Below is a table of the market maker contracts that are available at HitBTC. It’s important to note that when you trade with this MT4 platform, you are trading CFDs (Contracts For Difference). These are derivative instruments which means that you are not buying the underlying asset but merely trading on the price difference.
It is fair to say that judging by user reviews, customer support speed is the main drawback of the exchange. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. Since cryptocurrency popularity is growing you can find such a variety of platforms that allow you to buy, sell and trade cryptocurrencies.
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 charges just 0.1% in trading fees, which makes it very competitively HitBTC Review priced. HitBTC lists over 300 different cryptocurrencies, which equates to over 800 different trading pairs. According to the vast majority of reviews online, response times are super slow.
While it is a positive that HitBTC does have a social media option for addressing customer issues (Reddit), there have often been queues of unanswered questions at times. Some of the plus points of HitBTC are it has 450+ digital assets with more than 960+ trading pairs. Secondly, it uses a maker-taker model for calculating trading fees and also considers trading volume and HIT holdings while calculating your trading fees. The more trading volume, the more discounted trading price.
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 havenâ€™t disclosed any such incidents. Some sources claim that HitBTC was hacked in early 2015 together with BTER and Excoin exchanges, though the information https://www.tokenexus.com/ hasnâ€™t been confirmed. Once you reach tier 8, that is trade 50,000 BTC per month or more, HitBTC will start paying you a rebate of -0.01% per every completed trade. Once you’re in demo mode, you can make adjustments, check out the graphs, and make trades without having to sweat the outcome.
- Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications.
- The more HIT tokens you hold or use in pair trading, the more discounted the trading price.
- So, beginning with 2019 the residents of any of the states of the United States of America are not allowed to trade on HitBTC.
- 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.
- The exchange is also a magnet for many new (and sometimes shady) token offerings.
- According to platform official sources, HitBTC is operating under the parent company name of HiTech Digital Business Ltd., registered in the British Virgin Islands.
As a precaution, you can choose how long your account login will remain active before automatically logging out. The options include 30 minutes, 1 hour, 8 hours, 1-7 days, or never. Not long after its launch in 2015, HitBTC went offline for a short period of time. During this event, some users complained that they couldn’t withdraw funds from the exchange. This was presumed to have been caused by the exchange freezing user funds as a security precaution after another exchange called Bter had funds stolen during a hack. Overall, the HitBTC incident of 2015 wasn’t a major problem.
HitBTC is denying access to my account…
HitBTC is widely known for its simple user interface and high-volume trading. It is a place where both newcomers and trading professionals will be able to trade with ease. In this in-depth HitBTC review, we will dig into the exchange fees, services, customer support, trading, and much more. Let us get started and look in detail in this review now. HitBTC provides enough measures to maintain funds and data safety.