HitBTC Review 2023: Is It A Good For Traders?

As per our HitBTC review, traders can buy and sell several cryptocurrencies using more than 800 cryptocurrency pairs. This exchange offers a wide choice of cryptocurrencies that can be used for trading, and it is one of the leading exchanges to enlist several emerging projects. Ryan, thanks for sharing your personal experience, Hitbtc doesn’t target accounts holding small funds, in the meantime why to deny that Hitbtc is blocking traders funds? The main disadvantages of HitBTC is the latency regarding their website, their deposit fees, and their ‘main’ vs ‘trading’ accounts. One of the biggest pain points of HitBTC that I noticed is how unusually slow the site takes to load. We have tested their site speed across multiple computers using different browsers and it almost always takes at least several seconds to go from the exchange platform to the account page.

• With an abundance of features and 541 coins to trade, HitBTC is a well-rounded exchange to use.
• However, the trading volumes on the other futures contracts are very low.
• Technical support sometimes has questions, or rather, the speed of their work, it’s hard to argue with that.
• Moreover, HitBTC organizes various trading contests, so you can measure your skills against other traders and climb up the ranks in its leaderboard.

With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses are usually just thrown under the umbrella term – exchange. When deciding which crypto exchange platform to use, there are multiple aspects to take into account. 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.

BitFlyer Exchange Review 2023: The Inside Scoop on Features, Fees, and Security

The first step in this HitBTC how to trade guide is creating an account by visiting the HitBTC website. You should then receive an email, containing a link to activate your account. Once this link has been followed, your account is now active and you can begin trading. By going onto your account settings and the KYC tab, you can verify your account – you’ll need to upload various photos and documents to confirm your address and other details. There should be a button to ‘request verification’ once you have filled in the KYC details.

As such, more experienced retail traders and professionals should not have issues with the exchange’s interface. When the deposited funds are added to the account, the user can make a trade. The user clicking the exchange button will be taken to the trading area.

HitBTC Review

Yes, HitBTC is safe and legit as it has many security features to safeguard its users. The exchange has not been hacked, which shows strong security measures. It also offers two-factor authentication to its users to add a layer of security. With the HitBTC affiliate program, users can earn via referrals. The exchange offers several rewards and hence, traders can earn a good passive income.

The exchange was leaving a gray area at that time and didn’t meet multiple strict requirements of US law in the sphere of cryptocurrencies. So, beginning with 2019 the hitbtc exchange review residents of any of the states of the United States of America are not allowed to trade on HitBTC. But like it more or less, HitBTC fulfills its function correctly.

Liquidity

Therefore, due to its high liquidity, the platform creates low transaction fees. Also, on the HitBTC exchange, there are such coins that are not on other top sites. This makes the platform unique, and traders receive additional liquidity. The HitBTC cryptocurrency https://forex-review.net/ exchange was founded in 2013, and offers an extensive list of cryptocurrencies for trading. There are more than 300 pairs available on the platform today. HedgewithCrypto aims to publish information that is factual, accurate and up to date.

When it underwent the designing phase, the emphasis was solely laid on simplicity and easy to use interface for its users. One of the most important features of HitBTC is that it offers different types of accounts for traders to choose from to match their trading style. Read more in detail about the cryptocurrency exchange in Indonesia here. The crypto exchange HitBTC has been successfully operating in the market since 2013, providing users with high-quality services and advanced trading opportunities. The company’s goal is to become well-known worldwide and turn into a leader in crypto trading.

During this time, users were left unable to withdraw their funds and were faced with a lengthy waiting time anticipating the clearance of their withdrawal. HitBTC scams started featuring in HitBTC reviews, but the issue was found to be caused by technical issues and has since been resolved. Aside from this minor event, HitBTC has not faced any major security issues. It does offer one of the broadest cryptocurrency markets selection in the entire industry, and its trading fees are the lowest, too.

As soon as you click on both currencies, the page automatically refreshes and displays information on the selected pair. 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. The exchange can facilitate the blocking of transactions with OTC models from the same account, acting as a bank transfer intermediary in order to avoid counterparty risk. No restrictions – Approval authorized by FCA means that there are no restrictions on deposits or withdrawals. It increased the precision of the data displayed on HitBTC and opened better opportunities using API. More than that, the TradingView users now can manage their trades via HitBTC.

Do We Recommend HitBTC?

If, however, you require just a specific conversion of the occasional fork or cryptocurrency, they will probably get the job done. Personally, I would choose Binance since I value reputation more than anything, however it really depends on your needs. Fees can vary from 0.25% to -0.01% for extremely large orders . I haven’t actively used it for trading until the Bitcoin Cash and Bitcoin Gold forks came about. Whenever I claimed a new coin from one of these Bitcoin forks, I would immediately sell it on HitBTC. This website is using a security service to protect itself from online attacks.

Since we’re already done with the positive aspects of this HitBTC review, it’s time to jump to the less pleasant part and discuss what this crypto exchange is missing. Remember, though – if you’d like to check out some better alternatives, feel free to visit Kucoin or Binance. If you want your account to be extremely secure make sure to create a strong password. Also, it’s recommended to have a dedicated email account for trading and keep your coins in secure cryptocurrency wallets.

The user can see the open orders displayed on the screen, and they can also find a user chat on the same screen. One of the important features offered by the HitBTC trading platform is that the user trades without verifying their account. If they want to work with digital currencies, there is no need to offer any personal data.

HitBTC offers a rebate program for their market makers; market makers provide the exchange with high liquidity, where they get a rebate of 0.01%. If they reach tier 8 like if they trade 50,000 Bitcoin a month or more, HitBTC will pay the user a rebate of -0.01% for every completed trade. If the trader liquidates a trade position to reach the liquidation price, HitBTC charges a liquidation fee of 0.5% of the position value in the quoted currency. HitBTC does not force the verification status to have an upgraded account. This process is necessary, and it offers the benefits like regaining access to the user account in case of forgetting passwords or two-factor authentication and low trading fees.

It will be convenient for both new market players and true professionals. It’s equally suitable for English-speaking users and those speaking other languages. It’s very convenient and greatly contributes to the company’s reputation. HitBTC is a very popular platform that calls itself ‘the most developed cryptocurrency exchange’ and offers hundreds of trading pairs, including both crypto and fiat currencies. It offers complex trading options and the team continuously adds new features and functions.

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. HitBTC confidently enters the TOP cryptocurrency exchanges in daily trading volume.

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. A quick online search showed a mob of angry customers posing similar reviews about the company.

Although not to much came out about it in the press, users were vocal of their displeasure on online forums and review platforms. HitBTC did not cover themselves in glory as they refused to provide any information about the incident. Many users complained of their coins being ‘lost’ on the platform, as well as delayed or no withdrawals from the exchange. The HitBTC exchange provides an opportunity to work even without registering. Additionally, unlike other websites, it offers demo trading, enabling you to try your hand at the market without risks and learn more about the advantages of the resource. Thanks to an order book, analytical materials, graphs and tables, you can easily stay up-to-date with the current dynamics of cryptocurrencies.