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HitBTC
RankHitBTC
Name
Volume (24h)
Visits
Avg.Liquidity
No.Markets
Launched
Volume Graph
HitBTC
000
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HitBTC is an advanced cryptocurrency exchange based in Hong Kong, founded in 2013 and launched in February 2014, specializing in spot trading of altcoins. It boasts of being created by experienced system architects, technologists, and financial experts, although most of the HitBTC team remains anonymous. The company reportedly started with a $ 6 million venture capital investment. It is also one of the few exchanges open to bots, providing a number of APIs that help tech-savvy clients trade automatically.

In recent years, HitBTC has become a leading exchange in terms of market liquidity, competing with exchanges such as Bitfinex and Binance.

It is important to note that HitBTC is an unregulated exchange, although it complies with KYC (know Your customers) and AML (anti-money Laundering) regulations. It also values user data and privacy, and is fully compliant with the GDPR, as you can remove your data from the exchange at any time.

The exchange also works with individual and corporate clients, and has offices around the world, including London, Malta, and Rio de Janeiro. Rio de Janeiro, Santiago, Hong Kong, Beijing, and Singapore.

Trading Characteristics

HitBTC is a global exchange, and supports the trading of more than 800 trading pairs. However, the terms and conditions state that citizens and residents, as well as companies from the following countries, cannot use its services:

  • United States of America
  • North Korea
  • Sudan
  • Crimea and Sevastopol
  • Cuba
  • Syria

HitBTC offers one of the widest sets of cryptocurrencies available for trading, and is one of the first exchanges to attract new projects. It offers a number of APIs, such as REST, WebSocket, and FIX API. HitBTC users can use trading bots that work well with a reliable API platform.

The user interface has been designed to meet the needs of the most demanding and sophisticated traders. Users can benefit from discounts and competitive trading fees through a system of trading fee tiers.

HitBTC also offers a demo account for new cryptocurrency traders. Everyone can try out its platform without making a deposit.

In addition to basic verification, professional traders may want to upgrade their account to PRO status with the help of HitBTC's UK partner, Bequant Technologies. The service is available via bequant.io it is intended only for institutional and professional traders.

Overall, these features make HitBTC one of the best altcoin exchanges in terms of available markets and liquidity. 

HitBTC fees

Cryptocurrency trading on HitBTC has a simple commission structure. It does not charge a commission for deposits in cryptocurrency, but bears the costs for placing orders and withdrawing funds from the platform.

HitBTC's trading fees are among the lowest in the industry. Unverified users pay 0.1% fees and 0.2% taker fees. Meanwhile, verified users end up in HitBTC's multi-level commission system, which determines the fee for trading based on the user's trading volume over the past 30 days.

Once you reach level 8, i.e. trading 50,000 BTC per month or more, HitBTC will start paying you a discount of -0.01% for each completed trade.

When it comes to depositing and withdrawing cryptocurrency, there is no commission for making a deposit with HitBTC. However, there are fixed withdrawal fees, and they can be particularly high for some of the new cryptocurrencies listed on the site. In this regard, the HitBTC withdrawal fee is one of the highest among all cryptocurrency exchanges.

Safety

HitBTC remains one of the few exchanges that have not been hacked before. It is reported that the security of users is ensured through strict procedures, including cold storage and encryption technologies. HitBTC also offers two-factor authentication and various whitelists. 

The platform has an LD4 data center in London, which has reportedly reduced latency when accessing data, and expanded the technical capabilities of the platform. 

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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