If the user wants 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 is one of the largest cryptocurrency exchanges in the world for daily trading volumes. The platform lists hundreds of supported coins, and its fees are highly competitive. However, the platform has a somewhat “murky” reputation in the public domain. HitBTC provides 2-factor authentication, whitelists and cold storage custody solutions.
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 hitbtc review 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. We’ll conclude this section of our HitBTC review with information on how to make withdrawals. The funds must be transferred into your main or trading account.
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Trading can be done manually or via the API – the test mode is as responsive as the regular exchange platform. Using a starter account, the trader can start trading immediately, keeping in mind that it is limited to cryptocurrency deposits and withdrawals. The limits are set to 1 Bitcoin daily and 5 Bitcoin monthly withdrawals that do not need verification. As per our HitBTC review, if the user wants to trade cryptocurrencies, HitBTC charges a simple fee structure. However, there is no deposit fee for using cryptocurrency; it charges withdrawal fees for placing orders or withdrawing more money from the platform. The flat fees charged by the platform are highly competitive, which implies that this platform is suitable for high-frequency traders.
Although the HitBTC support team operates 24 hours per day, the only contact channel available is the online support form. Therefore, if you prefer the likes of live chat or telephone support, you’re out of luck.
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The company operates as a third-party middleman between buyers and sellers, making a profit in trading fees along the way. All you need to do to get started is register a Bitcoin account, deposit some funds, and then proceed with your cryptocurrency purchase. If you then plan on keeping hold of your coins long-term, you should consider withdrawing them to private Bitcoin wallet , as opposed to keeping them in your online HitBTC wallet. HitBTC is an exchange for the experienced cryptocurrency trader interested in trading altcoins. HitBTC is an established crypto exchange that has provided quality trading services since the early days of cryptocurrencies. The exchange has developed over the years to provide high volume trades on a secure platform.
You can choose from the Market, Stop, Limit, Stop-limit, and Scaled orders. Such types of orders as Fill-or-Kill, Good-Til-Canceled, Immediate-Or-Canceled, Day, and Good-Til-Date/Time are also available. This diversity of order types helps to prevent losses and maximize profits. We can say that these features help to make mistakes less costly. The website provides an explanation for each of these order types. HitBTC Market SpreadMake sure that you have completed a KYC procedure.
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At the same time, it’s London-based parent company Hit Techs Ltd. was dissolved in May 2017, leaving question marks about the exchange’s current ownership. Buy bitcoin or deposit some other cryptocurrency and start trading immediately without verification. The HitBTC trading platform allows for both native HitBTC and TradingView charts, making analysis and trades much easier for clients. It also offers a programme where users can refer others using a HitBTC referral code.
- When the user is on the trading screen and has the necessary funds, they can proceed with trading.
- As the Crypto space is growing rapidly, there are numerous exchanges hitting the platform.
- In July the exchange burned a total of 25,539,150 HIT tokens (about 4.7 million USDT).
- HitBTC is one such exchange solution that has been providing trading services long before Bitcoin became a global phenomenon.
- What’s worse is a large number of assets that have a dangerously low trading volume.
However in the past, it’s been criticised for lengthy withdrawal times due to technical maintenance issues, which has left clients feeling frustrated. In some cases the support team hasn’t been able to offer a quick solution, prompting the question, is HitBTC safe? In this HitBTC review, we take a deeper dive into what makes the platform so popular and alternatively, some of its downfalls.
How To Buy Crypto On Hitbtc?
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 Bitcoin Exchange General Overview.- Interactivecrypto – Interactivecrypto
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However, for users who complete their transactions using European Bank Transfer , the price is 0.90 EUR. Finally, for the International bank wire , users have to pay $9 as the fee. High competitive fees, as the trading fees are lower than the average industry trading fee.
It is better to avoid storing your crypto-assets in any online exchange, keeping your coins in an offline or hard-wallets will increase the security. Customer support of HitBTC exchange is not supportive or responsive. Many complaints from users reveal about the slow and time-staking process that the customer service executives indulge in.
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Just like with exchanges, some wallets are scammy and you could lose your funds if you choose the wrong one. After reviewing many exchanges, these problems don’t sound so unusual to us . As with Russian crypto exchange YoBit, HitBTC’s formerly reliable service has devolved into a model with all of the earmarks of a common scam. Angry users are many, and HitBTC can’t be seen as an option for crypto users. HitBTC is a European crypto exchange, and for a few years played an important role in this market by accepting fiat payments and transfers. HitBTC even accepted fiat payments from some non-European countries, offering access to a host of new users who were not served by HitBTC’s well-known competitors.
If HitBTC can pull off a UI update like Kraken, we have no doubt they will secure a long-term position as one of the leading exchanges. High liquidity and consistent trading volume improve the experience for both retail and institutional investors.
As per the HitBTC reviews, the platform now has over $300m in trading volume. The user can trade Bitcoin and other cryptocurrencies on the platform. Aside from Bitcoin, they can trade with some major cryptocurrencies like Ripple, Ethereum, Stellar, etc. Also, the user has the option to access altcoins that can develop in the future.
The lowest fees in the industry, exceptional API order execution, and an over all pleasant experience. With so many different assets, people may begin to question if there is a point at which an exchange has listed too many assets. Without these permissions, many services will not be able to execute your strategy or trade for your account. The UI is a bit outdated, the trading terminal could use some patching up, and the overall feel of the exchange experience is closer to Poloniex than Coinbase Pro. HitBTC might request its users to provide the information that helps to contact, locate and identify them. As the price reaches the stop price, the order turns into a limit order (so for stop-limit order you should specify both stop and limit prices).
- The UI is a bit outdated, the trading terminal could use some patching up, and the overall feel of the exchange experience is closer to Poloniex than Coinbase Pro.
- With an exceptional trading engine, strong API, and long history in the crypto market, we see a great opportunity for their team to clean up the new customer experience and shine.
- In 2017 and 2018, many users have complained of slow HitBTC support response times, and some users also experienced issues with fund withdrawals.
- HitBTC is an exchange for the experienced cryptocurrency trader interested in trading altcoins.
There are levels of accounts that you would be able to get with HitBTC – General, Verified, and Qualified. Each of these levels has their own advantage, but of course, the higher the level, the higher the trading volume.
So while there are excellent exchanges like Binance, Bittrex, Coinbase, etc., unscrupulous actors have introduced fraudulent exchanges as well, like HitBTC and Yobit. It’s also important to point out that even among the highest-quality exchanges, there are problems for the new user. Simply navigating a complex trading screen can befuddle even the brightest newbies, and once the purchase has been made the problems are only just beginning. Since cryptocurrency popularity is growing you can find such a variety of platforms that allow you to buy, sell and trade cryptocurrencies. While having more options is a good thing, you might also encounter some issues when choosing a cryptocurrency trading platform for your needs. One might ask why in the world should we provide any personal data? Privacy is just a tool of protection, but many cryptocurrency exchanges use a different tool — a Know Your Customer procedure.
Besides basic verification, professional traders might want to upgrade their account to PRO status using HitBTC’s UK-based partner Bequant Technologies. The service is accessible via bequant.io and is dedicated to Institutional and Professional traders only. During its six and counting years of operation, HitBTC had a colorful history with numerous accusations. There are many posts on social media, forums, and review sites pointing out all sorts of issues with the website. At the same time, many users are happy with HitBTC’s services.
Another trading feature available on HitBTC is OTC trading or “over the counter” trading, which means high-volume trading that doesn’t show up in the order books. In OTC the traders make a deal directly without affecting the market price of the asset.
Author: Fredrik Vold