To avoid that, it’s important to figure out how the platform works first. As you can see in the picture below, starting from Tier 9, you will be paid 0.01% back of the trade that you make. You cannot work with USD, EUR, or any other real-world currency.
However, the platform has a somewhat “murky” reputation in the public domain. HitBTC is a cryptocurrency exchange (a place where crypto users trade with each other) based in London (or so they say). It was originally started with a six million euro investment, and was a true group effort between traders, developers, and investors. It was started with the goal of creating an advanced trading platform for professional traders. HitBTC has a long history for a cryptocurrency exchange, and there’s a lot to like about it. It has a well-designed and highly responsive interface that offers advanced trading features on a wide variety of cryptocurrencies.
MetaTrader 4 Platform
While using a bank transfer to deposit funds, users are required to go through a lengthy verification process. If you deposit cryptocurrencies, you don’t need to prove your identity, and the funds will be available in your account in less than 20 minutes. 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.
- HitBTC requires you to use an authenticator app rather than a phone number.
- Furthermore, this month’s trading volume is showing a change of 0.00% compared to the previous month.
- None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.
- 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.
- However, the platform offers a number of advanced features within its main trading area, so you’re best off doing this only if you are an experienced trader.
The HitBTC platform is friendly to users who are involved in creating trading bots. The robot-friendly API of HitBTC uses low-latency data for the cryptocurrency market. Users can find more information on API and API documentation on the website.
The likes of Coinbase are much more inclusive of American traders, and they even allow you to fund your account with a debit/credit card or e-wallet. 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, regulation, supported coins and countries, user-friendliness, and more. Besides basic verification, professional traders might want to upgrade their account to PRO status using HitBTC’s UK-based partner Bequant Technologies.
- Never use this stock exchange if you don’t want to lose money.
- This is not ideal especially for those smaller traders who want to trade the more expensive coins.
- Its official mailing address is Av Vitacura 2969, Las Condes, RegiÃ³n Metropolitana, Chile.
- The reason for this is that it still remains to be seen where the company is actually based.
Once you are happy with the figures showing in the trading box, click on the green ‘Buy Limit’ button to complete your trade. As HitBTC has one of the largest trading volumes in the industry, your trade should be executed in a few seconds. Mind that HitBTCâ€™s withdrawal fees are far higher compared with other exchanges, so it might not be the best option for depositing small fractions of cryptocurrency. In case you want to deposit cryptocurrency directly into HitBTC using fiat currencies, HitBTC has an effective Changelly integration on its site. Using it, you can buy cryptocurrency instantly with your bank card (VISA or Mastercard) and send it directly to your HitBTC wallet to start trading immediately.
HitBTC Review: Verification Process
Furthermore, some popular review sites, like Cryptowisser, have even flagged it as an outright scam. And its TrustPilot rating is 1.6, with nearly https://www.tokenexus.com/ 2,000 reviews, almost 50% of which are mostly negative. So, bearing all this in mind, tread carefully if you do decide to trade here.
- Even if we consider that the 2022 market is mostly sagging, it will be a pleasure to deal with this platform.
- Also, the user has the option to access altcoins that can develop in the future.
- Still, there are some glaring issues that need to be addressed as soon as possible.
- Nonetheless, there are a lot of issues that the exchange should address.
- Lost 50% of my profit just because these mf’s went short with our Dogecoins, and in order not to lose money just put the exchange rate 50% lower and blocked the withdrawals.
- If you want to withdraw money, you must first have coins in your primary account and then click withdraw.
- It’s up to the consumer to manage their funds carefully, even when using financial services like HitBTC and other crypto exchanges.
If you select “Market,” for instance, you can click “Buy Market” after you have entered the amount you want to purchase. Go to your trading terminal then and choose your preferred trading pair from the “Instruments” section to set up your first order. Unfortunately, we couldn’t find any concrete information regarding the exchange’s founders.
In most cases, it’s recommended to watch some tutorials or simply start trading small amounts that you wouldn’t be afraid of losing. However, when it comes to HitBTC, you can have a full experience without the need to risk anything. As you can see, HitBTC exchange is truly extensive and provides you with the ability to trade multiple cryptocurrencies, even less popular altcoins. Without further ado, let’s jump to HitBTC Review and find out more about this cryptocurrency exchange. 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.
The reason why they’re so secure is because your private keys are stored offline. 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. HitBTC is one of the popular European bitcoin exchange platforms that was founded back in 2013 and started with a 6 million USD Venture Capital investment. Bittrex might be preferable as a platform overall compared to HitBTC, but only for certain traders. Good support and an even better reputation give it an edge over HitBTC.