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. hitbtc exchange review 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.
- You will need to provide your full name, address, a government ID, and a selfie of your holding said ID.
- Unlike some of the other cryptocurrency exchanges we have reviewed, the trading fee system is very straightforward at HitBTC.
- It is known for offering a comprehensive trading interface, a range of cryptocurrencies, and features suited for both novice and experienced traders.
- May the curse of God and the whole universe be upon you for doing this to your fellow man.One day you will answer all these thefts.I ask God to bring that day closer.
- The platform was launched back in 2013 and the investments it received amounted to about 6 million dollars.
- The system will be calculating your trading volume for the last 30 days and determine the fee rate for your account every day.
In this in-depth HitBTC review we will dig into the exchange operations, platform, customer support, trading fees and security procedures. The HitBTC wallet is actually an integral part of the trading platform because users must deposit cryptocurrency first, in order to be able to trade crypto assets. The exchange applies top-notch security measures to ensure the safety of your private keys, so you needn’t worry about having them stolen. Still, if you need a place to store your keys long-term, hardware wallets are always a better permanent solution. The catch is that you’ll still have to buy crypto for fiat on Changelly, and then transfer your newly-purchased crypto assets to HitBTC to buy the crypto you were after all along. As you can see, this is time-consuming and not at all practical.
No personal information is required if users operate with digital currency, but those trading frequently and fiat currency are required to undergo verification. Personal information, including name, address, country of residence, bank account, date of birth, and pertinent scanned documents, must be provided for adding or withdrawing funds. HitBTC allows HitBTC users to trade crypto along with a vast selection of currency pairs. Additionally, HitBTC has developed a voting application and a demo trading platform for beginners offering them to try and trade cryptocurrencies on its Demo platform first.
In terms of Trading fees, HitBTC comparably offers lower fees than BingX. BingX is a regulated Exchange under multiple countries’ laws making it an accessible and reliable Exchange among users compared to HitBTC for crypto trading. Discover the origin of decentralized finance, blockchain technology, and cryptocurrency with our articles What Is DeFi, How to Buy Cryptocurrency, and more.
How to Register on HitBTC?
Founded in 2013, HitBTC has become one of the popular cryptocurrency exchanges operating internationally. HitBTC is currently placed under the management of the Ullus Corporation, and is known for providing retail traders, institutional investors, and merchants with crypto and fiat exchange services. HitBTC is a cryptocurrency exchange established in late 2013 which is famous for its wide variety of coin listings and advanced trading features. In this post I will review the company, its services and share some of my (painful) personal experience with them. This gives HitBTC a competitive edge over exchanges that keep their users in the dark about real time performance issues.
How much are HitBTC exchange fees?
Featuring over 800 trading pairs and more than 500 spot instruments, it’s no surprise that thousands of users worldwide leverage HitBTC’s trading services. As is the case with most third-party cryptocurrency exchanges, HitBTC only offers a web wallet. This type of wallet offers the lowest security on your funds, not least because you have no control over your private keys. This means that should the platform get hacked, your funds are largely at risk. Due the number of supported coins that HitBTC lists on its platform, the exchange is also useful if you are looking to engage in day trading. However, the platform offers a number of advanced features within its main trading area, so you’re best off doing this only if you are an experienced trader.
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This protection measure can be turned on via the Google Authenticator app or a similar authentication application. The app generates one-time short passwords that can be used in 30 seconds. No one except for the account owner can’t log in or at least can’t do that without taking a user’s mobile device.
HitBTC Features Review
If you’re already part of the crypto game, you know that this industry has you in for everything but a steady ride. This is true for investors and crypto businesses alike, as they both need to operate carefully and strategically in order to stay afloat when the next volatile wave hits the market. We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. As I am a holder, I kept a certain amount of cryptos in my wallet.
Using the “Search” field that you’ll find at the top of the page find the cryptocurrency and click the “Deposit” column. The system will be calculating your trading volume for the last 30 days and determine the fee rate for your account every day. If you’re still a newbie in the crypto world and do not know which aspects matter when choosing a crypto exchange platform, I can help you.
In general, the crypto crowd still stands by HitBTC as a good platform, even if it has support issues and is not user-friendly. If you want access to fiat and higher limits, verification is necessary. It isn’t easy, but it is well worth it for professional traders. First, navigate to the verification requirements so they are in full view.
When depositing, you need to prove your identity (for instance by a passport copy). So, if you’re looking for anonymous trading, you’re looking at the wrong place. 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.
Third, they state that the platform has a “robot-friendly API”. Out of these three advantages, we dare to say that it is primarily safety and security that is equally important to all prospective traders. The HitBTC exchange tells that it is one of the most advanced and secure cryptocurrency platforms in the world.
In fact, a major cryptocurrency exchange hack seems to happen once a month, if not more often. When you buy coins from a trusted exchange, send them to a high quality crypto wallet. Choose a wallet where you own the keys, and use cold wallet options like Paper wallets and hardware wallets whenever possible. 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.
HitBTC Review Summary
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. BC Bitcoin is a cryptocurrency broker based in Lithuania that launched its service in and offers individuals to buy and sell more than 24 cryptocurrencies. After you know this, it’s easy to understand the user interface functionality.
If your 30-day trading volume exceeds 10 BTC, then you are liable to receive some discounts. Our HitBTC review has disclosed the simple fee structure for customers wishing to trade cryptocurrencies on the HitBTC platform. The exchange doesn’t charge any fees for cryptocurrency deposits; however, there is a fee for placing orders and withdrawing funds from the site. One of the key benefits of the HitBTC trading platform is the ability to trade without having your account verified.
Trading Pairs
To do this, select the main currency to which we will trade (for example, BTC). The main currency is in the header of the chart with the choice of a trading pair. The HitBTC exchange complies with international anti-money laundering (AML) and KYC regulations. In some cases, this means that HitBTC users must verify their identity and provide proof that they received their assets legally.