HitBTC Review 2023 » Is Trading with HitBTC safe?

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. If you want to sell some coins, you name the lowest possible price at which you want to sell them so you sell at that price or higher. Reserve of a certain amount of your assets follows after the creamarkets60n of limit order and the order appears in the order book.

This is where the majority of hitbtc exchange review will be spent analyzing the charts and looking for trading opportunities. HitBTC is available in almost all countries except Syria, Sudan, Cuba, the United States, Crimea, and North Korea. This trading platform has a wide global reach where the traders can access the platform from their country of residence. The above countries are barred from accessing this exchange because of regulatory provisions or financial restricmarkets60ns.

• For one, it lets users set up two-factor authenticamarkets60n for all their transacmarkets60ns, adding an extra layer of safety.
• As a precaumarkets60n, users can choose how long their account should remain active before automatically logging them out (30miutes, 1 hour, 8 hours, 1-7 days, or never).
• Nevertheless, HitBTC allows users to deposit funds using real-world money.
• Toju Ometoruwa is a Northeastern University alumni who is the co-founder of Pazima, a start-up that provides secure lending opmarkets60ns for low-income workers.
• Anyone who’s ever traded in stocks or other tradimarkets60nal securities will recognize HitBTC’s interface.

Perpetual futures are less risky traders can use small amounts of money for hedging the market. It allows traders to change the asset used as collateral for open posimarkets60ns. Supported currencies are BTC, ETH, TRX, BCH, ADA, DOT, SOL, EOS, AAVE, MATIC, XLM, UNI, LTC, and HIT. In the summer of 2020 HitBTC has launched a margin trading feature.

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!!! It contains informamarkets60n about new trading pairs on the exchange, the choice of a trading pair, the rate chart of the selected trading pair, the open orders of other users, etc. Note, if you provide an incorrect digital wallet address (even if you make a mistake of just 1 letter/number), then the withdrawn coins cannot be returned! HitBTC is known for the fact that thanks to the API, the exchange can be quite friendly to people who are involved in the creamarkets60n of trading bots.

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Privacy is just a tool of protecmarkets60n, but many cryptocurrency exchanges use a different tool — a Know Your Customer procedure. Like many other cryptocurrency platforms these days, HitBTC has some technical flaws. One of the first things that come to mind is temporary blockings of withdrawals of certain coins which happen from time to time and may take a while to resolve.

After clicking on that button, it will take you to the support ticket. However, some sources were claiming that HitBTC was hacked with BTER and Excoin. It has a mobile app for both Android and iOS versions of smartphones. It is a secure platform that has never been hacked till now. CoinSutra was founded in 2016 with the mission to educate the world about Bitcoin and Blockchain applicamarkets60ns.

HitBTC Review: Customer Support

The exchange uses a scalable fee schedule that rewards users with higher trading volume. The fees are actually lower for unverified users – 0.1% for makers and 0.25% for takers – but they don’t scale as much as the fees for verified users. HitBTC was hacked in early 2016, which raises a finger over their security features, and the future possibility of an attack. This is a reason we would advise not to use HitBTC as a wallet, but just as an exchange. It is better to avoid storing your crypto-assets in any online exchange, keeping your coins in offline or hard wallets will increase the security. HitBTC provides its users with a mandatory 2FA (two-factor authenticamarkets60n) to secure their account with an added layer of protecmarkets60n.

• There is no reason why HitBTC should not hold a regulatory license, especially when one considers that the exchange has been operamarkets60nal since 2013.
• Each HitBTC trading pair has a lot, which is the minimum value you must deposit or withdraw.
• Now, while such accusamarkets60ns cannot be substantiated with any certainty, if the general consensus is that HitBTC has suffered multiple hacking attempts, then it is likely to be true.
• To conclude our review on HitBTC, the exchange provides a reasonable trading platform for Bitcoin and Ethereum traders.

The exchange is often accused of lack of transparency and shadowy businesses practices; however, there is no tangible evidence for these claims. Nevertheless, HitBTC exchange is open about its official locamarkets60n. Its official mailing address is Av Vitacura 2969, Las Condes, Región Metropolitana, Chile.

Throughout the time since launch, the exchange has been widening the list of the available margin trading pairs. In the ‘Amount’ box, enter the amount of cryptocurrency that you want to buy. Once you are happy with the figures showing in the trading box, click on the green ‘Buy Limit’ button to complete your trade.

How to Use HitBTC Cryptocurrency Exchange?

The service is accessible via bequant.io and is dedicated to Institumarkets60nal and Professional traders only. Always double check that you have entered the correct wallet address when transacting with cryptocurrency. Once you’ve agreed to all terms and condimarkets60ns your account is active and ready to go. While you can simply fund your account and start trading at this point, we highly recommend you set up two-factor authenticamarkets60n before you do. Getting your account up and trading on HitBTC is a very quick and pain-free process.

These are derivative instruments which means that you are not buying the underlying asset but merely trading on the price difference. HitBTC also allows you to deposit or withdraw on any of the available coins by clicking the icons displayed in the deposit and withdraw columns. This was slightly disconcerting for us as customer support is often one of the biggest sticking points as slow customer often really hampers client satisfacmarkets60n. HitBTC offers a support center that features a variety of articles covering everything from ‘Account & Security’ to ‘Legacy & KYC’. On the surface, the ability to buy IOU’s or ICO tokens seems like a positive, but some users have speculated that HitBTC may be selling IOU’s at a higher price to make a profit.

HitBTC Services

Many of the complaints can be found on the https://forex-reviews.org/’s Twitter profile and in the currently banned subreddit r/hitbtc. Some interesting user comments can be found in the bottom of this post and in the comments of this review by Blockonomi. A quick online search showed a mob of angry customers posing similar reviews about the company. I initially reviewed HitBTC back in 2014 when I just started out 99Bitcoins.

CFD crypto trading is unavailable for clients residing in the UK and US. I’m sure that all this was said before me, but I cannot but express myself. This is a very solid exchange that doesn’t disappoint my expectamarkets60ns and treats its customers with respect. Hitbtc is most secure exchange till now as of my experience.

Second, they say that it is “fast, responsive and feature-packed”. Third, they state that the platform has a “robot-friendly API”. Out of these three advantages, we dare to say that it is primarily safety and security that is equally important to all prospective traders. Another interesting feature that can be especially helpful for people who do their first steps in cryptocurrency trading or in using HitBTC API is demo mode.

After that, click on the green “Buy Limit” button to complete the trade. One of the upsides of HitBTC is the sheer volume of digital currencies on offer. Customer support of HitBTC exchange is not supportive or responsive.

For example, at the time of writing the exchange offers a mailing address in Hong Kong, however it also claims to have office representatives in Chile and Estonia. This should act as a major red flag when dealing with an exchange, not least because if anything happened to your funds, it would be difficult to know where to turn to. Nevertheless, if you’re thinking about opening an account with HitBTC, be sure to read our comprehensive review first. We’ve covered everything from fees, regulamarkets60n, supported coins and countries, user-friendliness, and more. Here is how the lowest tier HitBTC fees fare with other popular cryptocurrency trading exchanges.