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Bank wire, Credit card (VISA/Mastercard), Bitcoin, Litecoin, Ethereum
Bitcoin, Ethereum, Ethereum Classic, Litecoin
British Pound, Euro, United States Dollar
Credit card (VISA/Mastercard), Bank wire, Bitcoin, Litecoin, Ethereum
HitBTC is a European-based (Estonia) exchange founded by some brilliant key-people; Brooks A. Bergreen (HIT Technologies Inc., CEO), Michael Liggett CPA (HIT Technologies Inc., CFO) and Dave Merrill (Founder - HitBTC based in Estonia). The Company earned the reputation as the 5th largest by 24 hours trade volume; it offers more than 150 trading pairs, including several newly added ICO tokens and futures. The platform has a reasonably high price in fees which apply charges for at most 0.10% - 0.20% for crypto-to-crypto trades while 1% - 2% for fiat-to-crypto trades, and it doesn’t require an account for basic crypto-to-crypto transactions. However, this Company has a history of hacks – just for the record. Also, one thing I love with this platform, they offered to the user’s a demo mode account – that was pretty helpful, where you can try out with their websites and features and try to feel an easy way of trading without losing anything!
Account Type Offered
Trading on HitBTC will vary on the levels of accounts that you would be able to get verified with HitBTC, each of these levels have their advantages – the higher the level, the higher the trading volume.
- The first level is “General Account,” where the user can deposit crypto-currency for free and with a daily withdrawal limit is EUR 5,000 worth of cryptocurrency, also FIAT transaction is not available for this general verification tier.
- The second tier is “Verified Account,” where the user is entitled to get a free deposit of crypto-currency and a maximum withdrawal of EUR 25,000 worth of cryptocurrency per day. FIAT limit would have $2,000 (USD, EUR) per week and $10,000 (USD, EUR) in a month.
- The third tier is “Qualified Account,” where authorized to withdraw more than $25,000 worth of crypto-currency per day and FIAT would have $10,000 (USD, EUR) per week and $50,000 (USD, EUR) per month for both depositing and withdrawal funds. Of course, No fees applied any crypto-currency deposits.
Order Types Offered
HitBTC offers this advanced “Order tools” for selling or buying cryptocurrencies, which will allow you to choose your choice of order type to get the best available price when placing an order at the market. The fees will add up with the total amount with the estimated price since it will vary in real-time.
- Limit Order: This instrument will allow you to execute a trade at a specific price you prefer. This means that Limit Order to Buy are intended for the limited orders, while Limit Order to Sell are for a higher amount to place. This instrument is ideal if you know the actual market price at which you’re willing to place an order – The actual market price also appears in your order book.
- Stop Order: In this instrument, any place orders that have been set at specific prices will automatically execute once the actual market price matches the order prices. These orders will only show up in the order book once they are activated, and it doesn’t require reserve funds.
- Stop-Limit Order: Finally, for the third instrument, it will allow you to make a “Limit Order” or the first option of these order types at a specific price. This means that, once the actual market price matches the stop price you’ve set up, your stop-limit-order turns into a limit-order. To make it simple, this type of order is the combination of the first two instruments where you are allowed to set up a specific stop-price and limit-price. Also, this order type will require no reserve funds, and it doesn't show up in the order book not until it's activated.
Making Deposit at HitBTC are made it simpler. First, you need to get your verified and active crypto-wallet-address. At your HitBTC home page, you’ll see a green “Deposit” button, you can simply click on that and choose the row corresponding to your preferred currency to deposit and click “Fund” button. Once done, you will have your very own crypto-wallet-address, it’s both combinations of a string of numbers, letters, and QR code.
Bear this in mind, every asset in a particular account has its own unique address. It means that a certain currency will always have additional identifier fields when you initiate your deposit e.g. a message for XEM or XRP destination tag. Because, if you forget to do so, you’ll need to get in touch with the HitBTC support team, and the transaction you made will be pending. The fund will be available soon after the concern will be addressed and fixed.
To withdraw your coins from your HitBTC account, go to your “Account” tab, from there, you’ll notice a “Withdraw” column that contains several available currencies corresponding one button each. To make a successful transaction, make sure to withdraw from your main account, otherwise, transferring your assets from your trading account must be done. Then, proceed to withdraw your assets by simply clicking the “Withdraw” button.
Next, you need to choose your preferred amount to withdraw and paste it into your receiving address. Remember that certain digital currency will require more additional information to smoothly complete the transaction, always practice to double-check the address and take extra care since you can’t reverse the transaction once submitted. Also, there’s no minimum withdrawal amount, as long it is more than the network fee value.
Once you’re done click the “Withdraw” button, provide your authentication code. Let’s assumed that the two-factor authentication was enabled for withdrawals – in this case, you will need to go through your email address to verify the security measures from [email protected] that is labeled “Withdraw Request.” Once confirmed the transaction via your email, you can check your HitBTC account page and view the withdrawal in the “Latest Transactions” or the recent reports from your “Payment History.” During processing, you’ll notice three dots, it will turn green once the transaction completed.
HitBTC is known as one of the well-established crypto exchange that you might consider, the fact that it has been part of the cryptocurrency space almost since the beginning of blockchain technology. There are also numbers of useful features such as trading tools, account types, plus a user-friendly interface with high volume and liquidity trading-platform, and accessible API.
But, there are several red-flags reported such “slow withdrawal time, the verification process is sometimes delayed, and unwieldy scanning & sending copies of personal documents. Even there customer service gained negative feedback from their users due to extremely long waiting times to address and fix problems such as withdrawals and etc.