2023 HitBTC Review: Is HitBTC Legit? In-Depth Analysis Revealed

HitBTC Review

They recommend using 2-factor authentication when signing up to strengthen your account’s security. You can activate it when logging in, withdrawing funds, and adjusting settings. HitBTC is a crypto currency exchange owned by HIT https://www.tokenexus.com/ solutions Ltd, which is based in Hong Kong. HitBTC charges just 0.1% in trading fees, which makes it very competitively priced. HitBTC lists over 300 different cryptocurrencies, which equates to over 800 different trading pairs.

HitBTC Review

HitBTC offers a rebate program for their market makers; market makers provide the exchange with high liquidity, where they get a rebate of 0.01%. If they reach tier 8 like if they trade 50,000 Bitcoin a month or more, HitBTC will pay the user a rebate of -0.01% for every completed trade. If the trader liquidates a trade position to reach the liquidation price, HitBTC charges a liquidation fee of 0.5% of the position value in the quoted currency.

HitBTC Reviews

CFDs work in a similar fashion to futures contracts that you have on platforms such as Bitmex and the like. They are also margin instruments which means you must tread with caution as you can very quickly get liquidated and margin called. Of course, this depends on how secure you feel about providing HitBTC with your personal documents. HitBTC claims that they keep all client material confidential and they have not suffered a hack as of yet.

HitBTC Review

This site actually functioned below standard and that was a red flag I should have avoided for long, before I lose my money to this company. I was devasted and was looking for a better option even when I thought I ran out of options of a new broker. Luckily I found “Vou wallet” which seems to be the only broker that has offered me a large sum of profits for the first time since I started Crypto investment. To begin trading on HitBTC you’ll need to create an account. In the top right corner, you can select Register to be taken to the main account creation page. The second is to enter your email and a secure password in the registration fields on the home page, then press Start Trading Now.


It’s only available as a mobile site, with all the limitations that imply. The site is functional on mobile but certainly doesn’t provide the same level of utility as some other app-based exchanges. While HitBTC has taken significant steps to protect users from outside bad actors, HitBTC Review the same can’t be said with certainty about the exchange itself. There have been troubling reports from a significant number of users claiming HitBTC has frozen their accounts and locked their funds without explanation. HitBTC keeps the remaining .09% to cover its operating costs.

Personal information, including name, address, country of residence, bank account, date of birth, and pertinent scanned documents, must be provided for adding or withdrawing funds. When the deposited funds are added to the account, you’re all set to start trading. You’ll be directed to the trading area after clicking the exchange button. You can enter the cryptocurrency you want to purchase on the trading screen and select your favorite trading pair. HitBTC features high-volume trading, and the trades are executed in a matter of seconds.

How to Save Yourself From Crypto Exchange Scams

If they do respond, they will pretend to help you, asking for more and more personal information, then stop responding to you once you’ve given them everything that they’ve asked for. To be eligible for HitBTC’s OTC service, you must exchange more than $100,000 for each trade, and each transaction will be charged a 0.1% transaction fee. Toju Ometoruwa is a Northeastern University alumni who is the co-founder of Pazima, a start-up that provides secure lending options for low-income workers. His passion is to empower communities across the African diaspora through the blockchain.

HitBTC Review

You’ll have to first transfer them to the ‘trading account’, which is designed specifically for trading and not for storing funds. However, it does have some transparency issues, which put red flags on this exchange. Therefore, it depends on you and your risk tolerance level – Whether to trade on it with completing the KYC and regulating extra securities or not? Just remember the golden rule – never trade more money than you can afford to lose, and go with your gut feelings. After this, you will see the unique deposit address of the coin you selected. Click on the “Copy” blue button to copy the wallet address to your clipboard.

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