Everything you need to know about the HitBTC exchange

Cryptocurrencies are becoming more popular every day. So many people are looking for how to exchange fiat money for cryptocurrency. There are many different ways to get your first crypto, but the most convenient ones are using exchange platforms. Today we are going to take a look at one of such trading platforms called HitBTC. HitBTC confidently ranks among the top cryptocurrency exchanges in terms of daily trading volume. Although liquidity is a very important metric for a trading platform, it is far from the only advantage of this platform. 

General information about the HitBTC exchange

HitBTC exchange is a platform created in 2013 by Israeli entrepreneurs and Estonian experts that allows you to trade over 300 cryptocurrency pairs. HitBTC exchange was launched back in 2013, and the investments received amounted to about $ 6 million.

In February 2014, the HitBTC cryptocurrency was officially launched with the support of the following currency pairs: BTC / USD, BTC / EUR, BTC / LTC, and USD / EUR. In April of the same year, the developers launched demo trading, and a little later, an altcoin-based voting application. Thanks to this, users can choose which cryptocurrencies to add to the exchange.

In 2016, a service was added. It allows you to trade US dollars and euros. Thus, after the verification procedure, the user can deposit fiat money into the exchange account and go directly to trading operations with digital currency. HitBTC was created with a view to users of different levels and degrees of skill in cryptocurrency transactions, so the design focused on simplicity and ease of use for most people.

At the moment, in the rating of trading platforms with the highest daily trading volume, the cryptocurrency exchange HitBTC is among the 30 best exchanges. The total trading volume of the exchange in 24 hours is $ 750 million. The largest volumes are represented by Bitcoin (~ $ 175 million), Bitcoin SV (~ $ 171 million), Ethereum (~ $ 57 million), Ripple (~ $ 26 million), Bitcoin Cash (~ $ 41 million).

HitBTC is one of the most trusted exchange platforms with a strong satisfied customer base. Over the years, the service has been newbie-friendly due to its user-friendly interface. HitBTC has around 85 available trading pairs and 370 coins.

HitBTC provides its services all over the world without restrictions. The company focuses on the Estonian and European markets. However, the HitBTC crypto exchange is easily accessible to customers from around the world.

The site developers took care of their users who can trade day and night, so they developed two types of design – day and night.

The cryptocurrency exchange interface is available in 5 languages: English, Spanish, Chinese, Korean, and Portuguese.

Main characteristics of HitBTC exchange

Experts agree that the strongest advantage of the exchange is the availability of modern and convenient services: current exchange rates, charts, news, descriptions, transaction history, etc.

Indeed, the cryptocurrency exchange HitBTC allows you not only to profitably sell/buy/exchange various digital coins but also to keep abreast of the general market situation in the country and the world, have modern numbers, and track their dynamics.

Also, a big advantage for advanced traders is the API for using bots that help automatically trade cryptocurrencies.

HitBTC ranks first in the global cryptocurrency market in terms of liquidity (according to CoinMarketCap).

There is a list of benefits and great features that HitBTC can provide to users:

  • A wide range of cryptocurrencies;
  • There are no restrictions on the deposit or withdrawal of digital assets;
  • Advanced engine selection technology;
  • A wide range of tools are available (over 500);
  • The most advanced API on the crypto market (REST and FIX APIs);
  • Simple yet extensive interface;
  • There is the possibility of joint trading with other users, which allows you to earn more for both parties.

But nothing is perfect, and some things can be improved:

  • It is impossible to use a credit card;
  • There is a rounding of the minimum bet, which is inconvenient.

Commissions

There are the following types of commissions on the HitBTC exchange:

Deposit and withdrawal fees

HitBTC does not charge a deposit fee. However, there are fixed withdrawal fees. There are also exchange trading fees, such as buying one currency for another. In this case, the commission is 0.1% of the total amount paid by the buyer.

Trading commissions

HitBTC uses a producer-receiver model intending to maximize liquidity and narrow spreads in cryptocurrency markets. Producers are encouraged to continue to add liquidity to the market.

The main purpose of producer-buyer commissions is to stimulate trading activity within the exchange, increasing the incentive to place orders and making trading easier.

How to use HitBTC?

There is nothing difficult on the main page – only basic information. Most of the page is occupied by charts and graphs with the trading volumes of the leading cryptocurrency pairs. In addition to the trading volume, the chart contains the following information: the latest price, rate changes, 24-hour trading volume, and buy/sell offer.

On the right side, there are registration forms and a button to enter your account, if you are already registered.

How to register on the exchange

You can easily and quickly register on HitBTC with just a few clicks. The system registers each new user who has entered an email address and password (at least 6 characters, including the capital letter and number) on the official website of the exchange.

This can be done either in the same window on the main page of the site, or through the “Register” button (in the upper right corner). In the other case, the registration form will open on a separate page.

After providing your email address and password, you will be asked to provide your country of residence, full name, and telephone number to complete the registration process.

Next, an email will be sent to the specified address asking you to verify your account.

Verification process

A feature of HitBTC is the ability to trade without checking your account. To work exclusively with cryptocurrency, there is no need to leave any personal data in the system. Verification is only necessary if you plan to work with fiat money. If you want to fund your account or withdraw currency, you will need the following information: name, country, and address of residence, date of birth, bank account information, views of relevant documents, etc.

HitBTC has 3 levels of account verification, each of which provides the user with different options: Starter, Trader, and Pro. Upon completion of the verification, you will be given the equivalent of 100 BTC per day and unlimited monthly payments. If you are a professional trader or institution and require higher limits, take the PRO verification level.

Is it safe to use HitBTC?

The platform was created by eminent technicians, high-level financial experts, and seasoned traders, which is why HitBTC offers one of the most reliable, fast, and powerful platform solutions on the market.

The HitBTC platform has earned a reputation for being fast, safe, and affordable. The main engine of HitBTC is one of the best technology products in its class. It offers traders a wide range of features such as checking coins in real-time and removing them from the exchange in case of problems. 

HitBTC protects its users with two-factor authentication, which can be set separately for each transaction in the settings. Also, in the Security section of the Settings menu, the user can see the input from various devices in the account, where he/she can see information such as IP address and location. Also, if you notice anything suspicious, then you can end all sessions. This feature can be automatically configured for a specific period so that (for example, once a day) all sessions of the account are terminated.