HitBTC exchange has a high end cold storage wallet to protect users’ funds stored on the exchange. HitBTC is the 14th largest cryptocurrency exchange in the world. HitBTC offers numerous trading pairs for trading on HitBTC with leverage. HitBTC exchange offers an affiliate program where the traders can earn through referrals. This platform offers several rewards to their affiliates, thereby offering a good passive income for them.

The fees structure of HitBTC exchange is different and fairly competitive when compared to other exchanges out there. They charge 0.1% from takers , and they provide 0.01% rebate to makers . This mechanism or design is followed nowhere else and very much a way of inviting users to buy and not to sell their coins. Every exchange charges both sides of the trade-in some form or another but HitBTC is the only one to offer a rebate when buying.

Fee Structure

This is not bad for a Bitcoin website because in most cases you are unable to get any results from Wikipedia when you search for Bitcoin websites. HitBTC is a leading European Bitcoin exchange and they claim to be the world’s most advanced Bitcoin exchange. Let us talk aboutHitBTC.comto see what they bring to the table and how advanced they really are from their competitors. Every negative about HitBTC is in regards to support and long wait times. There is NO FIAT TRADING. You cannot work with USD, EUR, or any other real-world currency. This makes it not beginner-friendly and extremely restrictive.

• Whatever the case, new users should stay well away from HitBTC.
• Each day Shrimpy executes over 200,000 automated trades on behalf of our investor community.
• We will never sell or distribute your data to any third parties.
• However, unregulated anonymous exchanges in obscure locations do attract their share of critics.
• For the next couple of years, things went smoothly for the most part.
• It means that makers are charged with smaller commissions than takers.
• When it underwent the designing phase, the emphasis was solely laid on simplicity and easy to use interface for its users.

To do this, the user should select the main currency which is available in the header of the chart along with the choice of trading pair. If the user wants to deposit funds to their HitBTC account, they should first generate a wallet address. Then they need to click the deposit button identified in green color. The user needs to select the corresponding row they wish to deposit and click “fund.” When this is done, the user gets a wallet address with numbers and letters along with a QR code. New traders can try out this platform using this demo account without making any deposits. According to several reviews, this platform offers low trading fees; the Maker fee is 0.1%, and the taker fees are 0.25%. The process of depositing and withdrawing is simple and straightforward.

How To Register With Hitbtc?

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 security, but it’s up to customers to use these tools.

• During this event, some users complained that they couldn’t withdraw funds from the exchange.
• With so many different assets, people may begin to question if there is a point at which an exchange has listed too many assets.
• BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.
• Any time day or night, it’s possible to get your tickets resolved.
• If you want access to fiat and higher limits, verification is necessary.

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. For one, it lets users set up two-factor authentication for all their transactions, adding an extra layer of safety. The Security section of the Settings menu also allows the user to see all logins to their account so that they can check to see if there’s an IP address and/or location they don’t recognize. And just in case someone else happens to be logged into their account, they can click a button that terminates all sessions except theirs.

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Then enter your personal information and user id after which you can reset your password. HitBTC does not ask KYC procedure from every trader, but it will ask the traders to read their terms and conditions before using their platform. HitBTC offers the highest level of security using 2FA and advanced encryption technology. HitBTC is considered a secured exchange, and it is one of the few exchanges that have not undergone hacking before. You can directly click here to open the support ticket of HitBTC. Another option is to scroll down till the end of the Home page and select the “Support Center.” In the support center, you will see a “Contact Us” button.

Starting with the BTC trading volume, makers get a reward of 0.01% per trade. Rewarding traders instead of charging them with fees is a very rare feature. However, as you can see, it only benefits the high-volume traders. All in all, trading fees on HitBTC are the best on the market or nearly the best. It means that makers are charged with smaller commissions than takers. More than that, makers with high trading volume can avoid paying fees or even start getting rewards for their trades instead of paying commissions.

Hitbtc Reviews

You are allowed a 25,000 EUR daily withdrawal limit of crypto. For fiat currency, there’s a limit of $2000 per week and $10,000 per month – both for withdrawals and deposits. The third level is a qualified account, which allows you to withdraw more than $25,000 worth of crypto each day. The fiat withdrawals and deposits allowed for qualified accounts are $10,000 per week and around $50,000 per month. Qualifiedaccounts– In the final tier you do not need to pay for any crypto deposits. You might want to apply for this verification tier if you think that $25,000 worth of cryptocurrency withdrawal is not enough for you. This account can withdraw more than $25,000 worth of crypto currency per day.

Some coins may need a payment ID to withdraw – if this isn’t needed then that field can be left blank. Click on the ‘confirm withdrawal’ payment and wait for a confirmation email to arrive in your inbox. By following the link in the email, your withdrawal will be processed. Although HitBTC seems like a secure platform, this wasn’t always the case. Two years after the company was founded in 2013, it went offline for a short while. During this time, users were left unable to withdraw their funds and were faced with a lengthy waiting time anticipating the clearance of their withdrawal. HitBTC scams started featuring in HitBTC reviews, but the issue was found to be caused by technical issues and has since been resolved.

Customer Support And Review

Currently, completing the KYC procedure is a must on HitBTC. One cannot deposit any money before providing the requested personal data. HitBTC Support CenterAnother issue is that the support team may respond with delays from time to time. No surprise, people get nervous when they search for help and the support team is not answering for several days. When both issues that I’ve mentioned come together, the situation looks even worse. This type of order means that the trade will be executed only for a certain price or a better one. If you place a buy order you name the highest possible price at which you consent to buy an asset so you buy at this price or lower.

This platform is best-known for being a robot-friendly exchange. Thanks to this feature, this exchange is more attractive to trading bot developers. Then, choose the currency you wish deposit and click the icon. Remember, in order to deposit fiat currency, you must get verified. hitbtc review HitBTC is extremely popular among traders for its low commission and favorable rebate offering. Basically, if you make an order that increases the liquidity on the site, you get a rebate of .1% on that transaction. If you decrease the liquidity, you get charged a .1% commission.

Both these features are pretty standard across the exchange industry. They only charge 0.1% on every market trade and LP orders have a 0.01% rebate. Despite being the 5th largest trader by volume and one of the most advanced platforms on the web, reviews have not been kind to 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 traders. First, navigate to the verification requirements so they are in full view.

Please follow instructions listed on application’s support page. Application uses official Web API, provided by HitBTC Exchange for access public and private data. Mobile HitBTC – NOT an official application provided by HitBTC Exchange team. However, HitBTC’s official mailing address on its site is that of Hong Kong, while the exchange’s operations remain completely online just like its other counterparts. The time to use cash to fund account takesup to 14workingdays. With thegeneral levelyou will be able to top up electronic money on the floor.

Coinbase Pro Review

There are no fees for deposits except for the network transaction fee for each cryptocurrency, but the withdrawal fee depends upon the cryptocurrency that is being withdrawn. “The world’s largest and most advanced cryptocurrency trading platform” —or so they say. Despite the well publicized hack, the company takes security seriously.

Don’t just read large reviews from popular websites, as these reviews might be bought and paid for, with the writer having to say certain things to please the paying advertisers. In addition, look at forums like Reddit and Bitcointalk, to find out what real people are saying about services like HitBTC.

The more information you add, the higher the verification level you reach. The higher the level the more will be the advantages you will get. HitBTC exchange does not have a minimum deposit, which means you can start trading with small amounts before you get more confident. Only after going through these help articles do the users get to receive an option to connect to the support team through a contact form, after which their question is answered accordingly. To clarify, a user is branded as a market maker when they enter an order which adds to the liquidity of the market, such as a sell order which doesn’t meet the requirements right away. Despite this, HitBTC has gone on to be an operational exchange since around 5 years and remains one of the prime spots for newer cryptocurrencies.

However, it does have some transparency issues, which put red flags on this exchange. Therefore, it depends on you and your risk tolerance level – Whether to trade on it with completing the KYC and regulating extra securities or not? Just remember the golden rule – never trade more money than you can afford to lose, and go with your gut feelings. A Ticketing feature, which allows users to contact the HitBTC support team directly. Transactions through Debit and Credit card is not available in HitBTC, so no fees for that.

For those looking to deposit fiat directly via HitBTC, this option is apparently no longer available. There are a few reviews written previously that say fiat currencies are supported. However, the exchange website now says it does not offer fiat deposits. However, you can buy Bitcoin using your Visa or Mastercard on another exchange called Changelly, which has partnered with HitBTC to offer this service.

• However, the exchange didn’t make a big deal out of the situation.
• Basically, if you make an order that increases the liquidity on the site, you get a rebate of .1% on that transaction.
• Click on the button below and fill the online form with your email address, name, and choose a secure password.
• They specialize in selling bitcoins for credit card to nearly anyone in the world.
• While it is a positive that HitBTC does have a social media option for addressing customer issues , there have often been queues of unanswered questions at times.
• HitBTC functions as a conventional cryptocurrency exchange with a focus on altcoins, where it lists some of the newest coins and tokens that hit the market.

HitBTC remains an important part of the cryptocurrency trading industry. These days, when Bitcoin and most cryptocurrencies have finally recovered from the bearish 2018, people should learn about HitBTC new policies and its current pros and cons. HitBTC was founded by using 6 million euros of venture capital money. It has not been revealed yet, who was the founder of this website, or the mastermind of this platform. It looks to simply be a venture by a company who thought it would be a good idea to start a cryptocurrency exchange. The Chicago based company, Hit Tech limited were responsible for HitBTC.

Author: Adrian Zmudzinski