The maker and the taker pay for the transaction on the platform. The more the volume of the transaction increases, the lesser the fee for that same transaction. For this reason and more, there is no limit to the number of financial assets that can be deposited on the platform, neither hitbtc exchange review is there any limit on the quantity that can be withdrawn. HitBTC has always believed in the consensus of their traders and customers. They allowed a voting program to give them a voice on how to serve them better, which is something very few platforms would offer anyone.

hitbtc exchange review

These blocks generally occur with unusual transaction activities or if a security measure is triggered. These temporary freezes are done with user safety in mind. An online contact form is the only official way to request support. Since the exchange operates round the clock, users can program either an automatic buy or sell command at a specific price point or once certain criteria are met. This option ensures that users can capture a more significant part of the market gains. Users also have the opportunity to automate any repetitive commands.

In terms of trading fees, market takers are charged a very competitive 0.1% fee while market makers actually receive a 0.01% rebate. HitBTC offers its services to users in countries around the world, including Australia. However, residents of certain countries are not permitted to use the platform, so check with HitBTC directly to make sure you’re eligible to create an account. HitBTC is a well-known cryptocurrency exchange where you can buy and sell hundreds of digital currencies. Every negative about HitBTC is in regards to support and long wait times. But for every negative review, there was a positive one from a trusted source.

The API key and Secret key can be found in the Settings tab. First off, HitBTC has a cutting-edge matching engine that makes hitbtc exchange review trading easier and faster than on many other exchanges thanks to advanced order matching algorithm and real-time clearing.

How To Buy Cryptocurrencies On Hitbtc?

So it would perhaps be best to get verified now before they require mandatory verification. While verification is not mandatory on HitBTC, unverified accounts do have certain withdrawal limits in a day.

  • This range of options allows a trader room to explore the market and trade whatever asset they are interested in.
  • They have a listing for more than 400 cryptocurrencies that can be traded as financial assets.
  • One of the main selling points to HitBTC is that the platform offers some of the cheapest fees in the cryptocurrency exchange arena.
  • While this includes a direct bank transfer, the platform does not support debit/credit cards or e-wallets.
  • It also has a lot of useful tips on cryptocurrency trading in general.
  • Nevertheless, HitBTC allows users to deposit funds using real-world money.

Presently, no exchanges operating from the UK is regulated and HitBTC is not an exception. However, there are proposals to commence the regulation of all cryptocurrency exchanges in the UK starting from 2018.

The Rise Of Defi: Powering The Next Crypto Boom

Satisfied users usually praise the exchange functionality and a big number of available trading pairs. Other people mention such flaws as a slow support team and technical shortcomings of the exchange. The next step is moving funds from your main account to a trading account. The action is hitbtc exchange review quite intuitive, you just click on the blue arrow, specify the amount and click a “transfer” button. Then you should proceed to the Exchange tab to create an order. In the Instruments section, you should choose the pair you need and then specify the type of order you are going to place .

hitbtc exchange review

Besides, some customers have complained online that they’ve been unable to withdraw their funds from the trading platform. There’s also the fact that its former, London-based parent company – Hit Techs Ltd. – was dissolved in May 2017, leaving lots of obscure information about the exchange’s team and ownership. One of the more notable rumors surrounding the exchange includes the 2015 hack of BTER and Excoin exchanges. HitBTC hitbtc exchange review also went offline at the same time, but never acknowledged any losses or that it experienced a security breach. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions.

In case you want to deposit cryptocurrency directly into HitBTC using fiat currencies, HitBTC has an effective Changelly integration on its site. Using it, you can buy cryptocurrency instantly with your bank card and send it directly to your HitBTC wallet to start trading immediately. Verified users can create sub-accounts that will help you to create different profiles for different trading strategies. Moreover, HitBTC organizes various trading contests, so you can measure your skills against other traders and climb up the ranks in its leaderboard.

The support team doesn’t leave them over and solve their problems as soon as they have time for that. Some complaints concern the KYC procedure as it may take much time. KYC requires several online encounters with the support team members. In the cases, when each message takes a long time to be answered the withdrawals get delayed as they require the KYC completion. You can find a graph of market depth below the trading page. Green – how much crypto was bought, red – how much was sold. It contains information about new trading pairs on the exchange, the choice of a trading pair, the rate chart of the selected trading pair, the open orders of other users, etc.

Verification Process

Our exchange provides access to more than 500 markets and a safe trading environment. We always recommend reading our Terms of Service and familiarize yourselves with the fee structure before starting using the platform to avoid any surprises. When you compare both exchanges, it seems that Binance has lower fees (0.1% flat) and a better reputation, while HitBTC has a better user interface and a wider selection of features. Many people compare HitBTC to Binance since both exchanges are crypto only and are relatively lenient regarding the coins they list and who they accept as a customer. HitBTC offers a wide variety of currency pairs if you’re looking to trade crypto for crypto. The exchange is also a magnet for many new token offerings. However, the exchange’s shady reputation, and mediocre customer support mark it as unreliable.

Users can also configure their profile to see a record of all previous logins, including IP address and location. This way, they can see if there’s been any fraudulent activity on their account.

Even if hitbtc support asks for support many times, there is no reply at all, only an automatic reply email. It provides an easy-to-use platform so that everyone can confidently buy cryptocurrencies. Coinbase was designed to allow any user to feel comfortable buying cryptocurrencies. Happily, such situations are rather exceptional as most withdrawals are performed smoothly. What’s more important is that people who have to wait for the support team response, eventually get this response.

As you’ll see from the above list, those based in the U.S. are not able to use HitBTC. As such, if you are a U.S. resident, or a U.S. citizen living overseas, then you’ll need to use a different exchange. The likes of Coinbase are much more inclusive of American traders, and they even allow you to fund your account with a debit/credit card or e-wallet. While HitBTC is a global cryptocurrency exchange, and thus, the vast majority of countries are supported, certain restrictions exist.

Benefits Of Using Hitbtc

Hence, if you wanted to withdraw more than the limit that they have on the exchange then you will have to verify your account. For the most part public sentiment favors HitBTC for their simple user interface and high volume trading. However, like any exchange, HitBTC has its positives and negatives that have been expressed by numerous traders. HitBTC started off very well with no complaints for the first 4 years of its operation. However, bitcoin trading the increase in the number of users who trade Bitcoin and other cryptocurrencies seems to have overwhelmed the team and a lot of complaints are being noticed on the internet. While it is too early to say that HitBTC is a scam, one may classify the company as a legit company which has had a few scam reports. Rather, users can visit the exchange’s blog to get more information about all aspects of HitBTC’s cryptocurrency exchange operations.

Users will need to provide their name, social security number, and other documents that prove identity for initial account set-up. For transactions involving a large dollar amount, customers may be asked additional information, such as the banking institution’s name or trade history, as an extra layer of security.

In terms of the largest daily trade volume, the HitBTC platform is currently in the 13th spot. This placement is due to its high liquidity and low fees. Even in the highly competitive crypto exchange world, it maintains its high visibility and retains its track record of having the widest selection of cryptocurrencies available.

hitbtc exchange review

This reason is one of the major reasons they have a lot of customers. Most platforms put the burden of the charges on either the buyer or the seller. The other terms it could be referred to, are maker and taker transactions. These platforms make the burden of the fee difficult for one side of the transaction then free for the other. HitBTC splits the charges or fees between both sides of the transaction.

Other features include auto logouts after 30 minutes of inactivity and cold storage custody. Another criticism is the temporary blocks on certain coin withdrawals, which may take some time to finalize.

The Marriage Of Blockchain And Iot: A Market Overview

Once you are happy with the figures showing in the trading box, click on the green ‘Buy Limit’ button to complete your trade. As HitBTC has one of the largest trading volumes in the industry, your trade should be executed in a few seconds. These fees are extremely competitive, meaning that the platform is potentially suitable for high-frequency traders.

It means that you make your deal directly with the counterparty without affecting the market price of the coin or token. As more exchanges come under the scrutiny of regulators, verified accounts are slowly becoming mandatory.