HitBTC Rating
HitBTC Exchange Review
HitBTC is not a newbie in the cryptocurrency industry. It was founded in 2013, and it was launched in 2014. As an exchange platform, HitBTC started off with very few currency pairs available for trading. Their long term customers look back to the time when the platform was very limited and did not offer many financial assets to their traders.
In recent times, the exchange platform is offering more to traders. On HitBTC, there are more than 300 currency pairs that can be traded on over 750 active markets. The availability of a lot of financial assets for trading is one of the main reasons they are one of the most sought after exchange platforms. They have some of the largest trading volumes.
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In the early days of cryptocurrencies, most platforms were not interested in digital currencies that were not Bitcoin. It would seem as though to them, there was no potential for the altcoins. HitBTC, from its inception, had always believed in altcoins. They were open to the possibility of more of these currencies being added to tradable currency pairs, and they predicted that more members of the financial community would be interested in these altcoins. They offered the public the opportunity to decide which of the coins they wanted to offer on the exchange platform.
HitBTC has always believed in the consensus of their traders and customers. They allowed a voting program to give them a voice on how to serve them better, which is something very few platforms would offer anyone. The platform believes in service first before profit, and they have managed to maintain the same clients for more than half a decade.
A very important feature that most traders look out for when choosing a platform is the security of the data and funds. Any platform that cannot guarantee such security loses its traders quickly. In the business of trading, it is important for a platform to take whatever legal measures necessary to ensure that they are protecting the private data and funds of their customers. HitBTC offers security features that protect the data and funds of its customers. The two-step verification or two-factor authentication methods which ensures that intruders who want to steal private data or funds do not find it easy or even possible. They also provide cold storage for the customers’ funds. The cold storage or cold wallet is provided by platforms to safely store away assets that belong to their customers, and it is protected from thieves.
On security, they are doing more than most platforms. They have a list of possible health checks on their platforms. The deposits and withdrawals are not hidden from the customers so that they can know their financial position at all times. They also go further to support trading contest with a leaderboard to keep up the competitive spirit and also show the transparency that the HitBTC strives to maintain.
For all the positives that surround the HitBTC exchange platform, one would think that they have always been perceived as saintly from the jump. They have been accused of several issues including freezing accounts. When the account of a customer is frozen, they are not able to withdraw their funds. This can be frustrating as the customer may not know how long it will take for it to be fixed. This accusation, however, according to the platform, is a protective measure. The frozen accounts, according to HitBTC, may have been flagged for certain practices. Their prominent customers have blown hot at their frozen accounts, and the issue has been the cause of much-raised dust in the industry. Big names such as Trace Mayer have been noted to fall out with HitBTC.
The exchange platform offers margin trading. They also offer over-the-counter (OTC) trading . Any platform that supports margin traders may have just won the heart of most traders as there is nothing traders appreciate more than trading with leverage. The traders can take much more risk in trading with the possibility of making more profits while spending the least amount of money.
OTC trading is provided for large volume trades. The trade must be worth more than a hundred thousand dollars before an OTC trade can be permitted. The concept of Trusted Volumes is not a stranger on the platform. HitBTC found a way to support Over-The-Counter trading while merging with Trusted Volumes, which is involved Over-The-Counter buying and selling that includes billions in dollars on an OTC trading desk. This feature is one of the rarest provided by any platform. HitBTC makes it easy for very large transactions to go on safely on their platform.
HitBTC takes charge for transactions. Most platforms put the burden of the charges on either the buyer or the seller. The other terms it could be referred to, are maker and taker transactions. These platforms make the burden of the fee difficult for one side of the transaction then free for the other. HitBTC splits the charges or fees between both sides of the transaction. The maker and the taker pay for the transaction on the platform. The makers of the transactions there is a reward. This reward is for providing liquidity. The more the volume of the transaction increases, the lesser the fee for that same transaction. For this reason and more, there is no limit to the number of financial assets that can be deposited on the platform, neither is there any limit on the quantity that can be withdrawn.
The accepted mode of transfer of assets on the platform is the use of cryptocurrencies. This is especially strict for the normal individuals that use the platform but are not verified professionals. The verified professionals are allowed to make transfers from their banks. This privilege is afforded to only the professionals that trade on HitBTC.
The security afforded to the traders by HitBTC is hardly the only special thing about them. The exchange platform does not just provide security of data and funds, but there are always available liquid assets or cash on the platform. Take away high liquidity from any business or platform, and they will fold in little or no time. The spreads are competitive, and that is what traders pray for.
CUSTOMER SUPPORT
HitBTC provides round the clock customer support for their customers. Anyone that has had any experience with a platform with poor customer support can relate to how difficult it makes trading. Customers and traders will often run into technical situations that will require extra attention from the platform. This support is expected to always be available whenever they come knocking for help and answers. Some other platforms limit their customer support at providing answers to frequently asked questions only, but the needs of traders and customers are more than that. HitBTC responds in a lot of languages, which makes it easy for different nationals to access support or assistance whenever they want. The round the clock customer support includes a live chat or an email. The options for communication are plenty.
The advancement and introduction of technology on some trading platforms have made trading easy. Most traders do not trade by themselves anymore. They trade with bots that they can adjust the settings to enter and close trades for them intelligently. It is quite a popular technology, but most platforms are not sophisticated enough to support it. HitBTC supports the use of trading bots on their platform.
Traders on HitBTC do not have to struggle with current news and information. The platform provides a live chat for news and customer support. With access to current news, especially on the global economy and finance, much more informed decisions can be made. This is not normal for most platforms, but this exchange goes above and beyond to make the trading experience worthwhile for its customers.
You do not have to provide any personal details that you are not comfortable with. You are not even required to provide any details at all, as you do not have to register before you start trading. Traders who prefer anonymity are always welcome to this platform where you can do your business and keep it moving. More often than not, exchange platforms run into the problem of hacking where the target is the details and information of your customers. HitBTC makes sure that even though they are hacked, which is very unlikely, the perpetrators do not have anything to take away with them. This reason is one of the major reasons they have a lot of customers.
The traders or users of the HitBTC are provided compulsorily with two accounts, and this is not normal with most trading platforms. The first or main account is used for the storage of cryptocurrencies. This account does not accommodate any other activities aside from this primary assignment of storage. The second account is a trading account, and as the name implies, it is used for trading valuable financial assets. This account is programmed to fully serve this purpose or function. These two accounts are distinct in every way and are managed by the user.
Since the customers do not provide personal information about themselves during the registration, the platform classifies the customers’ accounts into three cadres. The first is the general account. The next is the verified account and, finally, the qualified account. This helps the platform to manage its customers properly, even though they are anonymous.
The interface of HitBTC has been described by its users as stress-free. Struggling to navigate or use an interface is frustrating, and there are few traders that have the patience for such complexity, and in all honesty, no one should have patience. An easy to use interface is another golden thing about the HitBTC platform. The customers are very satisfied with the ease of handling their business. If they need help with anything, it is hardly ever related to the navigation of the interface. With the number of positive reviews on the user interface of the exchange platform, they can brag about being one of the best.
THE COINS OFFERED BY THE PLATFORM
The platform, as mentioned earlier, offers over 400 digital currencies. The major cryptocurrencies are not left out in the collection. There is, as expected, the king of cryptos, Bitcoin. There are bitcoin cash and ethereum, ripple and DASH, litecoin, monero, veritaeseum. The other ones include aeon, aragon, bytom, cardano, centrality, cosmos, CRED, civic, chainlink, bytecoin, dai, decentraland, decred, dentacoin, dentcoin, digibyte, dogecoin, dragonchain, elastos fusion and even more altcoins that are too numerous to mention that are available on the platform which other platforms do not provide.
The options remain endless when trading with the platform, and whatever digital asset that is of interest to the trader is what they have provided.
ADVANTAGES
- The first merit of using the HitBTC exchange is that there is no minimum amount for a deposit, and this makes it financially easy for a trader to start trading with whatever they can afford at the time. It also does not force the trader into a position where they must trade with an amount of money that they are not comfortable with at a particular time. A trader wants to be confident with their money and be confident about the risk they want to take, and this platform has made sure of that by not setting a definite amount as a minimum for deposit.
- Other platforms want to make their profit from the charges or fees they get from credit and deposit or even buying and selling of the digital currencies. They charge steep fees for these services to make much profit, but the problem is that the traders are affected the most by these changes, and it does not protect their funds while discouraging them from engaging in a lot of transactions for fear of being charged. HitBTC on their part does not charge for deposit and withdrawals, but they charge very little fees for transactions. They charge a measly 0.1% of every transaction. The traders are happy with this fee, especially when they compare it to what other platforms are charging.
- While most people already have access to cryptocurrencies, there are a large number of people that would wish to convert their fiat money directly to cryptos on the platform they intend to trade on. This way, they are certain that they are dealing with a legal exchange platform. The problem is that most exchange platforms do not directly exchange fiat for cryptos. They would rather the trader changes the fiat for cryptos elsewhere then use the exchanged crypto to trade on their platform. This is a rigorous process for many, and most traders get discouraged easily by this. However, HitBTC makes it very easy for the trader or customer to directly change their fiat or traditional currencies to cryptocurrencies. They also allow the trader to enter trades with fiat money for/against cryptocurrencies and cryptocurrencies for cryptocurrencies. This makes it easy for an amateur trader to easily change its central bank-issued currency to cryptocurrency without being duped or so.
- They have a listing for more than 400 cryptocurrencies that can be traded as financial assets. This is huge for a trading and exchange platform. This range of options allows a trader room to explore the market and trade whatever asset they are interested in. Where other platforms are offering just the major coins like bitcoin and ethereum, HitBTC offers a large array of cryptos. Even the upcoming and most recent coins are on the platform.
- Dealing with a rigorous registration process is the first red flag, most website users, and indeed traders look out for. Once there is a frustrating process in signing up on a platform, then they lose interest and move over to another platform. HitBTC is one of the best platforms as they do not put their customers through the hardship of a rigorous registration. The customers find the registration seamless as they are also not required to provide any personal information which most other platforms unnecessarily require.
- The registration demands just an email and a password of your own choosing, which you are advised to keep strong. The verification of the email address is the next step, and in a matter of seconds, you are done with registration.
Summarily, HitBTC supports a range of tradable cryptocurrencies. They can be traded in pairs, or they could be traded against government-issued or traditional currencies. The choice of trading pair is determined by the trader. The platform is a haven for amateur traders that want to start up. They find the platform very easy to use, and the features are suited for any level of experience a trader has. A lot of token offerings can be found on this platform as well.
| ROBOT | RATING | PROPERTIES | TRADE |
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Free To Use | ✔90% Claimed Win-rate✔$250 Deposit✔Accepts Credit Card | Trade NowRead Review |
