Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD. Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market. Full Fraud and Exit Scams – Still other crypto exchanges and projects are scams from the beginning. Some try to be ongoing scams, staying active as long as possible before being forced to cease operations by authorities. Still others , just keep the platform up and running as long as it takes for them to make the money they want, then they close it down and take everybody’s money. It’s entirely possible that their many problems are due to high demand, lack of talent, and a few bad apples.
This is a major concern, as you are essentially trusting your money with a cryptocurrency exchange that is unregulated. Once your deposited funds show up in your HitBTC account, you can then make your first trade. At the top left hand side of page, click on the ‘Exchange’ button. This can look quite intimidating if you’ve never traded before. On the right side of the trading screen, enter the coin that you want to buy, and then click on your chosen trading pair.
Either enter the name of your coin on the right-hand side or scroll through the list and select the coin you want to buy. Today we will review HitBTC, a cryptocurrency exchange that offers high liquidity and access to the largest cryptocurrency collection in the industry. 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. If the safety of your funds is your top priority , we instead prefer heavily regulated platforms like Coinbase. Not only do they hold two regulatory licenses, but the platform is simple to use, it allows you deposit funds using multiple fiat options, and you can even short coins. Trading Platform – HitBTC’s main service is their trading platform.
Hitbtc Review: Summary
Some sources claim that HitBTC was hacked in early 2015 together with BTER and Excoin exchanges, though the information hasn’t been confirmed. By your side 24 hours a day, our support team will assist you with any issue or question you may have. VibraVid.io has officially launched its MVP, with music and video content for a global audience. The platform has attracted more than 1,200 new users in the first week of operation.
You have not responded to my question asking *what* you are doing to restore withdrawals. All you tell me is that you are doing something and it takes time, but it’s been 9 months now so I no longer believe you. As a user of your platform for many years, I demand an answer.
— Foxy Incognito (@MedwayBDS) December 4, 2021
HitBTC offers a range of APIs such as REST, WebSocket, FIX API. The UI was developed to meet the needs of the most demanding and sophisticated traders. Users can take advantage of rebates and competitive trading fees via the Trading Fee Tier system. HitBTC lists over 300 different cryptocurrencies, which equates to over 800 different trading pairs. While HitBTC is a global cryptocurrency exchange, and thus, the vast majority of countries are supported, certain restrictions exist.
Ixfi Announces The Launch Of A New Exchange Platform
You’ll find all the needed information on how to do that below. Since we’re already done with the positive aspects of this HitBTC review, it’s time to jump to the less pleasant part and discuss what this crypto exchange is missing. Remember, though – if you’d like to check out some better alternatives, feel free to visit Coinbase or Binance. Now, when it comes to trading, one of the aspects that might influence your decisions on which of the platforms to choose is trading fees. If you’re into daily trading this is especially important to you. One example of an exchange that drastically improved their user experience was Kraken. With recent updates to Kraken’s user experience, it has completely turned around the way users think about the exchange.
They neither provide value for the exchange, nor the users who are building portfolios and becoming confused by the different unknown cryptocurrencies. HitBTC has one of the largest selection of cryptocurrencies with 887 live trading pairs on the exchange. In addition to the large selection of assets, they also support a healthy number of quote currencies that can be used for routing orders, executing arbitrage, and more. The APIs provide a way for developers to execute high frequency, algorithmic, and real-time trading strategies. When such things take place, many users begin to question the exchange’s intentions and publish negative reviews on numerous websites and social media. These delays in fixing tech problems may harm the people’s trust in the company and worsen the trading experience.
But if HitBTC closes operations in the coming days, as many are suggesting they will, we can quickly ascertain that HitBTC was nothing more than a fraud for exit scammers. At its best, HitBTC was an intuitive and reliable exchange, allowing users to trade some of cryptocurrency’s most popular assets . HitBTC was founded in 2013 and went into public operation the next year. For the next couple of years, things went smoothly for the most part. If you want your account to be extremely secure make sure to create a strong password. Also, it’s recommended to have a dedicated email account for trading and keep your coins in secure cryptocurrency wallets. The most recommended cold wallets include Ledger and Trezor.
Without good management, these problems will increase and HitBTC may not be able to recover. Like we said earlier, HitBTC is far from the only cryptocurrency exchange to go south, often resulting in the loss of user funds.
Wild Growth Rates – One of the most difficult parts of doing business for all cryptocurrency exchanges is the sheer rate at which these exchanges have had to grow. Exchange giant Binance added more than 250,000 users in a single day last year! These astronomical growth rates have led to other exchanges, like Kraken and Bittrex, to temporarily stop accepting new users. It’s possible that as HitBTC has grown, many more problems have surfaced, and individual user issues have started to fall through the cracks.
It’s important to note that HitBTC is an unregulated exchange, although it does comply with KYC and AML (anti-money laundering) regulations. It also values users’ data and privacy and is entirely GDPR compliant, as you can delete your data from the exchange at any time. In early 2019, just a few days prior to the annual “Proof of Keys” event, HitBTC came under fire for disabling user withdrawals. However, the exchange didn’t make a big deal out of the situation.
- Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place.
- It is possible to monitor exchange markets, collect you favourite symbols in one view for quick access, view detailed information on each trading pair.
- HitBTC has around six million venture capital investments in Hong Kong, but it focuses more on the European crypto markets.
- TORG is secured as an ERC-20 token on the Ethereum blockchain.
- The value of digital currencies can go up or down frequently.
The exchange platform (i.e. Binance) acts as a middleman – it connects you with that other person . With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses are usually just thrown under the umbrella term – exchange.
Features Of Hitbtc
It doesn’t matter if a platform is easy to use, has low fees and other exceptional features if your account can be hacked at any second, leaving you empty-handed. While some platforms support up to 10 cryptocurrencies, others can support hundreds and even more. Needless to say, the more options you get, the better it is.
It’s important to fill the additional identifier fields that certain currencies have. If you fail to do that, you will have to ask for the help of HitBTC support team to finish funding your account.
The Most Advanced Bitcoin Exchange
Make the most out of your trading bot with our leading API and its low latency data and execution feeds. Our terminal is built on the best technology and lets you trade effortlessly any of the HitBTC currency pairs. You just need to enter your email, put a strong password in and you will get a verification code or link sent to your email within seconds. Mobile HitBTC give you access to view your balances, opened orders, trading and transaction history. A stop limit order is an amalgamation of a stop order and a limit order. In this order type, a stop order has the ability to transcend into a limit order once a specific limit is reached, after which it gets executed only when a specific or a better price is met.
Cryptocurrency exchanges, HitBTC virtual currencies are really different from other exchanges when they cansupport both cash transactions and C-To-C (Cryoto –to – Crypto) transactions. There will be three main levels on the crypto exchange HitBTC. We have seen a strong need for better media coverage in the industry as the rise and popularity of digital currency is at an all-time high.
Other than that, the exchange also implements cold storage and advance encryption features when it comes to its infrastructure so users’ funds could remain safe and secure at all times. HitBTC functions as a conventional cryptocurrency exchange with a focus on altcoins, where it lists some of the newest coins and tokens that hit the market. The cryptocurrency exchange industry is one of the fastest growing segments of this evolving market. With this feature, you can add any deposit addresses that you trust.
Services Offered By Hitbtc
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. After creating the account, the user should proceed with HitBTC login and deposit funds.
This will attract first-time cryptocurrency traders because they can turn fiat into crypto very easily. That is why, looking at the information that we gathered and presented, we would recommend users to not use HitBTC as their primary exchange at the very least.
As a result, you have been temporary blocked from accessing the website. After completing this captcha request, you can continue to access the site as normal. We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date.
For example, a few users have complained that the support team didn’t answer questions beyond the initial inquiry. While it is a positive that HitBTC does have a social media option for addressing customer issues , there have often been queues of unanswered questions at times.
In this mode all transactions are made for practice purposes. It was originally started with a six million euro investment, and was a true group effort between traders, developers, and investors. It was started with the goal of creating an advanced trading platform for professional traders. HitBTC offers robust security measurements and will protect your assets even if your personal details, such as account information and email address, are compromised.
Only then can the better exchanges rise to their deserved level of prominence. HitBTCis a cryptocurrency exchange platform that offers high liquidity and supports hundreds of cryptocurrencies.
Author: Tor Constantino