HitBTC Review How I Lost $3000 dollars and counting .. 2022 updated

HitBTC Review

While such a verification process is quite regular to all crypto exchange platforms that take security seriously, it might take a while to provide all the needed information. The very first aspect that multiple HitBTC reviews distinguished is the fact that this crypto exchange has poor customer support. HitBTC offers some of the lowest fees in the market.

HitBTC Review

While this includes a direct bank transfer, the platform does not support debit/credit cards or e-wallets. One of the main selling points to HitBTC is that the platform offers some of the cheapest fees in the cryptocurrency exchange arena. Nevertheless, on this platform, users can deposit funds using real-world money through direct bank transfers. It does not support debit/credit cards and e-wallets. The MSP (Main Selling Point) of Hitbtc is its highly competitive fees, as it offers the lowest prices in the crypto market. Today I want to share my experience with the HitBTC exchange.

Avoid this exchange if you can

We sincerely hope that the support team on the receiving side will be able to provide you with more information and a suitable solution of this issue. After reviewing many exchanges, these problems don’t sound so unusual to us (unfortunately). HitBTC Review As with Russian crypto exchange YoBit, HitBTC’s formerly reliable service has devolved into a model with all of the earmarks of a common scam. Angry users are many, and HitBTC can’t be seen as an option for crypto users.

  • There is a plethora of charting functionality, analysis tools as technical indicators.
  • What’s more important is that people who have to wait for the support team response, eventually get this response.
  • Please note that KYC is not requested from every trader.
  • A form opens with a QR code and the number of the generated wallet.
  • I am sorry to admit that in this case we need a while longer to complete the work on DOGE wallet.

HitBTC takes first place in the global cryptocurrency market in terms of liquidity (according to CoinMarketCap). The exchange was leaving a gray area at that time and didn’t meet multiple strict requirements of US law https://www.tokenexus.com/beam/ in the sphere of cryptocurrencies. So, beginning with 2019 the residents of any of the states of the United States of America are not allowed to trade on HitBTC. The support team has provided you with instructions.

HitBTC Features

What’s more important is that people who have to wait for the support team response, eventually get this response. The support team doesn’t leave them over and solve their problems as soon as they have time for that. That’s one of the most democratic trading fees policies in the industry, especially among the big players. HitBTC is explicitly limiting the participation of low volume traders in the OTC trading — the minimum trade volume allowed in the OTC desk should be equivalent to 100,000 USDT. The OTC trading fees are higher than the usual trading fees on HitBTC. The OTC desk on HitBTC is provided in partnership with Extendeddealer.com.

HitBTC Review

There is a plethora of charting functionality, analysis tools as technical indicators. The MT4 platform is no doubt one for professional traders who do a great deal of technical analysis. As more exchanges come under the scrutiny of regulators, verified accounts are slowly becoming mandatory. So it would perhaps be best to get verified now before they require mandatory verification. I was reluctant to sign up with any company offering binary options trading after my initial
Experiences went terrible, but after some research I found h̲e̲l̲p̲@̲b̲a̲y̲c̲o̲r̲d̲.

HitBTC Mobile App

The key reason for this is that we cannot ensure your funds are in safe hands. Firstly, the platform is not in any way regulated, which is a major concern considering they’ve been around since 2013. Furthermore, there is a huge number of negative reviews about HitBTC, many of which centre on hacked accounts. Ultimately, we feel much more comfortable depositing funds with a cryptocurrency exchange that is heavily regulated. The likes of Coinbase hold licenses with both the FCA (UK) and CySEC (Cyprus).

We don’t know why HitBTC has started to suffer, and we don’t know what’s going on within the company itself. But it’s clear that the issue has moved beyond simple negligence and that the company is not an active part in the restriction of some users’ access to their own capital. This is a distressing development for a well-known, high-quality exchange, once known for its wide range of supported assets and ease of use. But this is one of the possible outcomes for a financial services industry that is not well-regulated, and which has so much money pouring through it at all times.

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