HitBTC Review [The Ultimate Guide 2022]

HitBTC is a global trading platform with multi-currency support and advertises itself as “the most advanced Bitcoin exchange.” The exchange is well-known for its Low fees and fast trading engine. Wide range of trading pairs.. HitBTC has highly liquid platforms for trading digital assets tokens, fiat currencies, and digital assets (USD, EUR).).

Professional traders are fond of the HitBTC European exchange. Advanced traders will love the HitBTC European-based exchange because of its large range of services and products as well as low trading fees (0.1%). The UI is simple and it allows anonymous trading.

HitBTC lets HitBTC customers trade cryptocurrency along with many other currency pairs. HitBTC also offers a Demo trading platform and voting app that allow beginners to trade crypto on the Demo platform. HitBTC hosts various contests to help traders compare their trading skills and gain experience.

This HitBTC review will reveal everything you need to know about the HitBTC exchange, its features, services, trading fees, etc., to help you decide if it’s a suitable exchange for you.

So without further ado, let’s get started!

What exactly is HitBTC

HitBTC, formerly Hit Solution Limited, was founded in Hong Kong in 2013. Six million was contributed by angel investors. HitBTC serves most European and Estonian markets, but it’s also easily accessible to users across the globe, with several exclusions.

HitBTC, a digital currency exchange that supports multiple currencies and specializes in spot trading altcoins, is available. It’s an old-time Bitcoin exchange that supports a wide variety of digital assets, including major cryptocurrencies, low cap altcoins, and trading pairs.

The HitBTC team has designed HitBTC with different types of traders in mind. They offer several accounts that can be customized to suit their trading preferences. HitBTC has a number of APIs available to assist advanced traders in automating their trades.

HitBTC Core Matching Engine (the engine that performs transactions) runs at lightning speed, has a high liquidity, supports multiple cryptocurrencies and comes with a sophisticated dashboard. HitBTC’s range of trading options and anonymity at low levels are just some reasons professional traders choose HitBTC.

How to use HitBTC

These are the steps to trade cryptocurrency on HitBTC’s cryptocurrency exchange:

• Before you can use HitBTC, create an account by entering your name, contact number and email address. After that, agree to the Terms and Conditions. You’ll receive a verification email, and your account will be activated after clicking on it.
• Next, you will need to fund your trading account using the different payment options offered by HitBTC. To start trading, users can scan the QR code provided by HitBTC to add their preferred cryptocurrencies such as Bitcoin and Ethereum.
• HitBTC provides fundamental information as well as trading charts. It also displays the trading volume for each cryptocurrency. The website also contains information on market prices, changes in exchange rates and offers to buy or sell.

HitBTC Features

HitBTC Review has identified the most important features of HitBTC’s exchange such as:

• HitBTC ranks among the best global cryptocurrency exchanges in terms of market liquidity. It offers more than 800 currency pairs as well as a variety of cryptocurrencies including a number of emerging ones.
• The HitBTC exchange doesn’t require any KYC verification to trade Bitcoin or other cryptocurrencies.
• HitBTC, one of few cryptocurrency exchanges not hacked, is safe.
• HitBTC charges very low trading fees. HitBTC’s maker fee of 0.1% is the maker fee, while the taker fee at 0.25% is the taker.
• HitBTC offers a user-friendly and robust API. Traders can use their trading bot to communicate with HitBTC.
• HitBTC has a demo account that is available to new traders, which allows them to experience the platform before making deposits.
• HitBTC allows you to trade tokens and cryptocurrencies as well as ICOs. It also offers fiat trading platforms with USD or EUR trading pairs. HitBTC offers a trading platform that allows novice traders and professionals to trade easily. The platform uses cutting-edge technology to offer reliable and fast service.
• HitBTC’s affiliate program allows traders to make money by referring people. The affiliates receive many incentives, which results in high passive income.

HitBTC Services

HitBTC also offers these services:

Trading platform HitBTC’s core offering is its trading platform that offers complex trading options, a slick user interface, and demo trading accounts for those who aren’t ready to risk real money trading Bitcoin just yet.

OTC trading: HitBTC offers high volume traders customized OTC (over the counter) trading services through a partnership with TrustedVolumes.com.

To be eligible for HitBTC’s OTC service, you must exchange more than $100,000 for each trade, and each transaction will be charged a 0.1% transaction fee.

Token Listing:HitBTC, a popular platform that allows organizations to launch their tokens can list them on HitBTC.

Margin trading:HitBTC offers cryptocurrency margin trading via the MetaTrader5 Terminal to traders who wish to leverage their trades.

API: HitBTC offers many APIs including access to the programmatic trading engine and API for Financial Information Exchange (FIX).

How to register a HitBTC account

HitBTC accounts are easy to open. The steps can be found below.

1. Make an Account

Click the Sign-up button located in the upper-right-hand corner on HitBTC’s homepage. Next, enter your email address to create a password. Please enter your name and contact number. To verify your email address, you will receive a verification link via email. You must enter the code in that message.

2. You can deposit funds

You must login to HitBTC after creating your account. After that, make a deposit. To deposit money using a bank wire transfer, you will need to complete a long verification process. If you deposit cryptocurrencies, you don’t need to prove your identity, and the funds will be available in your account in less than 20 minutes.

3. Purchase Cryptocurrencies

When the deposited funds are added to the account, you’re all set to start trading. You’ll be directed to the trading area after clicking the exchange button. The trading screen will allow you to enter your desired cryptocurrency and choose your preferred trading pair. HitBTC offers high-volume trading. Trades are completed in seconds.

HitBTC Verification

HitBTC features multiple levels of verification – unverified accounts are referred to as starters, whereas verified accounts get an upgraded account status. HitBTC allows users to trade without having their accounts verified.

The following documents must be submitted by a user to get their identity verified:

• Address of residence, city and state.
• Name, date of birth, and nationality.
• A proof of identity, such as a driver’s license or copy of a Government ID, is required.
• Number.
• A selfie with an ID displaying the current date and the text “For HitBTC KYC.”

HitBTC will require you to follow these steps to upgrade your account. It offers many advantages, such as two-factor authentication, low costs, and the possibility to recover access to your user account in the event that passwords have been lost.

HitBTC’s trading platform allows you to trade even if your account has not been verified. If users use digital currency, no personal data is needed. But those trading regularly with fiat currency and bitcoin are required to submit verification. For adding funds or withdrawing them, personal information must include name, address and country of residence.

HitBTC Review – Fees

HitBTC’s review revealed the basic fee structure that customers can use to trade cryptocurrency on HitBTC. The exchange doesn’t charge any fees for cryptocurrency deposits; however, there is a fee for placing orders and withdrawing funds from the site.

HitBTC trading fees

HitBTC’s fees are some of the lowest in this industry. Users who are not verified pay 0.1% in maker fees and 0.2% for taker fees. Meanwhile, verified users fall under HitBTC’s tier fee structure, which determines trading fees depending on the user’s trading volume over the last 30 days.

HitBTC Deposit & Withdrawal Fees

HitBTC doesn’t charge any fees for cryptocurrency withdrawals or deposits. For some newly-listed cryptocurrencies, however, withdrawals can become very expensive due to flat fees.

HitBTC Rebate Programme

HitBTC offers a rebate program for market makers that provide liquidity to the exchange. They also receive a refund of 0.01%. HitBTC offers a refund of 0.01% for each trade completed if users reach tier 10. This means that they must trade at least 50,000 Bitcoin per month. HitBTC will charge 0.5% for every trade that is liquidated to achieve the liquidation prices.

How to Deposit & Withdraw on HitBTC

First, create a wallet address. Then click on the green deposit button to deposit funds to your HitBTC bank account. You must choose the correct row and click “fund” to receive a wallet address with numbers and letters, along with a QR code.

To withdraw coins, users must first go to the “accounts tab,” then to the withdrawal column, which displays all crypto and fiat money. First, make sure that you have the coins in your primary bank account before you can click withdraw. HitBTC doesn’t have any withdrawal limits.

The starter account permits users to trade immediately. However, withdrawal limits for each day are 1 Bitcoin and monthly is 5 Bitcoin. No verification is required.

HitBTC: The Best Way to Buy Crypto

Our HitBTC review will next examine trading cryptocurrency on HitBTC. First, you must pick the main currency from the chart’s header, followed by the trading pair. HitBTC has a large selection of trading pairs available for leveraged trades, with varying rates from 3x to 12x.

Select a currency from the chart’s list, and the page will instantly refresh and display information about the chosen trading pair.

HitBTC Order Types

You can place the following orders through the platform:

• Limit Order
• Market Order
• Scaled Order
• Place Only Order
• Do not place an order.

HitBTC Trading View

HitBTC’s main dashboard is where all trades occur. You can arrange the trading windows according to your preference. The following features are available:

1. A graph/timeline showing the currency’s value.
2. Supported cryptocurrency markets’ table.
3. For placing orders to buy or sell, panels are available.
4. A panel displaying the user’s orders and trades.
5. Graph displaying the depth of a cryptocurrency pair’s particular market.
6. The order books are displayed on two panels for the purchase and sale of currency.
7. An overview panel that displays the market history and a time line of trades within a certain cryptocurrency pair.
8. Trollbox is a place to chat with traders.

HitBTC supports currencies and countries

Supported Currencies

HitBTC offers over 800 trading pairs, including Bitcoin Ripple Ethereum Stellar and Ethereum. Users can also access the future cryptocurrency. The user can pick between crypto to-crypto or crypto-to fiat currency pairings.

Supported Countries

HitBTC is a worldwide company. The terms and conditions of HitBTC state, however, that only residents or businesses from the following countries can use its services.

• Cuba
• Crimea and Sevastopol
• North Korea
• Sudan
• Syria
• United States of America
• All other countries or regions that the United States of America have embargoed.

You must verify that you’re not a citizen or resident of one of the nations listed above when you sign up for the platform.

HitBTC Mobile App 

HitBTC’s mobile application for iOS and Android is available to trades. You can find the app on the Apple Store as well as the Google Play Store.

HitBTC Demo Trading

HitBTC offers beginners an opportunity to trade cryptocurrencies using its demo platform. The demo platform can be used by anyone by clicking the button at the bottom, or entering demo.hitbtc.com directly in your browser.

To use the demo platform, you will need to create another account. The trial account offers USDT 4000 worth of cryptocurrency. This allows you to test out hypothetical strategies and portfolios, or just get familiar with the HitBTC platform and cryptocurrency trading.

HitBTC Customer Support

HitBTC Customer Support is open 24 hours a day, and they can be reached through an online contact form. Additional options are available to users, as listed below.

HitBTC’s negative reviews mostly focus on its slow withdrawals and poor customer service.

Questions

1. Is HitBTC Legit & Safe

HitBTC is regarded as a legitimate and secure platform since it employs various security measures to safeguard users’ funds and data, such as two-factor authentication, cold storage, and advanced encryption technology. There is also no evidence that HitBTC has been hacked.

2. HitBTC Hacked?

No, HitBTC is among the few exchanges that haven’t been hacked till now.

3. Can US Citizens Use HitBTC

According to its terms of service, US residents aren’t permitted to use the HitBTC cryptocurrency exchange.

4. What Time Does It Take to Withdraw?

HitBTC isn’t known for its fast withdrawal timeframes. These withdrawals can be delayed up to three weeks!

HitBTC: The Final Thoughts

HitBTC is an established and trusted crypto exchange. It offers excellent rates of exchange and has the largest selection in cryptocurrency markets. The exchange is relatively simple to use; however, it’s best suited to more experienced traders.

HitBTC is criticized for being an anonymous, unregulated exchange located in an unknown location. HitBTC, an obscure exchange in an unregulated location, will continue to attract many loyal followers and dissatisfied opponents.

It all comes down to your trust level and risk tolerance. Are you comfortable enough with the exchange to make large deposits of cryptocurrency? Are you more comfortable with a fully KYC compliant exchange, which may charge higher trading fees?

In this case, it’s better to trust your instincts and remember the golden rule – never trade money you can’t afford to lose.

Also, you can visit www. CoinStats blogLearn more about wallets portfolio trackersExplore our detailed reviews of various crypto exchanges such as BKEX, Bybit, Crypto.com, BitMEX, FinexBox, Binance, WazirX, etc. You want to know more? Our articles will help you understand the history of cryptocurrency, blockchain technology and decentralized finance. What is DeFi?, How to buy cryptocurrencyYou can find out more.

We offer investment adviceThis website contains information that is intended to be informative. It does not recommend you to purchase, sell or hold any security, financial product or instrument.

The market for cryptocurrency can be volatile and subject to secondary activity. Do your research thoroughly, get your own advice and don’t invest more than you can afford. Trading stocks and CFDs can be risky. CFD trading can cause losses of between 74-89 percent in retail investor accounts. Before making an investment, you should carefully consider your situation and seek out your own counsel. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant regulators’ websites before making any decision.