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. Now that you have created your HitBTC account, you will now need to deposit some funds.
Once you choose to sign up to the affiliate program you will receive a custom link that will be used to track your referrals. You cannot withdraw or deposit ICO coins before the company issues the real tokens. Once they are issued, the IOU’s are converted to real tokens that can be withdrawn or deposited. An added security feature is the option to whitelist a range of addresses that you trust in order to prevent anyone else withdrawing to an address that is not in your control.
You can also visit the “Reports” page, and click on ‘my orders’. To withdraw funds, simply click on the icon in the withdraw row of any Coin you wish to withdraw. Of course, this depends on how secure you feel about providing HitBTC with your personal documents. HitBTC claims that they keep all client material confidential and they have not suffered a hack as of yet. When you place an order that doesn’t fill immediately , you are a “maker,” who is providing liquidity to the order book, and you pay a reduced “maker” fee for this. HitBTC did experience a hack in 2015, but have been mostly secure ever since.
It is time for HitBTC to consider delisting some of the assets which have stagnated. They neither provide value for the exchange, nor the users who are building portfolios and becoming confused by the different unknown cryptocurrencies. HitBTC has one of the largest selection of cryptocurrencies with 887 live trading pairs on the exchange. In addition to the large selection of assets, they also support a healthy number of quote currencies that can be used for routing orders, executing arbitrage, and more. The APIs provide a way for developers to execute high frequency, algorithmic, and real-time trading strategies. HitBTC and Bittrex are two of the largest trading platforms on the market.
Coins that you own have to be sent to the correct address if you hope to keep them safe and secure. If you miss one letter when you’re sending your coins from exchange to wallet, your coins will likely be lost forever.
On the top right-hand side of their home will be the “Sign up” button. This section is a step-by-step guide to register, deposit funds, and make your first trade. You will only need to verify your identity at HitBTC if you want to deposit and withdraw funds using a bank wire.
Then enter your personal information and user id after which you can reset your password. It was here that I bought my first BTCs before the price skyrocketed. Despite this, I easily transferred them to my wallet and now I’m the BTC holder. One of the cheapest exchanges and certainly the best for me. In general, these two problems are the worst issues of HitBTC. Please note that if you face any of these problems it doesn’t mean that the exchange is a scam and most likely all of your problems will be solved after a while. The Exchange tab also provides a look into the current market state and allows you to see the latest sales made on HitBTC, the order book, and other information.
HitBTC is a cryptocurrency exchange that was founded in 2013 and officially launched in February 2014. A HitBTC exchange review shows that during the early days, they offered trading in only a few currency pairs. Today the picture looks much different with them offering trading in over 300 currency pairs across 775 active markets. The site is among the top 30 cryptocurrency exchanges, remaining incredibly competitive.
These days, when Bitcoin and most cryptocurrencies have finally recovered from the bearish 2018, people should learn about HitBTC new policies and its current pros and cons. It’s important to point out that there is no financial service in the world which is completely trustworthy. As years go by, even the best banks and financial services get old, corrupted, or irrelevant. It’s up to the consumer to manage their funds carefully, even when using financial services like HitBTC and other crypto exchanges. The first way to stay safe is to read reviews from diverse sources. Don’t just read large reviews from popular websites, as these reviews might be bought and paid for, with the writer having to say certain things to please the paying advertisers. In addition, look at forums like Reddit and Bitcointalk, to find out what real people are saying about services like HitBTC.
Overall, HitBTC reviews show it seems to be deemed as a ‘mid-level’ exchange, with pros and cons. It is trusted by clients but could also benefit from improvements to increase client satisfaction, including adding a live chat customer service feature. Three years ago, HitBTC futures trading became available on the platform, allowing an enhanced customer offering. HitBTC cryptocurrency exchange was hitbtc review established in 2013; it permits the users to trade crypto along with numerous cryptocurrency pairs. HitBTC offers multi-currency support, and it has several million active users trading on its platform. HitBTC digital currency exchange interface is available in English, Korean, Chinese, Portuguese, and Spanish. This exchange was launched to support users who would like to trade cryptocurrencies.
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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.
- HitBTC exchange offers an affiliate program where the traders can earn through referrals.
- On the top left side of the page, you will find an “Exchange” button.
- Once your deposited funds show up in your HitBTC account, you can then make your first trade.
- In the ‘Contact’ section of the HitBTC website, the company specifies two addresses .
The very first aspect that multiple HitBTC reviews distinguished is the fact that this crypto exchange has poor customer support. The system will be calculating your trading volume for the last 30 days and determine the fee rate for your account every day. Now, when it comes to trading, one of the aspects that might influence your decisions on which of the platforms to choose is trading fees. If you’re into daily trading this is especially important to you. As you can see, HitBTC exchange is truly extensive and provides you with the ability to trade multiple cryptocurrencies, even less popular altcoins.
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The funds must be transferred into your main or trading account. Simply click on withdraw and enter the amount you’d like to withdraw. There must only be eight digits after the decimal point, otherwise withdrawals won’t be processed. Choose your destination address and enter it into the address field – this transaction cannot be reversed so make sure you have the correct address. Some coins may need a payment ID to withdraw – if this isn’t needed then that field can be left blank. Click on the ‘confirm withdrawal’ payment and wait for a confirmation email to arrive in your inbox. By following the link in the email, your withdrawal will be processed.
Is HitBTC a wallet?
HitBTC is a custodial wallet, which means that even if a user loses access to their phone, the funds can be easily restored.
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 for experts, they 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.
Services Offered By Hitbtc
T&C’s apply to each of the offers above, click “Visit Site” for more details. It’s safe to assume that the platform is therefore unregulated, so anyone considering trading on HitBTC should proceed with caution. While it seems that HitBTC has all the features that make it look impressive from the outside, there were a number of things that we were less than impressed with.
Continuing our HitBTC review, we’ll now look at cryptocurrencies in more detail. Cryptocurrencies are digital currencies that are based on blockchain technology. Well-known and the pioneer cryptocurrency, Bitcoin makes up the majority of trade volume across all cryptocurrencies. Many of the most popular exchanges encompass excellent security, provide real time support and support a wide range of cryptocurrency pairs. In the digital market, cryptocurrency exchanges, especially those that foster a diversity of trading pairs, play an integral role in maintaining trading volumes.
Where is HitBTC located?
Nevertheless, HitBTC exchange is open about its official location. It is registered in Chile as Hit Solution Limited. Its official mailing address is Av Vitacura 2969, Las Condes, Región Metropolitana, Chile.
The withdrawal fees are similar, except that the SEPA surcharge is a flat rate of 0.9 EUR. Provide your email address and create a password to sign up. Complete the ID verification process and don’t forget to enable 2-factor authentication before you start trading. HitBTC is a well-known cryptocurrency exchange where you can buy and sell hundreds of digital currencies. 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. What sets HitBTC aside from many of the other exchanges is that they offer a pretty generous 75% of the trading fees that your referral generates on the platform.
They also provide the Deposit and Withdrawal service for the users who want to transfer their funds either in to or out from Mercatox’s user balance for their trading activity needs. Full Fraud and Exit Scams – Still other crypto exchanges and projects are scams from the beginning. Some try to be ongoing scams, staying active as long as possible before being forced to cease operations by authorities. Still others , just keep the platform up and running as long as it takes for them to make the money they want, then they close it down and take everybody’s money. It’s entirely possible that their many problems are due to high demand, lack of talent, and a few bad apples. But if HitBTC closes operations in the coming days, as many are suggesting they will, we can quickly ascertain that HitBTC was nothing more than a fraud for exit scammers. Customer support of HitBTC is not talked about very highly on social media platforms.
- There is a news section which may come in handy when major news is breaking, you will quickly be alerted to it.
- The user needs to select the corresponding row they wish to deposit and click “fund.” When this is done, the user gets a wallet address with numbers and letters along with a QR code.
- The security section in the “Setting” menu also allows users to check all the logins of their accounts.
- It instantly got the coverage and lots of mentions on all over the web including me.
- That being said, even if you’re a fan of less popular coins, the chances of finding them on HitBTC are truly high.
In a nutshell, regardless of how much you trade, you will always pay 0.01% in trading fees. For example, if you bought $5,000 worth of crypto, and then sold the same $5,000 worth of crypto, you would pay two lots of $5. To buy bitcoin with a fiat currency through HitBTC, you’ll need to verify your account. To sign up for a general account at HitBTC, you can visit the site and register by using an email address and password.
Author: William Edwards