🔥 HitBTC test 2021: Exchange experiences & rating

HitBTC logo

Trying to decide if HitBTC is the right crypto exchange platform for you? Our close review will help you make up your mind.

HitBTC, based in Hong Kong, is a digital currency exchange owned by HIT solutions, Ltd. is. The exchange was founded with some of the best technical resources in the field, and it also employs seasoned traders, fin-tech professionals, and high-quality software developers. The results are evident in HitBTC's rising popularity.

HitBTC website

About HitBTC

HitBTC was founded in 2013 with over $ 6 million in venture capital and has a trading volume of more than $ 300 million. This exchange has brought a high level of stability and availability to its users, which makes it one of the most reliable platforms available.

You can consider HitBTC if you are interested in trading altcoins. The exchange offers a wide variety of coins, including BTS, DASH, EOS, XMR, and ZEC. The website also has a core matching engine which allows users to have real-time clearing along with order matching algorithms.

characteristics

If you are an avid cryptocurrency trader, you will be pleased to know that HitBTC has many features that make things easier. The exchange not only offers the advanced technologies mentioned above, but also offers low trading fees. These are just some of the features that you get with the HitBTC exchange. Here are some other additional benefits:

No restrictions on withdrawals or deposits from cryptocurrencies

· Over 150 instruments to choose from

· Reinforced security measures

· No registration required

· Full access to trading

· Unlimited top-up credit

· High liquidity

· Various charts and graphs for trade information

· Easy to use platform

· Tips and tricks for trading on the site's blog

Why use HitBTC?

In addition to the low fees and high liquidity, HitBTC makes it easy to set up your account and start trading. We'll guide you through the brief setup process below. That the exchange supports so many coins means investors and traders can buy or sell coins that may not be available on other exchanges.

If you are an active trader, HitBTC might make sense for you as the exchange would allow you to profit by setting limit orders. The website also offers users the option to download their entire trading history, as well as the website's entire trading history. This shows transparency on the part of the exchange and shows its willingness to comply if it is audited.

Opening an account

Registering with HitBTC is easy and only takes a few minutes.

Important information

· Access to more than 150 cryptos.

· Start trading in minutes.

· Easy to handle.

· Free helpful trading tips.

First go to that Homepage of the exchange and select the option "Register".

It may be a little hard to see, but the screenshot highlights the "Register" button in the top right:

HitBTC website registration

As soon as you click on "Register", you will be taken to a page where you can enter an email address and a password. When you have entered the required information, a confirmation screen will appear. On this screen you will be asked to visit your email account and verify your details. You open the email, click on the link and HitBTC will activate your account, and you're ready to go!

HitBTC deposits and withdrawals

If you want to deposit funds into your HitBTC account, you must first create a wallet address. Select the green "Deposit" button in the top right that will take you to your account page.

From there you can select the desired currency by clicking on the "Fund" option.

HitBTC deposits

If you select Funds, the selected option will expand to show a series of numbers and a QR code.

HitBTC deposit address

Remember that each digital asset in your account has its own unique wallet address. Some currencies require additional information such as a target tag when moving XRP. Make sure you take this into account when starting the deposit transaction.

After your balance is received on the HitBTC exchange, you will see a pending transaction at the bottom of the account page. Your account will be charged with your digital assets shortly afterwards.  

You stay on the same account page to withdraw your digital assets too. Find the cryptocurrency you want to withdraw, then click the "Withdraw" option in the appropriate column. Remember that these coins have to be in the main account in order to withdraw them.

HitBTC withdrawals

Enter the amount you want to withdraw, then enter the recipient's address, be sure to double-check the address as you will not be able to cancel the transaction. Just like depositing, some digital currencies require additional information so be sure to include this.

For example, with XMR you have to provide the payment ID along with your wallet address. The only limitation to withdrawing your funds is that it must be enough to cover the transaction fee. The amount of this fee can be found directly under the "Amount" field in the payout line.

If you have activated 2-factor authorization (which we will talk about in a moment), you will need to enter the authentication code when you select "Withdraw". When this is complete you will receive a notification informing you that you need to confirm the withdrawal process via email.

Navigate to the email and find the message from support@hitbtc.com. You will see a label that says "Withdrawal Request" and a link to confirm the transaction. You have one hour to confirm the transaction before it is canceled. Once you've verified it, you'll be returned to your account page.

security features

Since blockchain transactions cannot be canceled or reversed, you should make sure that your funds are protected from hackers or other malicious intruders. There are a couple of things you can do to make sure these things don't happen.

2-factor authentication

Using 2FA is an absolute must when using a cryptocurrency exchange. If someone accidentally accesses your password, they will not be able to verify transactions without your authentication code.

To set up 2FA in your HitBTC account, you need to navigate to the Settings tab. You will see the gear icon in the top right corner of the website. Once you reach this page, click on the Security tab. Follow the instructions here to verify 2FA and ensure better security for your account.

HitBTC 2 factor authentication

Password

You can also set a stronger password while on the Security tab if you feel that your first password is not up to date. A strong password is a unique password that protects your account from brute force attacks.

Remember that you should not use names, dates, or simple words in your password. If possible, you should change your password at least once a month, if not more often. Keep your password in a safe place and do not give it to third parties. HitBTC states on its website that its support members will never ask for your password.

whitelisting

You can activate the whitelist in the same way as you activated 2FA and changed your password. Click the Settings gear icon and select the Whitelisting tab.

HitBTC whitelisting

Whitelisting is a new feature that allows HitBTC users to define a list of approved addresses for withdrawal purposes. If your account is compromised, this is a great tool as the whitelist prevents your money from being sent to an address that you haven't listed. It's the perfect tool that you can use as a triple-checked security measure for your digital assets.

Retail

When you are ready to start trading on HitBTC, you need to transfer your funds from HitBTC's main account to the trading account. On the Accounts page, select the blue arrows between the two accounts labeled "Transfer".

HitBTC trading overview

You will then need to specify how much you want to move. After entering the amount, click the "Transfer" button to complete the transaction.

HitBTC crypto transfer

As soon as this step is completed, you will see the coins in your trading account. Now you can set up an order. Navigate to the "Exchange" tab, then select the trading pair from the "Instruments" section.

HitBTC Exchange instruments

Once you have found the cryptocurrency you want to trade, you can select which type of order you want in the “Sell” and “Buy” boxes in the lower left corner. If you need information on each type of order, the page offers a brief one Description when you move the mouse over the question marks provided.

HitBTC Limit Orders

In the "My Orders and Trades" area on the right side of the screen you will see an archive of your orders. There are a couple of other options on this tab of the exchange. With the option "Reports" you can manage your trades across markets. From this point on, you can select "My Orders" to view the order status, trading archive and current pending orders.

At the very bottom of the "Exchange" screen is the order book that shows the latest sales. You can also view prices and depth of market while the cryptocurrency you choose is being sold and bought.

order types

HitBTC offers many order types that you as an active trader are sure to know. For those who are not that deeply involved in buying and selling, here are the order types HitBTC offers, along with a brief explanation:

Market orders

This type of order gives you the opportunity to buy or sell the digital currency you have chosen at the current market price. This is the best price you will get when you order. Since the price may vary in real time, all charges for the orders are an estimate only.

Stop orders

Stop orders execute trades at a certain price. These orders differ from limit orders in that they turn into market orders when the stop price is reached. Stop orders do not require any reserved funds and will only appear in your order book after activation.

Limit orders

A limit order is executed when a trade hits a certain price or better. The limit order to buy is lower for the limit or any amount, while the sell limit orders are for the limit or higher. Once you have placed the order with HitBTC, the assets are reserved in your account so that you can consult them or see them in your order book.

Stop limit orders

Finally, stop-limit orders allow a limit order to be created and set at a specific price. When the stop price is reached, the stop limit order becomes a limit order. By using a stop limit order, you can set both the limit price and the stop price. When the stop price is reached, the limit order is triggered with the limit price you have selected. Similar to stop orders, stop limit orders only appear in the order book when activated and do not require your money to be reserved.

HitBTC Exchange security

We discussed how to make your personal HitBTC account more secure, but how secure is the exchange itself? This is a particularly serious question considering the platform was hacked in 2015, just a few years after the website launched.

As an exchange that has existed for some time, HitBTC wants its users to know that it values ​​its security. There are several methods that the exchange aims to use to keep your account information safe and secure. First, make sure your account has a strong password and that 2FA is in place.

HitBTC also uses a safe haven for the majority of its funds, using advanced encryption features to protect your data from possible intruders. In addition, the exchange will send you an email when you view your account from an IP at a new location.

Users also have the option to end all sessions, which logs out all active sessions. This option is on the Security tab that you used when you set up your password and 2FA. If you want your session to end after a certain period of time, you can choose how long you can stay logged in. You can choose one of the following options: 30 minutes, 1 hour, 8 hours, one day, seven days, or never to be logged out.

If you are unsure about the security of your account, you can also view your most recent activity on the Security tab. You can see actions like changing your password, withdrawing funds, activating 2FA or the last time you logged into your account.

Support

HitBTC does not currently offer phone or chat support to its users. If you discover that a phone number is promoting HitBTC in support of HitBTC, ignore it. If you have a problem, you can use the Support page from HitBTC visit. Here you can search the documentation to find the best solution to your problem.

If you can't find what you need, the website will provide a form that you can fill out and someone will contact you. HitBTC urges users to take this route before looking for information on Twitter or Facebook.

HitBTC fees

As with exchanges like Binance, HitBTC has a taker and broker fee model. Brokerage fees are when you have to enter a limit order and wait for your order to be filled. Takers don't hang around taking the current market price.

·       HitBTCH creator fee: You actually get a 0,01% discount on trading, which is a reward for generating promotions on the exchange.

·       HitBTC usage fee: 0,1%.

HitBTC's withdrawal fees change according to the cost of processing a transaction for each cryptocurrency. However, HitBTC's withdrawal costs are competitive compared to other cryptocurrency exchanges such as Bittrex or Binance.

Overall, the fees on HitBTC are pretty attractive. What is incredibly good is that if you only place limit orders and receive your 0,01% discount for every trade, you can actually benefit from trading on the exchange.

Advantages and disadvantages

No exchange is perfect, even if it looks like it. Here are some of the pros and cons that you will experience with HitBTC.

Advantages

· Supports hundreds of altcoins

· Stable uptime

· Low fees

· Easy to handle

· Unlimited deposits and withdrawals with no fees

· High liquidity

Disadvantages

· Slow withdrawal times

· No mobile app

· No phone or email support

· Limited payment options

Summary

HitBTC is one of the better exchanges, largely because it's been around for a while. The exchange had plenty of time to solve problems and fix bugs. It also offers many features such as trading tips, a wide range of altcoins and an easy-to-use user interface.

There are a few things to keep in mind, however. There are times when it takes longer than usual to withdraw your funds on the exchange. Additionally, verification by the exchange is a lengthy process that requires sending personal documents to HitBTC. Recently, there have been bad reviews from HitBTC users reporting bad experiences with customer support. They criticize ridiculously long waiting times and even cases of frozen accounts or the prevention of cash withdrawals.

Overall, HitBTC is a solid exchange worth considering. This is especially true if you are trading high volume or liquidity is important to you. However, the recent emergence of complaints and frozen accounts is cause for concern. This is all the more frustrating as HitBTC's customer support is severely limited.

We from BC1 recommend that while HitBTC is a solid feature-rich exchange, you should be cautious given recent developments.

Frequently asked Questions: 

HitBTC was founded in 2013 with over $ 6 million in venture capital and has a trading volume of more than $ 300 million. This exchange has brought a high level of stability and availability to its users, which makes it one of the most reliable platforms available.

In addition to the low fees and high liquidity, HitBTC makes it easy to set up your account and start trading. We'll guide you through the brief setup process below. That the exchange supports so many coins means investors and traders can buy or sell coins that may not be available on other exchanges.

Registering with HitBTC is easy and only takes a few minutes.

If you want to deposit funds into your HitBTC account, you must first create a wallet address. Select the green "Deposit" button in the top right that will take you to your account page.

Do you want to trade cryptocurrencies with the best conditions?
eToro logo

Start on eToro, the test winner crypto broker from Bitcoin-News.one

SIGN UP NOW
Cryptoasset investments are unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. Not ready yet? Read our Etoro review.

Thomas Cormik

Thomas Cormik started out with the sole focus on educating his readers about Bitcoin and its potential impact on traditional financial systems. Thomas prides itself on bringing quality content to the masses under the Bitcoin-News.one banner.

More articles on the topic:

Exchanges
🔥 FXEurope Test 2021: Broker Experience & Rating

FXEurope Test 2021: Experiences & Evaluation of the Broker 🥇 Fraud or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Smartbroker Test 2021: Broker Experience & Rating

Smartbroker test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Mkhonto Financial Services Test 2021: Broker experiences

Mkhonto Financial Services Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Capixal.com test 2021: broker experiences & rating

Capixal.com test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Tradedwell Test 2021: Broker Experience & Rating

Tradedwell.com test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Bitfinex test 2021: broker experiences & rating

Bitfinex test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Trade Republic Test 2021: Broker Experience & Rating

Trade Republic Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Coinbase Pro test 2021: broker experiences & rating

Coinbase Pro Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Anycoin Direct Test 2021: Broker Experience & Rating

Anycoin Direct Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Bitpanda test 2021: broker experiences & rating

Bitpanda test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Open a Bitcoin account guide 2021: Bitcoin account test & comparison

Open Bitcoin Account Instructions 2021: Bitcoin Account Test & Comparison 🥇 Best Bitcoin Account Germany 🥇 Simply create a crypto account

Learn more...
🔥 Capital.com review 2021: broker experience & rating

Capital.com Test 2021: Experience & Rating of the Broker 🥇 Scam or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 HFTrading Test 2021: Broker Experience & Rating

HFTrading Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 FXTB test 2021: broker experiences & rating

FXTB test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Trading 212 test 2021: broker experiences & rating

Trading 212 test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 QTrade Test 2021: Broker Experience & Rating

QTrade Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Markets.com review 2021: broker experience & rating

Markets Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Admiral Markets Test 2021: Broker Experience & Rating

Admiral Markets Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 AvaTrade Test 2021: Broker Experience & Rating

AvaTrade Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 FxPro Test 2021: Broker Experience & Rating

FxPro Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 IG Test 2021: Broker Experience & Rating

IG Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 XM Test 2021: Broker Experience & Rating

XM Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 GKFX test 2021: broker experiences & rating

GKFX in the test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Flatex Test 2021: Broker Experience & Rating

Flatex test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 BDSwiss Test 2021: Broker experiences & evaluation

BDSwiss Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 OInvest Test 2021: Broker Experience & Rating

OInvest test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Ubrokers test 2021: broker experiences & rating

Ubrokers Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 XTB test 2021: broker experiences & rating

XTB test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Libertex test 2021: broker experiences & rating

Libertex test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 IQ Option Test 2021: Broker Experience & Rating

IQ Option Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 FXCM Test 2021: Broker Experience & Rating

FXCM test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Investous Test 2021: Broker Experience & Rating

Investous test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 ETFinance.eu test 2021: broker experience & rating

ETFinance.eu test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 T1 Markets Test 2021: Broker Experience & Rating

T1 Markets Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 ROInvesting Test 2021: Broker Experience & Rating

ROInvesting Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Global.TradeATF Test 2021: Broker Experience & Rating

Gloabl.TradeATF test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 101Investing Test 2021: Broker Experience & Rating

101Investing Test 2021: experience & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 ExCentral Test 2021: Broker Experience & Rating

ExCentral Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Stormgain Test 2021: comparison & experience with the Exchange

Stormgain Test 2021: Comparison & experiences with the Exchange 🥇 What are the conditions? 🥇 Our rating 🥇

Learn more...
🔥 Ternion Test 2021: Broker Experience & Rating

Ternion test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 PrimeXBT test 2021: broker experiences & rating

PrimeXBT test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Bitmex test 2021: Exchange experiences & rating

Bitmex test 2021: experiences & evaluation of the Exchange 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
Binance versus KuCoin ▷ which exchange is better? Our experiences, fees & more

What you need to know about the two crypto exchanges! BC1 explains where the differences between Binance and KuCoin lie and which exchange is best for you! ✓ Our experiences ✓ Click here for more information!

Learn more...
Binance for the iPhone ▷ Everything about the Exchange iOS app!

What you need to know about the Binance app for the iPhone! BC1 explains how to use and set up the iOS app from Germany. ✓ Review test ✓ Click here for more information!

Learn more...
Binance App Test & Experience ▷ Everything about the desktop app!

What you need to know about the Binance desktop app! BC1 explains how to use the app from Germany and what the advantages are. ✓ Review test ✓ Click here for more information!

Learn more...
🔥 Changelly Test 2021: Exchange Experience & Rating

Changelly Test 2021: Experience & Evaluation of the Exchange 🥇 Scam or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 HitBTC test 2021: Exchange experiences & rating

HitBTC Test 2021: Experience & Evaluation of the Exchange 🥇 Scam or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Bittrex Test 2021: Exchange experiences & rating

Bittrex test 2021: experiences & evaluation of the Exchange 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 YoBit test 2021: Exchange experiences & rating

YoBit Test 2021: Experience & Evaluation of the Exchange 🥇 Scam or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 The 5 Best Coinbase Alternatives ▷ Exchange Comparison

The 5 best Coinbase alternatives 2021! 🥇 Best Coinbase alternative in Germany, Austria & Switzerland Trade cryptocurrencies now with the best conditions! 🥇

Learn more...
🔥 Binance Test 2021: Exchange experiences & rating

Binance Test 2021: Experience & Evaluation of the Exchange 🥇 Scam or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Coinbase test 2021: our experiences & evaluation

Coinbase test 2021: experiences & evaluation of the exchange 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Plus500 test 2021: our experiences & evaluation

Plus500 test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 eToro test 2021: our experiences & evaluation

eToro Test 2021: experiences & evaluation of the broker 🥇 fraud or serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 Kraken Test 2021: Exchange Experience & Rating

Kraken Test 2021: Experience & Evaluation of the Exchange 🥇 Scam or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...
🔥 KuCoin Test 2021: Exchange experiences & rating

KuCoin Test 2021: Experience & Evaluation of the Exchange 🥇 Fraud or Serious? 🥇 Our experience with the costs and conditions🥇

Learn more...