HitBTC Exchange Review : A Guide to Trading, Security and Fees

That being said, you can credit yourself with a test fund and apply different strategies when trading. As you can see in the picture below, starting from Tier 9, you will be paid 0.01% back of the trade that you make. It doesn’t matter if a platform is easy to use, has low fees and other exceptional features if your account can be hacked at any second, leaving you empty-handed.

Margin trading – For traders who want to leverage their trading, HitBTC offers cryptocurrency margin trading through the MetaTrader 5 Terminal. HitBTC offers a wide variety of currency pairs if you’re looking to trade crypto for crypto. The exchange is also a magnet for many new token offerings.

If Bill on the other hand offers to sell 1 BTC for USD 10,500, he places an order on the order book that does not correspond to an existing order. If someone would have accepted to buy 1 BTC from Bill for USD 10,500, then Bill would have been charged the maker fee and the relevant buyer would have been charged the taker fee. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

• HitBTC has a consumer rating of 4.12 stars from 57 reviews indicating that most customers are generally satisfied with their purchases.
• A quick online search showed a mob of angry customers posing similar reviews about the company.
• BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services.
• Known for its fast order execution, a large selection of assets, and low trading fees, HitBTC has acquired a reputation among institutions and high volume traders.
• Signing up is pretty straightforward, besides I verified my identity and saved myself all the potential hassle.

HitBTC is one of the popular European bitcoin exchange platforms that was founded back in 2013 and started with a 6 million USD Venture Capital investment. Today, I’ll introduce to you HitBTC, one of the better-known crypto exchange platforms where you can buy and sell Bitcoin, Ethereum, Litecoin, EOS and multiple other cryptocurrencies. Cryptocurrency is a highly volatile market sensitive to secondary activity, do your independent research, obtain your own advice, and only invest what you can afford to lose. There are significant risks involved in trading CFDs, stocks, and cryptocurrencies. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider your own circumstances and obtain your own advice before making any investment.

After pressing “Sign Up”, you will need to enter in an email address and create a password. Next, you’ll be asked to provide your country of residence, first and last name, and a telephone number. After solving a captcha, you’ll need to confirm your email address by clicking a link sent via email. To find a reliable exchange where you can start an account, just use ourExchange Filtersand we’ll help you find the right platform for you. If Bill comes along, and sells 1 BTC to Ingvar for USD 10,000, he takes away Ingvar’s order from the order book.

HitBTC Exchange Review – Usability, Look & Feel

We hope this our HitBTC reviews blog will help you choose HitBTC as your crypto exchange. Cryptocurrencies are becoming more popular every day and many are looking for how to exchange fiat money for cryptocurrency. There are many different ways to get your first crypto, but it is most convenient to use exchange platforms. Today we will consider one of these trading platforms, which is named HitBTC.

Later on in this HitBTC review we are going to be looking at how beginners can utilise the support center for trading knowledge. HitBTC provides 2-factor authentication, whitelists and cold storage custody solutions. The account holder can create a whitelist of addresses, ensuring their coins and tokens aren’t available for withdrawal to another address. Cold storage custody is one of the most secure cryptocurrency storage solutions, providing offline storage to users and not leaving the cryptocurrency vulnerable to hackers. Self professed as “the most advanced cryptocurrency exchange”, HitBTC was founded in 2013 and is widely known for providing access to over 800 currency pairs and 500+ spot instruments. This HitBTC review looks at its pros and cons and whether it is worth using.

If you are an ordinary trader and happy with your own experience talk about it and avoid describing the others posting facts as liars and scammers. I don’t believe its a scam but suffer serious deficiency in their level of support and commitment toward traders. It’s better to move your funds to one of the reliable alternative exchanges. You can find a list here or look at the name of exchanges below. Graph displaying the depth of a cryptocurrency pair’s particular market. Select a currency from the chart’s list, and the page will instantly refresh and display information about the chosen trading pair.

Moreover, the AML/KYC rules compliance allows HitBTC to keep working in the countries with strict cryptocurrency regulations. That’s one of the most democratic trading fees policies in the industry, especially among the big players. This option especially can benefit the high-volume traders as the market fluctuations can seriously crop the profits in short periods of time. OTC trading provides an environment for stable prices independent from the trends. The counterparts agree on the price between each other, no matter what the market prices are at that moment. HitBTC LiquidityHitBTC is a high-liquidity platform that provides instant order processing and reduces transaction costs.

Mobile App

Informative official website, quick withdrawals, professional support managers, etc. – All these factors make interaction with the platform comfortable. HitBTC offers a comprehensive and stable crypto exchange that is suitable for intermediate and advanced traders. The best features include a sophisticated platform with 519 listed coins against 10 trading pairs including BTC, USD, ETH, HIT, USDC, DAI, TUSD, EOS, BCH and EURS. The user interface is a little outdated and will take a while for beginners to get used to. Overall, HitBTC is a well-rounded exchange for trading Bitcoin and Ethereum but lacks the modern features and services compared to the top platforms.

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. Trading Platform – HitBTC’s main service is their trading platform. 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. HitBTC’s API is robot-friendly; the trader can use the trading bot. The HitBTC platform is friendly to users who are involved in creating trading bots.

Accordingly, we have marked the exchange as a scam in our database and moved it to ourExchange Graveyard. So, if you’re looking for anonymous trading, you’re looking at the wrong place. We recommend you read the text below to understand why HitBTC has received the inactive flag.

This process needs a secure online portal or ticketing system for uploading such sensitive documents which can be used for identify theft. The Ullus Corporation has managed and operated the HitBTC trading platform since its foundation in 2013. To qualify for HitBTC’s OTC service, you must exchange over USD 100,000 per trade.

How to Register on HitBTC

Once it is completed, BTC will automatically be withdrawn from your wallet, and ETH will automatically be credited. Look at how many coins we have – how much we can buy ETH for. Trading PairThere is the form for selling currency and the form for buying currency, the history of your transactions will be displayed in this window. In front of the desired coin, click on the arrow to transfer money from the “Main Account” to the “Trading Account”. AccountIn front of the selected coin in the “Deposit” column, click on the circle with a plus sign to deposit.

Due to its intuitive interface and simplicity of use, this exchange can be used without problems by experts in the sector as well as by newcomers. If you have traded on any platform you will see that HitBTC is not very different from the rest. The negative point is that of the more than 300 available pairs, many find themselves with very little transaction volume and with projects that are hitbtc crypto exchange review “unreliable” or non-existent. Among the pairs that HitBTC includes we can highlight Bitcoin , Ethereum , EOS, Ripple , DAI, TUSD or Bitcoin Cash . Small commissions are also attracted by the fact that you do not need to go through the procedure of confirming your identity – you can remain an almost anonymous user . As soon as everything set up – click “Buy Limit” – an order is created.

On the contrary, it has a proven track record, operating in the industry for more than six years already. 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.

HitBTC Rating – 4.7

I am still waiting since FEB 2018 for them to process my eth deposit. The positive or neutral reviews here are all fake, and paid for by the scam exchange Hitbtc. HitBTC was something that began as a promising crypto exchange and got lucky with the big crypto wave in 2016 and 2017, but it definitely failed to keep up with the innovation and user demands. They are barely surviving and this can have a major impact on users who are using HitBTC as their crypto exchange.

An extensive knowledgebase comprised of articles about all HitBTC platform features. Graph/timeline displaying the value of one currency against another. Once you reach tier 8, that is trade 50,000 BTC per month or more, HitBTC will start paying you a rebate of -0.01% per every completed trade. Nevertheless, HitBTC exchange is open about its official location.

Now HitBTC users can buy crypto with fiat money via bank transfers and debit/credit cards. The payments are operated with the help of the exchange partners MoonPay and Banxa. According to the HitBTC Terms of Services, US residents are not allowed to trade crypto on the platform due to strict regulations. Therefore, https://forex-reviews.org/ individuals from the United States are strictly prohibited from creating an account and will not be able to open any trades. Users will need to find a top crypto exchange that is licensed by FinCEN. HitBTC exchange has been designed to meet the demands of the most sophisticated and advanced traders.

This page does not provide recommendations and offers for users based in the United Kingdom. In this HitBTC review, this HitBTC how to trade guide details the step by step process on completing a trade. It has been hacked in 2021 where it lost nearly $1 million. There are several users claiming that their HitBTC was hacked but the company remains silent on this issue.

For the beginners, HitBTC exchange offers an opportunity to try and trade cryptocurrencies on its demo platform first. You can register and access the demo platform by clicking the demo option at the bottom of the screen or by simply typing demo.hitbtc.com into your browser. Besides, some customers have complained online that they’ve been unable to withdraw their funds from the trading platform. In this regard, HitBTC withdrawal fees are some of the highest amongst all cryptocurrency exchanges.

Users can speculate on a wide variety of assets, monitor the market, participate in crypto competitors or demo trade. HitBTC lives up to its self-proclaimed mantra of the ‘most advanced Bitcoin exchange’. The platform offers spot, margin and Futures markets to cater to a variety of traders.

Supported Cryptocurrencies

However, for verified users, the fees drop significantly, making HitBTC’s fees absolutely cheapest on the entire market in terms of crypto trading. The HitBTC exchange is available for users across the globe without any restrictions. The HitBTC team designed the platform with different types of users in mind.