Is HitBTC a scam? What is your review on the HitBTC exchange?

Contents

I lost all the money in my account because of a hidden inactivity fee
Top 5 Wallets
Free Bitcoin Crash Course
HitBTC Supported Countries
Scam app

The support team has shared their advice on how to proceed with the local authorities in this case. The support team has replied to you on September 16th 2021 and provided you with instructions. Please check your inbox and your spam folder and proceed accordingly. This is a standard practice that exists in other exchanges as well.

Use our Exchange Filters to find an appropriate exchange accepting US-investors.
ConfirmationNext, a letter will be sent to the specified email address with a request to confirm the account.
The exchange is also a magnet for many new token offerings.
That being said, it’s recommended to wait for the app to be completely developed in order to have a full experience.

Let’s move further to find out whether or not the company manages to achieve its main goal and how good the services they provide actually are. The KYC designed by HitBTC has proven to be a fraudulent scheme to hold traders funds on an indefinite basis, even though users are complying with everything which is being asked of them. The exchange is good, but couple of times my transactions stuck. It was November-December 2017, users’ overload, Bitcoin $20000, etc. It took a while for them to answer, though everything was solved later… My advice is to have enough patience in case the support is too busy answering other questions.

Interestingly, HitBTC is one of the few exchanges that will still let you generate new deposit addresses, which can be a good way to help retain a degree of privacy in your coin transfer habits. The first thing you will want to do is to activate 2-Factor Authentication (2-FA) by pressing the “Secure My Account” button in the popup . The 2 methods for 2-FA offered by HitBTC are Google Authenticator and YubiKey. Be sure to write down the backup code provided as it will be the only way to log into your account should you lose access to your 2-FA app/program. It remains a stable, unwavering entity in a highly uncertain industry which has seen dozens of competitors come and go.

WithdrawalEnter the wallet address to which funds will be withdrawn and click “Withdraw”. 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. Further, the copied address must be pasted into the column “Recipient address” in the wallet from where you transfer funds. It remains to wait for the funds to be credited and you can start bidding.

HitBTC provides enough measures to maintain funds and data safety. However, HitBTC users shouldn’t take the security of their accounts for granted. As soon as the strong password is set and the account is created, it’s important to enable 2-factor authentication. This protection measure can be turned on via the Google Authenticator app or a similar authentication application.

The user can see the open orders displayed on the screen, and they can also find a user chat on the same screen. Suppose the user wants to trade Bitcoin or other cryptocurrencies. In that case, they can use the HitBTC crypto-to-crypto exchange to buy cryptocurrencies or deposit Bitcoins and other supported currencies.

It’s also very useful to look at the number of active users. Clearly, if comparing Binance vs HitBTC, the bigger active user base is gathered by Binance with around 28.6M users. If we look at the cryptocurrencies that are accepted by these exchanges, we can see that Binance has a higher number of acceptable crypto than HitBTC. The system will be calculating your trading volume for the last 30 days and determine the fee rate for your account every day.

Today we are going to talk about HitBTC one of the best known cryptocurrency exchanges in the sector. Any time you can check if your account wasn’t accessed by a violator. In the Security tab, you can see the history of connections with IPs and locations and the list of the active sessions.

I lost all the money in my account because of a hidden inactivity fee

Moreover, the exchange offers exclusive rebates to HIT owners and gives discounts for HIT trading pairs. Using a starter account, the trader can start trading immediately, keeping in mind that it is limited to cryptocurrency deposits and withdrawals. https://forex-reviews.org/ The limits are set to 1 Bitcoin daily and 5 Bitcoin monthly withdrawals that do not need verification. One of the important features offered by the HitBTC trading platform is that the user trades without verifying their account.

The fees are based on a tiered system that rewards users that trade with higher volumes. In short, the default trading fee for HitBTC is lower than popular trading exchanges such as Binance, FTX, Huobi and Coinbase Pro. Established in 2013, HitBTC is a reputable exchange for trading 519 digital currencies across its spot exchange, margin and Futures markets with up to 75x leverage. The platform is designed to cater to beginners, experienced and institutional traders with a demo account, low fees from 0.09% per trade with rebates through a tiered fee system. Binance is a cryptocurrency exchange software product that makes it easy for you to start a crypto exchange portfolio.

The Shrimpy Team is comprised of highly experienced content writers who analyze and research the latest market trends, delivering content suitable for both beginner and veteran crypto investors. The lowest fees in the industry, exceptional API order execution, and an over all pleasant experience. That means they will pay you for maker orders that are executed after you reach a volume of 50,000+ BTC. Next, we will walk through the process of retrieving your API keys.

HitBTC offers one of the widest selections of cryptocurrencies available for trading and is one of the first exchanges to enlist emerging projects. HitBTC might have many advantages and upsides, but the disadvantages are so major that they cannot be ignored. Out of all the downsides of HitBTC, it is the slow-withdrawals that they need to work upon to retain their users. Withdrawals not reaching customers on time, and lost-trades are the most frequent complaints from users. If they resolve some of these issues and focus on improving the experience of their users, they might have a higher user base in future.

Top 5 Wallets

If some of them seem suspicious you can terminate them in one click. The next thing you should do after this is change your password so the bad actor won’t be able to log in one more time. Another security feature is the opportunity to create a whitelist of withdrawal addresses. This move will forbid withdrawals to the addresses that are not included in the list. If the account gets hacked, thieves won’t be able to cash out. On September 20, 2021, the exchange has introduced a new feature Perpetual Futures Trading.

Users deposit and withdraw from their main account and in order to trade, users must transfer their funds from the main account to the trading account. HitBTC is the 11th largest cryptocurrency exchange by daily volume according to CoinMarketCap.com data as of writing . The HitBTC exchange platform launched in 2013 and is operated by Hit Techs, Limited based in London. HitBTC, or HIT Solution Ltd, is registered under Hong Kong jurisdiction. It prides itself in being “the most advanced Bitcoin exchange” which this article will evaluate in full depth. Advanced pocket-sized cryptocurrency exchange platform with all the instruments to manage your digital assets on the go and some of the lowest fees across the industry.

Free Bitcoin Crash Course

It surely is one of the longest-standing platforms in the cryptocurrency industry. As mentioned elsewhere in this review, trading on HitBTC is satisfying. The order execution engine developed by HitBTC is responsive and provides a pleasant experience for traders who want to personally manage their execution. Many people compare HitBTC to Binance since both exchanges are crypto only and are relatively lenient regarding the coins they list and who they accept as a customer.

That’s literally everything you can possibly have to get your account back. As for reviews… Those who post bad reviews also could be trolls. They might just get money for posting ‘something’ ‘somewhere’ to own their living. I think that you’ll never know until try trading with them.

HitBTC Supported Countries

If they are depositing using cryptocurrencies, the user need not verify their identity, and it takes not more than 20 minutes for the funds to show up in their account. Meanwhile, verified users fall into HitBTCâ€™s tier fee system, which determines trading fees based on the userâ€™s trading volume during the past 30 days. HitBTC offers a demo account for new cryptocurrency traders. Everyone can try out its platform without making a deposit. Buy and sell over 380 cryptocurrencies in more than 800 cryptocurrency pairs.

HitBTC doesn’t have verification as part of the KYC process and therefore, it is easy for traders to use. HitBTC is explicitly limiting the participation of low volume traders in the OTC trading — the minimum trade volume allowed in the OTC desk should be equivalent to 100,000 USDT. The OTC trading fees are higher than the usual trading fees on HitBTC. The OTC desk on HitBTC is provided in partnership with Extendeddealer.com. For upgraded accounts, HitBTC utilizes a trading fee tier system, rewarding community members for high volume trading. To put it simply, the more the user trades the lower their trade fees will be.

The app generates one-time short passwords that can be used in 30 seconds. Every time someone is trying to log in or do some critical actions , the exchange requests the actual password that can be retrieved only from the app installed on a single device. No one except for the account owner can’t log in or at least can’t do that without taking a user’s mobile device. Another 2fa option is using a Yubikey device, a physical USB key for authorized access to accounts. The company boasts zero account hacks among people or organizations using Yubikey. The devices exist in numerous shapes and sizes so HitBTC traders wishing to make 2fa easier and safer will be able to find the best option or even choose a custom variant.

While most cryptocurrency exchanges do not have a deposit fee, HitBTC charges a fee to deposit onto their site. The withdrawal fees are competitive and similar to that of other exchanges. Recently , HitBTC released a demo version of their platform. Using a demo account, users can try their hand at trading without risking any financial investment. They can trade simulated funds in order to get a feel for trading and educate themselves. At the same time, all the market data in the demo is the same real-time data from the real HitBTC exchange.

HitBTC offers the highest level of security measures using 2FA and advanced encryption technology. Finding a trusted and safe cryptocurrency trading platform to exchange digital assets or trade with leverage can be a difficult task with so many options available. In this review, we examine the self-proclaimed “most advanced hitbtc crypto exchange review Bitcoin exchange” called HitBTC. We will assess and compare its most popular features, supported assets, trading fees, security and customer service. It is a regulated company with headquarters in San Francisco. The service appeared in 2012 and in the first two years managed to attract more than a million users.

Forex Trading

Is HitBTC a scam? What is your review on the HitBTC exchange?

I lost all the money in my account because of a hidden inactivity fee

Top 5 Wallets

Free Bitcoin Crash Course

HitBTC Supported Countries

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