HitBTC
- Overview
- Security
- User Experience
Volume 24H: BTC 60,506/24h
HitBTC is a very popular platform that calls itself 'the most developed cryptocurrency exchange' and offers hundreds of trading pairs, including both crypto and fiat currencies. It offers complex trading options and the team continuously adds new features and functions. There are several account types, and bigger volume traders have to provide additional documents to get trading limits removed.
In terms of user experience, HitBTC offers a great variety of options and features which could even help a first-time get started with trading. The design of the platform looks professional and well-maintained and there are a lot of instructions and explanations of the different trading operations users can make. Users should not use it to store coins and instead use a more secure wallet.
Crypto Currencies Support
- BCH
- DASH
- DOGE
- ETC
- ETH
- GNO
- ICN
- LSK
- LTC
- STRAT
- USDT
- XMR
- ZEC
Traditional Currency Support
- EUR
- USD
Language Support
- Chinese
- English
Country Support
- Australia
- Canada
- China
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- United States of America
Platforms Systems
- — Allows High Frequencey Trading Bot
- — Api
- — Web Interface
Stock Market Options
HitBTC has good security features like 2-factor authentication and IP access lists. However, users express doubts because the company's location is unknown and there are no official documents. Withdrawals have been halted for some currencies multiple times. This has led users to worry about the safety of the exchange. They also had a hack in 2015, but didn't provide much information about it.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | Hot |
One of the biggest issues with HitBTC is that we don't know where the company behind the exchange is located and who runs it. There is conflicting information online claiming it is either in the UK, Estonia, Hong Kong, or Panama. The website doesn't explicitly answer this, but it says the company was founded with a 6 million Euro venture capital investment.
Summary:
The HitBTC platform is indeed quite advanced technically and looks like a trustworthy service at first glance, but there is so much talk about users having bad experiences and not receiving the help they need from the service that it is hard not to be suspicious even if some of those negative reviews might be fake or exaggerated. There is no transparency about the company's origins.
| Ease of use | Intuitive |
| Transaction Fees | 0.1-0.29% |
| Deposit/Withdrawal Fee | Free Deposits, Flat Rates In Crypto Units For Withdrawals (eg. 0.00085 BTC) |
| Deposit/Withdrawal Fee For Bank Transfer | EUR: 5/deposit, 30/withdrawal; USD 1%/deposit, 2% Withdrawal |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | EUR: 5/deposit, 30/withdrawal; USD 1%/deposit, 2% Withdrawal |
| Anonymous Trading | Yes |
Deposit/Withdrawal Options:
Deposit from bank account, Deposit using 3rd party, Withdrawl funds to bank account, Send/Receive Crypto
Functionality:
HitBTC has a variety of order types and currencies and a trading demo (in maintenance). However, there are many complaints about their services, with users claiming they lost money on HitBTC. There are even rumors of it being a scam, but it is more likely that the team couldn't keep up with the number of users and transactions. New users should read the latest forum discussions before trading.
Most common customer complaint:
— bad customer service, funds lost, withdrawals blocked, information about the company unavailable, some say large trading volumes are artificially increased