HitBTC Review 2021

HitBTC cryptocurrency exchange was established in 2013; it permits the users to trade crypto along with numerous cryptocurrency pairs. HitBTC offers multi-currency support, and it has several million active users trading on its platform. HitBTC digital currency exchange interface is available in English, Korean, Chinese, Portuguese, and Spanish. This exchange was launched to support users who would like to trade cryptocurrencies. HitBTC has also launched a demo trading and an application that can be used for voting altcoins. Based on this, the users can select their preferred cryptocurrencies to trade on the platform.

HitBTC Summary

Headquarters Hong Kong
Found in 2013
Native Token Yes
Listed Cryptocurrency 450+
Trading Pairs 800+
Supported Fiat Currencies USD, EUR, AUD, GBP, and many more
Supported Countries Worldwide except Syria, Sudan, Cuba, the United States, Crimea, and North Korea
Minimum Deposit N/A
Deposit Fees 0.0006 BTC
Transaction Fees For Spot TradingMaker – 0.09 % to -0.01 %Taker – 0.09 % to 0.02 %
Withdrawal Fees Depends on Currency
Application Yes
Customer Support Online Support, Mail, Live Chat, & Social Support

What Is HitBTC?

HitBTC is a European Bitcoin exchange that started its project with 6 million received as venture capital in 2013 in Hong Kong. This platform offers its services globally without any restrictions. According to the HitBTC review, HitBTC offers its services to most of the European and Estonian markets; this exchange is easily accessible for Europe-based customers from different parts of the world.

HitBTC has an abbreviated Bitcoin(BTC) name in it and is a multi-currency digital exchange rather than a Bitcoin-based platform. HitBTC supports numerous trading pairs that have several cryptocurrencies, including some of the most popular crypto-assets. HitBTC team members have developed this platform keeping different types of users in mind. When it underwent the designing phase, the emphasis was solely laid on simplicity and easy to use interface for its users. One of the most important features offered by HitBTC is that it offers different types of accounts for the traders to choose from to match their trading style.

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How to Use HitBTC?

HitBTC is a leading cryptocurrency exchange that provides access to its customers to trade cryptos. This exchange is preferred by several millions of traders for the features and tools offered by the platform. Here are the steps about how to use HitBTC:-

  • To start using HitBTC, the user needs to register on the platform. They need to provide their full name, email address, a strong password, and then they need to agree to the terms and conditions. The user will receive a verification email to their inbox, and after clicking it, the account is activated.
  • The next step is to deposit funds into the trading account using the different payment options offered by HitBTC. The user can add their preferred cryptocurrencies like Bitcoin, Ethereum, USDT, etc., by scanning the QR code generated by the platform.
  • HitBTC website’s main page offers several basic information and displays trading charts accompanied by the various cryptocurrency trading volumes. Aside from trading volume, it contains information like exchange rate, changes in the latest market price, offer to buy or sell, trading volume for 24 hours, and several more. 

Features of HitBTC

Here are a few important features of the HitBTC exchange:-

  • As per our HitBTC review, the traders can buy and sell several cryptocurrencies using more than 800 cryptocurrency pairs. This exchange offers a wide choice of cryptocurrencies that can be used for trading, and it is one of the leading exchanges to enlist several emerging projects.
  • Suppose the user wants to trade Bitcoin or other cryptocurrencies. In that case, they can use the HitBTC crypto-to-crypto exchange, where they can buy cryptocurrencies or deposit Bitcoins and other supported currencies. HitBTC exchange does not ask for any verification as a part of the KYC process.
  • HitBTC is considered a secured exchange, and it is one of the few exchanges that have not undergone hacking before.
  • According to several reviews, this platform offers low trading fees; the Maker fee is 0.1%, and the taker fees are 0.25%.
  • HitBTC offers a robust and friendly API, and the traders can use their trading bot that works well with the platform API.
  • Besides, it offers a demo account for the new traders. New traders can try out this platform using this demo account without making any deposits. 

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Services Offered by HitBTC

Here are a few services offered by HitBTC:-

  • One of the major advantages offered by HitBTC exchange is convenience and modern features for their users, like charts, news, current exchange rate, descriptions, transaction history of various assets, etc.
  • This exchange not only allows profitable buying, selling, or exchanging different types of digital assets but also updates the general market situation around the world like regular updates and monitoring the current market movement.
  • HitBTC has become one of the topmost global crypto exchanges in terms of market liquidity as per CoinMarketCap. One advantage for advanced traders is that it offers an API by using bots that help them to trade cryptos automatically.
  • The users can take advantage of the HitBTC mobile app that is available for IOS and Android devices. Further, this mobile app can be downloaded on Google play store and Apple app store for traders to trade on the go.
  • HitBTC exchange offers an affiliate program where the traders can earn through referrals. This platform offers several rewards to their affiliates, thereby offering a good passive income for them.

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HitBTC Review: Pros and Cons

Pros Cons
right HitBTC fees are low when compared with trading fees of other exchanges. cancel US clients are not accepted by this platform.
right The user interface is simple to use. cancel HitBTC is not for beginners.
right There are no upper limits for deposits and withdrawal operations. cancel Mediocre customer support.
right It has a wide range of cryptocurrencies when compared with other exchanges. cancel HitBTC is not a regulated exchange.
right Users need not undergo the KYC process.
right HitBTC offers the highest level of security using 2FA and advanced encryption technology.
right HitBTC platform offers high exchange liquidity.

How to Register With HitBTC?

As per several HitBTC reviews, registering an account with HitBTC is simple and easy, and here are the steps to register on this platform.

Opening an Account

The user needs to visit the homepage of HitBTC and click the sign-up button found on the top right-hand corner of the page. The next step would be to enter the email address and choose a strong password. The user will be asked to provide their country of residence, telephone number, and full name. To verify, they need to check their emails where a verification link will be sent. The verification link opens to a new tab, and the user should enter the code provided in the mail.

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Funding HitBTC Account

After creating the account, the user should proceed with HitBTC login and deposit funds. If they are using a bank transfer to deposit funds, they should undergo a verification process which will take some time. If they are depositing using cryptocurrencies, the user need not verify their identity, and it takes not more than 20 minutes for the funds to show up in their account.

Purchase Few Cryptos

When the deposited funds are added to the account, the user can proceed with making a trade. The user clicking the exchange button will be taken to the trading area. On the trading screen, they can enter the crypto they would like to buy and click their preferred trading pair to buy coins.

Start Trading with HitBTC

When the user is on the trading screen and has the necessary funds, they can proceed with trading. HitBTC has high-volume trading in the crypto industry, and the trades are executed within a few seconds.

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Verification Process

  • This exchange has different verification tiers; unverified accounts are called starter; whereas the verified ones get an upgraded account status. If the user account needs to be verified, they should submit the documents such as:- 
    • Residential address with city zip code and the country of residence
    • Information like full name, date of birth, and nationality
    • Proof of Identity like drivers license, a copy of ID or passport
    • Phone number
    • A selfie holding an ID showing the current date and with the text “For HitBTC KYC”
  • HitBTC does not force the verification status to have an upgraded account. This process is necessary, and it offers the benefits like regaining access to the user account in case of forgetting passwords or two-factor authentication and low fees. 
  • One of the important features offered by the HitBTC trading platform is that the user trades without verifying their account. If they want to work with digital currencies, there is no need to offer any personal data. Verification is only needed if they like to exchange or use fiat currencies.
  • If the user wants to add or withdraw funds, they should provide the following personal information like name, address, country of residence, bank account, date of birth, and relevant scanned documents. 

HitBTC Fees

As per our HitBTC review, if the user wants to trade cryptocurrencies, HitBTC charges a simple fee structure. However, there is no deposit fee for using cryptocurrency; it charges withdrawal fees for placing orders or withdrawing more money from the platform. The flat fees charged by the platform are highly competitive, which implies that this platform is suitable for high-frequency traders. 

HitBTC Trading Fees

According to our HitBTC review, the trading fees of HitBTC are the lowest when compared with any other best Bitcoin exchange, and verified users should pay 0.1% as a maker fee and 0.2% as a taker fee. While the verified users fall into the category of HitBTC tier fee system that determines the higher trading fees depending on the trading volume carried out in the past 30 days. 

HitBTC Deposit & Withdrawal Fees

There are no fees charged for cryptocurrency withdrawals and deposits; however, HitBTC charges flat withdrawal fees, and there might be high fees for some new cryptocurrencies listed on the website. Need more info on fee details click here.

HitBTC Rebate Program 

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%. If they reach tier 8, like if they trade 50,000 Bitcoin a month or more, HitBTC will pay the user a rebate of -0.01% for every completed trade. If the trader liquidates a trade position for reaching the liquidation price, HitBTC charges a liquidation fee of 0.5% of the position value in the quoted currency.

HitBTC API

HitBTC’s API is robot-friendly; the trader can use the trading bot. HitBTC API has low latency data and execution feeds. This platform is friendly to the users who are involved in creating trading bots. The robot-friendly API of HitBTC uses low latency data for the cryptocurrency market. Users can find more information on API and API documentation on the website.

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How to Deposit & Withdraw on HitBTC?

  • If the user wants to deposit funds to their HitBTC account, they should first generate a wallet address. Then they need to click the deposit button identified in green color. The user needs to select the corresponding row they wish to deposit and click “fund.” When this is done, the user gets a wallet address with numbers and letters along with a QR code. 
  • If the user would like to withdraw coins, they should click the “accounts tab” 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. There are no restrictions on the HitBTC withdrawal limit.
  • Using a starter account, the trader can start trading immediately, keeping in mind that it is limited to cryptocurrency deposits and withdrawals. The limits are set to 1 Bitcoin daily and 5 Bitcoin monthly withdrawals that do not need verification.

How to Buy Crypto on HitBTC?

As per our HitBTC exchange review, the first step is to select a trading pair. To do this, the user should select the main currency which is available in the header of the chart along with the choice of trading pair.

HitBTC offers numerous trading pairs for trading on HitBTC with leverage. Further, the leverage starts from 3x to 12x. 

In the chart, the users should choose a currency they want to trade from the list. As soon as they choose the currency, the page refreshes automatically and shows the information about the selected trading pair. 

Types of HitBTC Orders

List of orders types offered by the platform:-

  • Market orders 
  • Limit orders 
  • Scaled orders

Exploring the HitBTC Trading View

If the user wants to trade with HitBTC, they should add funds to their account first; they can go to the account section where their fund balances are displayed. They should transfer their funds from their main account to their trading account. When they have transferred funds to the trading wallet, they can proceed with trading. The next step is to proceed to the exchange section, where it contains information about the latest pairs available, choice of trading pair, the rate chart of the preferred trading pair, etc. The user can see the open orders displayed on the screen, and they can also find a user chat on the same screen.

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HitBTC Supported Currencies and Countries

Supported Currencies

HitBTC offers over 800 trading pairs. The user can trade Bitcoin and other cryptocurrencies on the platform. Aside from Bitcoin, they can trade with some major cryptocurrencies like Ripple, Ethereum, Stellar, etc. Also, the user has the option to access altcoins that can develop in the future. If the user wants to trade with HitBTC, they can get a combination of crypto-to-fiat and crypto-to-crypto currency pairs. This exchange offers various digital currencies that include some of the most popular and leading cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, Monero, etc.

Supported Countries

HitBTC is available in almost all countries except Syria, Sudan, Cuba, the United States, Crimea, and North Korea. This platform has a wide global reach where the traders can access the platform from their country of residence. The above countries are barred from accessing this exchange because of regulatory provisions or financial restrictions.

HitBTC Customer Support

HitBTC customer support team operates 24 hours a day and monitors the system operation page. They can be contacted through an online support form. Also, it offers the below options for the users to contact them through the below channels. 

  • Online support form
  • Emails – [email protected]
  • Live chat option
  • Twitter – twitter.com/HitBTC

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HitBTC Review: Final Thoughts

To conclude, HitBTC is one of the leading and secured crypto exchanges that offers several features. Some of them include lower fees for trading, strict security measures, several features and tools for experienced traders. Also, according to CoinMarketCap, it is one of the biggest and top exchanges. It is a must to choose the right kind of cryptocurrency exchange for daily trading volumes and HitBTC lists several hundreds of crypto coins with highly competitive fees. Further, this platform can be easily used by a new trader; it offers a demo account to practice trading, detailed tips, and if the users have any queries, they can contact customer support immediately.

FAQs

Is HitBTC Legit &Safe?

HitBTC is considered a legit & safe platform as it has included many security features to protect its users. Also, there is no proof that this platform has been hacked which shows strong security. It offers several measures to maintain the data and ensures the traders use two-factor authentication. Also, HitBTC users are prompted for a password when a new account is created for security reasons.

Has HitBTC Been Hacked?

No, HitBTC is one of the few exchanges that has not been hacked till now.

How Can I Withdraw From HitBTC?

If the user wants to withdraw funds, they need to go to the account section, choose the coin and click the withdraw button. They need to specify the amount they would like to withdraw, and it immediately shows how much they will receive after calculating the commission.

Can I Trade on HitBTC Without KYC?

HitBTC does not ask KYC procedure from every trader, but it will ask the traders to read their terms and conditions before using their platform.

Can US Citizens Use HitBTC?

HitBTC is one of the popular cryptocurrency exchanges which is preferred for trading platforms that US traders cannot access. According to its official terms of use, the USA residents are not permitted to use the service that also includes other jurisdictions within the USA.

Risk Disclaimer – Trading cryptocurrencies is a complex instrument and comes with a high risk of losing money rapidly due to leverage. You should do your research and consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

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