The HitBTC platform is friendly to users who are involved in creating trading bots. The robot-friendly API of HitBTC uses low-latency data for the cryptocurrency market. Users can find more information on API and API documentation on the website. After creating the account, the user should proceed with HitBTC login and deposit funds. If they are using a bank transfer to deposit funds, they should undergo a verification process which will take some time.

Despite being the 5th largest trader by volume and one of the most advanced platforms on the web, reviews have not been kind to HitBTC. After this, you will see the unique deposit address of the coin you selected. Click on the “Copy” blue button to copy the wallet address to your clipboard. Then, go to your private wallet, paste that address, and transfer your funds. The very first aspect that multiple HitBTC reviews distinguished is the fact that this crypto exchange has poor customer support.

scam

If they reach tier 8 like if they trade 50,000 Bitcoin a month or more, HitBTC will pay the user a rebate of -0.01% for every completed trade. If the trader liquidates a trade position to reach the liquidation price, HitBTC charges a liquidation fee of 0.5% of the position value in the quoted currency. HitBTC is a European Bitcoin exchange that started its project with 6 million received as venture capital in 2013 in Hong Kong. This platform offers its services globally without any restrictions.

For those cryptocurrency traders who used to trade Forex and stocks, they may have come across the MetaTrader4 software suite. This is some of the most advanced trading technology in the retail trader space. You can also go to the ‘Markets’ page to view all the latest prices and trading volumes of the last 24 hours for the crypto currencies available.

How to withdraw cryptocurrency on Hitbtc?

HitBTC is also one of those exchanges that are open to bots, which are relatively few and provides various APIs that can aid tech-savvy users in being able to trade automatically. It has been hacked in 2021 where it lost nearly $1 million. There are several users claiming that their HitBTC was hacked but the company remains silent on this issue. There is no formal disclosure of company employees’ strengths and other details.

In 2017 and 2018, many users have complained of slow HitBTC support response times, and some users also experienced issues with fund withdrawals. At the same time, it’s London-based parent company Hit Techs Ltd. was dissolved in May 2017, leaving question marks about the exchange’s current ownership. You can find information about fees for inactive accounts in our Terms of use (clause 18.4).Please note that HitBTC is not the only platform to implement the inactivity fee policy. It is one of the fastest and most comprehensive trading platforms on the market.

Withdrawal fees

It has never been hacked before, besides some sources saying otherwise without any proof regarding security. However, there are a certain number of complaints about users being hacked. There are chances that such an accusation HitBTC Review may or may not be accurate. 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. Hitbtc is most secure exchange till now as of my experience.

• But this is one of the possible outcomes for a financial services industry that is not well-regulated, and which has so much money pouring through it at all times.
• If the trader liquidates a trade position to reach the liquidation price, HitBTC charges a liquidation fee of 0.5% of the position value in the quoted currency.
• 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.
• HitBTC even accepted fiat payments from some non-European countries, offering access to a host of new users who were not served by HitBTC’s well-known competitors.
• If users want to trade with HitBTC, they can get a combination of crypto-to-fiat and crypto-to-crypto currency pairs.
• While such fee structure works for large-volume traders, it may be irritating for small traders dealing with small amounts of crypto.
• Issue is I have $10000USD stuck inside the account while I tried to purchase bitcoin money was deducted from my account but I never got the coins.

They are also margin instruments which means you must tread with caution as you can very quickly get liquidated and margin called. Of course, this depends on how secure you feel about providing HitBTC with your personal documents. HitBTC claims that they keep all client material confidential and they have not suffered a hack as of yet. On HitBTC, “Takers” are charged with a 0.1% fee from the trade. “Makers” are not charged with a fee, and instead receive a 0.01% rebate from the trade. This is because you are “taking” the price you want right now (removing the liquidity from the books) by buying or selling limit orders sitting on the books.

HitBTC has teamed up with Weltrade to offer cryptocurrency traders an alternative to the HitBTC web platform. You would have to sign up and create a new account with Weltrade in order to start trading with the MT4 software. For issues that require users to email the support team, there have been complaints online about very slow response time (taking weeks and even months before an issue is resolved). Most common problems people have complained about are withdrawal delays and inexplicable loss of funds. In the ‘Amount’ box, enter the amount of cryptocurrency that you want to buy. Once you are happy with the figures showing in the trading box, click on the green ‘Buy Limit’ button to complete your trade.

I had to consult with fortechester to aid in wresting back my assets. Only way i escaped the sad loop this platform brought upon me. To be eligible for HitBTC’s OTC service, you must exchange more than $100,000 for each trade, and each transaction will be charged a 0.1% transaction fee. Some users have https://www.tokenexus.com/ even started a petition against the low-level service HitBTC is supplying. A quick online search showed a mob of angry customers posing similar reviews about the company. The first time I tried to withdraw my affiliate Bitcoin balance from HitBTC I had 0.25BTC waiting for withdrawal + another $600.

Trading Pairs

But this is one of the possible outcomes for a financial services industry that is not well-regulated, and which has so much money pouring through it at all times. There are simply too many reasons for dishonest exchange owners to funnel user funds into their own private wallets. Whatever the case, new users should stay well away from HitBTC. There are simply too many other services which out-class it in every respect, and will especially not steal user funds. We use these companies because we believe we can trust them with our money, to correctly account for and channel all funds to the correct destinations. When a company like HitBTC breaks our trust, they make themselves immediately irrelevant to the needs of the market.