The HitBTC exchange is a platform created in 2013 by Estonian experts and Israeli entrepreneurs that allows trading more than 300 cryptocurrency pairs. HitBTC is the platform on which the most popular cryptocurrency is Bitcoin Cash (BCH) — it is on HitBTC that more than 40% of BCH transactions take place. The developers of the site took care of their users who can trade round the clock, so they have developed two types of design — day and night. The HitBTC exchange website is available in English, Chinese and Korean.
Developers are also interested in listing new projects — not so long ago a simplified way to list new coins, creating trading pairs against BTC, ETH and USDT has been launched on the exchange.
You just need to go to the “Add Token” section and fill out the form, indicating the project website, links to the discussion of the coin in the Reddit and Bitcointalk forums, as well as providing a general description of the project.
The HitBTC Affiliate Program gives an opportunity to earn money by engaging more users by placing HitBTC’s customized Price ticker widget with referral link at your web site. You will receive a certain percentage of the profit that your referral brought to the exchange.
Registration and Verification
To fully work on HitBTC, you need to register and verify your account. Registration is easy and you need to specify only the email address and the desired password. The mail will need to be confirmed with a link that you will receive on your email address.
After registration, you can trade cryptocurrencies and withdraw them without restrictions; but the system requires account verification in order to deposit fiat money to the exchange, for example, USD. it is also impossible to withdraw money earned on a card without account verification.
Verification of the account involves providing the exchange administration with the following data:
- a full name,
- country of residence and address,
- date of birth,
- scanned documents.
Deposit and Withdrawal
Depositing on the HitBTC exchange is initially possible only with cryptocurrencies, but after passing the verification, users will have the opportunity to make replenishment of the account in dollars.
The service offers many ways to withdraw funds from the account. The main ones are the usual transfer of cryptocurrency, SWIFT payments for USD and SEPA for EUR. It should also be said that only residents of Europe can withdraw in euro.
Trading on HitBTC Exchange
After replenishing your wallet, go to the “Exchange” page. In the right part of the screen, all available cryptocurrencies are displayed. HitBTC offers a really impressive list, where there are such coins like Bitcoin Gold (BTG), GoByte, PACcoin, Air Token and many others.
On the left there is the rate graph of the current currency pair. The graph is informative and has the option of additional customization. The exchange functionality is simple, but at the same time it does not look limited and provides many opportunities for trading. Under the graph there are blocks for creating applications for the purchase and sale of cryptocurrencies, which allow making trading. Even lower — market depth from other users of the exchange. On the trading page there is also a table with a list of all conducted transactions.
This platform is included in the top 10 crypto exchanges and is quite competitive in this area. The project has been able to achieve such results thanks to offering a large number of currency pairs and good functionality. The most popular markets on the exchange are BTC / USDT, BCH / BTC, Dash / BTC, ETH / BTC, XMR / BTC.
If you wish to get more details on the daily trade volume on HitBTC, please, follow this link.
HitBTC employs maker-taker model with the purpose of maximizing liquidity and narrowing the spread on our markets as well as encouraging the “makers”.
“Takers” are charged with 0.1% fee from the trade.
“Makers” are not charged with a fee. On the contrary, they receive a 0.01% rebate from the trade.
If current sell price for BTC is 10,000 USDT and you place a buy order at 10,000 USDT, your order will be executed immediately. In this case you will be charged taker fee of 0.1%.
If current sell price for BTC is 10,000 USDT and you place a limit buy order at 9,950 USDT, you will get 0.01% rebate from the trade and won’t pay any fees to the exchange.
Security and Protection
The peculiarity of dealing with cryptocurrency is that if third parties take funds, it will hardly be possible to return them. That is why, the security of services that interact with blockers should be in the first place. The HitBTC developers took this into account when creating the exchange and took care to secure the process of trade and use of the site.
All user actions are logged, and you can find the ip-addresses and devices that were used to sign in to your account in your personal account. This makes it possible to monitor activity and be sure that no one else has access to your money.
The very process of logging into the account on HitBTC is also complicated and protected from intruders. For this, a two-factor authentication system from Google is used. It is also applied during an attempt to make a transaction and change settings.
When a user does not perform any actions on the site for a long time after logging into the account, the system automatically breaks the session and the user needs to log in again. You can change the time interval in the settings yourself. You can also abort all sessions using a special button, for example, if you did not log into your account from your device.
Customer Support Service
The technical support service of HitBTC works well, but sometimes there are complaints from users. The service team associates a decline in the quality of service with the influx of a large number of users in late 2017. Anyway, the support readily resolves all users’ problems, in case they arise. The exchange has accounts in social networks and you can always quickly find out why something is not working by checking the page on twitter or facebook.