Although there is much not to like about the HitBTC platform, one its strongest attributes is its extremely low fee structure. Yet despite its appeal as a secure technology, HitBTC remains an unregulated exchange at the forefront of the crypto wild west, which raises questions and adds risks to its reliability. Once you reach tier 8, that is trade 50,000 BTC per month or more, HitBTC will start paying you a rebate of -0.01% per every completed trade.
On this page, users can view key metrics for the system’s performance and availability, including live statistics of incoming/outgoing transactions. They allow you to send a maximum of 100 API requests per second per IP address. One can compare this to the likes of Poloniex which has a limit of 6 p/s and Kraken which has tiered rate limits. To withdraw funds, simply click on the icon in the withdraw row of any Coin you wish to withdraw. Signing up on HitBTC is a very simple and seamless process.
Step 3. Buy some crypto
The latter has margin trading, too, but in the fiat market, it can’t offer anything except for stablecoins. HitBTC features extremely liquid marketplaces for trading digital assets, tokens, and fiat https://www.tokenexus.com/is-eos-better-than-ethereum-or-not/ currencies (USD, EUR, etc.). “The world’s largest and most advanced cryptocurrency trading platform” —or so they say. Despite the well publicized hack, the company takes security seriously.
Step 1. Open an account with HitBTC
Let us get started and look in detail in this review now. One of the key benefits of the HitBTC trading platform is the ability to trade without having your account verified. No personal information is required if users operate with digital currency, but those trading frequently and fiat currency are required to undergo verification. Personal information, including name, address, country of residence, bank account, date of birth, and pertinent scanned documents, must be provided for adding or withdrawing funds. If you have ever used a cryptocurrency exchange before, then HitBTC works in exactly the same way.
The exchange has developed over the years to provide high volume trades on a secure platform that monitors and constantly updates users on the status of the system’s health. As a result, the platform now has over $300m in trading volume. For one, there was the ire that they have attracted from cryptocurrency trader “Sicarious”. Certain digital assets require more information be inputted when depositing or withdrawing. For example, Monero requires a payment ID when withdrawing, whereas Bitcoin and Ethereum only require the recipient’s wallet address. Even before a company that does an ICO releases their tokens on exchanges, HitBTC allows users to buy the IOU’s of ICO coins and store them in their HitBTC account.
How to Make Your Account “Professional”?
AML/KYC rules help the public to identify harmful financial activities, and agreeing to use a KYC-compliant exchange is a small contribution to the safety of the global financial community. Moreover, the AML/KYC rules compliance allows HitBTC to keep working in the countries with strict cryptocurrency regulations. HitBTC is known for the fact that thanks to the API, the exchange can be quite friendly to people who are involved in the creation of trading bots.
- Margin trading was made available on HitBTC in July 2020.
- If the safety of your funds is your top priority (which it should be), we instead prefer heavily regulated platforms like Coinbase.
- HitBTC features high-volume trading, and the trades are executed in a matter of seconds.
- Choosing a suitable cryptocurrency exchange is harder now as so many exchanges exist.
- It is possible thanks to the Starkware layer 2 network used as a basis for the dYdX architecture.
- In the last part, you will have to verify your email address by clicking on the link that HitBTC will send to you on your email address.
While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market. If you want your account to be extremely secure make sure to create a strong password. Also, it’s recommended to have a dedicated email account for trading and keep your coins in secure cryptocurrency wallets.
i have coins that were blocked by…
I chose it quite consciously, because I carefully studied various types of information, both about the exchange and about others. Even if we consider that the 2022 market is mostly sagging, it will be a pleasure to deal with this platform. The whole functional interface and its interface provide a user-friendly experience. Transactions proceed smoothly, the withdrawal of coins and replenishment of the account is normal. In the end, I think that HitBTC is a great tool for cryptocurrency trading and not only. For all the time since 2017, sticks have been put in the wheels.
They are liars, theives and groups are already forming to pursue and arrest their “CEO” across the globe.They’ve been “day trading” users’ funds for years, and they’re just horrible at it. If you’re an EU resident and deposited without KYC, they can’t then make you supply it in order to withdraw. If they hold your funds, that’s fraud, go to your country’s EDPB representative and file a criminal data protection violation! The more people that do it, the more likely they’ll actually close down this exchange. I recently decided to log into my hitbtc account to check up my crypto, and I found that someone made 4 unauthorized withdrawals (not much) but still concerns me.
Many of these tokens were distributed among the early dYdX platform adopters via an airdrop. HitBTC is a high-liquidity platform that provides HitBTC Review instant order processing and reduces transaction costs. Therefore, due to its high liquidity, the platform creates low transaction fees.
- Some users have even started a petition against the low-level service HitBTC is supplying.
- “Makers” are not charged with a fee, and instead receive a 0.01% rebate from the trade.
- Moreover, HitBTC organizes various trading contests, allowing users to measure their skills against other traders and get more experience.
- Especially considering the security and flexibility.
- HitBTC was founded in 2013 and went into public operation the next year.