2021 Hitbtc Review
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. The problem with hitbtc are the withdraw fees, to withdraw utrust tokens I need to pay 100$ in fees.
Reportedly, the company was kickstarted with a USD 6 million venture capital investment. HitBTC is an old-time bitcoin exchange established in 2013. Since then, the exchange has made a name for itself as a go-to place for buying and selling low cap altcoins. It exchanges a wide variety of digital assets, including most popular cryptocurrencies like bitcoin , ethereum , litecoin , ripple , dogecoin , monero , tron , dash , EOS and tether . It’s also one of the few exchanges open to bots, providing a range of APIs that help tech-savvy customers trade automatically.
Buying Bitcoin On Your Hitbtc Account
HitBTC is also a common choice for newly created tokens that are looking to list on an exchange post-ICO. We have compiled a list of supported coins now available on HitBTC, which you’ll find below. In the end, HitBTC is still a desirable platform for advanced traders.
Setting up an account is a breeze and verification isn’t necessary for small amounts. However, if you wish to increase your limits and access fiat currency, you need to take things a step further. I’ve already covered it quite a bit, but to reiterate this important point, HitBTC is popular with professional traders.
Supported Cryptocurrency Exchange Markets
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. 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.
How long does it take to verify HitBTC?
It might take from 3 to 5 business days to get your account verified, if no additional information is required.
Whenever I claimed a new coin from one of these Bitcoin forks, I would immediately sell it on HitBTC. There are no maximum deposit or withdrawal limits mentioned on the HitBTC website. It has a mobile app for both Android and iOS versions of smartphones.
Although, the users need to go through quite a stringent verification process for taking advantage of this feature. When deciding which crypto exchange platform to use, there are multiple aspects to take into account. HitBTC does not offer margin trading natively on the exchange. HitBTC’s website links to Weltrade, a third party trading service provider. Blockfer recommends that users looking to margin trade consider other cryptocurrency exchanges options such as Binance and Huobi Global. It does offer one of the broadest cryptocurrency markets selection in the entire industry, and its trading fees are the lowest, too. The exchange is relatively secure and easy to use but is a better fit for more experienced traders.
The instrument list is placed next to the pop-up and is divided into four major categories. There is a news section which may come in handy when major news is breaking, you will quickly be alerted to it. 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 an offline or hard-wallets will increase the security. Navigate to the different trading platforms available to start buying and selling crypto coins of your preference. If the user wants to deposit funds to their HitBTC account, they should first generate a wallet address.
A lot of frustrating things are going on with HitBTC and USDT, that much is evident. The “currency operations not available” error is certainly worrisome. More specifically, Omnichest shows several dozen unconfirmed outgoing transactions.
- Thanks to the intuitive user-interface, HitBTC is relatively easy to exchange for beginner traders to get started with.
- 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.
- This platform has gained popularity in the blockchain community for its fault-tolerance, flawless uptime, and high availability.
- After clicking on that button, it will take you to the support ticket.
- Without further ado, let’s jump to HitBTC review and find out more about this cryptocurrency exchange.
This may be useful if you want to contribute to CCXT (e.g. run the build scripts and tests — please see the Contributing document for the details on that). 🏆 Deposit USD to Earn 8.6% Interest and select payment in BTC or ETH.
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. Now let’s name the most significant numbers that will help us to realize the scale of this exchange. HitBTC works 24/7 and hosts hundreds of trading instruments including Bitcoin, Ethereum, and all the top altcoins; there are 1070 trading pairs available on HitBTC. By this measure, HitBTC holds the fourth position on the entire market.
You must select the network that is compatible with the withdrawal address. HitBTC focuses on implementing advanced technologies to cryptocurrency trading. It implements real-time clearing (T+0 settlement), advanced order matching algorithms. In order to trade with private APIs you need to obtain API keys from an exchange’s website. It usually means signing up to the exchange and creating API keys for your account. In this case you will need to register yourself, this library will not create accounts or API keys for you.
HitBTC is a Europe based cryptocurrency exchange that began in 2013 and now is operated by HitTech limited, based in Chicago. Unlike its name, that involves the abbreviated BTC in it, HitBTC is actually a multi-currency exchange instead of just a Bitcoin-oriented platform. It supports more than 400 cryptocurrencies, including all the major crypto-assets. HitBTC website’s main page offers several basic information and displays trading charts accompanied by the various cryptocurrency trading volumes. Aside from trading volume, it contains information like exchange rate, changes in the latest market price, offer to buy or sell, trading volume for 24 hours, and several more. The next step is to deposit funds into the trading account using the different payment options offered by HitBTC. The user can add their preferred cryptocurrencies like Bitcoin, Ethereum, USDT, etc., by scanning the QR code generated by the platform.
They also do not disclose any identities of their team members, something that often raises a red flag for many users. As we noted earlier, HitBTC is popular with traders because of the number of coins it supports on its platform.
We talked and he promised that the issue would be taken care of. All seemed to be going well, and as my site relies mainly on affiliate commissions, I decided to also recommend it to my readers. In my opinion, there’s nothing more alarming what is hitbtc than a company that remains in the shadows regarding its staff (see BTC-e’s history to understand why). It’s safe to assume that the platform is therefore unregulated, so anyone considering trading on HitBTC should proceed with caution.
When you compare both exchanges, it seems that Binance has lower fees (0.1% flat) and a better reputation, while HitBTC has a better user interface and a wider selection of features. If you need help with your account, the HitBTC online support centre contains a range of instructional guides and answers to FAQs. To get in touch with the support team, you can submit an online request. However, many users have complained about the platform’s slow response times when dealing with customer queries and complaints. HitBTC supports two-factor authentication for user’s accounts to add an extra layer of security.
Is HitBTC a wallet?
HitBTC is a custodial wallet, which means that even if a user loses access to their phone, the funds can be easily restored.
The withdrawals typically take several minutes and mostly depend on the network speed of the cryptocurrency being withdrawn. HitBTC also offers personalized OTC (over-the-counter) trading services for high-volume traders. Over the counter traders take place as a result of a partnership with TrustedVolumes.com.
- It’s important to note that HitBTC is an unregulated exchange, although it does comply with KYC and AML (anti-money laundering) regulations.
- When it underwent the designing phase, the emphasis was solely laid on simplicity and easy to use interface for its users.
- The bank says it is the “first bank in the Baltics to start offering crypto trading.” Large Estonian Bank …
- However, it isn’t without its drawbacks, and its reputation around the web is in doubt to say the least.
- To turn it on you should use a side application that will provide you with temporary codes generated automatically on your mobile device.
Author: Omkar Godbole