HitBTC is a crypto exchange originally from Denmark, which has been operating since 2013. The exchange claims to have a terminal built on the best technology that lets you trade effortlessly on any of the available trading pairs. With respect to trading pairs, HitBTC is one of the exchanges in the world with the largest selection.
Using that, you can experiment with strategies and portfolios. Although HitBTC meets and enforces regulations related to anti-money laundering for those depositing with real world funds, the platform is not regulated by any licensing bodies. This is a major concern, as you are essentially trusting your money with a cryptocurrency exchange that is unregulated. While such a verification process is quite regular to all crypto exchange platforms that take security seriously, it might take a while to provide all the needed information.
Nevertheless, HitBTC exchange is open about its official location. Its official mailing address is Av Vitacura 2969, Las Condes, RegiÃ³n Metropolitana, Chile.
To deposit pre-purchased coins, you must check that the platform supports the coin you want to deposit. Otherwise, you can purchase BTC using your Visa or Mastercard. 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.
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The foundation is the most important aspect of a reliable crypto exchange and that’s something HitBTC is definitely lacking. HitBTC and Bittrex are two of the largest trading platforms on the market. Both have solid reputations and are desirable for currency traders. This review of Bittrex vs. HitBTC will help you decide for yourself. HitBTC has a good reputation as a place for professional traders, but negative reviews abound. Users have complained about everything from support to withdrawal times to lack of location transparency (are they in London or Hong Kong?!).
You can also go to the ‘Markets’ page to view all the latest prices and trading volumes of the last 24 hours for the crypto currencies available. HitBTC’s pairs each Altcoin with USDT , Bitcoin or Ethereum. Also, they have a ticketing system if you want something answered. This system serves as their customer service support platform.
Despite the well publicized hack, the company takes security seriously. This major platform offers everything that HitBTC has and beyond. Margin trading, margin funding, and a suite of order types all appeal to experienced traders.
It has many currency options and very low fees that compete with anyone on the market. I think the extensive verification process, solid reputation, advanced security measures, and increasing trade volume all answer the question “is HitBTC a scam? Setting up an account is a breeze and verification isn’t necessary for small amounts. However, if you wish to increase your limits and access fiat currency, you need to take things a step further. This European-based exchange is a favorite among professional traders. Its vast instruments, extremely low fees (.1%!), in-depth interface, and anonymous trading make it an attractive exchange for seasoned traders.
HitBTC Review (
The vast amount of different cryptocurrencies available, in addition to the many trading pair offered make HitBTC a possible worthwhile exchange. This is somewhat of an oasis of alternative tokens that should fit anyone’s needs. The fact that HitBTC has implemented 5 different limit order types gives the customer plenty of options to best suit their needs. The system monitor is also a neat feature to allow users to see the total amount of transactions happening across the exchange at any given time.
- After email verification in the signup process, users can increase the limit by completing the verification process.
- To begin trading, you need to first make a deposit into your account.
- Josh has a bachelor’s degree in political science from the University of Georgia.
- It requires the use of the demo API keys and allows the practical learning of the use of the RESTful API.
- You will only need to verify your identity at HitBTC if you want to deposit and withdraw funds using a bank wire.
Recently , HitBTC released a demo version of their platform. Using a demo account, users can try their hand at trading without risking any financial investment. They can trade simulated funds in order to get a feel for trading and educate themselves. At the same time, all the market data in the demo is the same real-time data from the real HitBTC exchange. Trading can be done manually or via the API – the test mode is as responsive as the regular exchange platform. Moving on in our HitBTC review, let’s look at some of the trading fees.
The most advanced Bitcoin exchange
HitBTC works 24/7 and hosts hundreds of trading instruments including Bitcoin, Ethereum, and all the top altcoins; there are 1070 trading pairs available on HitBTC. By this measure, HitBTC holds the fourth position on the entire market. HitBTC was hacked in early 2016, which raises a finger over their security features, and the future possibility of an attack. This is a reason we would advise not to use HitBTC as a wallet, but just as an exchange.
2-factor authentication, advanced encryption technology, cold storage – we give you peace of mind when it comes to security. It has no mobile app, although it does offer third-party APIs for mobile phones, a dedicated app would be better! This means that you can only access through a web browser on your phone, which frankly we would advise against or via a computer, this all means that you can’t trade on the go. For a beginner, we would not advise trading on the go but experts will want this functionality. The interface might be good for expert traders, but it is not meant for newbies or first-timers. They will find it extremely confusing and might even experience a loss if not used properly.
If the whitelist is enabled, you will only be able to withdraw cryptocurrency to whitelisted addresses. This prevents a hacker from adding new addresses https://forex-review.net/ to your account for 48 hours after they gain access. If you go through the password recovery process, there will also be a 48-hour lock on withdrawals.
It was started with the goal of creating an advanced trading platform for professional traders. I can totally agree that HitBTC has a nice interface for both newbs and pros and that’s the one of many reasons I’ve chosen it to get into a crypto in the first place. The fees are good too, so far in comparison to three other exchanges I use they all are practically the same so the transactions processing time is mostly similar too. HitBTC uses a taker/maker trading fee system and a range of deposit and withdrawal fees. Takers, those who remove liquidity from the market, are charged a flat fee of .1% for every transaction.
How to open support ticket HitBTC?
And just in case someone else happens to be logged into their account, they can click a button that terminates all sessions except theirs. At the same time, they can also choose to automatically log out of all sessions at a selected, regular interval. Here is how the lowest tier HitBTC fees fare with other popular cryptocurrency trading exchanges. All in all, these features make HitBTC one of the top altcoin exchanges in terms of available markets and liquidity.
HitBTC Review 2022: Started Strong, But A Risky Crypto Exchange Today
Just remember the golden rule – never trade more money than you can afford to lose, and go with your gut feelings. Extensive knowledgeable articles about HitBTC platform features and how users can make a profit by using them. Once a user reacher at tier 8 with 50,000 BTC per month or more, this platform pays a rebate of -0.01% per trade to the hitbtc exchange review users. On the top right-hand side of their home will be the “Sign up” button. Therefore, it should act as a significant red flag, as it would be difficult to locate them if, for any reason, something happens to the funds. HitBTC has around six million venture capital investments in Hong Kong, but it focuses more on the European crypto markets.