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Forex Trading

However, what you should know is that the higher amounts you trade, the lower your fees will be. You can choose from more than 380 cryptocurrencies and over 800 crypto pairs. That being said, even if you’re a fan of less popular coins, the chances of finding them on HitBTC are truly high. Since cryptocurrency popularity is growing you can find such a variety of platforms that allow you to buy, sell and trade cryptocurrencies. While having more options is a good thing, you might also encounter some issues when choosing a cryptocurrency trading platform for your needs.

The exchange keeps on adding new coins to its roster giving a chance of entering the big market for the new crypto projects. More than that, now HitBTC allows people to buy crypto coins with fiat money. 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.

The biggest difference between HitBTC and other exchanges is the way in which funds are categorized on the “account” tab. This is because HitBTC gives each user two accounts (main account and trading account), which both have different functionalities. The exchange is best suited for advanced users, but beginners can also get the hang of it in due time. While HitBTC was initially designed to serve as a fiat-enabled cryptocurrency exchange, it has removed many of its fiat integrations due to regulatory concerns.

All you need to do to get started is register a Bitcoin account, deposit some funds, and then proceed with your cryptocurrency purchase. If you then plan on keeping hold of your coins long-term, you should consider withdrawing them to private Bitcoin wallet , as opposed to keeping them in your online HitBTC wallet. Nevertheless, HitBTC allows users to deposit funds using real-world money. While this includes a direct bank transfer, the platform does not support debit/credit cards or e-wallets. One of the main selling points to HitBTC is that the platform offers some of the cheapest fees in the cryptocurrency exchange arena.

  1. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein.
  2. When we performed a like-for-like comparison with Coinbase, we felt the platform was a much better option if you’re looking to buy and sell crypto.
  3. You can also go to the ‘Markets’ page to view all the latest prices and trading volumes of the last 24 hours for the crypto currencies available.
  4. There is a limit to buying, selling, and withdrawing if you are not having a verified account.
  5. HitBTC even accepted fiat payments from some non-European countries, offering access to a host of new users who were not served by HitBTC’s well-known competitors.

After creating the account, the user should proceed with HitBTC login and deposit funds. 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 also provides a development guide for its API, thus making it easier for programmers to develop supportable trading systems. HitBTC and Bittrex are two of the largest trading platforms on the market. Both have solid reputations and are desirable for currency traders.

HitBTC vs BingX (Bingbon)

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. All these opportunities together with the security measures I’ve mentioned make HitBTC trading experience rather a safe one. https://forex-review.net/hitbtc-review/ As soon as you provide all of this information and confirm your email address, HitBTC sends the Privacy Policy message. After you consent HitBTC to collect certain data you are free to start using HitBTC. Mostly registration takes as much time as you need to read the text of Privacy Policy.

Deposit & Withdrawal Methods

The advantageous difference between a cryptocurrency exchange with such a relatively long history and most of the other platforms of the cryptocurrency world is that it has never been hacked. There is no option to deposit fiat money on HitBTC, however, registered users can buy cryptocurrencies on the platform. In this case, the fees are set by payment providers — MoonPay and Banxa.

Users have reported receiving conflicting pieces of advice in badly broken English. Account security issues aren’t escalated or dealt with appropriately to their severity. CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. The Ullus Corporation has managed and operated the HitBTC trading platform since its foundation in 2013.

BitFlyer Exchange Review: The Inside Scoop on Features, Fees, and Security

While the verified users fall into the category of the HitBTC tier fee system that determines the higher trading fee tier system depending on the trading volume carried out in the past 30 days. Users are able to enhance their exposure to the crypto market by placing margin-backed trades, which entail trading via borrowed funds. Through this strategy, traders can increase the value of their deposit through the means of collateral, thereby accessing a higher profitability potential.

HitBTC Review: Final Thoughts

Another 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 https://forex-review.net/ several days. When both issues that I’ve mentioned come together, the situation looks even worse. Often it’s some mix of positive and negative information about the exchange.

The other huge liquidity coins on HitBTC are Cardano (ADA) with $330 million, Ethereum (ETH) with over $200, XRP, and Litecoin. As of February 2021, the exchange supports 422 coins and offers 947 trading pairs. Despite their issues, the exchange still has a high turnover rate and could be a viable option for anyone looking for exotic coins, and does not take their security seriously. The general account, which doesn’t require verification, has a daily withdrawal limit of the equivalent of 5000 EUR in cryptocurrency. You are allowed a 25,000 EUR daily withdrawal limit of crypto. For fiat currency, there’s a limit of $2000 (EUR or USD) per week and $10,000 per month – both for withdrawals and deposits.

Of course, many people will argue the fact that the exchange can freeze funds whenever it sees fit is a negative when considering security. The ‘main account’ is designed to be a place where you can store your cryptocurrency funds. You’ll have to first transfer them to the ‘trading account’, which is designed specifically for trading and not for storing funds. Yes, the HitBTC platform has mobile apps for both Android and iOS platforms. The HitBTC Android App and the HitBTC iOS App carry the same features as the HitBTC exchange platform with a more portable-minded service. In the chart, the users should choose a currency they want to trade from the list.

HitBTC Reviews: Final Thoughts

It is well known for low fees, a rapid trade engine, and a vast range of currency pairs. The exchange has highly liquid markets for trading digital assets, tokens, and fiat currency (USD, EUR, etc.). Some of the plus points of HitBTC are it has 450+ digital assets with more than 960+ trading pairs. Secondly, it uses a maker-taker model for calculating trading fees and also considers trading volume and HIT holdings while calculating your trading fees. The more HIT tokens you hold or use in pair trading, the more discounted the trading price.

There are several users claiming that their HitBTC was hacked but the company remains silent on this issue. There is no formal disclosure of company employees’ strengths and other details. You will only need to verify your identity at HitBTC if you want to deposit and withdraw funds using a bank wire. You might need to send some ID in if you are trading significant amounts, too.

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. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

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