But negative reviews about support, a long verification process, and confusing interface mean it isn’t the best place to start. Now that you have created your HitBTC account, you will now need to deposit some funds. If you want to deposit funds using a bank account, you will need to go through a verification process. This can take quite a while at HitBTC, so we’ll show you how to deposit using a cryptocurrency. The reason for this is that you don’t need to verify your identity, and it usually takes no more than 20 minutes for the funds to show in your HitBTC account.
Choose the right kind of cryptocurrency exchange for daily trading volumes and HitBTC lists several hundreds of crypto coins with highly competitive fees. Established in 2013, HitBTC has been around for a long time in cryptocurrency terms. This popular digital currency exchange offers crypto-to-crypto trading on more than 300 coins and tokens, including many major currencies and a host of rarer altcoins. It doesn’t charge any deposit or withdrawal limits and also offers an over-the-counter service for customers who want to place trades of US$100,000 or more. ItBTC is one of the world’s top cryptocurrency exchanges in terms of trading volume, supported crypto coins, trading fees, and a diversity of the available features.
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To get in touch with the support team, you can submit an online request. However, many users have complained about the platform’s slow response times when dealing with customer queries and complaints.
- Let us talk aboutHitBTC.comto see what they bring to the table and how advanced they really are from their competitors.
- 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.
- With recent updates to Kraken’s user experience, it has completely turned around the way users think about the exchange.
- However, there is no deposit fee for using cryptocurrency; it charges withdrawal fees for placing orders or withdrawing more money from the platform.
- Personally, I would choose Binance since I value reputation more than anything, however it really depends on your needs.
Their core-matching engine includes superior order matching algorithms and real-time clearing. Review Loads of cryptocurrency and blockchain project reviews for your education. It has no mobile app, although it does offer third-party APIs for mobile phones, a dedicated app would be better! This means that you can only access through a web browser on your phone, which frankly we would advise against or via a computer, this all means that you can’t trade on the go. For a beginner, we would not advise trading on the go but for experts, they will want this functionality. The interface might be good for expert traders, but it is not meant for newbies or first-timers. They will find it extremely confusing and might even experience a loss if not used properly.
As per the HitBTC reviews, the platform now has over $300m in trading volume. Now it’s time to tell you how you do the deposit and trade on HitBTC. The exchange forces no limits over the deposit and withdrawal amounts.
Hi there, while we don't have a specific ETA, the team is in the process of upgrading the system to bring new features and imrpove existing functionality. You can review the status of all coins and tokens via the System Monitor page here: https://t.co/hYqrVrMl7Z
— HitBTC (@hitbtc) December 10, 2021
Few exchanges have been around as long as HitBTC, which makes it all the more impressive how it has weathered the volatile history of the crypto market. Combining each of these individual components, HitBTC features a holistic trading experience that makes you feel right at home.
Hitbtc Review: Verification Process
You can activate it when logging in, withdrawing funds, and adjusting settings. HitBTC brands itself as a highly advanced exchange for a variety of Altcoins including DASH, ZEC, EOS and BTS.
HitBTC is considered a secured exchange, and it is one of the few exchanges that have not undergone hacking before. After you sign up and connect your first exchange account, you’ll deploy an investment-maximizing strategy in as few as 5-minutes. Each day Shrimpy executes over 200,000 automated trades on behalf of our investor community. Next, we will walk through the process of retrieving your API keys. Select a username and password.After selecting a username and password, you will be asked to select a country of residence as well as enter your full name and phone number. Throughout the rest of the review, we won’t have too many other negative points to hammer on, so if you’re looking for something negative to believe about HitBTC, this is about it.
As for reviews… Those who post bad reviews also could be trolls. They might just get money for posting ‘something’ ‘somewhere’ to own their living. It is bad to loose money whilst trading, but stealing your hard earned money is more painful, and I don’t wish anyone to suffer that or learn in the hard way. Take my advise and don’t keep your money in an exchange, alternatively you may external wallet which is controlled by you and not an exchange. I don’t believe its a scam but suffer serious deficiency in their level of support and commitment toward traders. It’s better to move your funds to one of the reliable alternative exchanges.
HitBTC offers a wide variety of currency pairs if you’re looking to trade crypto for crypto. However, the exchange’s shady reputation, and mediocre customer support mark it as unreliable. Trading Fee Discounts – HitBTC offers trading fee discounts to high volume traders who upgrade their accounts by completing a KYC check. Not long after its launch in 2015, HitBTC went offline for a short period of time. During this event, some users complained that they couldn’t withdraw funds from the exchange.
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. Not only do they hold two regulatory licenses, but the platform is simple to use, it allows you deposit funds using multiple fiat options, and you can even short coins.
Choosing the wrong address means funds may not be retrieved. It was originally started with a six million euro investment, and was a true group effort between traders, developers, and investors. It was started with the goal of creating an advanced trading platform for professional traders. HitBTC is a global platform that bills itself as “the most advanced Bitcoin exchange”. It is well known for low fees, a rapid trade engine, and a vast range of currency pairs.
The foundation is the most important aspect of a reliable crypto exchange and that’s something HitBTC is definitely lacking. HitBTC provides standard security measures including 2-factor authentication, email confirmation, and other options. You should keep it in mind that no one but you will take care of the safety of your assets. All HitBTC does is providing users with the proper tools of hitbtc review security, but it’s up to customers to use these tools. Another trading feature available on HitBTC is OTC trading or “over the counter” trading, which means high-volume trading that doesn’t show up in the order books. In OTC the traders make a deal directly without affecting the market price of the asset. The trading fee for OTC is 0.1% and the deals should be worth at least 100,000 USDT .
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Bitmart is a scam. Many users can’t withdraw and their accounts has frozen without reason.
Some users have even started a petition against the low-level service HitBTC is supplying. The first time I tried to withdraw my affiliate Bitcoin balance from HitBTC I had 0.25BTC waiting for withdrawal + another $600. By your side 24 hours a day, our support team will assist you with any issue or question you may have. Blockfer serves as your bridge from the traditional to blockchain finance world. Our expert reviews, guides, comparisons, and tools bring value and education to investors of all experience levels. HitBTC Support Center provides a lot of answers to FAQs you might have about the exchange.
The other way that crypto users can keep themselves safe when using these companies is to never keep their coins on the exchange. In fact, a major cryptocurrency exchange hack seems to happen once a month, if not more often. When you buy coins from a trusted exchange, send them to a high quality crypto wallet. Choose a wallet where you own the keys, and use cold wallet options like Paper wallets and hardware wallets whenever possible. HitBTC was founded by using 6 million euros of venture capital money.
ALL CoinCentral Daily All CoinCentral articles, guides, news, press releases and reviews. A request to settle a debt, taxes or other amount owing and to send money via courier, prepaid bank card or gift card. While it seems that HitBTC has all the features that make it look impressive from the outside, there were a number of things that we were less than impressed with. On this page, users can view key metrics for the system’s performance and availability, including live statistics of incoming/outgoing transactions.
We show reviews chronologically, and you can filter by star rating, language, location, or keyword. According to their website, Hitbtc is located in Hong Kong, with their offices in Chile too. The postal address of Hitbtc is Unit 19, 7/F., One Midtown No.11 Hoi Shing Road, Tsuen Wan, New Territories, Hong Kong. However, some sources were claiming that HitBTC was hacked with BTER and Excoin. In the next move, you have to enter your residence, full name, and telephone number.
Blockfer.com is an independently owned and operated blockchain finance education and resource service. Blockfer receives compensation from select affiliations in exchange for sponsored listings, product placements, and referred users. Blockfer does not include, review, or compare any blockchain finance related service or product that does not meet our reputability standards.
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In any event, you should never leave a large amount of coins on an exchange irrespective of its reputation. For those traders of you that would like to use their advanced API, then the market making functionality could be an attractive addition. Below is a table of the market maker contracts that are available at HitBTC.
Is HitBTC safe?
Overall, HitBTC is a secure exchange in terms of technology it uses to protect your funds. However, the exchange lacks transparency when it comes to its team and location, which is a major red flag for some.
You will then see your unique deposit address for the coin you want to fund your account with. Click on the blue ‘Copy’ button to copy the wallet address to your clipboard. Then head over to your private wallet, paste the HitBTC wallet address in, and transfer the funds. While HitBTC is a global cryptocurrency exchange, and thus, the vast majority of countries are supported, certain restrictions exist. Nevertheless, if you’re thinking about opening an account with HitBTC, be sure to read our comprehensive review first. We’ve covered everything from fees, regulation, supported coins and countries, user-friendliness, and more. When the user is on the trading screen and has the necessary funds, they can proceed with trading.
Author: Tom Farren