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HitBTC Review 2021 READ THIS Before Investing

HitBTC Review

If a trader liquidates a trading position to attain the liquidation price, HitBTC levies a liquidation fee of 0.5% of the position value in the quoted currency. HitBTC allows HitBTC users to trade crypto along with a vast selection of currency pairs. Additionally, HitBTC has developed a voting application and a demo trading platform for beginners offering them to try and trade cryptocurrencies on its Demo platform first. Moreover, HitBTC organizes various trading contests, allowing users to measure their skills against other traders and get more experience. Due the number of supported coins that HitBTC lists on its platform, the exchange is also useful if you are looking to engage in day trading.

  • In terms of regulation, Bitget has displayed more compliance, with it now sealing Lithuanian cryptocurrency registration.
  • However, the negative reviews about HitBTC mostly mention its poor customer support and slow withdrawals.
  • To use this feature, users must exchange over 100,000 USD per trade, and each trade will incur a 0.1% transaction fee.
  • To add to the confusion, the various stages shown in the graphic below (found on the HitBTC website) are not clickable.
  • “Makers” are not charged with a fee, and instead receive a 0.01% rebate from the trade.

CFDs work in a similar fashion to futures contracts that you have on platforms such as Bitmex and the like. They are also margin instruments which means you must tread with caution as you can very quickly get liquidated and margin called. The MT4 platform provided by HitBTC and Weltrade can be run on a range of different devices. The MT4 software can be run on your desktop, on an iOS device or on a Google Android. To withdraw funds, simply click on the icon in the withdraw row of any Coin you wish to withdraw. On HitBTC, “Takers” are charged with a 0.1% fee from the trade.

Fact-checking Standards

According to the exchange, the OTC service is opened for users looking to trade above $100,000 worth of cryptocurrency. Through the OTC layer of insulation provided by HitBTC, price fluctuations will have little to no impact on prices. HitBTC currently charges a 0.1% commission HitBTC Review on OTC trades. Those who are interested in the service, must apply via the exchange’s partner website, TrustedVolumes. After you know this, it’s easy to understand the user interface functionality. However, if you’re a newer user, you might think this is a bit strange.

HitBTC Review

Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Most people come here only to talk about their negative impressions. We really appreciate the positive feedback that dispels the common misconceptions about our platform. They really steel your money, they decided to introduce a 30usd charge every month if you don’t make an transaction within 6 Months. They never informed me about this change, I Was there since 2018. Once a user reacher at tier 8 with 50,000 BTC per month or more, this platform pays a rebate of -0.01% per trade to the users.

Margin trading

It is commendable that the service is designed simply and clearly, it is very convenient to track everything through your personal account. The data is stored fairly securely, as far as I can tell. Generally speaking, this service has enough positives to not only draw attention to it, but also start actively using it on an ongoing basis which I have been doing for many months now. If you are trying to withdraw it will be always offline.

First, you must pick the main currency from the chart’s header, followed by the trading pair. HitBTC provides a wide range of trading pairs for leveraged trading ranging from 3x to 12x. To deposit funds into your HitBTC account, you must first create a wallet address and click the green deposit button. You must choose the correct row and click “fund” to receive a wallet address with numbers and letters, along with a QR code. If it is, which once again cannot be proved, then it is very alarming if HitBTC decided not to make the hacks public knowledge. For us, there are just too many negative reviews about the platform, and thus, we cannot endorse HitBTC as a safe exchange to deposit money with.

Stay up to date with news and updates on Bitcoin, Ethereum, Litecoin and all the cryptocurrencies with us.

Whenever I claimed a new coin from one of these Bitcoin forks, I would immediately sell it on HitBTC. If you want to see how HitBTC works, you can take advantage of the Demo version that allows you to try the platform out completely free without actually investing anything. Hence, if you want to have a real trading experience without risking anything, you should definitely give it a try.

HitBTC Review

In this case, it’s better to trust your instincts and remember the golden rule – never trade money you can’t afford to lose. Select a currency from the chart’s list, and the page will instantly refresh and display information about the chosen trading pair. Although there is much not to like about the HitBTC platform, one its strongest attributes is its extremely low fee structure. Don’t invest in crypto assets unless you’re prepared to lose all the money you invest…. Don’t invest in crypto assets unless you’re prepared to lose all the money you invest. In order to diversify its product range, HitBTC also allows you to trade on margin.

Order Types Offered by 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. 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. 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. Consider an example where BTC has the current sell price of 10,000 USDT to illustrate the difference between makers and takers. If you place an order at that sell price, 10,000 USDT, you are a taker.

In other words, investors make a deal with their counterparty directly, and the market price of the token or coin does not become affected. HitBTC does offer OTC trading thanks to a partnership with Trusted Volumes. This is only applicable for trades with a volume of over 100,000 USDT (or its equivalent), and there is a commission of 0.1 percent. After selecting “Withdraw,” type your authentication code, assuming you enabled two-factor authentication for withdrawals. You will see a notification that you must confirm the withdrawal via email. Go to your email address and open the email from that is labeled “Withdraw request.” Click the link to confirm to send the transaction and return to your account page.

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