HitBTC bills itself as the most sophisticated Bitcoin exchange and offers support for other currencies. The exchange is renowned for its affordable costs, quick transaction execution, and large selection of trading pairs. It offers markets for trading digital assets that are very liquid. The European-based HitBTC exchange is well-liked among experienced traders. It is a desirable exchange for experienced traders because of its broad selection of goods and services, very cheap trading costs (0.1%), straightforward user interface, and anonymous trading. Users may trade cryptocurrencies in addition to a wide range of currency pairings. In addition, it has created a voting app and a trial trading platform for newcomers that allows them to test out trading cryptocurrencies first. Additionally, it hosts several trading competitions that let users compare their abilities to those of other participants and get extra experience.

Background

In 2013, HitBTC was founded in Hong Kong as Hit Solution Limited. The startup received $6 million from angel investors. With a few exceptions, HitBTC provides service to most European and Estonian markets while also being widely accessible to consumers worldwide.

Services from HitBTC

One or more of the HitBTC exchange’s services include:

Trading environment

The main service provided by HitBTC is its trading platform, which provides sophisticated trading choices, a clean user interface, and demo trading accounts for individuals who aren’t yet ready to trade Bitcoin for real money.

OTC trading 

In collaboration with TrustedVolumes.com, HitBTC offers high-volume traders specialized OTC (over-the-counter) trading services. You must exchange more than $100,000 for each trade to use HitBTC’s OTC service, and there is a 0.1% transaction fee for each deal.

Token listing

HitBTC is a well-known marketplace where businesses who are releasing their coin may list them.

Margin trading

For traders looking to leverage their transactions, HitBTC offers cryptocurrency margin trading using the MetaTrader 5 Terminal.

API

HitBTC offers a variety of APIs, including the Financial Information Exchange (FIX) API and access to programmatic trading engines.

Trading fees at HitBTC 

HitBTC charges some of the lowest fees in the market. A creator charge of 0.1% and a taker fee of 0.2% are paid by unverified users. Verified users, however, are subject to HitBTC’s tier fee system, which sets trading costs following the user’s 30-day trading volume.

Deposit and withdrawal fees for HitBTC

It does not charge any fees for deposits or withdrawals of bitcoin. But withdrawals are subject to flat fees, which for certain recently launched cryptocurrencies might be very expensive.

HitBTC reward scheme

A rebate program is in place at HitBTC for its market makers, who provide the exchange reliable liquidity in exchange for a 0.01% reimbursement. Users will get a -0.01% refund on each successful transaction if they reach Tier 10, which is equivalent to trading 50,000 Bitcoin or more per month, according to HitBTC. It charges a liquidation fee of 0.5% of the position value in the stated currency if a trader liquidates a trading position to reach the liquidation price.

HitBTC safety precautions

HitBTC excels at security. As a result, it has never been hacked previously, or at the very least, no such cases have been reported. Though the information hasn’t been verified, several sources claim that HitBTC, the BTER exchange, and the Excoin exchange were all compromised in a breach at the beginning of 2015. One benefit is that customers may add a second level of security by configuring two-factor authentication for all of their transactions. The user may see all logins to their account in the Security section of the Settings menu and check to see if an IP address or location they are unfamiliar with was used to log in. Additionally, users have the option to click a button that ends all sessions other than their own just in case someone else is currently signed into their account. They may also decide to automatically log out of all sessions at a predetermined, regular frequency at the same time. In addition to these choices, HitBTC customers have the following security options to safeguard their accounts:

• whitelisting of crypto wallet addresses
• robust password
• two factors authentication (Google Authentication)
• the general second factor (Yubikey)
• tool for ending sessions and activity log
• custody for cold storage
• after 30 minutes of inactivity, auto logout occurs.

You’ll see that it requires you to activate 2FA measures on your account as soon as you join up. Some exchange functions will be restricted until you do so, which is advantageous for your security.

Supported currencies

Including Bitcoin, Ripple, Ethereum, Stellar, and more, It offers over 800 trading pairings. Users may also access upcoming cryptocurrencies. Users may choose between currency pairings that use cryptocurrency and fiat money.

Supported nations

HitBTC is accessible worldwide. However, according to its terms and conditions, neither individuals nor citizens nor corporations from the following nations are allowed to use its services: Cuba, Sevastopol and Crimea, North Korea, Sudan, Syria, the US, and any other country or territory on whom America has imposed sanctions. You must declare that you are not a resident or citizen of any of these countries when you join the site.