HitBTC Review

It’s also important to point out that even among the highest-quality exchanges, there are problems for the new user. Simply navigating a complex trading screen can befuddle even the brightest newbies, and once the purchase has been made the problems are only just beginning. The general account, which doesn’t require verification, has a daily withdrawal limit https://www.tokenexus.com/ of the equivalent of 5000 EUR in cryptocurrency. You are allowed a 25,000 EUR daily withdrawal limit of crypto. For fiat currency, there’s a limit of $2000 (EUR or USD) per week and $10,000 per month – both for withdrawals and deposits. The third level is a qualified account, which allows you to withdraw more than $25,000 worth of crypto each day.

HitBTC Review

The withdrawal fees will vary from token to token, and you can see the full list for yourself once you have made an account. Still, there are users who have complained about higher withdrawal fees, which you can even check for yourself when you go to sites like Coinmarketfees. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. 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. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

How to use HitBTC

While HitBTC has taken significant steps to protect users from outside bad actors, the same can’t be said with certainty about the exchange itself. There have been troubling reports from a significant number of users claiming HitBTC has frozen their accounts and locked their funds without explanation. Overall, HitBTC is meeting or exceeding currency cryptocurrency exchange best practices.

HitBTC Review

However, it’s worth mentioning that in the case if the market fails the trader and the orders are executed in a loss, there’s a risk to lose all the collateral or even more. Some people even refer to crypto margin trading as madness. This airdrop was a crucial point that turned dYdX into a fully decentralized exchange governed by its community.

Low Trading Fees

There aren’t any standardized withdrawal fees from HitBTC. The fee will vary depending on a number of factors such as the currency, current market conditions, and the amount you’re withdrawing. Users have reported that fees are often far higher than similar network fees in other exchanges. Users report very long response times at every stage of the process, sometimes as long as 72 hours for a simple receipt confirmation. HitBTC doesn’t require ID verification to deposit funds or make trades. However, any attempt to withdraw funds will trigger an immediate ID verification requirement.

  • Although HitBTC meets and enforces regulations related to anti-money laundering for those depositing with real world funds, the platform is not regulated by any licensing bodies.
  • It was originally started with a six million euro investment, and was a true group effort between traders, developers, and investors.
  • HitBTC functions like your typical cryptocurrency exchange.
  • Many of these tokens were distributed among the early dYdX platform adopters via an airdrop.

In our HitBTC review, we examine all the details you need to know about this exchange. Nevertheless, the Kraken exchange in any review appears as an exchange that is difficult for beginners, unlike HitBTC. It has many features for crypto exchange, which is great if trading is your daily work. Trying to figure out how to use Kraken may take more effort than it’s worth since easier-to-use platforms are available. HitBTC exchange is considered more intuitive for both an experienced trader and a beginner. Kraken is an American cryptocurrency exchange, one of the largest in the world in terms of cryptocurrency trading volume.

How to Register on HitBTC

In this regard, HitBTC withdrawal fees are some of the highest amongst all cryptocurrency exchanges. Like other exchanges, the trading fee structure is centered around an individual’s 30-day trading volume. So, if the trading volume is less than 10 BTC, then your maker and taker fees for spot and margin trading will be 0.09%, respectively. As for futures trading, the same trading volume would incur a maker fee of 0.02% and a taker fee of 0.07%.

HitBTC Review

As for beginner traders, they should be able to catch on fairly quickly via the demo account. HitBTC features extremely liquid marketplaces for trading digital assets, tokens, and fiat currencies (USD, EUR, etc.). However, when it comes to withdrawal fees, Binance turns out to be more democratic. Although both exchanges have large trading volumes, Binance has the biggest liquidity on the market while HitBTC is only one of the best exchanges by this parameter. In 2021, HitBTC added fiat-to-crypto and margin trading options. That was a serious step ahead if we compare HitBTC and Binance.

How to Use HitBTC

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. With this feature, you can add any deposit addresses that you trust. Essentially, this is meant to prevent someone (even a hacker) from withdrawing to an address that you aren’t familiar with or don’t control.

  • It’s important to point out that there is no financial service in the world which is completely trustworthy.
  • To verify your account to increase the limits and fund your account using FIAT, you will need to fill in the following information to complete your HitBTC KYC.
  • You can then add in as many different approved wallets as you like, for as many currencies as you wish to trade.
  • You only need to go through the list to find out the withdrawable ones before placing your withdrawal and it’s seamless.Thank you Hitbtc.
  • But for high limits, a range of currency options, detailed information, and very low fees, it is worth the pain.

Its overall security is robust, trading fees are low, and its volume is quite respectable. Nevertheless, HitBTC allows users to deposit funds HitBTC Review using real-world money. While this includes a direct bank transfer, the platform does not support debit/credit cards or e-wallets.

As a precaution, users can choose how long their account should remain active before automatically logging them out (30miutes, 1 hour, 8 hours, 1-7 days, or never). HitBTC brands itself as a highly advanced exchange for a variety of Altcoins including DASH, ZEC, EOS and BTS. Their core-matching engine includes superior order matching algorithms and real-time clearing. To do this, select the main currency to which we will trade (for example, BTC). The main currency is in the header of the chart with the choice of a trading pair. To withdraw funds from HitBTC, in the “Account” section, opposite the coin selected for withdrawal, in the “Withdraw” column, click on the circle with an arrow.