data on the exchange rate, market price changes, buy or sell offers, etc. There is a ticket system that allows users to file a help request but it has the same reported response times as through email.
By clicking on it, you will enter into the main trading area. The page can look intimidating for users who have never done trading. Either enter the name of your coin on the right-hand side or scroll through the list and select the coin you want to buy. Today we will review HitBTC, a cryptocurrency exchange that offers high liquidity and access to the largest cryptocurrency collection in the industry. Discover the origin of decentralized finance, blockchain technology, and cryptocurrency with our articles What Is DeFi, How to Buy Cryptocurrency, and more.
HitBTC exchange does not ask for any verification as a part of the KYC process. HitBTC website’s main page offers several basic information and displays trading charts accompanied by various cryptocurrency trading volumes. Aside from trading volume, it contains information like exchange rate, changes in the latest market price, offer to buy or sell, trading volume for 24 hours, and several more.
HitBTC Review and Comparison
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In this post I will review the company, its services and share some of my personal experience with them. Nevertheless, on this platform, users can deposit funds using real-world money through direct bank transfers. The MSP of Hitbtc is its highly competitive fees, as it offers the lowest prices in the crypto market. In addition to trading cryptocurrencies, tokens, and ICOs, HitBTC offers marketplaces for fiat trading, with USD and EUR trading pairs. HitBTC is a platform where both newbies and experienced traders can trade with ease. It was designed using cutting-edge technologies to deliver quick, secure, and dependable service.
It has a mobile app for both Android and iOS versions of smartphones. It is a secure platform that has never been hacked till now. Trades can also be pleased to learn that the HitBTC mobile app for iOS and Android devices is now available. The app is available on both the Google Play Store and the Apple Store.
Once you’ve agreed to all terms and conditions your hitbtc exchange review is active and ready to go. While you can simply fund your account and start trading at this point, we highly recommend you set up two-factor authentication before you do. HitBTC has also implemented Over the Counter trading to try and entice institutional and other large-volume investors to the platform. OTC trading only allows the use of the standard .1% fee and requires a minimum volume per trade of $100,000. HitBTC only charges a fee for deposits of Bitcoin, .0006 BTC per deposit. This is a flat transaction fee and doesn’t change based on the amount deposited.
If you attempt to deposit less than this amount the deposit will fail. Unlike many other large exchanges, HitBTC doesn’t have a standardized ID verification process in place. Most exchanges require a set of forms and the submission of an ID photo to an automated verification that takes a week at most. HitBTC requires you to begin a slow and haphazard process through email.
HitBTC Demo Trading
However, if you’re a retail trader, whose monthly trading volume would probably be no more than 10 BTC, you definitely need an exchange with a better fee schedule and lower fees. HitBTC offers a complex but informative interface for seasoned traders and those who are looking for a platform where they can trade smoothly. It might not resonate well with newcomers and first-time investors, but the interface is welcoming for the experienced. Detailed charting is provided by their special ‘Trading View’, and a pop-up feature is available for in-depth chart analysis. The instrument list is placed next to the pop-up and is divided into four major categories. There is a news section that may come in handy when major news is breaking, you will quickly be alerted to it.
For instance, on dYdX, users don’t have to pay miner fees while depositing. More than that, layer 2 solutions allow nearly instant withdrawals, improved security and privacy, and cross-margining. Transactions get confirmed on blockchain hours after execution. HitBTC is a cryptocurrency exchange established in late 2013 which is famous for its wide variety of coin listings and advanced trading features.
HitBTC ReviewHitBTC is a crypto exchange originally from Denmark, which has been operating since 2013. Like we said earlier, HitBTC is far from the only cryptocurrency exchange to go south, often resulting in the loss of user funds. Wouldn’t crypto exchanges want to keep their service quality high in order to get more business?
HitBTC API
https://forex-reviews.org/ assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
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. If the user wants to deposit funds to their HitBTC account, they should first generate a wallet address.
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Overall, there are too many ‘red flags’ based on feedback from their users. As such, we would recommend using another trading platform until these issues are resolved. HitBTC is a crypto-to-crypto exchange that can be funded through a 3rd party service using traditional fiat money.
If users want to trade with HitBTC, they can get a combination of crypto-to-fiat and crypto-to-crypto currency pairs. This exchange offers various digital currencies that include some of the most popular and leading cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, Monero, etc. HitBTC provides enough measures to maintain funds and data safety. However, HitBTC users shouldn’t take the security of their accounts for granted. As soon as the strong password is set and the account is created, it’s important to enable 2-factor authentication. This protection measure can be turned on via the Google Authenticator app or a similar authentication application.
- DYDX is a native token of the decentralized derivatives exchange called dYdX.
- HitBTC trading fees are low when compared with the trading fees of other exchanges.
- The BTC/USD and ETH/USD trading pairs have the highest daily volume of 2.2 million within the last 24 hours which accounts for about 53% of all the trading activity on HitBTC.
- Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
- They refuse to even provide a secure way of sending them the requested documents.
No restrictions – Approval authorized by FCA means that there are no restrictions on deposits or withdrawals. HitBTC takes first place in the global cryptocurrency market in terms of liquidity . Yet despite its appeal as a secure technology, HitBTC remains an unregulated exchange at the forefront of the crypto wild west, which raises questions and adds risks to its reliability. As such, it has never been hacked before, or at least haven’t disclosed any such incidents. Some sources claim that HitBTC was hacked in early 2015 together with BTER and Excoin exchanges, though the information hasn’t been confirmed. In recent years, HitBTC has become a top exchange in terms of market liquidity, competing with such exchanges like Bitfinex and Binance.
Personally, I would choose Binance since I value reputation more than anything, however it really depends on your needs. Fees can vary from 0.25% to -0.01% for extremely large orders . It seems a bit odd to me that a company knows there is a technical issue on their side and instead of immediately reimbursing my balance, they just keep me waiting with no access to my funds. I haven’t actively used it for trading until the Bitcoin Cash and Bitcoin Gold forks came about. Whenever I claimed a new coin from one of these Bitcoin forks, I would immediately sell it on HitBTC. Binance Exchange World’s largest Bitcoin and altcoin exchange.
In that box you can see the list of last purchases and sales , on the right there is a graph that shows the purchase and sale orders of the desired cryptocurrency. There is also a direct access to the deposit section and account settings. There is also a button to close the account and disconnect from the platform. The lack of transparency has made HitBTC a scapegoat for the crypto community, causing a lot of red flags for investors.
In this case, the fees are set by payment providers — MoonPay and Banxa. At the moment, in the ranking of trading floors with the largest daily trading volume, HitBTC is among the top 50 best exchanges. The total trading volume of the exchange for 24 hours is over $3 billion.
