After solving a captcha, you’ll need to confirm your email address by clicking a link sent via email. To initiate a transaction, copy and paste your wallet address into a third-party service. This vast selection of trading options makes HitBTC a comprehensive platform that allows for trading even lesser-known altcoins.
This is true for investors and crypto businesses alike, as they both need to operate carefully and strategically in order to stay afloat when the next volatile wave hits the market. No, HitBTC is one of the few exchanges that has not been hacked till now. Small commissions are also attracted by the fact that you do not need to go through the procedure of confirming your identity – you can remain an almost anonymous user . As soon as everything set up – click “Buy Limit” – an order is created. Once it is completed, BTC will automatically be withdrawn from your wallet, and ETH will automatically be credited. Look at how many coins we have – how much we can buy ETH for.
However, once again, this is best suited for those with an advanced knowledge of trading. 68% of retail investors lose money when trading CFDs with this provider. Hitbtc is most secure exchange till now as of my experience. For some cryptocurrencies, you will also need to copy and paste your payment ID that’s also called “Destination Tag”.
About HitBTC
I think the extensive verification process, solid reputation, advanced security measures, and increasing trade volume all answer the question “is HitBTC a scam? If you want access to fiat and higher limits, verification is necessary. It isn’t easy, but it is well worth it for professional https://forex-review.net/ traders. First, navigate to the verification requirements so they are in full view. 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.
- Everyone can try out its platform without making a deposit.
- This blockchain is aimed at solving the protracted scalability problems of Ethereum.
- In early 2019, just a few days prior to the annual “Proof of Keys†event, HitBTC came under fire for disabling user withdrawals.
- Users of HitBTC can utilize trading bots, which operate well with the platform’s strong API.
- Many of these tokens were distributed among the early dYdX platform adopters via an airdrop.
- It is one of the largest Spot trading markets with more than 500 digital assets and 800+ trading pairs.
The app generates one-time short passwords that can be used in 30 seconds. Every time someone is trying to log in or do some critical actions , the exchange requests the actual password that can be retrieved only from the app installed on a single device. No one except for the account owner can’t log in or at least can’t do that without taking a user’s mobile device. Another 2fa option is using a Yubikey device, a physical USB key for authorized access to accounts. The company boasts zero account hacks among people or organizations using Yubikey. The devices exist in numerous shapes and sizes so HitBTC traders wishing to make 2fa easier and safer will be able to find the best option or even choose a custom variant.
A-Z of Bitcoin Exchanges
Furthermore, there is a huge number of negative reviews about HitBTC, many of which centre on hacked accounts. If it is, which once again cannot be proved, then it is very alarming if HitBTC decided not to make the hacks public knowledge. For us, there are just too many negative reviews about the platform, and thus, we cannot endorse HitBTC as a safe exchange to deposit money with. 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.
There is a plethora of charting functionality, analysis tools as technical indicators. The MT4 platform is no doubt one for professional traders who do a great deal of technical analysis. Plus, we can’t neglect that unsatisfactory customer support and bad reputation.
Nevertheless, it also has numerous concerns surrounding it, which we address further in this HitBTC review. 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. OTC Trading – HitBTC offers Over The Counter trading for people looking to sell or buy large amounts of Bitcoin or other cryptocurrencies (over $100K).
I’ve already covered it quite a bit, but to reiterate this important point, HitBTC is popular with professional traders. 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.
Like many other cryptocurrency exchanges, HitBTC has opted for trading fee tiers, meaning that fees are directly dependent on the trading volume of each user. However, there are three account types, these being starter, general, and upgraded. It’s only the upgraded account type that provides variable trading fees, granted that starter and general account holders must pay a standard 0.1% maker fee and 0.25% taker fee. If you have ever used a cryptocurrency exchange before, then HitBTC works in exactly the same way.
HIT Token
Still, they require a lot of verification to start trading large amounts. In general, they employ state of the art cryptography for your security. There’s a fast engine, low commission fees, 150 instruments, and a highly detailed interface for pro traders. Despite a clean and efficient-looking ticketing system, there are more negative reviews for support than positive ones. The trader claimed that HitBTC has locked his mother’s account and was not allowing her to withdraw her funds. This was after repeated attempts by the trader’s mother to get her account unfrozen.
Every negative about HitBTC is in regards to support and long wait times. If you want better customer support, more anonymity, or beginner-friendliness, there are plenty of alternatives to HitBTC around the web. This is really the only beginner-friendly feature hitbtc exchange review that I found. It allows you to make trades and become acquainted with the settings and interface. All transactions made won’t count, so you won’t risk lightening your wallet. HitBTC has some of the most in-depth and trader-friendly features on the market.
Don’t think you’re now in the know from reading reviews and join. They will find a way to screw you over in the future because they’re unethical. They were attractive because they sell coins that are not on Coinbase but it’s NOT WORTH IT!!! I joined HitBTC in 2018 and didn’t have any real issues for a few years, albeit I only joined to buy LOC and only accessed my account periodically to check they were still there. So I can’t comment on the difficulties with withdrawals that others have mentioned.
HitBTC Customer Support
The user can add their preferred cryptocurrencies, like Bitcoin, Ethereum, USDT, etc., by scanning the QR code generated by the platform. HitBTC is a European Bitcoin exchange that started its project with 6 million received as venture capital in 2013 in Hong Kong. This platform offers its services globally without any restrictions. Like many other huge exchanges, HitBTC has a problem with the support team response delays. It doesn’t happen all the time, however, some users complain that they have to wait for their queries to be answered for hours or days. HitBTC is a global trading platform with multi-currency support, operating since 2013.
HitBTC Trading Platform
For the beginners, HitBTC exchange offers an opportunity to try and trade cryptocurrencies on its demo platform first. You can register and access the demo platform by clicking the demo option at the bottom of the screen or by simply typing demo.hitbtc.com into your browser. 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. Besides, some customers have complained online that they’ve been unable to withdraw their funds from the trading platform.
First, you enter an email and password on the Sign-up page. 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. HitBTC did experience a hack in 2015, but have been mostly secure ever since.
