Hitbtc Review 2024

Autor

Revisor

Last update: 1 year ago

Our veredict

HitBTC stands out in the cryptocurrency exchange landscape for its extensive range of available cryptocurrencies and a robust trading platform. It is particularly noted for offering a vast array of tokens, including lesser-known and emerging cryptocurrencies, which provides traders with many opportunities for speculative trading and access to new markets. This can be a substantial advantage for users looking to diversify beyond the more commonly traded coins.

However, HitBTC has faced criticism regarding its customer service and account management issues. Users have reported problems with account freezes and slow response times from support when resolving these issues. This aspect could be a significant drawback for new users who might require more assistance and reassurance from their platform’s support team. Therefore, while HitBTC might be attractive for its diverse market offerings, potential users should weigh these benefits against the challenges they might face with customer support and account management.

Pros

Cons

Investing risks losing your money

4,4

Threenvest Score

Fees

0,10%/0,20%

U.S Legal

With the confidence of Threenvest

1. Security Methods HitBTC employs robust security measures, including two-factor authentication, cold storage for the majority of funds, IP monitoring, and withdrawal whitelisting. These measures ensure that user funds are well-protected against potential breaches and hacks.

2. Volume Managed With high trading volumes across a wide array of cryptocurrencies, HitBTC provides substantial liquidity. This is beneficial for traders looking to execute large orders without significant price fluctuations, ensuring smoother trading experiences.

3. Transparency Although the corporate structure is somewhat opaque, HitBTC maintains transparency in its fee structure and trading processes. The platform provides detailed information on fees, trading pairs, and supported cryptocurrencies, which helps build trust with its users.

4. Trading Volume and Liquidity HitBTC consistently ranks among the top exchanges in terms of trading volume, offering deep liquidity across its extensive range of trading pairs. This high liquidity is crucial for executing trades quickly and at favorable prices.

5. Withdrawal and Deposit Policies HitBTC offers a straightforward withdrawal and deposit process with a variety of supported cryptocurrencies. While fiat withdrawals and deposits are limited, the platform’s clear policies and reasonable fees make it a reliable choice for crypto-to-crypto trading.

Best Crypto Exchanges

Why can you trust Threenvest?

At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

About Hitbtc

What is HitBTC?

HitBTC is a cryptocurrency exchange that allows users to trade a wide range of digital assets. Established in 2013, it is known for its extensive selection of over 500 cryptocurrencies and more than 800 trading pairs. The platform offers advanced trading features such as margin trading, algorithmic trading, and robust security measures, making it a preferred choice for experienced traders.

Background and History

Founded in 2013, HitBTC is one of the oldest cryptocurrency exchanges in operation. The platform was launched to provide a reliable and secure environment for trading digital assets. Over the years, HitBTC has grown significantly, expanding its range of supported cryptocurrencies and trading pairs. Despite its growth, the exchange has faced criticism for its opaque corporate structure and customer support issues.

Founders

The founders of HitBTC remain largely anonymous, contributing to the exchange’s opaque corporate structure. The company operates with offices in Hong Kong and Chile, but specific details about the executive team are not publicly available. This lack of transparency has been a point of contention among users and industry observers.

Fun Facts

HitBTC supports over 500 different cryptocurrencies, one of the largest selections available on any exchange.
The platform offers advanced trading features such as margin trading and algorithmic trading, attracting high-volume traders.
Despite its extensive security measures, including two-factor authentication and cold storage, HitBTC has never been hacked.

Headlines

“HitBTC: Over a Decade of Secure and Extensive Crypto Trading”
“HitBTC’s Massive Cryptocurrency Selection: A Trader’s Paradise”
“Navigating HitBTC: Pros and Cons of One of the Oldest Crypto Exchanges”

HitBTC provides a robust trading platform with a wide range of digital assets and advanced trading features, making it a strong contender for experienced traders, despite its challenges with customer support and corporate transparency.

Why Choose Hitbtc?

HitBTC is an excellent choice for experienced traders who need a comprehensive and secure platform. With over 500 cryptocurrencies and more than 800 trading pairs, it offers one of the most extensive selections of digital assets available. This variety allows traders to diversify their portfolios and explore a wide range of trading opportunities. The platform also provides advanced trading features such as margin trading and algorithmic trading, catering to high-volume and professional traders looking for sophisticated tools to enhance their trading strategies.

Security is another significant advantage of HitBTC. The exchange employs robust security measures, including two-factor authentication, cold storage for the majority of funds, and IP monitoring for logins. These features ensure that user funds are well-protected, giving traders peace of mind while conducting transactions on the platform. Additionally, HitBTC has a transparent fee structure, with competitive trading fees that decrease as trading volume increases, making it a cost-effective option for frequent traders.

However, it is essential to consider some of the platform’s drawbacks. HitBTC has faced criticism for its customer support, with users reporting slow response times and unresolved issues. Additionally, the exchange is not available to users in certain regions, including the United States, due to regulatory restrictions. Despite these challenges, HitBTC’s extensive range of cryptocurrencies, advanced trading features, and robust security measures make it a strong contender in the cryptocurrency exchange market. At Threenvest, we recommend HitBTC for traders who prioritize a wide selection of digital assets and advanced trading tools, but advise users to be aware of its customer support limitations.

Where it falls short

1. Customer Support: One of the most significant areas HitBTC needs to improve is its customer support. Users frequently report long response times and unresolved issues, which can be frustrating, especially for those dealing with urgent account or transaction problems. Enhancing the responsiveness and effectiveness of the support team would significantly improve the overall user experience.

2. Corporate Transparency: HitBTC’s opaque corporate structure has been a point of concern for many users. The lack of clear information about the executive team and the company’s regulatory standing can undermine trust. To address this, HitBTC should aim to provide more transparency about its corporate governance, including detailed information about its leadership and operational practices. This would help build greater trust and credibility among its user base.

Features	Explanation
Minimum Trade	Giottus has a low minimum trade amount, making it accessible for users with varying investment sizes.
Trading and Transaction Fees	Competitive fee structure with no fees for makers and 0.20% for takers, lower than the industry average.
Number of Cryptocurrencies	Supports a decent range of major cryptocurrencies and some altcoins, though not as extensive as some larger exchanges.
Crypto-to-Crypto Trading Pairs	Offers various crypto-to-crypto trading pairs, sufficient for most traders but not exhaustive.
Website Transparency	Provides clear and transparent information on fees, services, and features, ensuring users are well-informed.
Credit/Debit Card	No exchange card available for in-store purchases or additional benefits, which is a significant drawback.
Storage Offering	Secure storage solutions with most funds held in cold storage and insured custodial services through Bitgo.
Staking and Rewards	Offers some staking options, but they are not as extensive or rewarding as those available on other platforms.
Mobile App and Desktop	The mobile app is highly rated for its user-friendly design and multilingual support, providing a seamless trading experience.
Customer Service	Responsive customer service available through live chat and email, but the lack of phone support is a minor limitation.
Deposit and Withdraw	Supports multiple deposit methods including bank transfers and UPI, with quick processing times, but fiat transactions are limited to INR.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert at Threenvest, I recommend HitBTC for traders who seek a diverse range of cryptocurrencies and advanced trading features. The platform’s robust security measures provide peace of mind, and its competitive fee structure is advantageous for high-volume traders. However, be mindful of the potential delays in customer support and the lack of corporate transparency. Overall, HitBTC is a solid choice for experienced traders looking to leverage a wide array of digital assets.

Fees

HitBTC Trading Fees Overview HitBTC uses a straightforward fee structure that follows a maker-taker model. The standard fee is 0.1% for makers and 0.25% for takers. However, the fee decreases with higher trading volumes, incentivizing frequent and high-volume trading. For instance, users with significant monthly trading volumes can benefit from fees as low as -0.01%, essentially earning rebates on their trades . The exchange also offers tiered fee discounts based on trading volume over the last 30 days. This means that the more you trade, the less you pay in fees, which can be advantageous for active traders. Additionally, HitBTC supports various withdrawal methods, each with its own associated fees, primarily network fees for the cryptocurrency being withdrawn . Summary of HitBTC’s Commissions HitBTC’s commission structure is designed to be competitive and transparent. Regular users face a 0.1% maker fee and a 0.25% taker fee, with opportunities for rebates and lower fees for high-volume traders. The tiered fee system encourages increased trading activity by offering progressively lower fees based on the user’s trading volume over the past 30 days. Withdrawal fees vary depending on the cryptocurrency and its network conditions, while there are no deposit fees for digital assets. Overall, HitBTC’s fee structure benefits frequent traders, though beginners and low-volume traders should be aware of the standard rates. The exchange’s commitment to transparent and competitive fees makes it a strong contender for those looking to minimize trading costs while maximizing trading opportunities.

Pros

1. Competitive Fees HitBTC offers a competitive fee structure, especially for high-volume traders. The maker fee starts at 0.1%, and the taker fee at 0.25%, both of which can be reduced with higher trading volumes.
2. Fee Discounts The exchange provides tiered fee discounts based on 30-day trading volume, allowing active traders to benefit from lower fees and even potential rebates.
3. Transparent Fee Structure HitBTC maintains a transparent fee structure, clearly listing all trading and withdrawal fees on their website, ensuring that users are fully aware of the costs involved.

Cons

1. Higher Fees for Low-Volume Traders For users who do not trade frequently or in high volumes, the standard fees can be relatively higher compared to some other exchanges.
2. Withdrawal Fees While deposit fees are generally free, withdrawal fees are applied and vary depending on the cryptocurrency and network conditions, which can sometimes be a drawback for users frequently withdrawing funds.

Comprehensive Overview of HitBTC Commissions

HitBTC employs a maker-taker fee model, which is a common structure in cryptocurrency exchanges. The standard trading fees for HitBTC are 0.1% for makers and 0.25% for takers. Makers are those who provide liquidity by placing limit orders below the market price, while takers are those who remove liquidity by matching existing orders. This fee structure benefits high-volume traders through a tiered fee system, where trading fees decrease as trading volume increases. At the highest tier, users can receive a rebate, effectively getting paid to trade.

Trading Commissions:

Standard Fees: Makers are charged 0.1%, and takers 0.25%.
Volume-Based Discounts: Fees decrease with higher trading volumes over a 30-day period. For example, users who trade more than 50,000 BTC per month can enjoy a rebate of -0.01% per trade.
Fee Rebates: At the highest trading volumes, HitBTC offers rebates, meaning users can earn back a percentage of their trades.

Hidden Commissions: There are no hidden fees on HitBTC, as the exchange maintains a transparent fee structure. All fees, including trading and withdrawal fees, are clearly listed on their website. This transparency allows traders to calculate their costs accurately without unexpected charges. Withdrawal Fees: Withdrawal fees vary depending on the cryptocurrency. These fees cover the network costs for processing transactions. For instance, withdrawing Bitcoin (BTC) incurs a network fee, which can fluctuate based on blockchain conditions. Comparative Context: Compared to other exchanges, HitBTC’s fees are competitive, especially for high-volume traders who can benefit from substantial discounts and rebates. While the standard fees might be slightly higher for low-volume traders, the potential for rebates and volume-based discounts makes HitBTC an attractive option for frequent and large-scale traders. However, users should be aware of the network fees for withdrawals, which are typical across most exchanges.

Summary of Commissions

HitBTC offers a clear and competitive fee structure that caters to both casual and high-volume traders. With standard maker fees at 0.1% and taker fees at 0.25%, the exchange incentivizes liquidity provision through its tiered fee system, offering significant discounts and even rebates at higher trading volumes. The transparency in its fee structure, absence of hidden charges, and detailed listing of withdrawal fees make it a reliable choice for traders looking to manage their costs effectively while trading a wide range of cryptocurrencies.

Product selection

HitBTC is a well-established cryptocurrency exchange offering a wide array of services and products designed to meet the needs of both novice and experienced traders. The platform supports over 500 digital assets and more than 800 trading pairs, providing a comprehensive trading environment. Users can engage in spot trading, margin trading, and futures trading, allowing for a diverse range of trading strategies. Additionally, HitBTC offers a demo account feature, enabling new users to familiarize themselves with the platform and practice trading without financial risk . The exchange also provides robust security measures, including two-factor authentication, cold storage for the majority of funds, and advanced encryption to protect user data and assets. For those looking to trade large volumes, HitBTC offers Over-The-Counter (OTC) trading services, which facilitate large transactions with minimal market impact. Furthermore, the platform’s API access supports algorithmic trading and integrates with various trading bots, enhancing the trading experience for professional users . Despite its many strengths, HitBTC has faced criticism for its customer support and corporate transparency. However, its low trading fees, high liquidity, and extensive range of supported cryptocurrencies make it a competitive choice in the crypto exchange market. Overall, HitBTC’s diverse offerings and advanced trading features make it a valuable platform for a wide range of cryptocurrency traders .

Pros

1. Wide Range of Cryptocurrencies Supports over 500 digital assets, providing extensive trading options.
2. Advanced Trading Features Offers margin trading, futures trading, and API access for algorithmic trading.
3. Robust Security Measures Includes two-factor authentication, cold storage, and advanced encryption.

Cons

Read more about product selection in Hitbtc

HitBTC Products and Services

Trading Platform HitBTC’s main service is its comprehensive trading platform, which supports a vast array of over 500 cryptocurrencies and more than 800 trading pairs. The platform is designed to cater to both beginner and advanced traders, offering various trading options, including spot trading, margin trading, and futures trading. It also provides robust tools for market analysis, such as advanced charting, order books, and market depth analysis .
Over-The-Counter (OTC) Trading For high-volume traders, HitBTC offers OTC trading services. This feature is designed for transactions exceeding $100,000, allowing users to trade large amounts of cryptocurrency with minimal market impact. The OTC service ensures privacy and efficiency, providing a secure way to execute large trades .
Demo Account To help new users familiarize themselves with the platform without risking real funds, HitBTC offers a demo account. This feature allows users to practice trading strategies and learn how to navigate the exchange using simulated funds. The demo account is an excellent tool for beginners to gain confidence before committing real capital .
API Access HitBTC provides extensive API access for advanced users and developers. The API supports programmatic access to the trading engine and the Financial Information Exchange (FIX) protocol. This enables users to integrate their own trading bots or other automated trading strategies directly with the HitBTC platform, enhancing trading efficiency and customization .
Mobile App HitBTC has developed a mobile application available for both Android and iOS devices. The app allows users to trade on the go, providing access to all the essential features of the desktop platform. This includes real-time market data, trading tools, and the ability to execute trades quickly and securely from a mobile device .
Security Features Security is a top priority for HitBTC. The platform employs multiple security measures, including two-factor authentication, cold storage for the majority of user funds, IP whitelisting, and advanced encryption technologies. These features help ensure that users’ assets are protected from potential threats .

Additional Features

Token Listing: HitBTC is known for its relatively easy process for listing new tokens, making it a popular choice for emerging projects.
Margin Lending: Users can lend their cryptocurrencies to earn interest, providing liquidity to the margin trading market.
Algorithmic Trading: The platform supports various trading bots, allowing users to automate their trading strategies.
Trading View Integration: HitBTC integrates with TradingView, providing users with advanced charting tools and indicators to enhance their trading analysis .

Overall, HitBTC offers a wide range of products and services that cater to different types of traders, from beginners to seasoned professionals. The platform’s advanced features, high security, and comprehensive trading options make it a versatile choice in the cryptocurrency exchange market.

Account opening

Opening an account on HitBTC is a straightforward process that can be completed in a few simple steps. First, visit the HitBTC website and click on the “Sign Up” button located at the top right corner of the page. You will need to provide a valid email address and create a secure password. After entering this information, agree to the Terms of Service and Privacy Policy, and click “Create Account”. A verification email will be sent to your provided email address; click the link in this email to verify your account. Once verified, you can log in to your new account and start trading. For enhanced security and access to all features, it’s recommended to complete the Know Your Customer (KYC) process by providing additional personal information and identification documents .

Pros

Simple Registration: The sign-up process is straightforward and quick, allowing users to start trading almost immediately.
Demo Account Available: New users can practice trading with a demo account, which provides a risk-free way to learn the platform.
Enhanced Security: The platform supports two-factor authentication and other security measures to protect user accounts.

Cons

Read more about account opening in Hitbtc

Detailed Account Opening Process on HitBTC

How to Sign Up on HitBTC

Visit the HitBTC Website: Go to the official HitBTC website and click on the “Sign Up” button located at the top right corner of the homepage.
Enter Your Details: Provide a valid email address and create a strong password. Ensure your password is unique and secure to protect your account.
Email Verification: After submitting your details, you will receive a verification email. Open this email and click on the verification link to confirm your email address.
Secure Your Account: Once verified, log in to your new HitBTC account. It is highly recommended to enable Two-Factor Authentication (2FA) for added security. This can be set up in the account settings.

Opening an Account To fully utilize HitBTC, completing the Know Your Customer (KYC) process is essential. This involves submitting personal information such as your full name, date of birth, nationality, residential address, and a government-issued ID. You may also need to provide a selfie holding the ID and proof of address. Completing the KYC process allows higher withdrawal limits and access to all platform features .

How to Buy Your First Cryptocurrency

Deposit Funds: Navigate to the “Account” tab and click on “Deposit”. Choose the cryptocurrency you wish to deposit and copy the provided wallet address. Use this address to transfer funds from your personal wallet or another exchange.
Select a Trading Pair: Once your funds are deposited, go to the “Exchange” tab. Choose the trading pair you wish to trade (e.g., BTC/USDT).
Place an Order: Enter the amount you want to buy or sell. You can choose between different order types such as market order, limit order, etc. Confirm the order to execute your trade.

Account Types

Starter: Allows trading of up to 1 BTC per day and 5 BTC per month without KYC.
Trader: Free crypto deposits, and withdrawals up to 100 BTC per day. Requires full KYC verification.
Pro: No deposit fees and higher withdrawal limits. Additional documentation may be required for business accounts .

How to Use HitBTC

Trading Platform: The main trading interface provides advanced charting tools, order books, and market depth analysis.
API Access: Developers can use the API for programmatic trading and integration with trading bots.
Security Features: Enable 2FA, whitelisting withdrawal addresses, and session terminations for enhanced security.

Registration and KYC

Registration: Simple sign-up with email verification.
KYC Verification: Required for higher withdrawal limits and fiat transactions. Submit personal information, ID verification, and proof of address.

How to Deposit Money

To deposit money, navigate to the “Account” tab, select the cryptocurrency, and use the provided wallet address to transfer funds. For fiat deposits, complete the KYC process and use supported payment methods like SEPA or SWIFT transfers. By following these steps, users can efficiently set up their accounts, secure them, and begin trading on HitBTC.

Security

HitBTC employs robust security measures to ensure the safety of user funds and data. The platform uses advanced encryption protocols, two-factor authentication (2FA), and cold storage to protect the majority of its assets. Regular security audits and a comprehensive monitoring system help identify and mitigate potential threats, maintaining a secure trading environment for its users. Despite these strong security features, HitBTC has faced scrutiny due to past incidents of prolonged withdrawal delays, which some users perceive as security-related issues. However, the exchange continues to prioritize security improvements and transparency, striving to maintain user trust and provide a safe platform for cryptocurrency trading.

Pros

Cons

Is HitBTC Legit?

Yes, HitBTC is a legitimate cryptocurrency exchange. Established in 2013, it has built a reputation for providing a wide range of cryptocurrencies and advanced trading tools. The platform operates globally and serves a large user base, which adds to its credibility in the crypto market.

Regulation

HitBTC is not explicitly regulated by any major financial authority, which is a common scenario for many cryptocurrency exchanges. However, it adheres to industry-standard security practices and complies with international anti-money laundering (AML) and know-your-customer (KYC) regulations to enhance security and trustworthiness.

Licensing

HitBTC does not hold specific licenses from major financial regulators, which might be a concern for some users looking for additional assurances of compliance and oversight.

Is HitBTC Safe?

HitBTC employs several security measures to protect user funds and data. These include advanced encryption protocols, two-factor authentication (2FA), and cold storage for the majority of its digital assets. The exchange also conducts regular security audits and real-time monitoring to identify and address potential threats swiftly.

Security Methods

HitBTC’s security methods encompass:

Advanced Encryption: Protects data transmission and storage.
Two-Factor Authentication (2FA): Ensures that only authorized users can access accounts.
Cold Storage: Keeps most user funds offline to prevent hacking.
Regular Security Audits: Periodic checks to maintain and improve security standards.
Real-Time Monitoring: Continuous surveillance to detect and mitigate threats immediately.

History of Security

HitBTC has faced scrutiny over withdrawal delays and some security incidents in the past. However, the platform has taken significant steps to improve its security infrastructure over time, aiming to enhance user confidence and safety.

Conclusion

While HitBTC is a legitimate and generally safe cryptocurrency exchange with robust security measures, the lack of explicit regulation and past security issues should be considered. Users are advised to practice standard security precautions, such as enabling 2FA and using strong, unique passwords. Despite these concerns, HitBTC’s continuous efforts to improve security and compliance make it a viable option for trading cryptocurrencies.

Customer service

HitBTC offers a range of customer service options, including a detailed FAQ section, email support, and a ticketing system to address user queries and issues. The platform’s support team is available 24/7 to assist with technical problems, account-related questions, and general inquiries. Despite these resources, some users have reported slow response times and a lack of live chat or phone support, which can be frustrating during urgent situations. Overall, while HitBTC provides various customer service channels, improvements in response time and additional support methods could enhance the user experience significantly.

Pros

Cons

Read more about customer service in Hitbtc

Customer Support

Customer Support Methods: HitBTC offers several channels for customer support. Users can access assistance through a support webpage that features extensive knowledge articles covering the platform’s features, payments, KYC processes, and more. For direct queries, users can submit a ticket through the support center. Additionally, a chatbot is available for quick access to articles related to user queries.
Response Time: Despite the availability of multiple support channels, HitBTC’s response time has been a significant point of criticism. Many users have reported long waiting times for support ticket responses, often exceeding 24 hours. This delay has been a source of frustration, particularly for issues related to account verification and withdrawal problems.
Reputation and Customer Feedback: HitBTC’s reputation is mixed. On platforms like TrustPilot, it has garnered a “Great” score; however, it faces numerous complaints about poor customer support and delayed withdrawals. Users frequently voice these concerns on social media and forums, highlighting a recurring theme of unresponsive service and unresolved issues. Despite these problems, some users appreciate the platform’s extensive range of cryptocurrencies and trading features.

In summary, while HitBTC offers a variety of methods for users to seek support, including a detailed support center and ticketing system, the effectiveness and timeliness of this support are areas that require significant improvement. Users often face delays and unresponsive service, which detracts from the overall user experience.

Is hitbtc Right for You?

1. Advanced Traders and High Volume Users: If you’re an advanced trader or handle high trading volumes, HitBTC could be a suitable platform for you. The exchange offers a wide variety of trading pairs—over 800 pairs and 450+ digital assets—and advanced trading features such as margin trading and algorithmic trading via robust APIs. Its competitive fee structure is another advantage, with lower fees for higher trading volumes, making it cost-effective for frequent traders. 2. Users Prioritizing Security: For users who prioritize security, HitBTC provides several robust security measures. These include two-factor authentication, cold storage, and IP monitoring for logins, ensuring that user funds are well protected. The exchange has never been hacked, which speaks volumes about its commitment to security. Additionally, features like session termination and withdrawal whitelisting add extra layers of security. 3. Users Needing Comprehensive Customer Support: If you require comprehensive and responsive customer support, HitBTC might not meet your expectations. While the exchange offers a support center, ticketing system, and a chatbot, many users report long response times and unresolved issues. The mixed reviews and complaints about customer service indicate that support is an area where HitBTC needs significant improvement. In summary, HitBTC is ideal for advanced traders and security-conscious users but may not be the best choice for those who prioritize swift and effective customer support.

Hitbtc compared to other crypto exchanges

Threenvest score

4,4

Fees

0,10%/0,20%

US Legal

Security

High 4,9/5

Investing risks losing your money

Threenvest score

4,9

Fees

0,20%/0,40%

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

bitpanda

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

Supported Cryptocurrencies and Available Countries

HitBTC is one of the most comprehensive cryptocurrency exchanges, supporting over 800 trading pairs and more than 500 different cryptocurrencies. This extensive selection includes popular digital assets like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Litecoin (LTC), among many others. However, it does not support certain major cryptocurrencies like Cardano (ADA) and Polkadot (DOT), which might be a limitation for some users. HitBTC is accessible to users worldwide, but there are significant restrictions. Notably, residents of the United States cannot open accounts on HitBTC due to regulatory issues. Other restricted countries include Cuba, North Korea, Sudan, Syria, and Crimea. This makes HitBTC less accessible to users in these regions who might be looking to trade cryptocurrencies.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Ripple (XRP)
Litecoin (LTC)
Solana (SOL)
The Sandbox (SAND)
DYDX (DYDX)
Cosmos (ATOM)
Dogecoin (DOGE)
Chainlink (LINK)
Polygon (MATIC)
Binance Coin (BNB)
Shiba Inu (SHIB)
Stellar (XLM)
Tron (TRX)
Uniswap (UNI)
Aave (AAVE)
Avalanche (AVAX)
VeChain (VET)

Main countries where you can open an account

Canada
United Kingdom
Germany
Australia
Japan
India
South Korea
Brazil
Mexico
France
Italy
Spain
Netherlands
Singapore
Switzerland
Sweden
Argentina
United Arab Emirates
Turkey
Russia

FAQs

1. How do I withdraw money from HitBTC?

To withdraw money, log in to your HitBTC account, navigate to the “Accounts” tab, and ensure the funds are in your Main Account. Click “Withdraw” next to the currency you wish to withdraw, enter the amount, your wallet address, and any required two-factor authentication codes, then confirm the withdrawal.

2. Is HitBTC available to US investors?

No, HitBTC is not available to US investors due to regulatory restrictions. The exchange also restricts users from Cuba, North Korea, South Sudan, Sudan, Syria, and Crimea.

3. What are the trading fees on HitBTC?

HitBTC employs a maker-taker fee model. The standard fee for makers is 0.1%, while takers pay 0.2%. Fees decrease as trading volume increases, with the potential for rebates at higher tiers.

4. How secure is HitBTC?

HitBTC is considered secure, utilizing multiple security measures such as two-factor authentication, cold storage for most funds, email notifications for new IP logins, automatic logouts, and withdrawal address whitelisting.

5. Can I use HitBTC without verification?

Yes, you can use HitBTC without verification, but your account will have limited functionalities, such as lower withdrawal limits. To access all features, including higher withdrawal limits and fiat deposits, account verification is necessary.

6. How do I contact HitBTC customer support?

HitBTC offers customer support through a support center on their website. Users can submit a ticket for assistance, and a chatbot is available for quick access to related articles. The average response time is within 24 hours, although some users report longer waits.

7. What countries are restricted from using HitBTC?

HitBTC is not available to users from the United States, Cuba, North Korea, South Sudan, Sudan, Syria, and Crimea. Residents of these countries cannot open accounts or trade on the platform.

Final opinion on Hitbtc

HitBTC stands out in the crowded cryptocurrency exchange market due to its extensive range of over 500 cryptocurrencies and more than 800 trading pairs, making it one of the most comprehensive platforms available. Advanced traders will appreciate its wide array of trading tools, including margin trading and algorithmic trading capabilities, along with competitive fees that decrease with higher trading volumes. The exchange’s robust security measures, such as two-factor authentication, cold storage, and regular security audits, further enhance its appeal. However, the lack of support for certain major cryptocurrencies like Cardano (ADA) and Polkadot (DOT) could be a limitation for some users.

Despite its strengths, HitBTC does have notable drawbacks. The customer support system has been widely criticized for its slow response times and unresolved issues, which can be frustrating for users needing prompt assistance. Additionally, the exchange’s opaque corporate structure and the unavailability of services in key markets such as the United States limit its accessibility. Compared to other exchanges, HitBTC offers extensive trading options and security, but these benefits are somewhat offset by its customer service shortcomings. At Threenvest, we recommend HitBTC for experienced traders looking for a wide range of trading options and strong security, while advising beginners or those needing reliable support to consider these factors carefully.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money