HitBTC

HitBTC

HitBTC
In Social Media:
Intuitive Ease of use,  Enough secure,  Anonymously trading

Volume 24H: $162,545,878

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.

Traditional Currency Support

  • Euros (EUR)
  • US Dollar (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

  • Web Interface
  • API
  • Allows High frequencey trading bot

Stock Market Options

Interface
customisation:

  • Allows customization of charts
  • Allows light and dark theme
  • Allows the movement or resizing of boxes
  • Allows Advanced and Basic option

Advanced
Options:

  • Limit Order
  • Market Order
  • Immediate or Cancel IOC
  • Fill or Kill
  • Good till canceled order (GTC)
  • Over-the-counter (OTC) order

Discounts For
The Big Traders:

  • Reduced Maker fees

HitBTC security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
Funds are not insured
Private Keys Stored On
Exchange platform
Storage Type
Hot storage

Advanced Security Features:

  • Email reports of logins
  • Limit amount of daily trades
  • Limit amount of daily withdrawls
  • Email Notification of withdrawal

Security Features:

  • SSL
  • Bank Level Encryption
  • Regular data replication and backup

Legal Registration or Compliance:

  • KYC/AML Compliant

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 c 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