Pros
Cons
Quick Summary
| Headquarters Location | Hong Kong |
|---|---|
| Fiat Currencies Supported (through third party apps) | USD, AUD, GBP, CAD, EUR, NZD + 40 others |
| Total Supported Cryptocurrencies | 336+ |
| Trading Fees | 0.06% - 0.25% |
| Deposit Methods | Cryptocurrency, Apple Pay, MoonPay, Mercuryo, Banxa |
| Support | Twitter, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Welcome to our comprehensive overview of HitBTC, a well-established cryptocurrency exchange platform with a strong presence in the crypto trading landscape. Let’s dive into the various facets of HitBTC, exploring everything from its inception to its trading experience and customer support.
Beyond what has already been shared, HitBTC’s role in the landscape of cryptocurrency exchanges is multifaceted and dynamic. The platform has evolved to meet the challenges of a fast-paced market, consistently innovating to provide functionalities that stay ahead of the curve.
Its adaptability and responsiveness to user feedback have been instrumental in its growth and the maintenance of its user base.
About HitBTC
HitBTC is a cryptocurrency exchange that has carved out a name for itself since its inception. Originating in Hong Kong, this platform has become a go-to destination for traders globally.
Over the years, HitBTC has expanded its offerings and consistently updates its technology to cater to the evolving needs of the crypto community.
Since its inception, HitBTC has navigated through the ebbs and flows of the cryptocurrency market, often influenced by regulatory shifts, technological advancements, and changing trader demographics. Its journey is marked by strategic partnerships and expansion into new markets, reflecting an ability to adapt to the ever-changing tapestry of digital finance.
HitBTC has a number of active social profiles including Twitter, LinkedIn, Reddit and Telegram.
HitBTC has a mobile app on both the Apple App Store and Google Play.
HitBTC Supported Cryptocurrencies
HitBTC supports trading on over 336 cryptocurrencies on their platform. This exchange currently supports 25 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies HitBTC supports
Trading Experience
HitBTC offers a trading experience that is both intuitive and advanced, catering to the needs of different traders. The platform features a user-friendly interface with a variety of tools and a robust API that allows for seamless integration with trading bots and other third-party services.
The execution engine is designed for reliability, ensuring traders can execute their strategies efficiently.
The trading experience on HitBTC is augmented by a suite of advanced tools designed to cater to the varied requirements of traders. The platform’s infrastructure supports high-frequency trading activities, providing the stability and speed necessary for high-stakes trading operations.
This commitment to performance and reliability is key to the satisfaction of its users.
HitBTC Fees
The fee model employed by HitBTC is designed with a “maker-taker” system that encourages liquidity on the platform. While fees are not necessarily uniform across all activities, they typically follow a tiered structure based on trading volumes, allowing traders flexibility and potential cost savings as their trading activity increases.
HitBTC has constructed a fee landscape that benefits participants by incentivising market liquidity through its “maker-taker” fee schedule. This incentivisation model is designed to reward those who contribute to market depth, thus attracting a diverse range of participants and fostering a more vibrant trading ecosystem.
| Type | Fee |
|---|---|
| Trading Fee | 0.06% - 0.25% |
HitBTC supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0008 BTC. The average across all other exchanges that we've reviewed is 0.000380 BTC. This means HitBTC charges above the industry average by 110.43%. This is worth noting because it likely means they are also charging higher fees and spreads across all cryptocurrencies on their platform.
HitBTC has a maker/taker fee schedule which you can see below.
| Level | 30-days Trading Volume |
Spot/Margin Maker Fee |
Spot/Margin Taker Fee |
Futures Maker Fee |
Futures Taker Fee |
|---|---|---|---|---|---|
|
default
|
— | 0.1% | 0.25% | 0.02% | 0.07% |
|
1
|
≥ 0 BTC | 0.09% | 0.09% | 0.02% | 0.07% |
|
2
|
≥ 10 BTC | 0.07% | 0.08% | 0.02% | 0.07% |
|
3
|
≥ 100 BTC | 0.06% | 0.07% | 0.02% | 0.06% |
|
4
|
≥ 500 BTC | 0.05% | 0.07% | 0.02% | 0.06% |
|
5
|
≥ 1,000 BTC | 0.03% | 0.06% | 0.01% | 0.05% |
|
6
|
≥ 5,000 BTC | 0.02% | 0.06% | 0.01% | 0.05% |
|
7
|
≥ 10,000 BTC | 0.01% | 0.05% | 0% | 0.05% |
|
8
|
≥ 20,000 BTC | 0% | 0.04% | 0% | 0.05% |
|
9
|
≥ 50,000 BTC | -0.01% | 0.03% | 0% | 0.05% |
|
10
|
≥ 100,000 BTC | -0.01% | 0.02% | -0.01% | 0.04% |
Security - Is HitBTC Safe?
Security is a paramount consideration at HitBTC, with multiple layers of protection implemented. These include two-factor authentication, advanced encryption technology, and cold storage facilities for digital assets.
The exchange also adheres to strict regulatory guidelines, which underpin its commitment to providing a secure trading space for its users.
Diving deeper into HitBTC’s security protocols reveals a comprehensive approach that extends beyond the basics. A combination of cutting-edge security practices, including sophisticated monitoring systems and regular audits, helps to maintain the integrity of the platform.
HitBTC’s commitment to security is evidenced by its proactive stance in anticipating and countering emerging cyber threats.
HitBTC Customer Support
Customer support on HitBTC is accessible through multiple channels, including an online support form and direct email address. While there have been mixed reviews regarding response times, the exchange makes an effort to address queries and resolve issues, ensuring users have support when needed.
Enhancing customer support, HitBTC has developed a repository of resources aimed at empowering users with the information needed to resolve common issues independently. This approach not only streamlines the problem-solving process but also reflects a user-centric philosophy that places a premium on trader education and autonomy.
HitBTC Support Channels
How to Sign Up on HitBTC
- Create Account - Visit the HitBTC website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the methods listed below. Note that this exchange only supports depositing fiat currencies through third party apps it supports.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
HitBTC Alternatives
Binance
Total Supported Cryptocurrencies
391+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
282+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
333+
Trading Fees
-0.005% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
Reflecting on HitBTC, it becomes clear that this cryptocurrency exchange has a variety of features that cater to a diverse user base, from novice enthusiasts to seasoned traders. With a focus on providing a cutting-edge trading experience, HitBTC’s platform is geared towards those seeking a robust and dynamic trading environment.
The cryptocurrency exchange industry is an ever-evolving space, with new technologies and regulatory changes continually reshaping the way digital assets are traded. Crypto exchanges are at the forefront of this transformation, playing a pivotal role in the integration of blockchain technology into broader financial systems.
The future may see a greater emphasis on interoperability and regulatory compliance, as these platforms continue to bridge traditional finance with the emerging digital economy.
HitBTC FAQs
HitBTC is a cryptocurrency exchange that was launched in 2013. As for its location, HitBTC has been somewhat secretive about its headquarters, and there has been some speculation about where it is based.
It’s often considered to be operating by Hit Techs Limited, with certain reports suggesting a location in Hong Kong. However, due to the lack of transparent information, the exact location of HitBTC’s operations can be somewhat unclear.
Yes, you can withdraw money from HitBTC. To perform a withdrawal, you typically need to go to your account’s withdrawal section, select the cryptocurrency or fiat currency you wish to withdraw, enter the address of your external wallet or bank account for fiat, specify the amount, and confirm the transaction.
It’s important to note that withdrawals are subject to fees and may require completion of KYC (Know Your Customer) procedures.
HitBTC exchange fees vary depending on the type of transaction and the user’s tier status within the exchange’s tier system, which is based on trading volume. Generally, HitBTC employs a maker-taker fee model where makers, who provide liquidity to the market, are usually charged lower fees compared to takers, who take liquidity from the market.
The fees can range from 0.07% for makers to 0.2% for takers. It’s advisable to check the latest fee structure on HitBTC’s website since fees can change.
To transfer money from HitBTC, you need to log in to your account, navigate to the ‘Accounts’ tab, and click on the ‘Withdraw’ button next to the currency you wish to transfer. Then, enter the destination address, the amount to withdraw, and any other required information.
After confirming the details and completing any security verification steps (such as 2FA), your transfer will be processed. Remember that transferring funds will incur a network fee that varies depending on the cryptocurrency and current network conditions.
HitBTC does have a KYC process, but whether it’s mandatory depends on the user’s level of activity and the type of transactions they are conducting. For basic operations and withdrawals, HitBTC may not require KYC verification, allowing users to trade anonymously to a certain extent.
However, for higher withdrawal limits and certain other functions, completing the KYC process may be required.
HitBTC was established in 2013, presenting itself as an advanced Bitcoin exchange. Since its beginning, it has expanded to offer a wide range of cryptocurrencies for trading.
The platform has faced various challenges and controversies regarding its location and transparency, but it has managed to maintain its place as a well-known player in the cryptocurrency exchange market. Throughout its history, HitBTC has been known for providing a multi-currency exchange platform with a focus on advanced traders.
HitBTC is a cryptocurrency exchange that provides a platform for buying, selling, and trading a wide array of digital assets. It is known for offering a comprehensive trading interface, a range of cryptocurrencies, and features suited for both novice and experienced traders.
While it provides services globally, the availability of certain features may vary by region.
HitBTC services are globally accessible; however, due to regulatory challenges and restrictions in the United States, it may provide limited services to US residents, or may not be available at all. Users in the US should verify the availability of HitBTC services in their region and ensure compliance with local regulations before attempting to use the exchange.
HitBTC User Reviews
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Methodology
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About The Authors
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