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The Ullus Corporation has managed and operated the HitBTC trading platform since its foundation in 2013. HitBTC is considered a secured exchange, and it is one of the few exchanges that have not undergone hacking before. Thanks for sharing your experience with me it was really helpful , i have been able to hitbtc exchange review withdraw my money as well. Please note that your feedback may be crucial for the user when choosing a product, so try to avoid inaccuracies and unreasonable criticism. Scaled – Scaled order – a set of several buy or sell orders, which is automatically distributed between the user-defined price range .
Founded in 2013, HitBTC has become one of the popular cryptocurrency exchanges operating internationally. There are many users of HitBTC complaining that their money was stolen from their accounts. The company is silent on this issue and it seems suspicious to the majority of the users.
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Moreover, the AML/KYC rules compliance allows HitBTC to keep working in the countries with strict cryptocurrency regulations. On September 20, 2021, the exchange has introduced a new feature Perpetual Futures Trading. Perpetual futures have no expiration date so the opened positions can stay active for as much time as needed. Perpetual futures are less risky traders can use small amounts of money for hedging the market. More than that, the futures contracts use isolated margins. It allows traders to change the asset used as collateral for open positions.
HitBTC also offers personalized OTC (over-the-counter) trading services for high-volume traders. Over the counter traders take place as a result of a partnership https://forex-review.net/ with TrustedVolumes.com. For one, it lets users set up two-factor authentication for all their transactions, adding an extra layer of safety.
HitBTC and Bittrex are two of the largest trading platforms on the market. Both have solid reputations and are desirable for currency traders. This review of Bittrex vs. HitBTC will help you decide for yourself. Cex is a popular trading platform known for its high level of security and worldwide coverage. If you’re looking for an exchange that accepts credit cards, this one is it. Competitive commissions, margin trading, and transparent compliance are all reasons for choosing this platform over HitBTC.Read our Cex.io Exchange Review.
Happily, such situations are rather exceptional as most withdrawals are performed smoothly. What’s more important is that people who have to wait for the support team response, eventually get this response. The support team doesn’t leave them over and solve their problems as soon as they have time for that.
The exchange has markets for trading digital assets, tokens and ICOs and provides a wide range of tools as well as stable uptime. As is the case with most third-party cryptocurrency exchanges, HitBTC only offers a web wallet. This type of wallet offers the lowest security on your funds, not least because you have no control over your private keys. This means that should the platform get hacked, your funds are largely at risk. If you haven’t quite got the time to read our review all of the way through, then we concluded by noting that we cannot recommend HitBTC as a credible exchange. The platform not only has a history of moving from jurisdiction-to-jurisdiction, but it has a significant number of bad reviews in the crypto community.
But for every negative review, there was a positive one from a trusted source. In general, the crypto crowd still stands by HitBTC as a good platform, even if it has support issues and is not user-friendly. Despite being the 5th largest trader by volume and one of the most advanced platforms on the web, reviews have not been kind to HitBTC.
Do I need to verify my identity to use HitBTC?
One of the main concerns regarding HitBTC is accountability. The reason for this is that it still remains to be seen where the company is actually based. For example, at the time of writing the exchange offers a mailing address in Hong Kong, however it also claims to have office representatives in Chile and Estonia. This should act as a major red flag when dealing with an exchange, not least because if anything happened to your funds, it would be difficult to know where to turn to. The very first aspect that multiple HitBTC reviews distinguished is the fact that this crypto exchange has poor customer support.
- But for high limits, a range of currency options, detailed information, and very low fees, it is worth the pain.
- Hence, if you want to have a real trading experience without risking anything, you should definitely give it a try.
- If you’re already part of the crypto game, you know that this industry has you in for everything but a steady ride.
- Having said all that, many customers are perfectly happy with HitBTC, recommending that you clear the KYC procedure and enable 2-FA before making a deposit in order to avoid any problems.
This is because you are “taking” the price you want right now by buying or selling limit orders sitting on the books. To confirm if there was a hack, you can view your latest activity, which records when you logged in/out, withdrew or deposited money or changed your password. They also have positive reviews for their high availability, uptime, and fault tolerance. HitBTC is a relatively new exchange that claims to be the most advanced in the crypto space.
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Suppose the user wants to trade Bitcoin or other cryptocurrencies. In that case, they can use the HitBTC crypto-to-crypto exchange to buy cryptocurrencies or deposit Bitcoins and other supported currencies. HitBTC exchange does not ask for any verification as a part of the KYC process.
There have also been reported inconsistencies between the fees that some users are paying for transfers. Some users claim they have been charged high fees whereas others have had no issues. This slow customer support is also not ideal when it comes to verifying your KYC documents. As mentioned, as an exchange, HitBTC will get benefits if their traders are able to provide some liquidity to their order books in the form of a market maker. For those who have used the MT4 software will know just how advanced it is.
They are not insured or well-regulated by any major body, so if they were to be hacked or suddenly go offline, this could spell major problems for their users. With such a long-running commitment to remaining in business, this doesn’t seem likely, however. The verification process can take anywhere from 1 – 3 business days, and may take longer under certain circumstances. After pressing “Sign Up”, you will need to enter in an email address and create a password. Next, you’ll be asked to provide your country of residence, first and last name, and a telephone number.
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Read fact-based BitDegree crypto reviews, tutorials & comparisons – make an informed decision by choosing only the most secure & trustful crypto companies. While such a verification process is quite regular to all crypto exchange platforms that take security seriously, it might take a while to provide all the needed information. Today, I’ll introduce to you HitBTC, one of the better-known crypto exchange platforms where you can buy and sell Bitcoin, Ethereum, Litecoin, EOS and multiple other cryptocurrencies.
This exchange will lie to its customers about their assets. In March 2019, HitBTC announced that is was getting close to launching its native mobile app. Although the app is now available to download free of charge via the Google Play store, it is still in development mode.
Go to the company’s main page and click the “Sign Up” button that you will find in the top right corner of the page. That being said, it’s recommended to wait for the app to be completely developed in order to have a full experience. You can go to the settings page and enable automatic logouts. Don’t forget to choose a preferred time period after which you’ll be automatically logged out, for example, 1 day, 2 days, etc.
Most common problems people have complained about are withdrawal delays and inexplicable loss of funds. If the user wants to withdraw coins, they should click the “accounts tab” and then click the withdrawal column, which displays every crypto and fiat money. If the user wishes to withdraw money, they should have coins in their main account; they need to click withdraw. HitBTC offers a rebate program for their market makers; market makers provide the exchange with high liquidity, where they get a rebate of 0.01%.