The most that we have seen on other exchanges is about 50%. You cannot withdraw or deposit ICO coins before the company issues the real tokens. Once they are issued, the IOU’s are converted to real tokens that can be withdrawn or deposited. Although it was explicitly stated in the tweet, it is likely that the “minimum buy-in” he is referring to is the exorbitant withdrawal fees which the exchange has become notorious for. Users may often encounter withdrawal fees that make it almost illogical to issue a withdrawal request, with this often occurring with ERC-20 tokens.
In this regard, HitBTC withdrawal fees are some of the highest amongst all cryptocurrency exchanges. Like we said earlier, HitBTC is far from the only cryptocurrency exchange to go south, often resulting in the loss of user funds. Wouldn’t crypto exchanges want to keep their service quality high in order to get more business? Well, it’s not as simple as that, and there are more than a couple of reasons why an exchange like HitBTC might start to suck.
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Overall, HitBTC is a secure exchange in terms of technology it uses to protect your funds. However, the exchange lacks transparency when it comes to its team and location, which is a major red flag for some. On the contrary, it has a proven track record, operating in the industry for more than six years already. 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. One of the more notable rumors surrounding the exchange includes the 2015 hack of BTER and Excoin exchanges.
The once-responsive customer service is giving people the run-around, or ignoring questions and comments entirely. Deposited funds are failing to appear in user HitBTC wallets.
In this in-depth HitBTC review we will dig into the exchange fees, services, customer support, trading, and much more. It is one of the fastest and most comprehensive trading platforms on the market.
In this post I will review the company, its services and share some of my personal experience with them. It does offer one of the broadest cryptocurrency markets selection in the entire industry, and its trading fees are the lowest, too.
Metatrader 4 Platform
There’s a fast engine, low commission fees, 150 instruments, and a highly detailed interface for pro traders. Two-step authentication, advanced encryption, and a relatively clean track record are all pros for HitBTC. The WIZ token has been listed both on HitBTC and IDEX.market and is available for trading. In May 2020, the platform signed a partnership agreement with TradingView, a social network for traders specializing in charting software.
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— Ozan (@OzanSantoso898) November 28, 2021
Most common problems people have complained about are withdrawal delays and inexplicable loss of funds. Even before a company that does an ICO releases their tokens on exchanges, HitBTC allows users to buy the IOU’s of ICO coins and store them in their HitBTC account. HitBTC uses cold storage to secure the majority of its funds, and relies on advanced encryption technology to prevent important information from being hacked. Email notifications are also sent when your account is accessed from a different IP address.
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Being extremely secure and stable, TORG’s smart contract is audited by the best in the industry blockchain security and infrastructure leader Certik. TORG started trading from 20th July 2021 on world’s leading Global hitbtc review Exchanges, namely Uniswap, Pancakeswap, Bithumb Global, BitMart, AAX, ProBit, CoinsBit India, WhiteBit, HotBit.io, etc. It is expanding its reach rapidly and is expected to be available on many trading platforms.
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.
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HitBTC remains one of a few exchanges that hasn’t been hacked before. CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. I enjoy researching new, innovative, and interesting blockchain/crypto projects that have the potential to impact the world.
- The platform replicated the features of world-renowned exchanges such as NASDAQ, NYSE, and LSE.
- Though the company doesn’t enter the top 10 any longer, it still manages to maintain a high position despite the severe competition in the industry.
- TORG is the world’s first sustainability driven, completely decentralized, and utility-focused cryptocurrency, aimed at global human development.
- On the contrary, makers actually receive a 0.01% rebate for each trade.
- They are certainly one of the most established with over $6million in venture funding and a $300million trading volume.
- Thanks to their API’s, HitBTC is known for being able to be friendly enough to people who are into creating trade bots.
There is a plethora of charting functionality, analysis tools as technical indicators. The MT4 platform is no doubt one for professional traders who do a great deal of technical analysis. HitBTC’s provides access to over 300 crypto currencies, including Bitcoin, Ethereum, Lite coin, Doge coin, Monero, and USDT.
Compared to most cryptocurrency exchanges, trading fees on HitBTC are competitive. On the contrary, makers actually receive a 0.01% rebate for each trade. High Fees – HitBTC withdrawal fees are inconsistent and higher than the industry standard. The flat and dynamic fee structure is confusing and has led many users to question HitBTC’s transparency and ethics.
Nevertheless, it also has numerous concerns surrounding it, which we address further in this HitBTC review. HitBTC offers a demo account for new cryptocurrency traders.
Yet despite its appeal as a secure technology, HitBTC remains an unregulated exchange at the forefront of the crypto wild west, which raises questions and adds risks to its reliability. Once you sign up, you’ll see that HitBTC forces you to active 2FA measures on your account. Until you do so, some features of the exchange will be locked, which is good for your security. As such, it has never been hacked before, or at least haven’t disclosed any such incidents. Some sources claim that HitBTC was hacked in early 2015 together with BTER and Excoin exchanges, though the information hasn’t been confirmed.
HitBTC is a cryptocurrency exchange that was founded in 2013 and officially launched in February 2014. A HitBTC exchange review shows that during the early days, they offered trading in only a few currency pairs. Today the picture looks much different with them offering trading in over 300 currency pairs across 775 active markets. This exchange has been putting tokens under maintenance for months at a time. If you are going to support a token then make sure to keep up on maintenance.
- Otherwise, trading services may not be able to execute trades for your portfolio.
- Busha, a Nigerian cryptocurrency exchange, is reported to have raised a $4.2 million seed funding round recently.
- With this feature, you can add any deposit addresses that you trust.
- For example, the API has low latency which means that your trading orders are executed much faster than other exchange APIs.
- According to McAfee, the McAfee Alliance works hard to fight against corruption in the crypto space.
Author: Steve Goldstein