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. It is being used by over 100,000 clients in 18 countries. For the most part public sentiment favors HitBTC for their simple user interface and high volume trading. However, like any exchange, HitBTC has its positives and negatives that have been expressed by numerous traders. They make it so complex for you to withdraw your funds, they charge fee for not trading (being inactive from exchange) without letting you know.
The most stupid exchange I have seen…
The Support Team has replied and provided you with instructions regarding the addition proof of address document. Some of the platform’s main security features include address whitelisting, two-factor authentication, cold storage, auto logouts, strong password requirements, and more. Of course, HitBTC also has other security protocols running behind the scenes, and destined to intervene in case suspicious activity is detected.
HitBTC Margin Trading
- The account manager kept ignoring when i wanted my withdrawal, they refuse to let me withdraw but want me to put in more money.
- After that, click on the green “Buy Limit” button to complete the trade.
- To initiate a transaction copy and paste your wallet address at a third-party service.
- Enter the name of the coin you prefer in the search box.
- Additionally, HitBTC has developed a voting application and a demo trading platform for beginners offering them to try and trade cryptocurrencies on its Demo platform first.
- While HitBTC was initially designed to serve as a fiat-enabled cryptocurrency exchange, it has removed many of its fiat integrations due to regulatory concerns.
The HitBTC exchange complies with international anti-money laundering (AML) and KYC regulations. In some cases, this means that HitBTC users must verify their identity and provide proof that they received their assets legally. The exchange was leaving a gray area at that time and didn’t meet multiple strict requirements of US law in the sphere of cryptocurrencies. So, beginning with 2019 the residents of any of the states of the United States of America are not allowed to trade on HitBTC. HitBTC is the only exchange to charge absurde amount of fees when they considere the account inactive without giving a single warning to their user.
HitBTC Review: Is HitBTC Safe to Use?
- Margin trading was made available on HitBTC in July 2020.
- On the surface, the ability to buy IOU’s or ICO tokens seems like a positive, but some users have speculated that HitBTC may be selling IOU’s at a higher price to make a profit.
- Nevertheless, the Kraken exchange in any review appears as an exchange that is difficult for beginners, unlike HitBTC.
- I’ve already done thousands of trades here a few years back, so they earned already lots of money from me, but as a ‘thank you’ they deducted $300 in the last years in total for no activity.
- While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges.
You can do this either in the same window on the main page of the site, or through the “Register” button (in the upper right corner). In the second case, the registration form will open on a separate page. On the right side are presented forms for registration and a button to enter your personal account, if you are already registered. The developers of the website took care of their users, who can trade both day and night, so they developed two types of design – day and night.
Certain digital assets require more information be inputted when depositing or withdrawing. For example, Monero requires a payment ID when withdrawing, whereas Bitcoin and Ethereum only require the recipient’s wallet address. 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.
Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details. The future may see HitBTC Review a greater emphasis on interoperability and regulatory compliance, as these platforms continue to bridge traditional finance with the emerging digital economy. HitBTC has a maker/taker fee schedule which you can see below.
They really steel your money
HitBTC offers a support center that features a variety of articles covering everything from ‘Account & Security’ to ‘Legacy & KYC’. A really interesting feature of HitBTC is their trading of ICO coins. HitBTC’s provides access to over 300 crypto currencies, including Bitcoin, Ethereum, Lite coin, Doge coin, Monero, and USDT. When you place an order that doesn’t fill immediately (like a limit order), you are a “maker,” who is providing liquidity to the order book, and you pay a reduced “maker” fee for this.