After you know this, it’s easy to understand the user interface functionality. However, if you’re a newer user, you might think this is a bit strange. This is due to the fact that almost every other cryptocurrency exchange uses a one-account system. Therefore, having a two-account system does create a little confusion. The ‘main account’ is designed to be a place where you can store your cryptocurrency funds. You’ll have to first transfer them to the ‘trading account’, which is designed specifically for trading and not for storing funds. HitBTC has a good reputation as a place for professional traders, but negative reviews abound.
What. Are. You. Doing. To. Fix. This. Problem.
Why is that so hard to answer?
— Foxy Incognito (@MedwayBDS) November 30, 2021
With the recent rise in banks stopping people buying cryptocurrencies with a credit card, HitBTC may have saved themselves a trick here. HitBTC is a popular cryptocurrency hitbtc review exchange with some unique features that set it apart from any other trade/exchange websites out there today that handle FIAT and crypto currency trading.
What Is Cryptopia? Instructions To Create An Account, Deposit And Withdraw Money From Cryptopia
HitBTC offers one of the widest selections of cryptocurrencies available for trading and is one of the first exchanges to enlist emerging projects. Accessing HitBTC markets from a restricted jurisdiction can result in account closure and liquidation of open positions on the account. Further terms specify that users must not use the platform to pay for or support illegal activities, something cryptocurrencies have been criticised for in the past.
Coinbase Pro is an advanced cryptocurrency trading platform owned and operated by Coinbase, Inc. It was launched in the year 2015 as GDAX, a professional trading platform for individual active traders and later rebranded in July 2018. Coinbase Pro enables high-volume cryptocurrency trading solutions to traders in the US and other countries.
Step 1 Open An Account With Hitbtc
All transactions made won’t count, so you won’t risk lightening your wallet. One caveat is that they are a bit shady in terms of their location. The community at large is still not sure of where they are actually located. Still, they require a lot of verification to start trading large amounts.
On HitBTC, “Takers” are charged with a 0.1% fee from the trade. “Makers” are not charged with a fee, and instead receive a 0.01% rebate from the trade. After 100 BTC volume, the maker fee drops to 0.08%, and after 1,500 BTC the maker fee is canceled while the taker fee stays the same. As the Crypto space is growing rapidly, there are numerous exchanges hitting the platform. Hitbtc has never been hacked before, besides some sources saying otherwise without any proof regarding security.
Access Hitbtc From Mobile
The biggest and primary concern for the Hitbtc exchange is their accountability because the company location for where it operates is not known. Although the mailing address is in Hong Kong, and it claims to have an office in Chile and Estonia. Therefore, it should act as a significant red flag, as it would be difficult to locate them if, due to any reason, something happens to the funds. HitBTC has around six million venture capital investments in Hong Kong, but it focuses more on the European crypto markets. When we performed a like-for-like comparison with Coinbase, we felt the platform was a much better option if you’re looking to buy and sell crypto. Coinbase was far easier to use, we could deposit funds with a debit/credit card and e-wallet, and customer support was top-notch. In the ‘Amount’ box, enter the amount of cryptocurrency that you want to buy.
Its official mailing address is Av Vitacura 2969, Las Condes, Región Metropolitana, Chile. Other than the right to use HitBTC Token as an instrument to interact on the HitBTC Exchange, ownership of HitBTC Token confers no other privileges, implied or express. The HitBTC Token may also serve as an incentive for users to participate in the HitBTC ecosystem. We have created HIT to provide you seamless HitBTC experience and exclusive benefits for our upcoming products.
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Your transfer limit will be5000 EUR worth of electronic moneyyou transfer. In order for your account to be verified, you need tosend HitBTCyourpersonal information and request verification. Theregistration on the floor ofthis relatively quickly, you willreceive a confirmation email accounts createdin a very short time. CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses.
- It provides trading in multiple traditional currencies to cryptocurrency pairs and cryptocurrency to cryptocurrency pairs.
- We know there is a lot of potential behind HitBTC, so we hope to see some exciting news in the coming years with UI updates.
- This system serves as their customer service support platform.
- Choose the right kind of cryptocurrency exchange for daily trading volumes and HitBTC lists several hundreds of crypto coins with highly competitive fees.
- As you’ll see from the above list, those based in the U.S. are not able to use HitBTC.
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.
Advantages Of Hitbtc
Cex is a popular trading platform known for its high level of security and worldwide coverage. If you’re looking for an exchange that accepts credit cards, this one is it. Competitive commissions, margin trading, and transparent compliance are all reasons for choosing this platform over HitBTC.Read our Cex.io Exchange Review. Setting up an account is a breeze and verification isn’t necessary for small amounts. However, if you wish to increase your limits and access fiat currency, you need to take things a step further. FP Markets offers Forex, Equities, Commodities, Cryptocurrency, Futures and Index CFDs all from one account. Lack of Talent – Engineers and computer scientists adept at blockchain-specific applications are few and far between.
@hitbtc what’s going on with our doge coins? It ‘s more than 6 months that you have disabled doge coin withdrawals to US citizens & residents… We want to withdraw our money you Scammers!!Let us withdraw @FBI, @CIA @dogecoin please investigate @hitbtc @is_hitbtc_scam !
— DizzyRabit (@DizzyRabit) November 29, 2021
However, there are a certain number of complaints about users being hacked. There are chances that such an accusation may or may not be accurate. After HitBTC signup, it forces users to activate the 2FA because some features won’t be available for others without it.
Three years ago, HitBTC futures trading became available on the platform, allowing an enhanced customer offering. 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 made further apparent by the lack of a real time customer support system, which is a feature of other exchanges. Later on in this HitBTC review we are going to be looking at how beginners can utilise the support center for trading knowledge. Self professed as “the most advanced cryptocurrency exchange”, HitBTC was founded in 2013 and is widely known for providing access to over 800 currency pairs and 500+ spot instruments.
It’s important to note that FIAT transactions are not available for the general verification tier. Another unique feature of HitBTC is that it allows demo trading, which is extremely rare in the world of cryptocurrency exchanges. Most exchanges, when asked about demo trading, simply tell you to make minimum trades of $1 and treat that as your demo.
When new users use a HitBTC referral code, the trader who referred them can gain up to 75% rewards from their trading fees. The encryption technology used on HitBTC means it’s safe and secure to trade on the platform, however once again, there aren’t many more details available on the site. HitBTC’s KYC and verification process is reliable and ensures users under 18 years of age are prohibited from opening an account and trading.
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.
- If the user wishes to withdraw money, they should have coins in their main account; they need to click withdraw.
- The fiat withdrawals and deposits allowed for Qualified accounts are $10,000 per week and around $50,000 per month.
- After you consent HitBTC to collect certain data you are free to start using HitBTC.
- No surprise, people get nervous when they search for help and the support team is not answering for several days.
- On the top left side of the page, you will find an “Exchange” button.
An update here and there to the UI would go a long way in taking this exchange into the next 5 years of its life cycle. We expect to see much more from the HitBTC team in the coming years. Even CoinMarketCap threw up their hands when looking at some of the assets on HitBTC. HitBTC now has one of the largest “Unverified Markets” lists on CoinMarketCap. Unlike many other exchanges, HitBTC has placed its bets on providing a world-class API.
This section is a step-by-step guide to register, deposit funds, and make your first trade. Note that the content on this site should not be considered investment advice. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. These fees are extremely competitive, meaning that the platform is potentially suitable for high-frequency traders. The traded price of digital tokens can fluctuate greatly within a short period of time. Founded in 2014, HitBTC only charges its users 0.01 percent per trade. Many of the complaints can be found on the company’s Twitter profile and in the currently banned subreddit r/hitbtc.
Author: Omkar Godbole