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HitBTC Review: Is it legit, safe and trustworthy for UAE citizens and residents?

The HitBTC cryptocurrency exchange started operating in 2013, and it gives customers the ability to trade crypto along with a wide variety of cryptocurrency pairs. HitBTC is able to accommodate several currencies, and it has several million users that are actively trading on its site at any given time. The user interface for the HitBTC digital currency exchange is offered in the following languages: English, Korean, Chinese, Portuguese, and Spanish. This exchange came into being to provide assistance to people who are interested in trading cryptocurrency. HitBTC has also released a prototype trading platform in addition to an application that can be used for voting on alternative cryptocurrencies. On the basis of this information, the users may choose the cryptocurrencies that they want to trade using the site. Visit HitBTC Website.

HitBTC is a European Bitcoin exchange that launched its business in 2013 after receiving 6 million euros in venture money from investors in Hong Kong. This platform makes its services available to users located anywhere in the world without imposing any limits. According to the HitBTC review, HitBTC provides its services to the majority of the European and Estonian markets. Additionally, this exchange is simple to reach for consumers who are located in Europe but hail from other areas of the world.

Although the name HitBTC contains an abbreviation of Bitcoin (BTC), it is not a Bitcoin-based platform but rather a digital exchange that supports several currencies. HitBTC allows a wide variety of trading pairs, each of which contains several cryptocurrencies. These cryptocurrencies include some of the most widely held crypto-assets. The members of the HitBTC team have created this platform with a variety of users in mind from the very beginning. During the era in which it was designed, the primary focus was placed primarily on making the user interface as uncomplicated and straightforward as possible. HitBTC provides its users with a variety of account options, allowing them to select one that is most suited to their individual trading preferences. This is one of the most essential aspects supplied by HitBTC.

HitBTC is a prominent cryptocurrency exchange that gives its consumers the opportunity to engage in bitcoin trading. This exchange is favoured by millions of traders as a result of the many features and tools that are available on its underlying platform. The following is a list of the actions that you need to do to utilize HitBTC:

The user must first register on the HitBTC platform before they can begin utilizing the service. They are required to submit their complete name, email address, and a secure password before agreeing to the terms and conditions of the website. After the user clicks the verification link in the email that is sent to their inbox for verification, their account will be enabled.

The following step is to make a deposit into the trading account using one of the many various payment methods that HitBTC makes available to its customers. By scanning the QR code that is provided by the platform, the user is able to add whichever cryptocurrencies they would want, including Bitcoin, Ethereum, USDT, and so on.

The first page of the HitBTC website includes a variety of fundamental pieces of data as well as trading charts that are accompanied by the various trading volumes for cryptocurrencies. In addition to the trading volume over the past twenty-four hours, it also includes information such as the exchange rate, shifts in the most recent market price, an offer to purchase or sell, and numerous other pieces of data.

The following is a list of some of the most essential aspects of the HitBTC exchange:

According to our analysis of HitBTC, traders have access to more than 800 different cryptocurrency pairings, allowing them to purchase and sell a variety of cryptocurrencies. This exchange provides users with access to a diverse selection of cryptocurrencies that can be used for trading, and it is also one of the most prominent exchanges in terms of the number of new projects that it enlists.

Imagine for a moment that the user is interested in trading Bitcoin or other cryptocurrencies. In this scenario, users have the option of utilizing the crypto-to-crypto exchange that is provided by HitBTC, where they may acquire cryptocurrencies or deposit Bitcoins along with other currencies that are supported. The HitBTC exchange does not make any requests for verification as part of its Know Your Customer (KYC) procedure.

HitBTC is one of the few cryptocurrency exchanges that has never been compromised by hackers, hence it is regarded as a secure platform to trade on.

The maker charge on this platform is only 0.1 percent, and the taker cost is only 0.25 percent, according to a number of reviews that were conducted on it.

HitBTC provides a user-friendly and powerful application programming interface (API), and traders are free to employ any trading bots that are compatible with the platform API.

In addition to that, it provides novice traders with the option of using a demo account. Using this trial account, new traders do not need to make any deposits in order to test out this trading platform.

A few of the services that HitBTC provides are as follows:

The ease and cutting-edge features that are made available to consumers by the HitBTC exchange are among its most significant selling points. These features include charts, news, the most recent exchange rate, descriptions, and transaction histories of a variety of assets, among other things.

This exchange not only enables profitable buying, selling, or exchanging of various types of digital assets but also updates the general market situation around the world by providing regular updates and monitoring the current movement of the market. In other words, it keeps track of the overall market situation.

According to CoinMarketCap, HitBTC has established itself as one of the most prominent worldwide cryptocurrency exchanges in terms of market liquidity. One of its advantages is that it provides advanced traders with access to an API that, when combined with bots, enables them to trade cryptocurrencies automatically.

Users may take use of the HitBTC mobile app, which is downloadable for use on mobile devices running either iOS or Android. In addition, traders may trade wherever they are by using this mobile app, which is available on both the Google Play Store and the Apple App Store.

The HitBTC exchange provides its users with access to an affiliate program that enables them to profit from referrals. This platform provides its affiliates with a number of benefits, which in turn results in a healthy passive income for those affiliates.

HitBTC's Positives and Negatives:

When compared to the fees charged by other exchanges, HitBTC's are rather inexpensive.

 This platform does not work with customers based in the United States.

The user interface is intuitive and easy to navigate.

 HitBTC is not recommended for those just starting out.

There are no maximum caps placed on the amounts that may be deposited or withdrawn.

 Mediocre customer support.

In comparison to other exchanges, it offers a comprehensive selection of cryptographic currencies.

hitBTC is not a licensed exchange and should not be used.

Users are not required to go through the KYC procedure.

HitBTC provides the greatest possible degree of security by utilizing two-factor authentication (2FA) and cutting-edge encryption technologies.

High exchange liquidity is available through the HitBTC platform.

The process of creating an account with HitBTC is described as being straightforward and uncomplicated in a number of evaluations of the service; the following are the procedures required to create an account on this platform.

It is necessary for the user to go to the HitBTC homepage and click the sign-up button that can be located in the upper right-hand corner of the website. The following step would be to input the email address and select a powerful password, respectively. The user will be prompted to supply information like their complete name, country in which they currently reside, and telephone number. The verification link will be provided to their email addresses, so they will need to confirm those before continuing. When the user clicks on the verification link, a new tab will come up, and they will need to input the code that was sent to them in the mail.

After the user has successfully created an account, they should follow with the HitBTC login process and then deposit money. They are required to go through a verification procedure, which will take some time, if they are going to deposit money by utilizing a bank transfer. The user does not need to validate their identification in order to make a deposit using cryptocurrency, and it does not take more than 20 minutes for the funds to appear in their account once the deposit has been made.

After the user's money have been successfully loaded to their account, they will then be able to proceed with making a deal. The user will be transported to the trading section when they click the exchange button. They may acquire coins by going to the trading screen, entering the cryptocurrency that they want to purchase, and then clicking on the trading pair that they like.

When the user is ready to trade, which is when they are on the trading screen and have the requisite cash, they may do so. HitBTC is a cryptocurrency exchange that boasts a high trading volume, and all of its transactions are completed in a matter of seconds.

The accounts that have not been confirmed are given the status of beginner, whereas validated accounts are given the status of enhanced. This exchange offers many levels of verification. If it is necessary to verify the user account, the user must provide the papers, which may include the following:

Home address, including both the city and the zip code, as well as the country of home
Details such as the entire name, date of birth, and nationality are required.
Documentation attesting to your identity, such as a driver's license, a copy of your identification, or a passport; your phone number;
a picture of yourself smiling for the camera while holding up identification that includes the current date and the words "For HitBTC KYC."

HitBTC does not mandate that users have a verified status in order to obtain an upgraded account. This procedure is required, and it provides a number of benefits, including the ability to recover access to a user account in the event that the user has forgotten their password, two-factor authentication, and reduced prices.

The HitBTC trading platform allows users to trade without first validating their accounts, which is one of the most useful advantages the site has to offer. There is no requirement for them to provide any personal information in order to participate in transactions with digital currency. Only if they are interested in trading or using fiat money is verification required of them.

When a user wishes to deposit or withdraw money, they are required to supply certain pieces of personal information, such as their name, address, country of residence, bank account, date of birth, and scanned copies of any applicable papers.

According to our HitBTC review, the HitBTC platform has a straightforward cost structure for users who wish to engage in cryptocurrency trading. Nonetheless, there is no price associated with making a deposit while using cryptocurrencies; however, there is a fee associated with placing orders or withdrawing more funds from the site. Because the platform's flat costs are comparable to those levied by other platforms, it is clear that high-frequency traders can benefit from using this particular platform.

According to our assessment of HitBTC, the trading costs of HitBTC are the lowest when compared with any other top Bitcoin exchange. Verified customers are required to pay 0.1 percent as a maker charge and 0.2 percent as a taker fee while using the HitBTC platform. While unverified users are subject to HitBTC's standard trading costs, verified users are subject to HitBTC's tiered trading fee structure, which bases greater trading fees on the total number of trades executed in the preceding 30 days.

Withdrawals and deposits of cryptocurrencies do not incur any costs; however, HitBTC does charge flat withdrawal fees, and there may be hefty fees for some new cryptocurrencies that are listed on the website. There are no fees levied for cryptocurrencies. If you need additional information on the details of the fees, go here.

HitBTC provides their market makers with a rebate scheme, and in exchange for providing the exchange with strong liquidity, market makers are eligible for a reimbursement of 0.01% of their trading volume. When a customer reaches tier 8, which occurs when they trade 50,000 Bitcoin or more in a given month, HitBTC will begin giving that user a refund of -0.01% of the total value of every successful deal. HitBTC levies a liquidation fee equal to 0.5 percent of the position's value in the currency being quoted if the trader closes out a trading position because it has reached the price at which the transaction can be closed out.

The HitBTC API is friendly to robots, therefore traders are able to make use of trading bots. The HitBTC API features data and execution streams with a low latency. The users who are involved in the creation of trading bots will find this platform to be user-friendly. HitBTC's application programming interface (API) is friendly to robots and employs low-latency data for the bitcoin market. On the website, users may discover further information on the API as well as documentation for the API.

Before a user may contribute funds to their HitBTC account, they must first establish a wallet address using the HitBTC desktop or mobile app. After that, they need to click the button labeled "deposit" that is marked in green. The user must first choose the row that corresponds to the amount that they desire to deposit, and then click the "fund" button. After the user has completed this step, they will be provided with a wallet address consisting of letters, numbers, and a QR code.

To withdraw coins, the user must first select the "accounts tab" and then select the "withdrawal column," which presents a list of all available cryptocurrencies and fiat currencies to choose from. The user must have coins in their main account before they can click the withdraw button, and they must have coins in their main account. HitBTC's withdrawal limit has no limitations of any kind attached to it.

Immediately after opening a beginner account, a trader is able to begin trading; however, they must bear in mind that this type of account is only suitable for bitcoin deposits and withdrawals. Withdrawals of up to 5 Bitcoin per month and 1 Bitcoin per day are permitted, however only the former are subject to verification requirements.

The first thing you should do, as mentioned in our evaluation of the HitBTC exchange, is choose a trading pair. In order to accomplish this, the user must first pick the primary currency, which can be found in the header of the chart, and then select the trading pair they wish to employ.

HitBTC allows users to trade on their platform with leverage using a wide variety of different trading pairs. In addition, the leverage ranges from three times to twelve times.

Users should select a currency from the list that they wish to trade in the chart when they get to that point. The website instantly refreshes and displays the information about the chosen trading pair as soon as the user selects the currency.

A list of the several sorts of orders that may be placed using the platform:

Market orders
Limit orders
Ranks based on a scale

To begin trading with HitBTC, the user must first add funds to their account; to view the current amount of their funds, they may navigate to the part of their account that displays this information. They need to move their money from their main account to their trading account as soon as possible. After they have moved funds into the trading wallet, they will be able to continue with the trading process. Proceed to the section on the exchange, which is the next stage in the process. In this area, you will find information on the most recent pairings that are accessible, your choice of trading pair, the rate chart of your selected trading pair, etc. The user may view all of the open orders that are currently being processed on the page, and they also have access to a user chat that is located on the same screen.

HitBTC provides access to more than 800 different trading pairs. On the site, the user has the ability to trade Bitcoin as well as other cryptocurrencies. In addition to Bitcoin, they are able to trade with other important cryptocurrencies such as Ethereum, Stellar, and Ripple, among others. In addition, the user has the opportunity to access alternative cryptocurrencies, which may emerge in the foreseeable future. If the user want to engage in trading with HitBTC, they will have the option of selecting currency pairs that range from crypto to fiat to crypto to crypto. This exchange provides access to a wide range of digital currencies, some of the most well-known and influential cryptocurrencies on the market today including Bitcoin, Ethereum, Ripple, Litecoin, Monero, and others.

HitBTC is accessible in nearly every country on the planet, with the exception of Syria, Sudan, Cuba, Crimea, the United States of America, and North Korea. This platform has a large worldwide reach, allowing traders to use it from their own countries regardless of where they are physically located. The aforementioned nations are unable to participate in this exchange as a result of the regulatory constraints or financial limitations that are in place.

The HitBTC customer service team is available around the clock and constantly monitors the status page for the system. They have an online support form that users may use to get in touch with them. In addition to this, it provides the users with the following contact choices and channels via which they may communicate with the company:

Form for online help available
The ability of live chat

To summarize, HitBTC is one of the most advanced and well-protected cryptocurrency exchanges available today, and it provides users with a variety of useful services. Some of these advantages include more competitive trading costs, stringent safety precautions, and a variety of features and tools tailored specifically for seasoned investors. Additionally, the data compiled by CoinMarketCap indicates that it is one of the most significant and prominent exchanges. When it comes to daily trading volumes, choose the proper sort of cryptocurrency exchange is essential, and HitBTC is a good option because it lists many hundreds of crypto currencies and has fees that are incredibly competitive. In addition, even a novice trader should have no trouble using this platform because it provides users with a simulated money account in which they can practice trading, in-depth guidelines, and prompt access to customer service in the event that users have any questions.

HitBTC is a platform that is believed to be legitimate and safe since it has incorporated a large number of security safeguards to protect its consumers. In addition, there is no evidence to suggest that this platform has ever been compromised, which is another evidence of its high level of security. It guarantees that two different forms of authentication are used by traders and provides a number of safeguards to keep the data secure. When a new HitBTC account is established, the user is required to choose a password for the account. This is done for security reasons.

HitBTC is one of the very few cryptocurrency exchanges that has not been compromised up until this point.

If a user wishes to withdraw funds, they must first navigate to the account area, choose the appropriate cryptocurrency, and then click the withdraw option. They are required to enter the amount that they would want to withdraw, and after they do so, it immediately displays the amount that they will get after the commission has been deducted.

HitBTC does not need the Know Your Customer (KYC) protocol from every trader; nonetheless, prior to utilizing their platform, HitBTC requires traders to read their terms and conditions.

One of the most well-known cryptocurrency exchanges, HitBTC is frequently used as an alternative to trading sites that US investors are unable to access. Residents of the United States, as well as residents of other jurisdictions within the United States, are prohibited from using the service because of the conditions of its official terms of use.

Trading cryptocurrency is a complicated product that carries a large potential downside in the form of a sudden loss of capital owing to the use of leverage. You should do some research, think about whether you understand how an investment works and whether or not you can afford to incur the high risk of losing your money, and then decide whether or not to make the investment.

The HitBTC cryptocurrency exchange is a platform that was launched in 2013 and provides users with the ability to trade more than 300 different cryptocurrency pairings. The platform was initially introduced in 2013, and it subsequently got investments that totaled to around 6 million dollars.

The HitBTC exchange was originally introduced to the public in February 2014, and it began supporting the following currency pairings at that time: BTC/USD, BTC/EUR, BTC/LTC, and USD/EUR. In the same year, in April, developers introduced a demo trade, and a short while later - an application for voting based on cryptocurrencies. Both were launched by the same company. Users now have the ability to select which cryptocurrencies should be included in the exchange thanks to this feature.

The capability to swap US Dollars and Euros became available in the fall of 2016, when a new service was introduced. However, the trade of fiat currencies for cryptocurrencies was eventually stopped. At this time, customers of HitBTC have the ability to purchase cryptocurrency using fiat currency. HitBTC was first developed with the premise that users would have varying levels and degrees of training. As a result, while it was being designed, the emphasis was placed on making the interface as simple and user-friendly as possible for the majority of individuals.

HitBTC is now ranked among the top 50 best exchanges and holds a position in the list of trading floors that have the highest average daily trading volume. Over three billion dollars' worth of goods and services were traded on the market in only twenty-four hours' time. Orders denominated in BTC nearly reached one billion. Cardano (ADA), which has a market cap of $330 million, Ethereum (ETH), which has a market cap of over $200 million, XRP, and Litecoin are the other highly liquid currencies on HitBTC. The cryptocurrency exchange now supports 422 different currencies and provides 947 different trade pairings as of February 2021.

HitBTC is a company that offers its services on a global scale without any restrictions. However, despite the fact that the firm focuses the majority of its attention on the Estonian and European markets, the HitBTC exchange is extremely accessible to users from a wide variety of nations all over the world.

The designers of the website took into consideration the fact that their customers can trade at any time of the day or night, and as a result, they created two distinct layout options: day and night.

It is important to take note that the interface for the exchange may be accessed in five different languages, including English, Chinese, Korean, Spanish, and Portuguese.

There is some uncertainty over the precise location of the HitBTC headquarters. The exchange maintains relationships with a number of different nations. According to the website of the exchange, for example, the business Hit Tech Solutions Development Ltd., which is in charge of the Privacy Policy questions, is registered in the Seychelles. In the event that there were any questions regarding HitBTC's legal standing, they were answered in Seychelles. In the section titled "About Us," neither the team members nor the physical location of the headquarters are mentioned. It has been brought to our attention that the location of the data center is in London, but the location of the representative office is in Chile.

If we look at the evaluations of HitBTC, we will find out that, for some reason, a number of different nations are mentioned as being the site of the exchange. These nations may or may not actually exist. Hong Kong is typically considered to be one of the nations linked with HitBTC. Another explanation for the location of the company's headquarters is that it may be found in the United Kingdom. There is evidence that the exchange has offices in London, Hong Kong, Beijing, Singapore, Malta, Rio de Janeiro, and Santiago, although it is not stated anywhere on the HitBTC website.

Some people have a negative impression of the platform due to the anonymity of the staff as well as the lack of information on the location of the headquarters. On the other hand, it is stated unequivocally on the website that Hit Tech Solutions Development is situated in the Seychelles and that the exchange has a representative office in Chile. As to the year 2021, the remaining information is without foundation.

You are free to use HitBTC anywhere in the world, with the exception of the United States of America, Syria, Sudan, Cuba, Crimea, and North Korea.

HitBTC was forced to end its operations in the United States in 2019. At that time, the exchange was operating in a legal limbo, and it did not comply with a number of stringent restrictions established by US law pertaining to cryptocurrencies. Therefore, beginning in 2019, individuals who are citizens of any of the states that make up the United States of America will not be permitted to engage in trading on HitBTC.

The availability of cutting-edge and user-friendly facilities for conducting business, such as up-to-date exchange rates, charts, news, descriptions, transaction histories, and so on, is universally regarded as the most significant benefit of the exchange.

In point of fact, HitBTC makes it possible to not only sell, acquire, and trade a variety of digital currencies while making a profit, but also to be informed of the overall market situation in the country as well as in the globe, to possess up-to-date information, and to watch the dynamics of these markets.

The application programming interface (API), which enables bots to trade cryptocurrencies automatically, is another significant benefit for sophisticated traders.

When it comes to liquidity, HitBTC is now in first place on the international cryptocurrency market (according to CoinMarketCap).

HitBTC is a platform with a high level of liquidity that offers quick order processing, lowers the costs of transactions, and more. As a result, the platform has very cheap transaction costs because of the considerable liquidity it offers. There are also such currencies available on the HitBTC market, which are not available on the other leading sites. Because of this, the platform has a distinct advantage, and traders may access more liquidity.

It is important to point out that HitBTC gives its consumers access to two different versions of its mobile software, one for Android and one for iOS. You may discover here further information on how to download the app, register a new account, and do other similar actions.

The following is a summary of some of the many benefits and wonderful services that the HitBTC exchange is able to provide its users:

A diverse selection of cryptographic assets
There are no limits on the ability to deposit or withdraw digital assets.
Superior technologies for engine synchronization
There is a diverse selection of tools accessible (over 500)
The most cutting-edge API currently available on the market (REST and FIX APIs)
An interface that is both simple and comprehensive.
There is the opportunity to engage in collaborative business with other users, which expands the scope of potential profits for everyone involved.
Trading on margin and over-the-counter are both options.
The exchange of fiat currency for cryptocurrency is possible.

But nothing is perfect, and there are several aspects that might be enhanced, including the following:
There are no pairings between fiat currency and cryptocurrency.
The rounding of the minimum bid is something that happens, which might be annoying.

The following is a list of recent enhancements that have been made to HitBTC:

Users of HitBTC now have the ability to buy cryptocurrency using fiat currency by using bank transfers and debit or credit cards. MoonPay and Banxa, which are both exchange partners, are responsible for the smooth operation of the payments.

HitBTC introduced its margin trading functionality during the summer of the year 2020. Since the day it first opened its doors, the exchange has been steadily expanding the number of currency pairings that may be traded using leverage.

The iOS app was made available to users sometime around the summer of 2020.

In the year 2020, the collaboration with TradingView was officially launched. It improved the accuracy of the data that was presented on HitBTC and made it possible to take advantage of greater prospects using API. On top of that, customers of TradingView now have the ability to control their transactions by using HitBTC.

There has been the introduction of a native utility token known as HIT.

Perpetual Futures Trading was made available for trading on the market for the first time on September 20, 2021. Because perpetual futures do not have an end date, opened positions can be active for as long or as little time as is required. For some assets, traders are permitted to apply leverage of up to 75 times. Perpetual futures are less hazardous Hedging the market may be done with very modest sums of money by traders. In addition to this, the futures contracts utilize their own individual margins. Traders are granted the ability to switch the asset that is being used as collateral for open trades. The following cryptocurrencies are supported: Bitcoin, Ethereum, Tron, Bitcoin Cash, ADA, DOT, SOL, EOS, AAVE, MATIC, XLM, UNI, LTC, and HIT.

HitBTC expanded its portfolio by adding two trading pairs based on the DYDX exchange on September 10, 2021. The DYDX cryptocurrency may be traded on HitBTC against BTC and USDT. The decentralized derivatives exchange known as dYdX has its own native coin, and it is called DYDX. On September 8, the token was released into the market, and its value immediately increased by more than one thousand percent. After being listed on a number of exchanges, the price of the token increased to $10 and even reached $15 at one point, which caused it to garner widespread media attention. An airdrop resulted in the distribution of a significant number of these tokens to the early adopters of the dYdX platform.

This airdrop was an important step in the process that transformed dYdX into a fully decentralized exchange that is run by its community. The expenses of using dYdx will decrease as it matures into a full-fledged Ethereum layer-two service. dYdX, in contrast to a great number of other prominent decentralized exchanges, possesses both an order book and a conventional cryptocurrency trading interface. The Starkware layer 2 network that serves as the foundation for the dYdX architecture makes this accomplishment conceivable. For example, while putting funds into their dYdX accounts, customers are not required to pay any miner fees. Moreover, layer 2 solutions provide practically immediate withdrawals, enhanced security and anonymity, as well as cross-margining capabilities. The blockchain will confirm transactions many hours after they have been executed.

Token holders have the ability to take part in voting over the modification of the dYdX protocol. If you are interested in having a stakeholding of DYDX tokens, you can easily purchase them on HitBTC if you choose to do so. When this chapter was being written, the DYDX coin had a market cap that placed it 222nd out of all cryptocurrencies. Despite this, HitBTC is keeping an eye out for interesting new initiatives that aren't well known about. DYDX is an excellent illustration of why it is crucial to have the option to trade new assets that have not yet reached the peak of the market. It is important to keep in mind that DYDX may be considered a profitable investment not only due to the speculative potential it possesses but also due to the robust technology that is linked with the token and the dYdX exchange.

An ERC20 utility token with the name HIT was introduced by the exchange in June of 2021. On the HitBTC market, the owners of this token are entitled to certain privileges. The perks include reduced margin interest rates, bigger margin limits, the chance to participate in decision-making on HitBTC, higher affiliate program rewards, and a variety of other advantages. Trading cost savings are also included. Trading HIT token also provides other benefits, such as the elimination of trading costs or a reduction in those fees for individuals who trade HIT-based pair currencies (depending on the period of time of trading). As of the 18th of June, 2021, the price of HIT is slightly more than 0.2 USDT.

The following items may be seen on the list of security precautions that HitBTC offers its users:

Whitelist of addresses (funds cannot be withdrawn to any address that is not on the list).
Authentication using 2 different factors (via the authentication app or the Yubikey physical token)
Tracking active sessions with a monitor (with the opportunity to terminate all sessions instantly; the current session of the user requesting sessions termination remains active)
Automatic logout of users (an automatic logout happens after a period of inactivity specified by the user)
Notifications sent through email (every time when someone logs in using a new IP address the account owner gets a notification about that on the email attached to the account)
KYC/AML regulations compliance (withdrawals of large amounts of money are impossible without the identification of the person involved)

There is no information provided concerning the methods by which HitBTC ensures the safety of its users' funds and data on the exchange's end. Despite this, there are no instances of hacking that are known to be related with the platform.

HitBTC was unable to avoid the provision of an OTC trading function because the exchange is working hard to fulfill all of the requirements that its clients could have. OTC trading, also known as over-the-counter trading, is a type of trading that takes place outside of the context of a public order book. OTC trades do not have any effect on the monitored market and are not directly impacted by the prices found there.

Because of the potential for market changes to significantly reduce gains in a very short amount of time, this option may be of particular use to high-volume traders. Over-the-counter (OTC) trading creates an atmosphere in which prices remain steady and are unaffected by trends. No matter what the prices are now on the market, the counterparts come to an agreement on the price that they will charge each other. The exchange is not acting as a mediator in this transaction other than collecting fees.

The participation of low volume traders in the over-the-counter (OTC) trading is being expressly restricted by HitBTC. The minimum trade volume that is permitted on the over-the-counter (OTC) desk should be comparable to 100,000 USDT. The fees associated with OTC trading are significantly greater than the fees typically associated with trading on HitBTC. A fee of 0.1 percent is assessed on each over-the-counter trade. HitBTC's Over-the-Counter (OTC) desk is brought to you in conjunction with

HitBTC does not impose a deposit fee. Users are not charged any fees while adding bitcoins to their accounts. On HitBTC, there is no way to deposit fiat currency; nevertheless, customers who have created accounts are able to buy cryptocurrencies on the platform. In this instance, MoonPay and Banxa, which are both payment providers, are the ones who decide what the costs would be.

Account holders at HitBTC are subject to fees whenever they make a withdrawal from their balances. HitBTC does not charge any variable fees for withdrawals. This is a very common practice among the most liquid exchanges on the market. This implies that you will be charged the same amount of money for each withdrawal, notwithstanding the total amount of money you take out. You will be charged the same cost whether you withdraw 2 BTC or 20 BTC from your wallet. Therefore, the more money you take out, the more you will have saved. HitBTC charges a fee of 0.00085 Bitcoin for each Bitcoin withdrawal. It is generally agreed that this sum represents a withdrawal cost that is close to the market average. It is important to note that the dollar value equivalent of the fees for the various currencies are not the same.

The initial trading costs for all registered traders on HitBTC are 0.09 percent. In order to reduce these fees to 0.08 percent or even 0.07 percent, a trader has to have a monthly volume of at least 10 bitcoins worth of transactions. That is without a doubt one of the most democratic trading fee systems in the business, particularly when compared to the practices of the major companies.

Regarding the structure of its trading costs, HitBTC maintains a "maker-taker" paradigm. When traders submit limit orders, new positions are added to the order book maintained by the exchange. They contribute to (or "create") the liquidity. Because the exchange profits from these kinds of operations, it offers trading fee reductions to traders in the hope of encouraging them to make limit orders. Those that employ market orders are considered "takers," and they are paid more than "makers" ("take" the orders off the order book decreasing the exchange liquidity). The Maker-Taker model results in the payment of lower fees by the makers. This strategy is unique to HitBTC since market makers who trade in significant quantities are not only completely immune from paying fees, but they are also rewarded. Traders who complete more than 50,000 BTC worth of transactions in a given month are rewarded with a 0.01 percent bonus.

However, those who embrace the offer might anticipate fee reductions. It all depends on the personal monthly trading volume, however as the volumes are greater, customers get to enjoy the benefits of lower costs. Takers who trade at a level of 1000 BTC or more are subject to a charge that is only 0.05 percent. Takers are required to pay a trading charge of a minimum of 0.02 percent. Check out the most recent trading fee tier right here!

According to the list maintained by Coinmarketcap, this exchange is consistently positioned within the top five when it comes to the amount of liquidity that it offers. According to the most recent information that was added to this analysis, Coinmarketcap has a liquidity of $100 million, which puts it in second position on the list.

HitBTC is well-known for the fact that, as a result of the application programming interface (API), the exchange may be extremely user-friendly for those who are engaged in the process of developing trading bots. Make the most of your trading bot with the help of the "Robot-friendly API," which enables you to make use of the leading API and low-latency data for the whole cryptocurrency market. There is further information available on the API and in the API Documentation.

There is nothing unnecessary or distracting on the homepage; it just contains essential information. The majority of the space on this page is taken up by a chart that compares the trading volume of the most popular cryptocurrency pairings. The chart includes the following information in addition to the trading volume: the most recent price, changes to the exchange rate, trading volume over the last twenty-four hours, and an offer to purchase or sell.

Forms for registering are located on the right side of the page, along with a button that allows you to access your personal account, if you have already registered.

The HitBTC signup process just only a few mouse clicks to complete. Each new user who visits the official website of the exchange and enters their email address and password (which must be a minimum of six characters and include both a capital letter and a number) is automatically registered by the system.

You have the option of doing this either in the current window that you are seeing on the homepage of the site or by clicking the "Register" button (in the upper right corner). In the second scenario, the registration form will appear on a new page when it is clicked.

To conclude the registration process, after providing your Email address and Password, you will be prompted to supply the nation in which you now reside, your full name, and your phone number.

Following this step, an email with a request to confirm the account will be sent to the email address that was previously given.

HitBTC enables users to trade without the need to verify their accounts, which is one of the features of this exchange. You are not need to leave any of your personal information in the system in order to conduct transactions only using digital money. Verification is only required if you intend to use the platform in conjunction with traditional monetary systems, such as dollars or euros. If you wish to add funds to your account or withdraw money from it, you will need to provide the following information: your name, the nation in which you reside, and your address; your date of birth; information about your bank account; and scans of any applicable documents.

On HitBTC, a user's account may be verified at one of three distinct levels: Starter, Trader, or Pro. Each of these levels gives the user a unique set of options. After the verification process is complete, you will be able to withdraw an amount equal to 100 BTC each day and an infinite amount on a monthly basis. You are required to complete the PRO verification level in order to have access to greater limits if you are a professional trader or an institution.

You will be required to enter your personal information at the beginning of the process, including your name, surname, date of birth, and country of birth.

Take note that the information must be filled out correctly and in English, just how it says on the identity certificate.

The second step is to fill out a form with your residential address, which requires you to provide the following information: country, city, region (optional), postal code, and street address.

Remember that your permanent address and the billing address that you use for official correspondence must be the same. This is a requirement.

You will be required to present evidence of your identity at the next stage. Make sure that the following criteria are met by your photographs and scans:

It is required that you send photos or copies of both sides of the papers.
Images that have been scanned ought to be in color and have a high resolution (at least 200 dpi)
The following file types are acceptable: jpg, gif, png, and pdf
The maximum allowed size for a file is 10 megabytes.
Images and scans must not be more than three months old.
Documents must be issued using Latin characters or feature Latin transliteration of the principal fields. Neither option is acceptable.
You are required to select one of the following possibilities:
Passport for international travel (double page)
A valid driver's license (both sides).
Both sides of a national identification card or a national passport are required (double page)

Please be aware that in order for your driver's license to be accepted as proof of your identification at the exchange, it must be a plastic card and all of the information contained inside it must be written in Latin transliteration.

HitBTC prompts us to snap a picture with the documents at this stage of the process. You will need to snap a picture of yourself holding one of the following items:

A message that has been penned and includes your email address, the current date, and your signature for the HitBTC KYC.

Your face, your identification, and the note you are carrying should all be prominently displayed and easily readable.

In the final step, you will need to choose the appropriate country code and then click the "Add" button before you can indicate your cell phone number.

The verification process might take anywhere from three to five business days. After your request has been sent, it will be placed in a queue and worked on as quickly as possible. This may cause the estimated time to increase.

You also have the option of obtaining the "Professional" designation (Pro). The following advantages are yours as a result of this:

Bitcoin and Ethereum are kept in a secure cold storage facility at Sequant Capital in London.

The approval granted by the FCA signifies that there are no limits placed on the amount of money that may be deposited or withdrawn from the account.

After the update, you will be given your very own personal broker who will also serve as your contact center. Not only that, but he or she will also supply you with ongoing market leadership, research, and trading ideas while providing the convenience of a "private bank account."

OTC transactions. As a bank transfer intermediary, the exchange can help simplify the banning of transactions involving OTC models made from the same account. This helps to mitigate the risk associated with counterparty relationships.

The anti-money laundering (AML) and know your customer (KYC) rules that apply internationally are followed by the HitBTC exchange. This indicates that the exchange gathers the personal information that has been confirmed of its customers, retains it, and takes precautions to ensure that no outside party ever uses these credentials to take any activity on the exchange on behalf of the exchange users. This may imply that users of HitBTC are required to authenticate their identities and produce evidence that they obtained their funds in a legitimate manner in some circumstances.

HitBTC does not try to disguise the fact that certain clients are needed to submit their personal information in order to complete certain transactions. HitBTC is a service that cannot be used unless the user confirms that they have read and understood the terms and conditions, which include a list of documents that the company may seek from the user. The public is better able to recognize potentially risky financial operations as a result of the AML and KYC requirements, and just consenting to use an exchange that complies with KYC standards is a modest step toward increasing the security of the global financial community. In addition, HitBTC is able to continue operating in countries that have particularly stringent legislation regarding cryptocurrencies since it complies with AML and KYC standards.

How Can Your Account Be Made to Look More "Professional"?

You are submitting an application to get your account verified.
The exchange will verify both your identity and the origin of your funds using KYC and AML procedures.
With the assistance of Sequant Capital, you may open an account in Bitcoin or Ethereum, and the company will keep your cash in cold storage until you desire to withdraw them.
HitBTC places a limit on your account that is equivalent to the amount of your deposit, and the exchange keeps these coins as initial security. 1 to 1
You are able to begin trading.
However, in order to be eligible for a change in account status, at least two of the following conditions need to be satisfied:

During the course of the year, the customer carried out substantial transactions on HitBTC at an average rate of ten times per three months (quarter).

The total value of the customer portfolio, which consists of fiat currency, stocks, and cryptocurrencies, is greater than 500,000 euros.

The customer has either been working in the financial industry for at least a year in a professional position that requires knowledge of investing and trading, or the client has been working in the financial sector.

After you have established your identity on the exchange by creating a profile, you will be required to deposit funds before you can begin trading.

To accomplish this, navigate to the page labeled "Account," then pick the cryptocurrency you wish to use to fund your account on the exchange.

To make a deposit, click on the plus symbol inside the circle that appears in front of the coin that you want to use in the "Deposit" column.

The QR code and the number of the newly produced wallet are displayed when the form is opened. Make a copy of the address of the wallet.

Additionally, you are need to paste the copied address into the column labeled "Recipient address" in the wallet from which you are transferring the cash. The only thing left to do is wait for the cash to be credited to your account, and then you can begin bidding.

To withdraw cash from HitBTC, go to the "Account" section and click on the circle with an arrow in the "Withdraw" column. This is located directly beside the currency that has been chosen for withdrawal. Complete the graphs on the form that has been opened. To accomplish this, enter the quantity of coins you wish to remove from your account.

After taking into account the percentage of the sale that will be deducted as the commission, the next column will show you how many coins you will really receive.

Click the "Withdraw" button after entering the address of the wallet that the funds will be withdrawn to. Wait until the funds are sent to the wallet that was indicated.

Be aware that if you withdraw coins and then submit an inaccurate digital wallet address (even if it's simply a typo involving one letter or number), you will not be able to get them back! This action cannot be undone; it is irrevocable. Because of this, you should check the address of your wallet very carefully.

You are required to put cash into the Trading Account before you can begin trading on HitBTC. To accomplish this: Navigate to the "Account" area; all of your balances (funds that have been added) will be reflected here.

You can move funds from the "Main Account" to the "Trading Account" by clicking on the arrow that is located in front of the coin you want to trade.

You are free to start bidding as soon as you have completed the process of transferring funds to a trading wallet.

Proceed now to the part labeled "Exchange" when you are ready.

It offers information on new trading pairs that have been added to the exchange, the option to choose a trading pair, the rate chart of the chosen trading pair, the open orders of other users, and other relevant information.

In this window, in addition to the form for selling money and the form for buying currency, the history of your transactions will also be presented.

Along with everyone else's, any open orders that you have will be listed here. Additionally, there is a chat for users that may be found there. On the exchange, you are required to have an amount that is comparable to 0.01 BTC so that you may participate in the conversation.

A graph depicting the market's depth is available just below the trading page. The amount of crypto that was bought is shown in green, while the amount that was sold is shown in red.

To begin, you have to decide which trading pair you want to use. To do this, choose the primary currency in which we will transact business (for example, BTC). The primary currency is indicated in the chart's header, along with the available trading pairs to select from.

Choose the currency pair that you wish to trade by looking for it in the list that is included on the chart that you are using (you can use the search). The website will instantly update and provide information on the selected pair of currencies as soon as you click on both of the currencies.

There are two separate forms labeled "Buy" and "Sell" located underneath the trading chart.

You need to decide on the parameters first before continuing to fill up the columns of the chart.

Various Forms of Orders:

The market determines the price, which changes based on how the market is performing.
Limit allows you to fix the price at whatever level you choose, and it will not fluctuate.
Scaled orders are a group of numerous purchase or sell orders that are automatically divided amongst a user-defined price range. Scaled orders can be scaled up or scaled down (from the minimum price to the maximum). The quantity might be on a flat scale, an ascending scale, or a scattered scale.

The Limit order comes in its own unique flavors, including:
Good-Till-ed, also known as To ed, is an offer that is valid up until the point at which the order is either fulfilled or ed.
Immediate-or-ed, also known as Immediately Or , needs to be carried out straight away. The IOC order will be partially ed if there are any components of the order that cannot be executed quickly. It is possible to merely execute a portion of the order; for example, only some of the coins out of the entire quantity that was provided can be bought or sold.
Fill-Or-Kill, also known as Run-Or-Kill, requires that the order be carried out in its entirety promptly or it will be ed in its whole (i.e., partial execution of the order is not allowed).
If the order is not processed on the same day that it is placed, the Day-to-Day option will immediately become invalid. The day comes to a close at 00:00 UTC.
Good-Till-Date / Time - Statute of limitations / Time - will automatically expire on the date and time that has been selected.

Since this is the most typical scenario, we will focus on the procedure of buying currency using a limit order that is good until it is led (Limit -o Good-Till-ed). As an illustration of a trading pair, consider ETH/BTC.

You can choose the minimum amount of ETH coins needed to make a purchase.
Determine the price at which we will purchase the coins.
Take a look at the amount of coins that we now possess (in BTC) and the price at which we may purchase ETH.

The moment you finish configuring everything and click the "Buy Limit" button, an order will be generated. After it is finished, BTC will be instantly removed from your wallet, and ETH will be automatically deposited to it.

It is important to perform the same activities as when buying coins in order to sell cryptocurrencies; specifically, it is necessary to fill out the "Sell" form. The only difference will be in the price; in order to maximize profits, a lower price should be set for purchasing coins, while a higher price should be set when selling them.

After you have finished filling out the form graph, click the "Sell Limit" button. This will simultaneously construct a trade order.

In July of 2020, HitBTC introduced the capability to engage in margin trading. The leverage available to traders might go as high as 12 times. This translates into the possibility for traders to borrow enormous sums of money from the exchange by pledging their own cash as security. When the trader gives back the coins that were borrowed from the exchange, she or he will have more money in their pocket since larger orders result in larger earnings. However, it is important to note that there is a possibility of losing all of the collateral or even more money in the event that the market fails the trader and the orders are executed at a loss. This is something that should be mentioned. Trading cryptocurrencies on margin is seen as insanity by some individuals. Traders with experience, on the other hand, are able to profit from it. You should give it a try if you count yourself among such people.

A crash course on trading on margin is going to be provided for anyone who is interested in learning more about it. The practice of borrowing money from brokers to engage in transactions known as margin trading was pioneered in the securities trading industry. When using cryptocurrency exchanges, a user can establish an initial margin by putting an order for either a long or short position. To back up this position, the trader has to have the appropriate number of coins in their possession. A trader can have access to more funds through the exchange, which can greatly increase the amount of money that can be made. In the event that the position does not generate a profit, the exchange will either need further collateral to be posted or will liquidate the position together with the collateral. In such a scenario, the trader suffers complete and utter failure. If the conclusion is favorable, the trader will return the money that was borrowed from the exchange, and both the profit (after a margin charge has been deducted) and the collateral will be deposited into the user's account. In order to open a long position while trading 1000 ETH against USDT at a ratio of 10:1, a trader is required to contribute 10 ETH. A "average" trader makes ten dollars, while a skilled trader who uses ten to one leverage makes one hundred dollars. People who use the margin trading option absolutely need to have the knowledge and skills necessary for risk management, market research, and recognizing uptrends and downtrends in the market.

HitBTC is a cryptocurrency exchange that provides its users with access to over 40 different trading pairs that may be leveraged. The leverage can be anywhere between 3x and 12x. The pairs with a ratio of 3:1 include XRP/EOS, TRX/EOS, XMR/EOS, LTC/EOS, DASH/EOS, XEM/EOS, NEO/EOS; the pairs with a ratio of 5:1 include BSV/USDT, ZEC/USDT, DASH/USDT, XLM/USDT, NEO/USDT, VET/USDT, DOGE/USDT; and the pairs with Users will need to navigate to the Margin tab and choose the instruments that have the desired leverage in order to establish a trading position that uses margin. The actual procedure for margin trading on HitBTC is exactly the same as the standard trading procedure.

HitBTC's customer care team is available at all hours of the day and night. HitBTC, much like a great number of other enormous exchanges, has an issue with the response times of its support service. Some users have reported that they have to wait for their questions to be addressed for a number of hours or even days, however this does not happen on a consistent basis.

There have been a few criticisms spoken about how long the KYC procedure may sometimes take. A number of interactions with members of the support staff must take place online before KYC can be completed. When it takes a significant amount of time to respond to each communication, the completion of the KYC requirements causes a delay in the processing of withdrawal requests.

The good news is that incidents like this tend to be rather rare because the majority of withdrawals go off without a hitch. The fact that those who are required to wait for a response from the support staff do, in the end, receive this answer, is what is more significant. The support crew does not abandon them and works to find solutions to their issues as soon as they have the opportunity to do so.

Users are able to verify, with the assistance of the system monitor, whether certain coins have been restricted from trading, withdrawals, or other operations for predetermined amounts of time. If the withdrawals are disabled for a number of days as a result of technical maintenance, there is no need to get in touch with customer service because the date that the withdrawals will be enabled again (or any other actions) will be displayed on the System Monitor page.

The tickets system is being used for all of the communication that takes place with the support team. The address of the support email is In addition to that, clients may communicate with the business through its sites on social media platforms, particularly Twitter and Facebook.

Customers have taken to the company's review section to accuse HitBTC of being a fraud. These reports, in the vast majority of instances, refer to instances in which users were unable to immediately withdraw their coins because they weren't able to successfully complete the KYC procedure due to delays in the customer support replies or the users' own unwillingness to provide the requested data. In other words, users were unable to withdraw their coins because they were unable to verify their identities. At some point, a number of the individuals who had posted in posts alleging that HitBTC was a fraud ultimately confessed that their issues had been resolved. It is reasonable to conclude, based on the feedback provided by users, that the slowness of the customer service department is the primary shortcoming of the exchange. The response regarding HitBTC as a whole is favorable.

The HitBTC platform offers a high level of safety. There are no indications that the exchange has engaged in any improper behavior. On HitBTC, users may experience issues that are related to technical issues, such as a delay in the processing of transactions and other similar issues. Users who encounter such issues frequently have a tendency to accuse the organization of being a fraud; nevertheless, it appears that the support crew is able to resolve these issues after a certain amount of time has passed.

HitBTC offers a sufficient number of safety precautions to protect users' cash and data. However, customers of HitBTC shouldn't assume that the security of their accounts is taken care of automatically. If you turn off 2-factor authentication, the security of your funds is compromised. It is imperative to turn on two-factor authentication as soon as possible once a robust password has been selected and the account has been created. Activating this safety step may be done through the use of the Google Authenticator app or any authentication program of a similar nature. The application creates one-time passwords that are only a few characters long and may be used within a minute. The real password is requested by the exchange each time a user attempts to log in or perform certain important operations (such as changing their password or withdrawing funds), as this information can only be accessed from the app that has been installed on a single device. It is impossible for anybody other than the account owner to log in, or at the very least, it is impossible to do so without the user's mobile device. Utilizing a two-factor authentication device known as a Yubikey, which is a physical USB key, is still another alternative to 2fa. Users are able to log in or complete 2FA considerably more quickly thanks to this feature. The business claims that there have been no account hacks at all among individuals or companies who use Yubikey. HitBTC traders who want to make 2fa easier and safer will be able to choose the ideal solution or even select a bespoke variation because the devices are available in a wide variety of forms and sizes.

At any moment, you have the ability to check to see if a violation has entered your account. On the page labeled "Security," you will get a list of ongoing sessions as well as a history of connections complete with IP addresses and geographical locations. If any of them look fishy, you may remove them from the list with a single click. This will prevent unwelcome visitors from accessing your account. Your next step after this should be to reset your password so that the malicious actor will not be able to log in again. This will prevent them from doing so in the future. The ability to set a whitelist of withdrawal addresses is another another layer of protection provided by the platform. Because of this change, withdrawals to addresses that are not mentioned on the list will no longer be allowed. In the event that the account is compromised, criminals will be unable to withdraw their funds.

The majority of complaints concerning the safety of the exchange are related to the support team's glacial pace and the lengthy processing times for withdrawals. The problem could be quite irritating to deal with. It is even possible for it to result in a loss of the prospective profit in some circumstances. However, these holdups won't endure forever, and at some time the money will go to where it should be. The Know Your Customer process often takes quite some time. Sometimes support agents do repetitive requests in circles. On the other hand, judging on the accounts from other customers, it does not appear that users who experience poor customer service work on HitBTC lose their assets as a result. Users are eventually able to successfully complete the KYC requirements and withdraw their money after some time has passed. There is no attempt being made to steal this money from the users. In this regard, the platform may be considered risk-free.

There is not a lot of information available on the several methods the exchange stores the funds. There is no public disclosure of the percentage of funds that are held in cold wallets by the platform. We are unsure as to whether or not the private keys are kept in an encrypted format when they are saved. We are unable to determine whether or not this data that is kept offline is physically divided. Is it dispersed throughout geographical areas? Nothing was said. Additionally, nobody knows the individuals that make up the HitBTC team. We are not familiar with the people that work at HitBTC, nor do we know who is accountable for the security of customers' cash. The fact that the team can't be identified raises worries at every turn. Despite this, HitBTC has maintained its status as a risk-free business for many years. The fact that there have been no documented hacking problems on HitBTC since the exchange's inception in 2013 is, in our opinion, sufficient evidence to draw any and all conclusions. This leads us to feel that this transaction may be trusted, despite the fact that we have some doubts about it.

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Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.