Posted by If you decrease the liquidity, you get charged a .1% commission. A full explanation of the fee structure is available on HitBTC’s website. One caveat is that they are a bit shady in terms of their location.
As you can see, HitBTC exchange is truly extensive and provides you with the ability to trade multiple cryptocurrencies, even less popular altcoins. Without further ado, let’s jump to HitBTC review and find out more about this cryptocurrency exchange. This slow customer support is also not ideal when it comes to verifying your KYC documents. Something that many exchanges offer is an affiliate program where you can refer other traders and earn a commission off of their trading. Once you choose to sign up to the affiliate program you will receive a custom link that will be used to track your referrals.
- They also have positive reviews for their high availability, uptime, and fault tolerance.
- HitBTC has an abbreviated Bitcoin (BTC) name in it and is a multi-currency digital exchange rather than a Bitcoin-based platform.
- Not only does the platform support more than 300 coins and over 800 trading pairs, but fees are highly competitive.
- OTC on HitBTC is curated by the exchange partner Trusted Volumes.
- In order to write in the chat, on the exchange you must have an amount equivalent to 0.01 BTC.
- This review will focus on highlighting everything there is to know on HitBTC, including but not limited to its trading fees, trading view, API, security, and more.
Once you are verified you will be able to complete the transaction and begin the transfer. On the top right-hand corner of the main screen, you’ll view several icons. Once there you’ll need to select the Security tab, then scroll down to two-factor authentication.
Table of Contents
HitBTC Fee 2024
HitBTC only charges a fee for deposits of Bitcoin, .0006 BTC per deposit. This is a flat transaction fee and doesn’t change based on the amount deposited. If you attempt to deposit less than this amount the deposit will fail.
Which countries does HitBTC support?
Large amount of token offerings with many trading pairs available; System Monitor allows users to view the total transactions across the platform. HitBTC allows you to fund your account using any cryptocurrency they support. This allows you to block withdrawal transfers from any wallet you haven’t pre-approved. Select Whitelist from the tabs at the top of your screen and choose Enable Whitelist. You can then add in as many different approved wallets as you like, for as many currencies as you wish to trade. Keep in mind though that you won’t be able to withdraw any funds for a 48-hour period after your activate or modify your whitelist.
So here’s what they do – this really isn’t a genius at work here. They make up some phony reason why they can’t allow you to withdrawal your funds and make you send in all these personal documents. You do everything they want, send in your drivers license, selfie holding some piece of paper, cell phone number, blood sample, proof of residency, all of it. Then shortly after you do all that, they want more and more, then they want some Skype teleconference call, its just nonsense.
Some of the most notable ones include BTC, BCH, LTC, ETH, ETC, EOS, DASH, XMR, ZEC, PAX USDT, and many others. Professional traders are encouraged to contact HitBTC in order to obtain more advantageous trading fees. This review will focus on highlighting everything there is to know on HitBTC, including but not limited to its trading fees, trading view, API, security, and more.
BTSE: Empowering Crypto Traders Worldwide
For example, Monero requires a payment ID when withdrawing, whereas Bitcoin and Ethereum only require the recipient’s wallet address. Customer support on HitBTC is accessible through multiple channels, including an online support form and direct email address. While there have been mixed reviews regarding response times, the exchange makes an effort to address queries and resolve issues, ensuring https://forex-review.net/ users have support when needed. HitBTC is a cryptocurrency exchange that has carved out a name for itself since its inception. Originating in Hong Kong, this platform has become a go-to destination for traders globally. Cryptocurrency is a highly volatile market sensitive to secondary activity, do your independent research, obtain your own advice, and only invest what you can afford to lose.
How to Save Yourself From Crypto Exchange Scams
Learn everything you need to know about Bitcoin in just 7 days. Personally, I would choose Binance since I value reputation more than anything, however it really depends on your needs. I gave a talk at a crypto conference about Bitcoin affiliate programs and told my story with HitBTC as an example of how not to behave. We talked and he promised that the issue would be taken care of. I haven’t actively used it for trading until the Bitcoin Cash and Bitcoin Gold forks came about. Whenever I claimed a new coin from one of these Bitcoin forks, I would immediately sell it on HitBTC.
Subscribe to the Early Bird List!
Bank accounts, names of banking institutions, account balance info, trade history, and similar information could be requested in rare cases when dealing with withdrawals of high amounts of money. 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. It means that no matter how much you want to withdraw the exchange will charge the same amount of money (specific for each currency). This amount gets adjusted automatically in accordance with the market prices in order to make the HitBTC users’ transactions fast.
A quick analysis showcases that while HitBTC provides great trading fees, it unfortunately charges some of the highest fees for withdrawals amongst competing cryptocurrency exchanges. “The world’s largest and most advanced cryptocurrency trading platform” —or so they say. Despite the well publicized hack, the company takes security seriously. This major platform offers everything that HitBTC has and beyond. Margin trading, margin funding, and a suite of order types all appeal to experienced traders. HitBTC is a global platform that bills itself as “the most advanced Bitcoin exchange”.
For those who have used the MT4 software will know just how advanced it is. There is a plethora of charting functionality, analysis https://forex-review.net/hitbtc-review/ tools as technical indicators. The MT4 platform is no doubt one for professional traders who do a great deal of technical analysis.
It set up this system to encourage liquidity and narrow the spread on cryptocurrency markets. HitBTC doesn’t currently support direct crypto purchases using money or fiat currencies but it does let you purchase Bitcoin through a partnership with Changelly. This allows you to use your credit or debit card to get an initial Bitcoin balance of .0006 BTC to use for trading. 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.