HitBTC also went offline at the same time, but never acknowledged any losses or that it experienced a security breach. In and , many users have complained of slow HitBTC support response times, and some users also experienced issues with fund withdrawals. @hitbtc @BootBoot1 @ES_HitBTC @HitbtcSupport8 Hello. You are right in pointing out that @hitbtcsupport8 is a scam, because indeed it is a scammer account that pretends to be HitBTC support. Tagging them would never have helped to get your issues resolved/5(10). Mar 23, · To deposit into your HitBTC account, you first must generate a wallet address. You can click on the “Deposit” button, which is green. From there, you choose the row corresponding to the currency you wish to deposit and click “Fund.” You will now get a wallet address, both the string of numbers and letters and a QR code.
Hitbtc deposit offlineHitBTC Review () - Is It Trustworthy?
A stop-limit order lets you make a limit order for a specific price. When it reaches this stop price, your stop-limit order turns into a limit order. 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 , clients in 18 countries. You would have to sign up and create a new account with Weltrade in order to start trading with the MT4 software.
The benefit of the MT4 platform over the web based one is that you can trade on leverage. In this case, you can trade on leverage from up to with larger volumes. You can also open short positions which is not something you can do on the normal HitBTC platform when buying the physical coins.
For those who have used the MT4 software will know just how advanced it is. There is a plethora of charting functionality, analysis tools as technical indicators.
The MT4 platform is no doubt one for professional traders who do a great deal of technical analysis. You can also use the MetaQuotes coding language to develop your own trading bots. In fact, you could probably code more effective bots with the MetaQuotes software as you have access to all of the indicators and market inputs right out of the box.
These are derivative instruments which means that you are not buying the underlying asset but merely trading on the price difference. CFDs work in a similar fashion to futures contracts that you have on platforms such as Bitmex and the like.
They are also margin instruments which means you must tread with caution as you can very quickly get liquidated and margin called. OTC trading allows users to perform high-volume trades without going through the public order books.
It means that you make your deal directly with the counterparty without affecting the market price of the coin or token. Something that many exchanges offer is an affiliate program where you can refer other traders and earn a commission off of their trading. Once you choose to sign up to the affiliate program you will receive a custom link that will be used to track your referrals.
They also have an advanced tracking and link creation system where you can create different links and monitor their relative performance in your affiliate dashboard.
There is a minimum requirement for a withdrawal of your affiliate commissions and that is 0. For example, the API has low latency which means that your trading orders are executed much faster than other exchange APIs. There is also a pretty high limit for API requests.
As mentioned, as an exchange, HitBTC will get benefits if their traders are able to provide some liquidity to their order books in the form of a market maker. If you are one of these traders that would like to participate in the market making on the HitBTC platform then there are a number of Market Making contracts that you can enter into with them.
These contracts have cash incentives as well as rebate bonuses. For those traders of you that would like to use their advanced API, then the market making functionality could be an attractive addition. Below is a table of the market maker contracts that are available at HitBTC. HitBTC will also provide daily reports on to the market maker in order to help them build the most efficient trading strategy. If you would like more information on how the Market Making contracts work you can consult the HitBTC market making page.
Below are a collection of all of the Metrics that are important for the HitBTC system health which is in alpha mode. This gives HitBTC a competitive edge over exchanges that keep their users in the dark about real time performance issues. While it seems that HitBTC has all the features that make it look impressive from the outside, there were a number of things that we were less than impressed with. Firstly, we have to take issue take issue with their customer support. You do not have to go far to find numerous complaints online about their slow response to customers.
This is probably compounded by other accusations that they traders have been unable to withdraw coins or having funds missing when making transfers.
This slow customer support is also not ideal when it comes to verifying your KYC documents. Given that they request so many documents, not only do you have to spend the time properly scanning everything but you may have to wait a number of days before the HitBTC team can properly verify them.
There have also been reported inconsistencies between the fees that some users are paying for transfers. Some users claim they have been charged high fees whereas others have had no issues. Lastly, you can only buy and sell coins that are divisible by , 1, or 10, This is not ideal especially for those smaller traders who want to trade the more expensive coins.
Although on the face of it, HitBTC seems to be a reasonable exchange, there have been a number of criticisms that have been levelled at them in recent months from high profile cryptocurrency users.
Update on my mom's saga with hitbtc. This is their response. Her acc. However, it seems that in a follow up to the tweet HitBTC unfroze the account and allowed his mother to continue trading. However, his criticisms were more to do with the large minimum buy in which could restrict the ability for poor investors to place funds on the exchange and buy coins. Whether these comments and criticisms are warranted is hard to determine. Many users online seem to complain about forced know your customer KYC checks when withdrawing funds, so a good practice would be verifying your account before starting to trade on HitBTC.
Also, the exchange employs a sophisticated legal team and complies with GDPR regulations, thus giving you full control over your data and privacy.
However, it scores only 9. Overall, HitBTC is a secure exchange in terms of technology it uses to protect your funds. However, the exchange lacks transparency when it comes to its team and location, which is a major red flag for some. On the contrary, it has a proven track record, operating in the industry for more than six years already.
For the inexperienced cryptocurrency buyer or trader, navigating the HitBTC website is, at first, a dizzying experience. Much of this initial complexity comes from how HitBTC is focused more on the experienced trader than on people new to cryptocurrency. As such, more experienced retail traders and professionals should not have issues with the exchange's interface. The entire trading interface is completely customizable so that you can organize these windows in the most convenient order.
When it comes to trading, the exchange supports the following standard order types:. That said, the actual mechanics of how the site works and how a user trades are surprisingly straightforward.
Users complete trades by depositing a chosen cryptocurrency into the HitBTC wallet, moves funds between main and trading accounts, and uses the deposited cryptocurrency to buy other currencies until he or she wants to withdraw their funds to an external wallet. As such, trading on HitBTC may not be too difficult even for complete beginners. Verified users can create sub-accounts that will help you to create different profiles for different trading strategies.
Moreover, HitBTC organizes various trading contests, so you can measure your skills against other traders and climb up the ranks in its leaderboard. Hopefully, the full version of the app becomes released soon. For the beginners, HitBTC exchange offers an opportunity to try and trade cryptocurrencies on its demo platform first. You can register and access the demo platform by clicking the demo option at the bottom of the screen or by simply typing demo.
You will need to create a separate account for the demo platform. A demo account gives you approximately USDT worth of cryptocurrency, so you can start experimenting with hypothetical portfolios and strategies, or simply get used to the cryptocurrency trading and HitBTC platform. As a popular cryptocurrency exchange, HitBTC has a support center for all sorts of user-related issues. The support center includes:.
The exchange team typically responds within 24 hours, but, in my experience, the resolution of some issues may take several weeks.
Over the counter traders take place as a result of a partnership with TrustedVolumes. Each trade will incur a 0. When it comes to cryptocurrency deposits and withdrawals, they are as straightforward as it gets. The withdrawals typically take several minutes and mostly depend on the network speed of the cryptocurrency being withdrawn. HitBTC is an interesting and exciting exchange. It does offer one of the broadest cryptocurrency markets selection in the entire industry, and its trading fees are the lowest, too.
The exchange is relatively secure and easy to use but is a better fit for more experienced traders. However, unregulated anonymous exchanges in obscure locations do attract their share of critics. As a result, a mysterious exchange like HitBTC will always have many supporters who are happy with its services, as well as numerous critics who are disappointed with its lack of transparency. Essentially, it all boils down to you and your risk tolerance level - do you trust the exchange enough to store significant amounts of cryptocurrency there?
Or would you instead go for a full KYC, regulated exchange? Home Reviews Exchanges. Open Account. HitBTC exchange homepage. Source: HitBTC. HitBTC offers one of the widest selections of cryptocurrencies available for trading and is one of the first exchanges to enlist emerging projects. Crypto-to-crypto exchange. Buy bitcoin or deposit some other cryptocurrency and start trading immediately without verification. You may be asked to verify your identity later, though. Secure exchange. Low trading fees.
Starter and General accounts pay 0. Demo account. HitBTC offers a demo account for new cryptocurrency traders. Everyone can try out its platform without making a deposit. Source: HitBTC demo platform. A picture of HitBTC team members. HitBTC exchange liquidity. Snapshot taken on April 24, Soure: CoinMarketCap. In order to get verified, you will have to submit the following documents: Personal information: Your name and surname, birth date, and nationality.