Choosing a suitable cryptocurrency exchange is harder now as so many exchanges exist. 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.
Official Website | https://hitbtc.com/ |
Founding Year | 2013 |
Head Quarters | Chile |
Trading Volume | $441 Million |
Trading Options | Spot, Margin, Futures, OTC |
Trading fees | Maker fees – 0.1% & Taker fees – 0.25% |
Total listed Coins | 450+ |
Trading Pairs | 960+ |
Supported fiat | Does not support Fiat currencies |
Withdraw options | Supports ERC, TRC, BEP 2, BEP 20 |
Bank withdrawal Supported | No |
Withdraw fees | Network fee for the cryptocurrency |
Deposit methods | Can deposit on crypto tokens and coins |
Restricted countries | 7+ |
Native Token | HIT (HitBTC Token) |
Mobile app | Available on Google & Apple App Store |
Support Channel | https://support.hitbtc.com/en/support/home |
Coinpedia rating | 7/10 |
Security rating | 7/10 |
User Interface | Easy to use |
Ease to set up | Very Easy |
App store Rating | 4.1 |
Play store Rating | 3.8 |
Security | Secured |
Hacking attempts/Hacks | Minor security incidents reported |
KYC verification duration | 2 weeks Maximum |
Regulation & Compliance | Compliant |
Liquidity | Highly liquid |
Proof Of Reserve | Unavailable |
Hitbtc is one of the oldest and fastest-growing cryptocurrency exchanges in the world. It was founded in 2013 by the Ullus Corporation in Hongkong. It is one of the largest Spot trading markets with more than 500 digital assets and 800+ trading pairs. It owns Hit Token (The HitBTC token) an ERC20 utility token created by HitBTC.
It offers Spot, margin, derivative and OTC trading with a maker fee of 0.10% & taker fee of 0.25%. The demo account for new users is definitely a good feature to try out the platform without any fear of losing an asset. Moreover, the exchange offers exclusive rebates to HIT owners and gives discounts for HIT trading pairs.
The exchange provides a demo account for new users to get used to the platform. With a demo account, users can trade without fear of losing tangible assets.
Hitbtc offers more than 500+ cryptocurrencies and 800+ trading pairs. It supports more than 47 fiat currencies on its platform. Some of the popular cryptocurrencies on the platform are:
Let us learn how to create an account on the Hitbtc exchange
Let us learn how to buy cryptocurrency from this exchange
Let us learn how to sell cryptocurrency on the Hitbtc exchange
Let us learn how to deposit cryptocurrency into this exchange
Let us learn how to withdraw cryptocurrency on the Hitbtc exchange
The exchange does not charge deposit fees for depositing cryptocurrencies. However, withdrawal fees vary according to the cryptocurrencies you want to withdraw.
The exchange follows a maker-taker model to determine the trading fees. Trading volume is taken into account for calculating trading fees. Note that for a beginner or a general trader, the maker fee is 0.1% and the taker fee is 0.25%.
Level | 30-days Trading Volume | Maker Fee | Taker Fee |
1 | ≥ 0 BTC | 0.09% | 0.09% |
2 | ≥ 10 BTC | 0.07% | 0.08% |
3 | ≥ 100 BTC | 0.06% | 0.07% |
4 | ≥ 500 BTC | 0.05% | 0.07% |
5 | ≥ 1,000 BTC | 0.03% | 0.06% |
6 | ≥ 5,000 BTC | 0.02% | 0.06% |
7 | ≥ 10,000 BTC | 0.01% | 0.05% |
8 | ≥ 20,000 BTC | 0% | 0.04% |
9 | ≥ 50,000 BTC | -0.01% | 0.03% |
10 | ≥ 100,000 BTC | -0.01% | 0.02% |
An additional discount is given if the user is holding HIT tokens. Note that the Taker fees cannot go below 0.02%
Trading Fee Discount | For Tier 1 and 2traders | For Tier 3 to 10 traders |
3 % | 500 | — |
5 % | 5,000 | 50,000 |
10 % | 50,000 | — |
15 % | 250,000 | 250,000 |
20 % | 500,000 | 500,000 |
25 % | 1,000,000 | — |
30 % | 4,000,000 | 1,000,000 |
35 % | 8,000,000 | 4,000,000 |
40 % | 16,000,000 | 8,000,000 |
45 % | — | 16,000,000 |
Futures Trading fees are fixed for all tiers at 0.02% for Maker Fees and 0.05% for Takers Fees.
Margin Trading – If a position is liquidated – either by reaching the liquidation price or by the trader, a Liquidation Fee in the amount of 0.5% of the position’s value is charged in the quote currency
Futures Trading – If a position is liquidated – either by reaching the liquidation price or by the trader, a Liquidation Fee in the amount of 0.5% of the position’s value is charged in the quote currency
It has a good mobile app which is available both on Google and Apple App store. It has more than 4-star ratings with good customer reviews. With the mobile app, you can keep track of your portfolio, the latest market trends and price movements, and many more.
The HitBTC exchange has a support webpage where users can find details regarding crypto fundamentals, trading, deposits/ withdrawals, fees, and levels, Hit Token, etc. They also have a chatbot in case you need a quick view of articles related to your query. You can also email them which will be replied to in 24 hours.
May 2023 – HitBTC is actively seeking to onboard new tokens and coins onto its platform. The exchange is eager to host innovative projects and invites interested teams to take the initial step by completing the application form provided.
The HitBTC exchange tells that it is one of the most advanced and secure cryptocurrency platforms in the world. It surely is one of the longest-standing platforms in the cryptocurrency industry.
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. The more HIT tokens you hold or use in pair trading, the more discounted the trading price.
It had an affiliate program that was launched in 2016 but it was stopped very soon due to technical problems. Currently, it has no referral/ affiliate programs.
This exchange is good for traders looking for a wider range of digital assets and lower trading fees. But you need to note that the company CEO and head employees remain invisible in the era of the internet. However, the security and transparency of this exchange are major concerns.
It has been hacked in 2021 where it lost nearly $1 million. There are several users claiming that their HitBTC was hacked but the company remains silent on this issue. There is no formal disclosure of company employees’ strengths and other details. This shows that the exchange is not so transparent.
In order to use the full features of the exchange you need to verify your account. There is a limit to buying, selling, and withdrawing if you are not having a verified account. However, if your account is verified you will get full access to all the features in the exchange and will have unlimited withdrawals, buying, and selling.
No, it is not available in the U.S.
It was hacked in 2021, where it lost around $1 million. The company did not respond to the attack. There are many users of HitBTC complaining that their money was stolen from their accounts. The company is silent on this issue and it seems suspicious to the majority of the users. For a cryptocurrency exchange, online reputation is very important. However, the company has a negative cloud around it in terms of its online reputation.
El Salvador’s pro-Bitcoin President Nayib Bukele has hinted at a possible visit to the White…
The crypto market's recent recovery faded on Friday as a sharp sell-off erased nearly all…
Amid the bearish market sentiment, a crypto whale found Ethereum (ETH) to be an ideal…
Sonic Labs has suddenly dropped its plan to launch a USD-backed algorithmic stablecoin, shifting its…
During the ongoing bearish market sentiment, Pepe (PEPE), the world’s third-largest meme coin, has lost…
The long-running legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) is…