Hitbtc Review 2021 » Is Trading With Hitbtc Safe?

how to use hitbtc

Mostly registration takes as much time as you need to read the text of Privacy Policy. 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. HitBTC charges just 0.1% in trading fees, which makes it very competitively priced.

  • To complete a HitBTC withdrawal, the coin needs to be held on the users trading or main account.
  • The KYC designed by HitBTC has proven to be a fraudulent scheme to hold traders funds on an indefinite basis, even though users are complying with everything which is being asked of them.
  • You can set up the two-factor verification via the “Security” tab of “Settings,” activating it for withdrawals, logging in, and/or adjusting your settings.
  • Exchange giant Binance added more than 250,000 users in a single day last year!
  • Recently HitBTC updated its fees policy and started to follow international AML/KYC rules.
  • Moreover, HitBTC organizes various trading contests, so you can measure your skills against other traders and climb up the ranks in its leaderboard.

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. If you want access to fiat and higher limits, verification is necessary.

Company Information

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.

For both WebSocket and REST API, user authentication is required, that means a unique user must be registered and verified before being able to perform trading through APIs. Common causes for this to happen include any non-human interaction with the website such as scraping or embedding. As a result, you have been temporary blocked from accessing the website. After completing this captcha request, you can continue to access the site as normal. We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date. For some cryptocurrencies, you will also need to copy and paste your payment ID that’s also called “Destination Tag”.

  • As soon as the deposited funds show up in your HitBTC account, you can make your first trade.
  • As soon as they choose the currency, the page refreshes automatically and shows the information about the selected trading pair.
  • Before making financial investment decisions, do consult your financial advisor.
  • It has multiple strategies in place to keep your information and account safe.
  • Then, go to your private wallet, paste that address, and transfer your funds.

We write product reviews and comparison articles in the field of cryptocurrency. However, it does have some transparency issues, which put red flags on this exchange.

Order Types Offered By Hitbtc

If you haven’t done that before, you could make trades that would bring you huge losses. To avoid that, it’s important to figure out how the platform works first.

how to use hitbtc

In 2020 the app finally became available in the App Store. The same year, HitBTC released a demo trading interface. It can be used to practice trading without risks before starting to trade real money. 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. Choose the right kind of cryptocurrency exchange for daily trading volumes and HitBTC lists several hundreds of crypto coins with highly competitive fees.

Binance

Just because one or two employees do something bad, doesn’t mean that a company is corrupt from top to bottom. But a company must act fast and fiercely to rid itself of fraudsters, actions HitBTC has not seemed to take part in. Choose your favourite crypto coin and select a “Instant/Market Order” to buy it instantly. After completing these 5 easy steps your account is created.

Next-generation Cryptocurrency Bitcoin Latinum (LTNM) Announces the 7th Exchange to List LTNM – GlobeNewswire

Next-generation Cryptocurrency Bitcoin Latinum (LTNM) Announces the 7th Exchange to List LTNM.

Posted: Tue, 26 Oct 2021 07:00:00 GMT [source]

There are also some bad reviews online left by HitBTC customers which mention problems with customer support with extremely long waiting times to problems such as withdrawals etc. Like we said earlier, HitBTC is far from the only cryptocurrency exchange to go south, often resulting in the loss of user funds. Wouldn’t crypto exchanges want to keep their service quality high in order to get more business? Well, it’s not as simple as that, and there are more than a couple of reasons why an exchange like HitBTC might start to suck. Many HitBTC reviews highlight the importance of the need for excellent customer support. 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.

Deposit Crypto Address

About HitBTC I can say that it’s just a common crypto exchange. They do have this verification process but it is not as long and complicated as you describe it. It’s a simple thing that you have to respect if you want to be protected. That’s what I did – yes it took some time but I succeeded. I don’t believe its a scam but suffer serious deficiency in their level of support and commitment toward traders.

Take my advise and file a complaint just to reserve your right, I am confident that they will refund and pay you compensation soon. Do your own due diligence, check what is being posted on the official Hitbtc twitter and Reddit accounts.

Liti Capital token wLITI lists on HitBTC, bringing litigation financing to the masses – GlobeNewswire

Liti Capital token wLITI lists on HitBTC, bringing litigation financing to the masses.

Posted: Mon, 16 Aug 2021 07:00:00 GMT [source]

In the Instruments section, you should choose the pair you need and then specify the type of order you are going to place . You can choose from the Market, Stop, Limit, Stop-limit, and Scaled orders.

Step 1 Open An Account With Hitbtc

This step is critical for the maintenance of the safety of your account. Neglecting 2FA for protection of your account is reckless. For turning this option on you may use Google Authenticator app or Authy app. Another security feature available for HitBTC users is whitelist. 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.

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. Coinbase was far easier to use, we could deposit funds with a debit/credit card and e-wallet, and customer support was top-notch. 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. This is a major concern, as you are essentially trusting your money with a cryptocurrency exchange that is unregulated. One of the main concerns regarding HitBTC is accountability.

Making A Deposit And Trading

Only then can the better exchanges rise to their deserved level of prominence. 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. HitBTC cryptocurrency exchange was established in 2013; it permits the users to trade crypto along with numerous cryptocurrency pairs. HitBTC offers multi-currency support, and it has several million active users trading on its platform. HitBTC digital currency exchange interface is available in English, Korean, Chinese, Portuguese, and Spanish. This exchange was launched to support users who would like to trade cryptocurrencies.

how to use hitbtc

Trollbox for chatting with other cryptocurrency traders. Personally, I haven’t had any issues with the service yet, but at the same time, I would not recommend depositing more money with it than I can afford to lose. Once you sign up, you’ll see that HitBTC forces you to active 2FA measures on your account. Until you do so, some features of the exchange will be locked, which is good for your security. While such fee structure works for large-volume traders, it may be irritating for small traders dealing with small amounts of crypto. HitBTC users can make use of trading bots, which work well with the platforms’ robust API. To optimize API performance and provide better trading services, API version 1.0 will become unavailable on February 28, 2022.

Some of these reviews have dated badly, some lack important facts, and others don’t address the exchange criticism properly. As per several HitBTC reviews, registering an account with HitBTC is simple and easy, and here are the steps to register on this platform. It has a wide range of cryptocurrencies when compared with other exchanges. HitBTC offers a robust and friendly API, and the traders can use their trading bot that works well with the platform API. You will only need to verify your identity at HitBTC if you want to deposit and withdraw funds using a bank wire.

Is a Bitcoin wallet free?

Hot storage cryptocurrency wallets are directly connected to the internet, such as a phone app, a desktop software program or an online provider (hence “hot” storage). The good news is that all of these services are free.

The user can add their preferred cryptocurrencies like Bitcoin, Ethereum, USDT, etc., by scanning the QR code generated by the platform. As is the case with most third-party cryptocurrency exchanges, HitBTC only offers a web wallet.

The once-responsive customer service is giving people the run-around, or ignoring questions and comments entirely. Deposited funds are failing to appear in user HitBTC wallets. HitBTC was founded in 2013 and is considered to be one of the oldest and man trading venues for digital assets. HitBTC supports around 800 tokens and 500 spot instruments supported, including Bitcoin, Ethereum, EOS, Litecoin, Tron and others.

Does Hotbit require KYC?

Hotbit on Twitter: “Come #Hotbit,No KYC Needed.

On the Privacy Policy page from the HitBTC website, the company indicates one of its addresses in Seychelles. As you can see it’s quite hard to figure out what’s the exact location of the company’s headquarters. First, you’ll need to go to HitBTC’s website and access the Deposit link in the upper right-hand corner of the site.

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 what is hitbtc will be processed. Moving on in our HitBTC review, let’s look at some of the trading fees. The HitBTC price for trading is based on the “maker taker” model. HitBTC trading fees aim to narrow the spread on cryptocurrency markets and increase liquidity.

Author: Steve Goldstein

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