HitBTC is the most advanced cryptocurrency exchange with markets for trading between Bitcoins, Ethereums, Litecoins, Dogecoins, Monero, USDT and more. HitBTC is operated by HIT Solution Ltd. based in Hong-Kong.
HitBTC - global trading platform with multi-currency support, operating since 2013. The exchange has markets for trading digital assets, tokens and ICOs and provides a wide range of tools as well as stable uptime.
8.9
Score8.9
Score Android
Score iPhone
LocationHong-Kong
Currencies
LanguagesEN, JP, CN, KN
Buy withBTC
FeesMaker 0% - Taker 0.1%
AltcoinsYes
Margin tradingNo (Exchange does not support margin trading)
Trust scoreB
Beginner friendlyNo (Exchange is complex and difficult for beginners)
Stability3. Much (Exchange is stable, but it has a downtime in the high stakes)
FiatNo (The Exchange does not support Fiat currency like USD, EUR, etc ...)
SafetyA (Very secure)
APIYes (API is available for public to use)
Rest APIYes (The Exchange has Rest API support)
WebsocketYes (The Exchange has Websocket support)
Mobile appNo (Exchange does not have a mobile app)
Credit cardNo (Exchange does not support credit cards)
ReferralYes (Exchange offers an affiliate program)
LendingNo (Exchange does not support lending)
Stop limitNo (Exchange does not support stop limit)
US licenceNo (Exchange don't have US licence for Money transmitter)
PGP supportNo (Exchange does not have PGP encryption)HitBTC was founded by using 6 million euros of venture capital money. It has not been revealed yet, who was the founder of this website, or the mastermind of this platform. It looks to simply be a venture by a company who thought it would be a good idea to start a cryptocurrency exchange. The Chicago based company, Hit Tech limited were responsible for HitBTC. There was also some association with Cryptopay however that relationship was cut short and the Cryptopay founders decided to exit from any involvement in the platform, a clash of direction is probably the nicest way to put it. Despite any difference in opinion, Cryptopay tokens are still listed on HitBTC exchange, meaning that the relationship is not completely over.
ADVANTAGES OF HITBTC
Some of the prominent advantages that HitBTC provides are as follows -
- HitBTC exchange does not have a minimum deposit, which means you can start trading with small amounts before you get more confident.
- A large benefit of using HitBTC is the low fees. The transaction and trading fees are 0.1% which is way lower than some other exchanges demand.
- HitBTC provides a medium to exchange government issued currencies for cryptocurrencies. It provides trading in multiple traditional currency to cryptocurrency pairs and cryptocurrency to cryptocurrency pairs. This will attract first time cryptocurrency traders because they can turn fiat into crypto very easily.
- HitBTC has over 400 cryptocurrencies available for trading. This huge array makes it a one exchange for all, it will have all the big ones; bitcoin, ethereum etc and also lots of the new up and coming coins; reddcoin, golem etc.
- Registration on HitBTC is smooth and fast. You just need to enter your email, put a strong password in and you will get a verification code or link sent to your email within seconds.
DISADVANTAGES OF HITBTC
There might be plenty of advantages to using HitBTC, but a review is incomplete without discussing the downsides. The disadvantages of HitBTC are -
- HitBTC exchange only gives the option of trading in USD, EUR and GBP. No other traditional/FIAT currency is allowed. Users can only exchange these three currencies for crypto-assets.
- The only way through which you may make deposits in your HitBTC account is through bank transfer. They do not allow deposits through PayPal, debit card or credit card. Basically meaning there are two deposit methods; bank transfer or through cryptocurrency from an external wallet. With the recent rise in banks stopping people buying cryptocurrencies with credit card, hitBTC may have saved themselves a trick here.
- The interface might be good for expert traders, but it is not meant for newbies or first-timers. They will find it extremely confusing and might even experience loss if not used properly.
- The verification process is time consuming. A general account verification can take up to 10 days during high traffic and congestion time. Without verifying your account, you may not be able to trade in as high volume as you might want to. Not ideal.
Manuals for HitBTC
Opening an account on Hitbtc is as easy as registering in an email:
- We are going to Register and we enter an email and password, we accept the terms and conditions.
- We wait for a confirmation link in our e-mail and click
- At the top we can see that it says "Deposit" in green color. Click and we can see the top ten of the crypto-coins, Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, etc.
- In the Exchange part we can see the graphical guides, and the main movements minute by minute.
- Finally, we scroll and see the buying and selling section. The picture shows buying and selling LTC (Litecoin)
HitBTC - Safety report
HitBTC was hacked once in early 2016. Although not to much came out about it in the press, users were vocal of their displeasure on online forums and review platforms. HitBTC did not cover themselves in glory as they refused to provide any information about the incident. Many users complained of their coins being 'lost' on the platform, as well as delayed or no withdrawals from the exchange.
Review of HitBTC
HitBTC might have many advantages and upsides, but the disadvantages are so major that they cannot be ignored. Out of all the downsides of HitBTC, it is the slow-withdrawals that they need to work upon to retain their users. Withdrawals not reaching customers on time, and lost-trades are the most frequent complaints from users. If they resolve some of these issues and focus on improving the experience of their users, they might have a higher user base in future.
