The Complete Beginners Guide To Hitbtc Review 2019
In that case, they can use the HitBTC crypto-to-crypto exchange, where they can buy cryptocurrencies or deposit Bitcoins and other supported currencies. HitBTC exchange does not ask for any verification as a part of the KYC process. As per our HitBTC review, the traders can buy and sell several cryptocurrencies using more than 800 cryptocurrency pairs. This exchange offers a wide choice of cryptocurrencies that can be used for trading, and it is one of the leading exchanges to enlist several emerging projects. If you haven’t quite got the time to read our review all of the way through, then we concluded by noting that we cannot recommend HitBTC as a credible exchange.
Choosing the wrong address means funds may not be retrieved. HitBTC provides 2-factor authentication, whitelists and cold storage custody solutions. The account holder can create a whitelist of addresses, ensuring their coins and tokens aren’t available for withdrawal to another address. Cold storage custody is one of the most secure cryptocurrency storage solutions, providing offline storage to users and not leaving the cryptocurrency vulnerable to hackers. HitBTC offers robust security measurements and will protect your assets even if your personal details, such as account information and email address, are compromised. What is more, it supports more than 380 cryptocurrencies, over 800 crypto pairs, and has low trading fees. Despite these red flags, my personal experience with HitBTC remains positive – the exchange does its job, even though high withdrawal fees weren’t a pleasant experience.
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In a nutshell, regardless of how much you trade, you will always pay 0.01% in trading fees. For example, if you bought $5,000 worth of crypto, and then sold the same $5,000 worth of crypto, you would pay two lots of $5. Recently HitBTC released a demo version of their platform. Using a demo account, users can try their hand at trading without risking any financial investment. They can trade simulated funds in order to get a feel for trading and educate themselves. At the same time, all the market data in the demo is the same real-time data from the real HitBTC exchange. Trading can be done manually or via the API – the test mode is as responsive as the regular exchange platform.
Creators of the wallet promise to get rid of the additional transaction fees when sending coins to friends, family members or others. 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. The next step is moving funds from your main account to a trading account. The action is quite intuitive, you just click on the blue arrow, specify the amount and click a “transfer” button. Then you should proceed to the Exchange tab to create an order.
Step 3 Buy Some Crypto
Some even have been thinking that these KYC checks are only an excuse for illegal withdrawal delay. Currently, completing the KYC procedure is a must on HitBTC. One cannot deposit any money before providing the requested personal data.
- 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.
- At the highest fee tier, they provide a rebate of .01%.
- Also, the exchange employs a sophisticated legal team and complies with GDPR regulations, thus giving you full control over your data and privacy.
- 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.
- In this post I will review the company, its services and share some of my personal experience with them.
- HitBTC exchange does not ask for any verification as a part of the KYC process.
Today we will review HitBTC, a cryptocurrency exchange that offers high liquidity and access to the largest cryptocurrency collection in the industry. You will need to create a separate account for the demo platform. For the beginners, HitBTC exchange what is hitbtc offers an opportunity to try and trade cryptocurrencies on its demo platform first. You can register and access the demo platform by clicking the demo option at the bottom of the screen or by simply typing demo.hitbtc.com into your browser.
Is Hitbtc Regulated?
HitBTC has also launched a demo trading and an application that can be used for voting altcoins. Based on this, the users can select their preferred cryptocurrencies to trade on the platform. 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. HitBTC reviews show that it has been given mainly positive feedback from customers.
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. In this regard, HitBTC withdrawal fees are some of the highest amongst all cryptocurrency exchanges.
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Furthermore, I found a very simple and convenient menu. The first withdrawals arrived rapidly, so I was thinking to keep on using this platform.
Is Coinbase or Gemini better?
Gemini provides features that support institutional investors, while Coinbase lets you earn crypto while learning about trading. Beginners will feel comfortable using either platform. However, Coinbase has a slight edge, as it’s available in more countries and offers more currency types.
I haven’t experienced any issues with HitBTC for two years that could make me want to leave the exchange. Thank you, thank you, thank you for resolving my issue with email confirmations. Everything is up and running again, no problems depositing and withdrawing my crypto.
Market orders allow you to sell or buy the instrument of your choice at the market price, which is the best available price when you place the order. Totals and fees are estimates since this price varies in real-time. Once the coins are in your account, it is time to set up the order. Go to your trading screen by clicking “Exchange” and choose your trading pair from the “Instruments” section. Find your cryptocurrency (you can use the “Search” field) and click the button in the “Deposit” column. Maker-taker fees offer a transaction rebate provideLiquidityRate to those who provide liquidity , while charging customers who take that liquidity takeLiquidityRate. Use Streaming API for real time updates of your orders and trades and any transactions changes.
HitBTC is a good platform for experienced traders, just be prepared to wait to get your money. HitBTC is one of the largest and most comprehensive platforms by BTC volume on the market. It is a great place to trade high-volumes of currencies at reasonable rates. However, it isn’t without its drawbacks, and its reputation around the web is in doubt to say the least. Here is a link to a Reddit thread that attempted to paint HitBTC as a scam site; however, it seems that this person merely locked themselves out of their account. Also, the poster’s integrity was heavily questioned based on his claim and post history.
You can whitelist the addresses to which your funds can be withdrawn. This means that even if your account and email are compromised, you stay protected. As you can see, HitBTC exchange is truly extensive and provides you with the ability to trade multiple cryptocurrencies, even less popular altcoins. Please note that the verified users on HitBTC fall into their tier fee system. According to the tier fee system, the fee is determined based on the user’s trading volume during the past 30 days. After completing selecting the coin, you want to buy, move below the main chart.
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Robots, spiders, crawlers and scrapers not provided by HitBTC also must not be used to extract data. The HitBTC trading platform allows for both native HitBTC and TradingView charts, making analysis and trades much easier for clients. It also offers a programme where users can refer others using a HitBTC referral code. When new users use a HitBTC referral code, the trader who referred them can gain up to 75% rewards from their trading fees. HitBTC futures trading is also offered on the platform. However in the past, it’s been criticised for lengthy withdrawal times due to technical maintenance issues, which has left clients feeling frustrated. In some cases the support team hasn’t been able to offer a quick solution, prompting the question, is HitBTC safe?
What happened to DubaiCoin?
The company, which owns the Palmex cryptocurrency exchange, shelved Dubai Coin in 2019 to concentrate on Palmex, it said in a previous blog post. “We haven’t made such an announcement, please be cautious,” the company said on Twitter. We haven’t made such an announcement, please be cautious.
There are simply too many reasons for dishonest exchange owners to funnel user funds into their own private wallets. We’re at a unique time in history where these bad actors may find that they escape notice and prosecution, because of a regulating body that is just not up to speed with how these technologies work. Whatever the case, new users should stay well away from HitBTC. There are simply too many other services which out-class it in every respect, and will especially not steal user funds. We use these companies because we believe we can trust them with our money, to correctly account for and channel all funds to the correct destinations. When a company like HitBTC breaks our trust, they make themselves immediately irrelevant to the needs of the market.
The next step is to proceed to the exchange section, where it contains information about the latest pairs available, choice of trading pair, the rate chart of the preferred trading pair, etc. The user can see the open orders displayed on the screen, and they can also find a user chat on the same screen. If the user would like to withdraw coins, they should click the “accounts tab” then click the withdrawal column, which displays every crypto and fiat money. If the user wishes to withdraw money, they should have coins in their main account; they need to click withdraw. There are no restrictions on the HitBTC withdrawal limit. While the verified users fall into the category of HitBTC tier fee system that determines the higher trading fees depending on the trading volume carried out in the past 30 days. After creating the account, the user should proceed with HitBTC login and deposit funds.
- As years go by, even the best banks and financial services get old, corrupted, or irrelevant.
- HitBTC charges just 0.1% in trading fees, which makes it very competitively priced.
- The price and value of any investment in digital asset products can fluctuate.
- This article is about how to use the API key of hitbtc to auto manage your portfolio.
- It has been about 4-5 weeks and no reply to my requests.
Author: Tom Farren