HitBTC Review: Scam Exchange? You Need to Know This

It does offer one of the broadest cryptocurrency markets selection in the entire industry, and its trading fees are the lowest, too. The exchange is relatively secure and easy to use but is a better fit for more experienced traders. In this regard, HitBTC withdrawal fees are some of the highest amongst all cryptocurrency exchanges. HitBTC is a global platform that bills itself as “the most advanced Bitcoin exchange”. It is well known for low fees, a rapid trade engine, and a vast range of currency pairs.

Users should note that the IDs should be valid for the next three months, and the photo should be the original one and not a photocopy. Also, the image should be clear, colored, and with high resolution. On the top right-hand side of their home will be the “Sign up” button.

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First up in our HitBTC review, we examine the user interface. Compared to most other exchanges, the price chart interface is quite similar. The biggest difference between HitBTC and other exchanges is the way in which funds are categorized on the “account” tab. This is because HitBTC gives each user two accounts (main account and trading account), which both have different functionalities. The exchange has developed over the years to provide high volume trades on a secure platform that monitors and constantly updates users on the status of the system’s health.

• However, when it comes to HitBTC, you can have a full experience without the need to risk anything.
• It was started with the goal of creating an advanced trading platform for professional traders.
• Uphold is a cryptocurrency broker based in United States that launched its service in and offers individuals to buy and sell more than 52 cryptocurrencies.
• Bitstamp is a cryptocurrency broker based in Luxembourg that launched its service in and offers individuals to buy and sell more than 42 cryptocurrencies.
• I’ve been living on this platform for over three years.
• To keep your account active, you can initiate any type of transaction with any coin available on the platform, not necessarily DAG withdrawals.

This process includes depositing using a cryptocurrency rather than through a bank account. Depositing using the bank account requires a complete verification process, which takes time. On the other hand, cryptocurrency as a deposit method will only take 20 minutes or so for the funds to show up in your account. HitBTC has over 800 trading pairs available, including Bitcoin, Ripple, Ethereum, Stellar, etc.

HitBTC withdrawal problems

Also, the exchange employs a sophisticated legal team and complies with GDPR regulations, thus giving you full control over your data and privacy. Yet despite its appeal as a secure technology, HitBTC remains an unregulated exchange at the https://www.tokenexus.com/hitbtc-review/ forefront of the crypto wild west, which raises questions and adds risks to its reliability. Once you reach tier 8, that is trade 50,000 BTC per month or more, HitBTC will start paying you a rebate of -0.01% per every completed trade.

Looking deeper, I understand that HitBTC introduced an inactivity fee of 10 dollars. The problem is not the fee itself, if you don’t like, just leave. I lost all the money in my account, all of it, due to a hidden HitBTC fee. The charge is US$10 per month if you have more than 6 months of inactivity. This charge can only be discovered in the terms and conditions, since it is not reported on the commission page. Like other exchanges, the trading fee structure is centered around an individual’s 30-day trading volume.

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HitBTC has a rating of 2.33 stars from 75 reviews, indicating that most customers are generally dissatisfied with their purchases. The support team has been responding to you in a timely manner while they were working on your case. If you need any further assistance, please let me know, the support team will be happy to help.

Click the “Request Verification” button once you are done with everything. In addition, there have also been reports from several forums that question its reliability, with some users stating that they faced difficulties withdrawing tokens. Whether these comments and criticisms are warranted is hard to determine. However, our HitBTC review would not be complete if we did not cover these points.