Nov 15, · The fiat withdrawals and deposits allowed for qualified accounts are $10, per week and around $50, (EUR or USD) per month. However, according to an official HitBTC customer service representative on Reddit, “there is no daily limit at HitBTC”. Dec 20, · HitBTC is a cryptocurrency exchange which is famous for its wide variety of coin listings and advanced trading features. It was established in the UK in the year It supports more than cryptocurrencies, including all the major crypto-assets. Trading on HitBTC involves a combination of crypto/crypto pairs and a few crypto/fiat currency pairings. The full cryptocurrency asset listing features the following: Traders can deposit or.
Hitbtc deposit fiatIntroducing Deposit Fees on HitBTC / HitBTC Official Blog / HitBTC
There are also reports from forums regarding reliability, with some users having difficulties withdrawing their funds. However, in our experience, we had no such issues, as the exchange and its team functions well, especially if you follow all security recommendations and best practices. HitBTC is an old-time bitcoin exchange established in Since then, the exchange has made a name for itself as a go-to place for buying and selling low cap altcoins.
All in all, these features make HitBTC one of the top altcoin exchanges in terms of available markets and liquidity. Nevertheless, it also has numerous concerns surrounding it, which we address further in this HitBTC review. Founded in and launched in February , HitBTC is an advanced cryptocurrency exchange specializing in altcoin spot trading. It boasts of being established by experienced system architects, technology engineers, and finance experts, though most of HitBTC team remain anonymous, which is a big red flag for some users.
Reportedly, the company was kickstarted with a USD 6 million venture capital investment. Nevertheless, HitBTC exchange is open about its official location. During its six and counting years of operation, HitBTC had a colorful history with numerous accusations. There are many posts on social media, forums, and review sites pointing out all sorts of issues with the website.
One of the more notable rumors surrounding the exchange includes the hack of BTER and Excoin exchanges. HitBTC also went offline at the same time, but never acknowledged any losses or that it experienced a security breach. In and , many users have complained of slow HitBTC support response times, and some users also experienced issues with fund withdrawals.
This happens for safety reasons only — it is standard procedure, and we do it simply because the security of our customers is our top priority," HitBTC spokesperson told Cryptonews. In recent years, HitBTC has become a top exchange in terms of market liquidity, competing with such exchanges like Bitfinex and Binance. CryptoCompare even grants HitBTC the highest score in the data reporting section, indicating that the exchange's liquidity must be real competing unregulated exchanges that fake most of their trading volume.
The exchange is often accused of lack of transparency and shadowy businesses practices; however, there is no tangible evidence for these claims. It also values users' data and privacy and is entirely GDPR compliant , as you can delete your data from the exchange at any time. HitBTC runs a global operation. However, its terms and conditions specify that citizens and residents, as well as companies from the following countries, cannot use its services:.
HitBTC has several different verification tiers. Unverified accounts start as Starter, and verified ones receive upgraded account status. In order to get verified, you will have to submit the following documents:. Although HitBTC verification is not forced, upgraded accounts enjoy numerous benefits like the ability to regain access to the account in case of losing password or two-factor authenticator and lower trading fees.
The service is accessible via bequant. Trading cryptocurrencies on HitBTC comes with a simple fee structure. It does not charge fees for cryptocurrency deposits, but incur a cost for placing orders and withdrawing funds from the platform.
HitBTC trading fees are among the lowest in the industry. Unverified users pay 0. Here is how the lowest tier HitBTC fees fare with other popular cryptocurrency trading exchanges.
As you can see, there is a significant difference in HitBTC trading fees for verified and unverified accounts. When it comes to cryptocurrency deposits and withdrawals, there are no fees for making deposits with HitBTC. However, there are flat fees for withdrawals, and these can be particularly high for some of the newer cryptocurrencies listed on the site.
As an example, the following is a list of the one-off fees charged for withdrawing some of the more popular currencies:. In this regard, HitBTC withdrawal fees are some of the highest amongst all cryptocurrency exchanges.
To sum it up: HitBTC offers some of the lowest cryptocurrency trading fees amongst all crypto-to-crypto exchanges. At the same time, its cryptocurrency withdrawal fees can be unreasonably high for certain coins, making HitBTC fees a sort of mixed bag.
While such fee structure works for large-volume traders, it may be irritating for small traders dealing with small amounts of crypto. HitBTC does security well. For one, it lets users set up two-factor authentication for all their transactions, adding an extra layer of safety. And just in case someone else happens to be logged into their account, they can click a button that terminates all sessions except theirs.
At the same time, they can also choose to automatically log out of all sessions at a selected, regular interval. In addition to these options, HitBTC users can protect their account with the following security measures:. Until you do so, some features of the exchange will be locked, which is good for your security.
Yet despite its appeal as a secure technology, HitBTC remains an unregulated exchange at the forefront of the crypto wild west, which raises questions and adds risks to its reliability. Many users online seem to complain about forced know your customer KYC checks when withdrawing funds, so a good practice would be verifying your account before starting to trade on HitBTC. Also, the exchange employs a sophisticated legal team and complies with GDPR regulations, thus giving you full control over your data and privacy.
However, it scores only 9. Overall, HitBTC is a secure exchange in terms of technology it uses to protect your funds. However, the exchange lacks transparency when it comes to its team and location, which is a major red flag for some. On the contrary, it has a proven track record, operating in the industry for more than six years already. For the inexperienced cryptocurrency buyer or trader, navigating the HitBTC website is, at first, a dizzying experience.