Hitbtc Review 2021 » Is Trading With Hitbtc Safe?

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. HitBTC has also launched a demo trading and an application that can be used for voting altcoins. Based on this, the users can select their preferred cryptocurrencies to trade on the platform. Concluding this section of this HitBTC review, HitBTC has been given mixed reviews from real users and the general consensus seems to be that it’s not made for beginners. Due to the detailed nature of the platform, it’s more suited to experienced traders who are comfortable with terminology, charts and trading.

This is concerning for trading services that rely on liquid order books to ensure reliable order execution and reasonable spread costs. If you haven’t quite got the time to read our review all of the way through, then we concluded by noting that we cannot recommend HitBTC as a credible exchange. The platform not only has a history of moving from jurisdiction-to-jurisdiction, but it has a significant number of bad reviews in the crypto community. If the safety of your funds is your top priority , we instead prefer heavily regulated platforms like Coinbase.

Hitbtc Exchange Overview

HitBTC offers many base pairs like BTC, USDT, ETH. The volume is low too, which means it is also not ideal for high volume traders and users looking for liquidity. Yes, HitBTC Exchange is one of the safe exchanges available since there have been no hack events since its inception. HitBTC exchange offers the following security and compliance features to ensure that clients accounts hitbtc review and transactions are maximally protected. They are certainly one of the most established with over $6million in venture funding and a $300million trading volume. The team consists of software developers, finance professionals, and experienced traders. Also, they have a ticketing system if you want something answered. This system serves as their customer service support platform.

While we are independent, we may receive compensation from our partners for featured placement of their products or services. We may also receive compensation if you click on certain links posted on our site. However, through a partnership with Changelly, you can buy bitcoin using your credit card and have the coins deposited directly into your HitBTC account. Unfortunately, there’s limited information available about the team behind the platform and where it is based. The HitBTC website lists a representative office in Chile and a mailing address in Hong Kong, but few other details.

Hitbtc Reviews

We will assess and compare its most popular features, supported assets, trading fees, security and customer service. While registering for a new account on HitBTC is easy, verifying your account can take some time. Do not expect a quick turn-around from HitBTC’s side, users often complain about a very slow verification process. The first one is -general account, in which you may deposit any cryptocurrency for free. But there is a daily withdrawal limit of EUR 5000 worth of cryptocurrency. However, if you belong to the General verification tier, you cannot deposit fiat currency . The second tier isVERIFIED, in which you get free deposits for cryptocurrency and a maximum of EUR 25,000 daily withdrawal limit on crypto-assets.

On this page, users can view key metrics for the system’s performance and availability, including live statistics of incoming/outgoing transactions. They also have an advanced tracking and link creation system where you can create different links and monitor their relative performance in your affiliate dashboard.

Step 3: Buy Crypto

Margin trading, margin funding, and a suite of order types all appeal to experienced traders. 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. HitBTC provides 2-factor authentication, whitelists and cold storage custody solutions.

HitBTC also supports lesser-known altcoins, diversifying its range for clients. To conclude our review on HitBTC, the exchange provides a reasonable trading platform for Bitcoin and Ethereum traders. However, there are several areas of concern that need to be addressed to rival the larger exchanges. In particular, the user interface is outdated, lack of transparency on security measures and negative feedback on the customer support. HitBTC offers competitive spot trading fees that start from 0.9% using a maker and taker fee system.

The Most Advanced Bitcoin Exchange

Being aware of all the pros and cons you’ve probably already decided if this crypto exchange is suitable for you. Now, if you want to start using HitBTC right away, you should know how to register and deposit your funds. You’ll find all the needed information on how to do that below. The very first aspect that multiple HitBTC reviews distinguished is the fact that this crypto exchange has poor customer support. As you can see, HitBTC exchange is truly extensive and provides you with the ability to trade multiple cryptocurrencies, even less popular altcoins. HitBTC provides standard security measures including 2-factor authentication, email confirmation, and other options.

• HitBTC lives up to its self-proclaimed mantra of the ‘most advanced Bitcoin exchange’.
• The asset list for selecting the instruments is well laid out with different tabs for selecting the specific coin to trade with collateral.
• Therefore, individuals from the United States are strictly prohibited from creating an account and will not be able to open any trades.
• You might love how it all feels, but at the end of the day, it is still your decision to make.
• As soon as they choose the currency, the page refreshes automatically and shows the information about the selected trading pair.
• You can also visit the “Reports” page, and click on ‘my orders’.

Blockfer does not include, review, or compare any blockchain finance related service or product that does not meet our reputability standards. The exchange does not have an iOS app and users should be aware that fake HitBTC apps exist. HitBTC has a below average reputation compared to its competitors.

Conclusion Of Hitbtc Review And Best Hitbtc Alternatives:

However, you can buy bitcoins using your Visa or Mastercard via service provided by Changelly that is built-in the HitBTC account. As HitBTC offers wire transfer as a deposit method, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies. The HitBTC fees structure is one of the most competitive models among cryptocurrency exchanges. They have a tiered fee structure that provides customers with more fee savings the more volume that they trade within any given month. Bittrex charges around 0.25% and for many other exchanges, 0.25% is the standard fees. HitBTC is one of the only few with such low fees and a rebate for makers, something that rarely exists elsewhere.

The Demo account is suitable for beginners who want to have a real-time experience in trading. That being said, you can credit yourself with a test fund and apply different strategies when trading. 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. Let’s move further to find out whether or not the company manages to achieve its main goal and how good the services they provide actually are.

Reviews

Still, they require a lot of verification to start trading large amounts. In general, they employ state of the art cryptography for your security. If the user wants to withdraw funds, they need to go to the account section, choose the coin and click the withdraw button. They need to specify the amount they would like to withdraw, and it immediately shows how much they will receive after calculating the commission.

You can then send your purchased Bitcoin to the specific address listed on HitBTC’s exchange. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. They may allow small transactions, but anything above 0.5 ETH and they will steal it.

How To Deposit Funds Into Your Hitbtc Account?

My coins and balances vanished and were transferred to their own account…impossible to get them back. All these opportunities together with the security measures I’ve mentioned make HitBTC trading experience rather a safe one. 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 history of trades is available in the “My Orders and Trades” box.

Author: Vlad Hatze