Cryptocurrency exchange

HitBTC Review How I Lost $3000 dollars and counting .. 2022 updated

HitBTC Review

Nonetheless, there are a lot of issues that the exchange should address. Fund security, customer service experience, and clarification on various exchange policies are all areas that could improve. Hopefully, our HitBTC review can help you determine whether or not this exchange is a good option for you. Both exchanges support plenty of trading pairs and provide high accuracy thanks to high liquidity and strong matching engines. However, HitBTC offers more trading pairs and supports twice as many coins as Binance — over 370. If you are looking for some specific coin there are more chances of finding it on HitBTC.

HitBTC Review

The Demo account is suitable for beginners who want to have a real-time experience in trading. That being said, you can credit yourself with a test fund and apply different strategies when trading. 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. If you’re still a newbie in the crypto world and do not know which aspects matter when choosing a crypto exchange platform, I can help you. Then, choose the currency you wish deposit and click the icon. Remember, in order to deposit fiat currency, you must get verified.

Account Whitelist

If your 30-day trading volume exceeds 10 BTC, then you are liable to receive some discounts. HitBTC was established way back in 2013, making it one of the few older exchanges within the crypto space. However, keep in mind that not all Altcoins are available, but most of the popular including Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Solana (SOL), Polkadot (DOT), and more. The Demo option is available at the bottom of the screen, or you can directly click here to enter the demo. Please note that users have to create a separate account for the demo platform.

HitBTC Review

Please note that your feedback may be crucial for the user when choosing a product, so try to avoid inaccuracies and unreasonable criticism. The system registers each new user who has entered the email address and password (min 6 characters, including a capital letter and number) on the official website of the exchange. On March 23, 2023, HitBTC listed HitBTC Review Arbitrum (ARB), a popular long-anticipated token of the Arbitrum blockchain. This blockchain is aimed at solving the protracted scalability problems of Ethereum. The ARB perpetuals gained strong traction on the DeFi platforms. The team anonymity and the lack of clearness about the headquarters location make some individuals distrust the platform.

Supported Currencies

Therefore, if you prefer the likes of live chat or telephone support, you’re out of luck. Now, while such accusations cannot be substantiated with any certainty, if the general consensus https://www.tokenexus.com/ is that HitBTC has suffered multiple hacking attempts, then it is likely to be true. Next, you will need to enter your email address, and then choose a very strong password.

The information that you will have to provide includes your personal information, residential address, proof of identity, selfie and phone number. Now, while HitBTC mobile app is available, it’s still in a development stage, meaning that the app is not stable and you might experience certain issues when using it. All traders will be happy to hear that HitBTC is developing a mobile app for iOS and Android devices that you can download on Google Play Store and Apple’s App Store. Trading is not as easy as it might seem in the first place. If you haven’t done that before, you could make trades that would bring you huge losses. To avoid that, it’s important to figure out how the platform works first.

Is HitBTC Safe?

We totally understand how frustrating it must be to not be able to withdraw your DOGE for such a long period of time. Sometimes technical maintenance requires additional effort and time. I am sorry to admit that in this case we need a while longer to complete the work on DOGE wallet. I’d also like to pay your attention to the fact, that while withdrawals are closed during the maintenance, trading functionality for your account was and is available at that moment.

We don’t know why HitBTC has started to suffer, and we don’t know what’s going on within the company itself. But it’s clear that the issue has moved beyond simple negligence and that the company is not an active part in the restriction of some users’ access to their own capital. This is a distressing development for a well-known, high-quality exchange, once known for its wide range of supported assets and ease of use. But this is one of the possible outcomes for a financial services industry that is not well-regulated, and which has so much money pouring through it at all times. There are simply too many reasons for dishonest exchange owners to funnel user funds into their own private wallets.

How to Sign Up on HitBTC

One caveat is that they are a bit shady in terms of their location. The community at large is still not sure of where they are actually located. Still, they require a lot of verification to start trading large amounts.

HitBTC Review

In addition, there have also been reports from several forums that question its reliability, with some users stating that they faced difficulties withdrawing tokens. HitBTC is also one of those exchanges that are open to bots, which are relatively few and provides various APIs that can aid tech-savvy users in being able to trade automatically. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Top Reviews

It now has a “Great” TrustPilot score and is doing much better than most other exchanges. Having said that, it seems that the company is suffering from long support response times and also withdrawal issues. HitBTC offers a wide variety of currency pairs if you’re looking to trade crypto for crypto. The exchange is also a magnet for many new (and sometimes shady) token offerings. However, the exchange’s shady reputation, and mediocre customer support mark it as unreliable.

  • Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use.
  • You could also do this on any other exchange that offers fiat trading options.
  • To register for an account on this exchange, head over to its official website and click the “Sign Up” button at the top.
  • Angry users are many, and HitBTC can’t be seen as an option for crypto users.
  • As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase….
  • No one can use HitBTC until they confirm that they have read the terms and conditions, which contains a list of documents that the company can request from the user.
  • More than that, layer 2 solutions allow nearly instant withdrawals, improved security and privacy, and cross-margining.

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