HitBTC

HitBTC Review

HitBTC was founded in early 2013 in the UK. The exchange offers USD, GBP, EUR to BTC, as well as a collection of the most common crypto to crypto trading pairs. The volume has been rising steadily, which provides decent liquidity and a narrowing bid-ask spread.

Security is good thanks to its two-factor authentication and with a clean track record.

The trading fees vary, all depending on whether the order is executed immediately –  i.e., adding liquidity or removing liquidity – if a trade is executed immediately then the fee is 0.1%, and if it is placed on the order book, they receive a rebate.

Deposits and withdrawals are subject to the standard laborious AML and KYC requirements for proof of identity etc. Rates for deposits that are charged by the exchange are 0% for SEPA Euro transfers, 9 USD for Wire Transfers, and £5 for UK bank transfers. The withdrawal fees are similar, except that the SEPA surcharge is a flat rate of 0.9 EUR.

How HitBTC Works

HitBTC is a global trading platform that has multi-currency support operating since 2013. Besides for trading cryptocurrencies, ICOs, and tokens, the exchange provides proper markets for fiat trading, which includes EUR and USD trading pairs.

HitBTC is where both beginners and trading professionals can trade with ease. The platform was built on top of modern technologies for providing service that is fast, secure, and reliable.

Customers appreciate the fast order execution, convenient ways for adding deposits and withdrawals, and competitive client service. Beginners on the platform will like the intuitive, user-friendly interface and the easy-to-start platform.

The primary focus is the safety of the client fund. There are daily backups of everything, which are distributed all over the world servers. The 2-step authentication is based on your mobile device. There are many more features for your security.

Security at HitBTC

Users have a variety of security options, including an automatic logout and two-factor identification for login, withdrawal, and access to the account settings. Also, the exchange keeps a record of login history that the users can see and it sends email notifications when the accounts are accessed from unknown IP addresses.

HitBTC offers cold storage wallets for select cryptocurrencies. This gives users the option to make use of offline storage for their funds. However, it is considered less secure to use a third party service for cold storage since is it hard to evaluate possible vulnerabilities that are related to entrusting a third-party with more-or-less complete control over your assets.

HitBTC Exchange Rate and Fees

It is free to create a general account and to get started at HitBTC. There aren’t any fees or limited for depositing cryptocurrencies on HitBTC, but the users who deposit fiat currency (either USD or EUR) will be charged a fee, all depending on the deposit size and the currency used. There are relatively low fees that are charged by the platform on trades. Immediate transactions incur an execution fee of 0.1%, while non-immediate transactions are granted a 0.01% rebate.

It is free to withdraw cryptocurrencies from HitBTC, minus the typical network fee for the respective currency. Yet, withdrawing fiat from the platform comes with some fees, all depending on the amount and type of currency.

HitBTC Special Features

There are a number of features for professional traders:

• Demo trading
• Core matching engine
• High liquidity
• Low fees
• High-speed software
• No limits for funding/withdrawal of cryptocurrency
• High level of security
• Large selection of tools
• The most professional API (4 advanced protocol types)

Ease of Use

Thanks to the intuitive user-interface, HitBTC is relatively easy to exchange for beginner traders to get started with. It also offers a robust toolset designed to meet the needs of advanced traders.

HitBTC is one of the few exchanges that support direct fiat/cryptocurrency trading. Although, the users need to go through quite a stringent verification process for taking advantage of this feature.

Buy/Sell at HitBTC

To buy bitcoin with a fiat currency (USD or EUR) through HitBTC, you’ll need to verify your account. To sign up for a general account at HitBTC, you can visit the site and register by using an email address and password. You will likely need to confirm your email address before you activate your account. With a general account, you can deposit, withdraw, and trade cryptocurrencies without any additional steps. To fund your account with fiat currency, you’ll need to go through the verification process.

HitBTC Trading

You can begin trading cryptocurrencies immediately, once you have created an account. No account verification is required for trading bitcoin. Ether, or any other digital currency that is supported by HitBTC.

Deposit: If you already have some bitcoin or another supported cryptocurrency, it is simple to deposit funds into the relevant wallet on HitBTC by clicking the “Deposit” button.

Exchange: Once the funds are in your account, click on the “Exchange” tab to begin trading. In this section, you can buy and sell currencies, view orders and charts, and chat with other traders via the “trollbox.”

Order Types: Some of the users may want to take advantage of the stop and limit options and the additional order types when making trades on the exchange. HitBTC supports various order types, including: good-till-canceled, good-til-time/day, day, market, immediate-or-cancel, fill-or-kill.

Bottom Line

HitBTC is a popular cryptocurrency exchange with fascinating features that separates it from the competition. Some of HitBTC’s most popular features of the exchange include the support for the FIX protocol and the ability for opening a demo trading account.

These features, together with a robot-friendly API, help make HitBTC a popular option among trading bot developers and with beginners.

To see how HitBTC ranks against other industry-leading crypto exchanges and cryptocurrency trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.