HitBTC allows HitBTC users to trade crypto along with a vast selection of currency pairs. I didn't trade for about a year and the exchange took the money for itself. They cleaned up my account charging me inactivity fees https://forex-review.net/hitbtc-review/ that didn't exist when i signup in 2017. Just got my HIT-BTC account access restored after merging with hit-btc.exchange The process was quick and smooth support was helpful and responsive. The security protocols were insufficient, and my funds were stolen, despite my trust in their platform. I had a terrible experience with this investment platform, and I feel it's important to warn others about their unethical practices.
On the other hand, HitBTC offers a full-fledged demo trading that can introduce users to the world of Bitcoin and cryptocurrencies. Most exchanges, when asked about demo trading, simply tell you to make minimum trades of $1 and treat that as your demo. This Bitcoin exchange provides cryptocurrency trading services to institutionals, merchants and individual traders worldwide.
- HitBTC provides two step verification for all users through the commonly used Google Authenticator.
- Other HitBTC security features include cold storage and advanced encryption technology.
- If you want your account to be extremely secure make sure to create a strong password.
- Unverified users pay a maker fee of 0.1% and a taker fee of 0.2%.
For the past couple weeks, hitbtc has done everything in their power to keep my money from me. I was able to get most of my money back by investing in experts, trade+crypts, c0m, online who assisted me. This experience was extremely frustrating, leaving me feeling deceived and exploited. Thank you, Hit-btc.exchange, for restoring access and letting me access my crypto. I encountered withdrawal blocks after completing account verification.
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- This security feature is immediately presented to the user upon accessing Settings, and is used for all logins and withdrawals.
- The physicist has couple of years of professional experience as project manager and technological consultant.
- Using the “Search” field that you’ll find at the top of the page find the cryptocurrency and click the “Deposit” column.
- In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person.
I was able to successfully transfer out my funds, and the process, though stressful at first, ended with a positive outcome. I submitted my KYC including ID, proof of address, selfie, and even details of prior transactions and within a few days my withdrawal was enabled. My money was refunded by the expert team on my profile photo The company's inability to safeguard its clients' money was frustrating, and their customer service was of no help when I tried to resolve the situation. Withdrawal requests were constantly delayed, customer support was unresponsive, and the promised returns never materialized.
HitBTC is popular for its API, which is extremely stable and will satisfy the needs of algorithmic traders. HitBTC provides two step verification for all users through the commonly used Google Authenticator. They only charge 0.1% on every market trade and LP orders have a 0.01% rebate. Each of these levels has their own advantage, but of course, the higher the level, the higher the trading volume. There are levels of accounts that you would be able to get with HitBTC – General, Verified, and Qualified. If you want to fund your account using FIAT, then you need to verify your account and get it out of the “general admission”.
HitBTC Review – Fees, Security, Functions, Regulations
What country is HitBTC from?
HitBTC is managed by Hit Solution Limited, based in Hong Kong, address Unit 19, 7/F., One Midtown No. 11 Hoi Shing Road, Tsuen Wan, New Territories. The company also possesses a dedicated office in Chile, address Av.
HitBTC has over 800 trading pairs available, including Bitcoin, Ripple, Ethereum, Stellar, etc. The trading interface is entirely customizable so that you can organize the windows in an order suitable to you. Select a currency from the chart’s list, and the page will instantly refresh and display information about the chosen trading pair. HitBTC provides a wide range of trading pairs for leveraged trading ranging from 3x to 12x.
How to sell cryptocurrency on Hitbtc?
However, first, you will need to deposit funds into your account. Being aware of all the pros and cons you’ve probably already decided if this crypto exchange is suitable for you. Now, since HitBTC has multiple security measures, it might take a while for you to create your account and verify identity. That being said, it’s recommended to wait for the app to be completely developed in order to have a full experience. Now, while HitBTC mobile app is available, it’s still in a development stage, meaning that the app is not stable and you might experience certain issues when using it.
Mobile App
What are the disadvantages of using HitBTC?
The issue with trading: Leave a lot of Dust
For many currencies, HitBTC added a rule for many coins to be traded in the divisible of 10 or 100. This create a major issue and leave a lot of dust in our HitBTC account. Another thing to know is withdrawal fees is pretty high.
I do not advise anyone to work with this exchange! It's been like this for 4 years, funds frozen after deposit without details. Standard messages are sent by support, which violate their own guidelines.
I have to say that is quite disappointing as no one will be there to help you in case you’ll be having any issues when creating your account, verifying your identity, trading crypto, and so on. The Demo account is suitable for beginners who want to have a real-time experience in trading. The system will be calculating your trading volume for the last 30 days and determine the fee rate for your account every day. However, what you should know is that the higher amounts you trade, the lower your fees will be. 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.
The company is silent on this issue and it seems suspicious to the majority of the users. There is a limit to buying, selling, and withdrawing if you are not having a verified account. There are several users claiming that their HitBTC was hacked but the company remains silent on this issue. The more HIT tokens you hold or use in pair trading, the more discounted the trading price.
HitBTC Reviews: Final Thoughts
Decentralization and DAO structures can enhance security, reduce the risk of single points of failure, and promote transparency and community participation. Find out the whole truth in this HitBTC review!
Hence, if you want to have a real trading experience without risking anything, you should definitely give it a try. In most cases, it’s recommended to watch some tutorials or simply start trading small amounts that you wouldn’t be afraid of losing. To avoid that, it’s important to figure out how the platform works first. Regular users pay a fixed amount – 0.1% maker fee and 0.2% taker fee. HitBTC offers some of the lowest fees in the market.
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One of the unique advantages of HitBTC is that it provides support for the FIX protocol. Thanks to their API’s, HitBTC is known for being able to be friendly enough to people who are into creating trade bots. HitBTC is a leading European Bitcoin exchange and they claim to be the world’s most advanced Bitcoin exchange. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Let us learn how to deposit cryptocurrency into this exchange Let us learn how to sell cryptocurrency on the Hitbtc exchange Hitbtc offers more than 500+ cryptocurrencies and 800+ trading pairs. Between 74-89% of retail investor accounts lose money when trading CFDs.
Some of the most popular features of the exchange include support for the FIX protocol and the ability to open a demo trading account, which allows you to feel the rush in trading without damaging your wallet. This HitBTC review will reveal everything you need to know about the HitBTC exchange, its features, services, trading fees, etc., to help you decide if it’s a suitable exchange for you. HitBTC is a popular cryptocurrency 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. Another unique feature of HitBTC is that it allows demo trading, which is extremely rare in the world of cryptocurrency exchanges. In this in-depth HitBTC review, we will dig into the exchange fees, services, customer support, trading, and much more.
However, their interface is something that beginners would not like because there is too much information for a new person who just came into Bitcoin trading. The website interface is filled with all the information a seasoned trader would need. HitBTC supports FIX via two types of interfaces, including FIX Market data and FIX Trading. On the other hand, Streaming API allows you to access market data and trading operations and socket.io is a protocol that allows you to receive market data. It provides an easy back office integration, and it is compatible with HFT set-ups, and algorithmic trading systems.
According to its terms of service, US residents aren’t permitted to use the HitBTC cryptocurrency exchange. However, the negative reviews about HitBTC mostly mention its poor customer support and slow withdrawals. You can sign up and use the demo platform by selecting the demo option at the bottom of the screen or by entering demo.hitbtc.com directly into your browser. If a trader liquidates a trading position to attain the liquidation price, HitBTC levies a liquidation fee of 0.5% of the position value in the quoted currency.