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HitBTC Exchange Review – Fees, Pros, Cons and Features

Founded in 2014, HitBTC only charges its users 0.01 percent per trade. It also offers a rebate program for market makers.
Rating 2.5/5

HitBTC is one of the largest cryptocurrency exchanges in the world for daily trading volumes. The platform lists hundreds of supported coins, and its fees are highly competitive. However, the platform has a somewhat “murky” reputation in the public domain.

Nevertheless, if you’re thinking about opening an account with HitBTC, be sure to read our comprehensive review first. We’ve covered everything from fees, regulation, supported coins and countries, user-friendliness, and more.

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    If you haven’t quite got the time to read our review all of the way through, then we concluded by noting that we cannot recommend HitBTC as a credible exchange. The platform not only has a history of moving from jurisdiction-to-jurisdiction, but it has a significant number of bad reviews in the crypto community.  If the safety of your funds is your top priority (which it should be), we instead prefer heavily regulated platforms like Coinbase. Not only do they hold two regulatory licenses, but the platform is simple to use, it allows you deposit funds using multiple fiat options, and you can even short coins.

    What is HitBTC?

    Launched way back in 2013, HitBTC is one of the oldest cryptocurrency exchanges in the industry. The platform allows users to buy, sell and trade hundreds of different cryptocurrencies, 24 hours per day.

    One of the main concerns regarding HitBTC is accountability. The reason for this is that it still remains to be seen where the company is actually based. For example, at the time of writing the exchange offers a mailing address in Hong Kong, however it also claims to have office representatives in Chile and Estonia. This should act as a major red flag when dealing with an exchange, not least because if anything happened to your funds, it would be difficult to know where to turn to.

    Nevertheless, HitBTC allows users to deposit funds using real-world money. While this includes a direct bank transfer, the platform does not support debit/credit cards or e-wallets. One of the main selling points to HitBTC is that the platform offers some of the cheapest fees in the cryptocurrency exchange arena.

    How does HitBTC work?

    If you have ever used a cryptocurrency exchange before, then HitBTC works in exactly the same way. The company operates as a third-party middleman between buyers and sellers, making a profit in trading fees along the way. All you need to do to get started is register a Bitcoin account, deposit some funds, and then proceed with your cryptocurrency purchase. If you then plan on keeping hold of your coins long-term, you should consider withdrawing them to private Bitcoin wallet , as opposed to keeping them in your online HitBTC wallet.

    Due the number of supported coins that HitBTC lists on its platform, the exchange is also useful if you are looking to engage in day trading. However, the platform offers a number of advanced features within its main trading area, so you’re best off doing this only if you are an experienced trader.

    In order to diversify its product range, HitBTC also allows you to trade on margin. However, once again, this is best suited for those with an advanced knowledge of trading.

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    68% of retail CFD accounts lose money.
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    68% of retail CFD accounts lose money.
    As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase.
    74% of retail investor accounts lose money when trading CFDs with this provider.
    The price and value of any investment in digital asset products can fluctuate.
    The traded price of digital tokens can fluctuate greatly within a short period of time.
    Market prices for digital tokens can be volatile and highly unpredictable.
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    71% of retail CFD accounts lose money.
    Rating
    5.0
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    4.1
    Mobile App Rating
    10/10
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    8/10
    9/10
    9/10
    9/10
    Mobile App
    Wallet
    Number of Coins
    13410859223412465215
    Trading Fees
    Spreads0.2%Spreads0.1%0.1%0.1%0.1%0.50%Spreads
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $5N/AN/A0.0005 BTCN/AN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCAN/ACySECN/AN/AN/AFCAFCACBI, MiFID
    Min. Deposit
    $50N/A100 EURN/AN/A$10$10$2$100
    Leveraged Trading
    N/A1-200xN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30x
    Bitcoin
    $29811.94$40377.55$29928.20$29831.32$40391.88$40393.04$40404.41$40416.27$29913.29
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