As soon as the strong password is set and the account is created, it’s important to enable 2-factor authentication. This protection measure can be turned on via the Google Authenticator app or a similar authentication application. The app generates one-time short passwords that can be used in 30 seconds. No one except for the account owner can’t log in or at least can’t do that without taking a user’s mobile device. Another 2fa option is using a Yubikey device, a physical USB key for authorized access to accounts. It allows users to log in or perform 2fa much quicker.

Top 8 Cryptocurrency Wallets For Your Digital Assets In 2024

This approach not only streamlines the problem-solving process but also reflects a user-centric philosophy that places a premium on trader education and autonomy. Customer support on HitBTC is accessible through multiple channels, HitBTC Review including an online support form and direct email address. While there have been mixed reviews regarding response times, the exchange makes an effort to address queries and resolve issues, ensuring users have support when needed.

Why is eToro a Good Alternative to HitBTC?

• When depositing, you need to prove your identity (for instance by a passport copy).
• Then, enter the destination address, the amount to withdraw, and any other required information.
• Finally, for the International bank wire (SWIFT), users have to pay $9 as the fee.
• That’s one of the most democratic trading fees policies in the industry, especially among the big players.
• HitBTC is known for the fact that thanks to the API, the exchange can be quite friendly to people who are involved in the creation of trading bots.

Do not forget that cryptocurrency exchanges have a tendency to close the registration of new users but also often close the wallets of different coins for servicing. Margin trading was made available on HitBTC in July 2020. It means that traders can borrow huge funds from the exchange using their own money as collateral. As bigger orders bring bigger profits, more money lands in the trader’s pocket after she/he returns the borrowed coins to the exchange. However, it’s worth mentioning that in the case if the market fails the trader and the orders are executed in a loss, there’s a risk to lose all the collateral or even more.

Is hitbtc a scam or a legit company?

Both Huobi and HitBTC provide intuitive trading platforms suitable for all kinds of traders regardless of their experience. The convenience is maintained by the opportunity to access platforms via mobile apps. There are no fiat money pairs on both https://www.tokenexus.com/ exchanges, however, people may buy cryptocurrencies paying in national currencies. It is a regulated company with headquarters in San Francisco. The service appeared in 2012 and in the first two years managed to attract more than a million users.

• Trading fees for traders with verified accounts on HitBTC are lower than on Binance.
• In the fall of 2016, a service was added that allows you to trade USD and EUR.
• The exchange was leaving a gray area at that time and didn’t meet multiple strict requirements of US law in the sphere of cryptocurrencies.
• These documents can be used to obtain access to your other crypto platforms.
• HitBTC exchange offers beginners the chance to practice trading cryptocurrencies on its demo platform first.

Customer Service Experience

• While it provides services globally, the availability of certain features may vary by region.
• No one can use HitBTC until they confirm that they have read the terms and conditions, which contains a list of documents that the company can request from the user.
• This major platform offers everything that HitBTC has and beyond.
• In the “Amount” box, enter the amount of cryptocurrency you want.
• Hence, if you want to have a real trading experience without risking anything, you should definitely give it a try.
• Still, any exchange with the most cutting-edge technology is going to attract traders.

For the most part, the exchange has remained relatively secure. Today, the exchange offers two-factor authentication as a security measure. You can activate 2FA for tasks like login, fund withdrawal, and setting adjustments.

KYC requires several online encounters with the support team members. In the cases, when each message takes a long time to be answered the withdrawals get delayed as they require the KYC completion. It contains information about new trading pairs on the exchange, the choice of a trading pair, the rate chart of the selected trading pair, the open orders of other users, etc. As the exchange striving to satisfy all possible needs of its customers HitBTC couldn’t avoid providing such a feature as OTC trading. OTC (or over-the-counter) trading is a service allowing to trade apart from the public order book. OTC trades don’t affect the monitored market and are not influenced straight by the market prices.