HitBTC Comprehensive Review 2022: Pros, Cons and Key Features

HitBTC is a relatively old and seasoned crypto exchange that has been a part of this industry for almost a decade. Launched in 2013, the platform now stands as a go-to place for trading cryptos with unmatched ease. In addition, HitBTC supports many cryptocurrencies, ensuring you never fall short of choices. 

HitBTC also provides traders with an extensive range of APIs to enhance their crypto trading experience. While the exchange offers services to many countries, its operations mainly focus on Europe. The platform also supports over 800 trading pairs to ensure you make the most of every opportunity that comes your way. 

The best thing about HitBTC is that the platform was designed with all sorts of traders in mind. This allows traders to choose features and modes that best suit their trading requirements. In addition, the user-friendly interface and the platform’s simplicity eliminate all the hassle of your crypto trading. 

HitBTC also takes numerous security measures that make your crypto trading a safe and secure experience. This is a crucial area you need to focus on because the number of cybercrimes in the crypto industry is only increasing. Also, HitBTC has never been hacked, so that’s always a plus on HitBTC’s end.  

Pros and Cons of HitBTC

HitBTC At A Glance

HitBTC: Company Overview 

HitBTC is a relatively old and seasoned crypto exchange that has been a part of this industry for almost a decade. Launched in 2013, the platform now stands as a go-to place for trading cryptos with unmatched ease. HitBTC supports a wide range of cryptocurrencies, ensuring you never fall short of choices. 

HitBTC also provides traders with an extensive range of APIs designed to enhance their crypto trading experience. While the exchange offers services to many countries, its operations mainly focus on Europe. The platform also supports over 800 trading pairs to ensure you make the most of every opportunity that comes your way. 

The best thing about HitBTC is that the platform was designed with all sorts of traders in mind. This gives traders the flexibility to choose features and modes that best suit their trading requirements. The user-friendly interface and the platform’s simplicity eliminate all the hassle from your crypto trading. 

HitBTC also takes numerous security measures that make your crypto trading a safe and secure experience. This is a very important area you need to focus on because the number of cybercrimes in the crypto industry is only increasing. Also, HitBTC has never been hacked by anyone, so that’s always a plus on HitBTC’s end.     

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Cryptocurrencies Supported by HitBTC

HitBTC supports an extensive range of cryptocurrencies giving traders a huge range of choices. The platform currently supports over 300 different cryptos and 800 different trading pairs. With HitBTC, you get the opportunity to diversify your crypto trading portfolio and reduce risk to enjoy better returns. Some of the best-known cryptos you can find on HitBTC include:

Besides, the platform is also open to the idea of accepting new crypto projects with great potential. This way, investors and traders who want to get hold of new and better crypto tokens are at a chance to make the most of their journey with HitBTC.

Key Features of HitBTC

HitBTC has put a lot of thought into making the platform ideally suited for all sorts of crypto traders. The platform has many features and functionalities designed to simplify crypto trading for everyone by eliminating all the complexities of the processes. Of all these features, a couple stands out and makes what it is. So let’s check out some of the critical features HitBTC offers.   

HitBTC Rebate

It is no secret that crypto exchanges generally favor makers as they add more liquidity to the market. Yet you can barely find any crypto exchange that typically rewards its makers for adding more liquidity. Some platforms might offer relaxation on trading fees, but that’s about it. 

But besides relaxation on trading fees, HitBTC rewards its makers with a rebate of 0.1%. So the more liquidity the maker adds to the market, the better are their chances of better rebates to make their crypto trading even more profitable. This consequently also encourages more people to add liquidity, benefiting almost everyone.

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Access to Real-Time Information

Crypto trading means dealing with a very volatile market driven by numerous factors. An average trader has no control over any of these factors. But the best the trader can do is keep up with all the information and make the most of every opportunity. This is much easier said than done because access to real-time information can be challenging. 

Given this concern, HitBTC provides its traders with a wide range of indicators that give them real-time information about the market. This makes it much easier for traders to make the right decision at the right time. You can access news, charts, exchange rates, transaction history, and much more with HitBTC.        

HitBTC Mobile App

Technological evolution is a trait that best defines the citizens of the 21st century. Nowadays, mobility is a big deal for people, who want the same, even trading their cryptos. Using HitBTC for trading means you need not sit on your desk for an entire day. Instead, you can use the HitBTC mobile app.

The HitBTC mobile app is available for Android and iOS devices, so convenience is never an issue with this app. Besides that, the platform has a highly interactive interface that makes it easy to trade cryptos without complications. This gives you the flexibility to trade cryptos even when on the go. 

Extensive Crypto Selection 

There are over thousands of cryptocurrencies currently available in the market. As a result, it becomes very challenging to determine when and if which crypto will perform better and which not. The best thing to do in these scenarios is to diversify your portfolio and leverage every little benefit possible. 

This becomes much more challenging with exchanges that offer limited crypto selection. But that is not the case with HitBTC, as the platform supports more than 300 different cryptos. This gives you the upper hand in mitigating risks and amplifying returns whenever possible. In addition, HitBTC also gives you access to more than 800 trading pairs ensuring you never fall short of choices.         

Additional Features of HitBTC

Baring the above-mentioned key features of HitBTC, the platform has much more to offer to enhance your crypto trading experience. Moreover, all these features and functionalities are designed with the trader’s convenience, ensuring they serve you much more effectively. So continue reading as we explore some of the additional features HitBTC offers.

1. Low Fees: Trading fees are a primary concern for most crypto traders as it often eats into a significant share of their returns. This should not be a concern with HitBTC as the platform’s trading fees are among the most competitive in the market. This is one of the primary reasons why many crypto traders choose HitBTC over other exchanges. 
2. Amazing Trading View: HitBTC offers its traders an amazing view, making crypto trading much more manageable. The platform has everything: order history, order book, or details about the chosen crypto. This further aids in enhancing the overall trading experience helping one make the right decision at the right time. 
3. Demo Account: Crypto trading is anything but easy, so a little practice before real-life trading can go a long way. HitBTC provides its users with a demo account to get experience before staking their money. This also gives traders a clearer idea of how the platform works.
4. Security: The safety and security of traders and their assets have always been important for HitBTC. The platform takes numerous measures to protect traders’ interests and assets. This creates a safe and secure environment for everyone helping them trade cryptos with peace of mind. 
5. Automated Logouts: Another unique offering from HitBTC is the automated logout functionality. This feature allows traders to set up a specific window of time where the platform can automatically log out from your account. You can set the time frame based on your particular requirement, be it one day or ten days.   

Fee Structure of HitBTC

HitBTC’s fee structure is among the most competitive in the market. The fees for unverified traders are fixed at 0.2% for takers and 0.1% for makers. But things are a bit more complex with verified traders where two factors play a crucial role. 

The primary factor is the trader’s 30-day trading volume converted into Bitcoin, while the other is the average token balance over the past 30-days based on the daily balance at 00:00 UTC.

Let’s better understand this fee structure with the table that follows. 

By the time a trader reaches the eight-tier trading more than 50000 BTC every month, they can also avail of a rebate of 0.1% on every completed trade. 

When trading your crypto assets at 0.07%, you need not worry about any deposit fees. Traders can seamlessly fund their accounts with cryptos without any charges. But unfortunately, you cannot make any deposits using fiat currencies on the platform. 

However, the withdrawal fees on the platform are predetermined. This fee does not change regardless of the number of cryptos you withdraw from the platform. For example, if you withdraw one BTC or a hundred BTCs, the withdrawal fees will be 0.00085 BTC. So make sure to withdraw funds in more significant amounts to save on withdrawal fees.     

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How Secure is HitBTC?

Security is one of the most important aspects of any reliable and trustworthy crypto exchange. HitBTC exchange has many such security features designed to ensure the safety and security of traders at all times. So let’s check out some of these features and understand how they can benefit you as traders on the platform. 

1. Two-Factor Authentication (2FA): Starting with one of the most prevalent security measures available in almost every crypto trading platform. HitBTC also offers the 2FA security measure to its traders. This mechanism requires one to enter a code with the password every time they withdraw funds or log into the account. 
2. Cold Storage: Cybercrimes and cases of hackers sweeping crypto wallets clean is not anything new. Thus, HitBTC stores most of its digital assets in cold storage without access to the internet. This prevents traders from gaining any access to the crypto assets. 
3. Whitelisting Withdrawal Addresses: One of the unique security features in HitBTC is the whitelisting of withdrawal addresses. This feature allows traders to whitelist the addresses to which they can withdraw the funds. This way, even if your security is compromised, you remain protected.  
4. Notifications About IP Logins: The other security feature you can benefit from with HitBTC is the notification about new IP logins. This means in case someone tries to log into your account from an unknown or unfamiliar IP address, you will be immediately notified via email. Hence blocking your account before things go wrong becomes much easier this way.       

Account Opening With HitBTC

Getting started with HitBTC is as easy as it can get. The platform only requires you to follow a few steps, and you will be ready to trade on the platform in no time. So continue reading to learn more about these steps and better understand them. 

Step 1: Visit the HitBTC homepage or mobile app

Step 2: Click on the “Sign Up” button.

Step 3: Provide necessary basic details 

Step 4: Verify your email and mobile number with the security code

Step 5: Provide further details to verify your account further and reap the benefits that come with the verification

Once you’ve followed the account, you’re ready with your HitBTC trading account. Start depositing funds into your account and trade your cryptos like a pro.  

Customer Satisfaction

Customer satisfaction is essential for HitBTC, given the increasing competition in the crypto world. The platform takes several such measures that help them ensure unmatched customer satisfaction. In addition, low trading fees benefit every platform trader, ensuring they remain satisfied. 

Besides that, the HitBTC mobile app makes it much easier and more convenient for traders to trade their cryptos even on the go. The usability and navigability of both the website and mobile app ensure a seamless trading experience. This easy-to-use interface also allows traders to eliminate all the complications from their trading. 

The security features of HitBTC are also ideally designed to ensure traders have a safe and secure platform to trade their cryptos. Combining all these offerings, it is safe to say that HitBTC leaves no stones unturned when delivering unmatched customer satisfaction with ease.    

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HitBTC Vs. Competition 

HitBTC is one of the leading crypto exchanges currently available in the market. But that does not mean that it’s the only platform where one can trade their cryptos. In reality, numerous crypto trading platforms strive to offer their traders the best. 

To make an informed and appropriate decision, a crypto trader, must know what other platforms offer. So let’s compare HitBTC with one of its leading competitors called Coinbase. 

HitBTC Vs. Coinbase     

Both HitBTC and Coinbase are reliable crypto trading platforms for beginners. Both the platforms have a similar working model and allow their users to make the most of their trading experiences with the seamless functionalities over the platform.

However, while there are certain similarities, the platforms are also unique in certain instances. Here’s an example of the difference between the two platforms: 

Looking at this review, it’s evident that HitBTC takes up on Coinbase, primarily on the fee structure that the platform has. Besides, Coinbase also falls short of the supported crypto tokens and withdrawal fees, making HitBTC a clear winner! 

Final Verdict

As you might have realized by now, HitBTC is a great platform for trading your cryptos and generating great returns. But as with everything else, even HitBTC has some strong points and shortcomings that make the platform what it is. Therefore, you must clearly understand these shortcomings and vital issues to make an informed decision when choosing HitBTC as your preferred platform. So continue reading to get a better understanding. 

Strong Points of HitBTC

1. Wide Selection of Cryptocurrencies: The best thing about trading on HitBTC is the platform offers an extensive selection of cryptocurrencies. At present, HitBTC supports more than 300 different cryptos and over 800 tradings. These figures are certainly much higher than anyone could ask for. 
2. Low Trading Fees: HitBTC has long earned and retained the reputation for charging the most competitive trading fees from traders. The platform only charges 0.2% as taker fees and 0.1% as maker fees. This is much lower than most other exchanges have to offer. 
3. Uncompromised Security: Given the significance of security in crypto trading, HitBTC takes many measures to ensure unmatched security and safety for traders. Standard security measures include two-factor authentication (2FA) and cold storage facilities. But besides that, some distinct measures include whitelisting withdrawal addresses and notification on new IP login. 
4. User-Friendly Interface: The other great thing about trading your cryptos on HitBTC is the platform offers an amazing interface. Whether the official website of HitBTC or the mobile application, both come with unique user interfaces. This makes it much easier for traders to navigate the platform with minimal hassle.        

Shortcomings of HitBTC

1. Not Available For US Residents: It is no secret that crypto regulations in the US are much more stringent than in most other countries. These complications make it challenging for HitBTC to offer its services to US residents. One of such well-known complications is the KYC mandate in the US. 
2. Mediocre Customer Support: While HitBTC has almost everything an average crypto trader could ask for, the platform fails to offer effective customer support. This poses many challenges, especially for beginners who might come across an issue and fail to receive any support from anyone. So this is an area where some enhancements could go a long way for traders.

Looking at this insightful review of the HitBTC exchange platform, it’s evident that the platform has done a commendable job at making the most of its user’s trading experiences. Besides, the advanced features and functionalities of HitBTC make it an exchange worth the experience. However, similar to the great functionalities, let’s not overlook the mediocre customer support that the users have previously experienced. 

Therefore, if you’re a user who wants strong customer support from their exchange, HitBTC is not your platform. In this situation, you might want to sign up with a different platform. But when you do, ensure that you have read all the different terms and conditions they offer. All the best!  

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