HitBTC Review – Crypto Exchange

HitBTC Cryptocurrency Exchange Review

For an experienced cryptocurrency trader, HitBTC is a trusted platform. This site is more for trading than buying cryptocurrency. It is loaded with tables and graphs which can make it slightly confusing to look at. The way that it works is relatively straightforward, so that makes it easy to work with. It’s a secure exchange with a two-factor authentication necessary for all transactions. Users have the option of trading between a pair of currencies, and that means that they have a more significant opportunity for substantial gains. The who and the where of HitBTC are still a bit up on the air right now. Some users have also reported some issues withdrawing funds which lead to a bit of a reliability issue.

The Pros

  • Large range of cryptocurrency
  • Busy interface, but easy enough to use
  • Earn more with paired trading

The Cons

  • Not for first-timers
  • Slow or unresponsive support at times
  • Transparency and reliability problems

The Cost

To deposit in HitBTC is entirely free. There are charges when it comes time to take money out, however. They are generally flat fees, but they can be pretty high. Trading or buying currency is going to cost an exchange fee. Users will pay a percentage for the currency, and then another charge is added for a commission to HitBTC.

History

February 2014 was when HitBTC was opened up to the public. They specialize in the paired cryptocurrency exchange and are considered to be an advanced exchange in the category. There are several different kinds of cryptocurrency that can be exchanged including:

  • Bitcoin
  • Litecoin
  • Dogecoin
  • Monero
  • Dash
  • Ethereum
  • And USDT

It is one of the only interfaces that also allows users to transfer automatically with the use of bots.

Despite the positives, there have been complaints that customers haven’t been able to withdraw their money, and some are left wondering where the company is because the Hit Techs Ltd. business that it was formally known as from London broke up in 2017.

Safe and Secure

There is a two-factor authentication necessary for all transactions that can be set up by the user to ensure their money is kept safe. Under the “Settings” section on the menu, users can look to see who has logged into their account as well, or see if there has been any suspicious activity taking place. If there is someone logged in that isn’t recognized, the authorized user can instantly log them out.

Usage

For those that do not know about cryptocurrency trading, this site isn’t going to be the best option. There are a lot of graphs and charts which can be a bit confusing to someone that doesn’t know what they are doing. There also isn’t a mobile application available which is due to the complexity of the site.

Deposits and Withdrawals

These have to be done through a HitBIT wallet, and not directly through a user’s bank account in most instances. A bank can be linked to the account, but it’s a little more time consuming to do things that way.

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