The Latest HitBTC Review Every Crypto Trader Should Read

To trade in cryptocurrencies, you need a crypto exchange. The ease of trading, security, and the profit you can make trading the cryptocurrencies of choice largely depends on the exchange.

Today, because of the rising demand for cryptocurrencies, a lot of exchanges have sprung up and made it very complex for traders to select the right platforms. The situation gets more complicated because hackers consider exchanges an easy target.Recently, Youbit and Coincheck were hacked and millions in altcoins siphoned away.

In this post, we will focus on HitBTC review to establish whether the reference as “the most advanced exchange” is true. The review digs into the exchange to determine its reliability and security amidst emerging threats. It will also answer the hard questions, such as “Does HitBTC make trading easier?”, “Is it a reliable option for emerging opportunities in the niche?” and many more.

What Is HitBTC?

HitBTC is a cryptocurrency exchange that was started in 2013 by Dave Merill who wanted to make trading in digital assets secure, fast, and reliable. Though the address of the exchange reads Hong Kong, it is based in Estonia and was established for the primary goal of facilitating Bitcoin trading.

The exchange has, however, grown to include other cryptocurrencies such as Ethereum, Ripple, Litecoin, Dogecoin, and even lesser-known tokens in the market. The market has defied the odds by allowing its users to trade their digital assets against fiats such as the euro and US dollar, a move that few others are willing to make.

HitBTC stands out for its bots trading friendly architecture. Their special focus on security and ease of operations has made the exchange tag itself as the most advanced exchange in the market.

HitBTC: A 4.7 Star Exchange Because Of Unique Architecture

HitBTC is a 4.7-star exchange because of its information-filled terminal that makes trading easy and fun. Whether you are an experienced or a newbie cryptocurrency trader, the HitBTC dashboard displays recent trades, various currency pairs, and movements over time.

Though a new trader might be a little frightened at the beginning, trading on HitBTC becomes very easy with practice. Do not borrow the notion that HitBTC is a complex trading platform because you can even familiarize yourself with it using the demo trading account.

The demo trading account and support for fiat have made HitBTC act like a gateway to cryptocurrency trading especially to crypto-only exchanges, such as Binance and Bittrex. For example, Binance requires you to start from an exchange such as HitBTC to converting fiat currencies to a cryptocurrency of your choice.

The Main HitBTC Features And How They Work

HitBTC remains outstanding in the market because of its unique features. They are carefully designed and regularly updated to make the trading experience more intuitive and enhance profitability for users.

  • The Trading Platform

When you visit the HitBTC site to trade, the interface is simple and self-explanatory. You can easily pick the top cryptocurrency pairs in just a click or select other activities, such as registering, talking to the support, or even pull out their social media pages.

Being able to access the information with ease implies that making the right decision will also be relatively easy. Indeed, you can even change the language to your preferred option.

  • Low Transaction Fee

HitBTC fees has become one of the major attractions for traders in the market. By only charging the takers a fee of 0.1%, HitBTC allows users to retain the bulk of the profit they make in the platform.

Note that makers are not charged for using the platform. Indeed, HitBTC provides them a rebate of 0.01% for providing liquidity.

  • The HitBTC API

The HitBTC API (Application Programming Interface) makes it possible for users to plug in custom software. They include Streaming API, Socket.io, and RESTful API that allow expanded functionalities, such as managing funds, trading operations, and enhanced access to market data.

  • The Affiliate Program

To grow its community, HitBTC exchange’s affiliate program rewards users who introduce new people. When the people you invite start trading, a percentage of the trading fee they pay is credited to your account.

  • HitBTC Over The Counter Trading

This is a unique feature that allows traders who want to move high volumes bypass the public order books. What this implies is that the investor enters into a deal with a counterparty without affecting the market price of the token.

Over the counter trading (OTC) at HitBTC is facilitated by Trusted Volumes. Besides, it is important to appreciate that only the traders moving more than 100,000 USD or its equivalent in selected coins are allowed to use OTC.

The HitBTC Order Types

To make trading more rewarding, allow users to optimize profitability, and reduce losses, HitBTC has three types of orders:

1. The Limit Order: This type of order allows a user to execute a trade at the selected price. The order is very useful when one knows the price to trade for a specific cryptocurrency pair.

2. Stop Order: This order executes your trades on the HitBTC exchange at specific prices. However, it differs from the limit order in that once the targeted price is hit; the order becomes a market order.

Unlike the limit order that appears all the time on the order book, the stop order is not listed until the trader activates them. Besides, they do not require the trader to have reserved funds.

3. Stop-Limit Orders: This order allows the trader to set the limit for the preferred price and immediately turns into a limit order when the target is reached. Note that this order requires the trader to set both the stop and limit prices.

Is HitBTC Safe?

When it comes to cryptocurrency exchanges, the number one most important thing is security. After the hacking attack that almost threw HitBTC off balance in 2015, the development team upped their game to make the exchange one of the most secure in the industry by using the following features.

  • They use 2-factor authentication.
  • The platform employs advanced encryption to prevent unauthorized access to personal info.
  • Cold storage is used to house the biggest percentage of tokens and only leaves a small portion to run the orders.
  • The exchange has an automatic log out option that closes all other sessions that might be open in your account except the one you are using at the moment.

HitBTC Review Summary

HitBTC is an exchange that has demonstrated its commitment to providing a reliable trading platform for both new and experienced crypto enthusiasts. The development team has adopted advanced security features that have made it live to the core objective of becoming the best cryptocurrency trading platform.

The architecture and the progressive update of the main features have continued to grow a highly satisfied community. As evidenced by their Twitter page, even companies and organizations are joining the platform to enjoy its services or even list their tokens.

Pros

  • Allows deposits, withdrawals, and trading in fiat currencies.
  • They list many cryptocurrencies, both old and new ones.
  • It is a highly secure exchange.
  • Its API makes customization easy and reliable.
  • Low transaction fee.
  • Unlimited balance top up.
  • A highly reliable demo account.
  • Over 50 trading instruments.

Cons

  • New traders need to take some moment learning how to trade in the exchange.
  • Some users have recently complained of delays in withdrawals. HitBTC has already indicated it is addressing the issue.

From this HitBTC review, we can conclude that it is a reliable platform that wants to grow progressively. If you have been looking for a trading platform that greatly simplifies the process and provides many opportunities in both old and new tokens, we cannot hesitate to recommend HitBTC Exchange.

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