If you completed each of these steps you managed to successfully deposit funds into your HitBTC account. Now, since HitBTC has multiple security measures, it might take a while for you to create your account and verify identity. The information that you will have to provide includes your personal information, residential address, proof of identity, selfie and phone number. 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. 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.
- But for every negative review, there was a positive one from a trusted source.
- As such, trading on HitBTC may not be too difficult even for complete beginners.
- Another interesting feature that can be especially helpful for people who do their first steps in cryptocurrency trading or in using HitBTC API is demo mode.
- They do not give specific date on when the “maintenance” will be completed.
As we noted earlier, HitBTC is popular with traders because of the number of coins it supports on its platform. HitBTC is also a common choice for newly created tokens that are looking to list on an exchange post-ICO.
Despite a clean and efficient-looking ticketing system, there are more negative reviews for support than positive ones. Two-step authentication, advanced encryption, and a relatively clean track record are all pros for HitBTC. The interface, longer wait times, and range of instruments may be negatives for newcomers. Still, any exchange with the most cutting-edge technology is going to attract traders.
- When considering cryptocurrency exchange rankings, though, both of these types of businesses are usually just thrown under the umbrella term – exchange.
- Like many other cryptocurrency platforms these days, HitBTC has some technical flaws.
- HitBTC now has one of the largest “Unverified Markets” lists on CoinMarketCap.
- HitBTC offers a range of APIs such as REST, WebSocket, FIX API. The UI was developed to meet the needs of the most demanding and sophisticated traders.
- In the next move, you have to enter your residence, full name, and telephone number.
They also have options that let them automatically log out of all the sessions at a regular period. Although HitBTC meets and enforces regulations related to anti-money laundering for those depositing with real world funds, the platform is not regulated by any licensing bodies.
In this in-depth HitBTC review we will dig into the exchange fees, services, customer support, trading, and much more. HitBTC’s API is robot-friendly; the trader can use the trading bot. This platform is friendly to the users who are involved in creating trading bots. The robot-friendly API of HitBTC uses low latency data for the cryptocurrency market. Users can find more information on API and API documentation on the website. 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%.
Firstly, the platform is not in any way regulated, which is a major concern considering they’ve been around since 2013. Furthermore, there is a huge number of negative reviews about HitBTC, many of which centre on hacked accounts. Nevertheless, once the app is up and running, you will be able to trade on the move, deposit and withdraw funds, track price changes, and more. If it is, which once again cannot be proved, then it is very alarming if HitBTC decided not to make the hacks public knowledge.
Making A Deposit And Trading
A limit order is put on the market by a user who wants to execute a trade at a specific price. When a buy or sell order is matched according to the posted order type, the trade gets completed. A market order is posted when the buyer or seller wants the order to be executed at the current market price. This is by far the simplest order to post and remains as the primary choice for new traders.
During this event, some users complained that they couldn’t withdraw funds from the exchange. This was presumed to have been caused by the exchange freezing user funds as a security precaution after another exchange called Bter had funds stolen during a hack. Overall, the HitBTC incident of 2015 wasn’t a major problem.
In 2019, the exchange added such a feature as sub-accounts that made it much easier to manage trading for corporate clients. Another recently added feature is margin trading available for dozens of coins. It can be used to practice trading without risks before starting to trade real money.
HitBTC has Over The Counter trading services for high-volume traders. OTC traders happen due to the result of the partnership with TrustedVolumes. To use this feature, users must exchange over 100,000 USD per trade, and hitbtc review each trade will incur a 0.1% transaction fee. Although HitBTC used to support fiat currencies like USD, it does not keep it anymore. However, users can still buy supported 800 different crypto assets on the exchange.
What Information Can Be Requested By Hitbtc?
If they are using a bank transfer to deposit funds, they should undergo a verification process which will take some time. If they are depositing using cryptocurrencies, the user need not verify their identity, and it takes not more than 20 minutes for the funds to show up in their account. HitBTC website’s main page offers several basic information and displays trading charts accompanied by the various cryptocurrency trading volumes. Aside from trading volume, it contains information like exchange rate, changes in the latest market price, offer to buy or sell, trading volume for 24 hours, and several more. The next step is to deposit funds into the trading account using the different payment options offered by HitBTC. The user can add their preferred cryptocurrencies like Bitcoin, Ethereum, USDT, etc., by scanning the QR code generated by the platform.
To deposit pre-purchased coins, you must check that the platform supports the coin you want to deposit. Otherwise, you can purchase BTC using your Visa or Mastercard. Go to your account page and use the green deposit button to begin the process. Using the search bar, find your cryptocurrency and click on ‘create new’. Copy your address to use it to initiate a transaction on the platform where your money is held.
Is Hitbtc Exchange Safe And Secure?
Extensive knowledgeable articles about HitBTC platform features and how users can make a profit by using them. On the top right-hand side of their home will be the “Sign up” button.
- The interface, longer wait times, and range of instruments may be negatives for newcomers.
- If the trader liquidates a trade position for reaching the liquidation price, HitBTC charges a liquidation fee of 0.5% of the position value in the quoted currency.
- – Trading cryptocurrencies is a complex instrument and comes with a high risk of losing money rapidly due to leverage.
- When you try to withdraw, it says system “maintenance” for this coin.
- The views expressed on this blog are based on personal opinion and experience, and should not be considered as professional financial investment advice.
HitBTC’s support centre is the main form of customer service provided to users. With an absence of a live chat feature, customers can be left feeling frustrated if their query isn’t solved quickly.
If you want better customer support, more anonymity, or beginner-friendliness, there are plenty of alternatives to HitBTC around the web. In this review, I’ll cover everything you need to know about this London-based exchange. After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. Keep updated with our round the clock and in-depth cryptocurrency news. CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.
An extensive knowledgebase comprised of articles about all HitBTC platform features. Trades might also be happy to start using the HitBTC mobile app for iOS and Android devices. The app is available on Google Play Store and Apple’s App Store. Also, the exchange employs a sophisticated legal team and complies with GDPR regulations, thus giving you full control over your data and privacy. HitBTC remains one of a few exchanges that hasn’t been hacked before. The user has not previously been restricted or banned from using HitBTC services.
@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
HitBTC is available in almost all countries except Syria, Sudan, Cuba, the United States, Crimea, and North Korea. This platform has a wide global reach where the traders can access the platform from their country of residence. The above countries are barred from accessing this exchange because of regulatory provisions or financial restrictions. HitBTC fees are low when compared with trading fees of other exchanges.
Many others also reveal that their grievances are still pending. This huge array makes it one exchange for all, it will have all the big ones; bitcoin, ethereum etc and also lots of the new up and coming coins; reddcoin, golem etc.
Author: William Watts