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      Blockfer does not recommend trading on HitBTC
HitBTC

HitBTC is an unregulated cryptocurrency exchange with no supported fiat deposit or withdrawal options. The exchange has been operational since 2013 and claims to be headquartered in Hong Kong. There is little public information available on the company’s leadership structure, legal status, and asset security practices.

HitBTC Exchange - 2020 Comprehensive Review

Overall Score:

3.5
Not Trusted
Liquidity:
7.5 of 10
Purchase Options:
5 of 10
Ease of use:
5 of 10
Trust:
2 of 10
Fees:
7 of 10
Support:
2 of 10

HitBTC Exchange Overview

Trading Fees Maker: 0.07% / Taker: 0.07%
Exchange Type Centralized
Fiat Trading No
Purchase Options Crypto Deposits
Android App Yes
iOS App No
Trading Options Spot Trading
Order Types Limit, Market
Exchange Token No
Token Benefits NO TOKEN
Charting Software TradingView
KYC Check Yes
KYC Rules Required For Withdrawals Greater Than 1 BTC Per 24 Hours And 5 BTC Per 30 Days
IEO Platform No
Education Resources No
Convert Micro Balance No
Institutional Accounts Yes
Trading API Yes
Deposit Insurance No
Withdrawal Speed Slow
Customer Service Support Ticket System
Promotions Frequent Trading Competitions.

HitBTC Mobile App Features

Deposits

Yes

Withdrawals

Yes

Price Alerts

Yes

Margin Trading

No

Margin Funding

No

Live Chat Support

Yes

HitBTC Trading Fees (Maker & Taker)

TierMonthly Volume RequirementMakerTakerMaker
Discount
Taker
Discount
Level 1$1.000.07%0.07%--
Level 2$10,000.000.06%0.06%--
Level 3$5,000,000.000.05%0.05%--

*All new users should expect maker fees to be 0.1% and taker fees to be 0.2%.

Upgrading to higher tiers requires KYC verification.

Information on trading fees for higher tier levels is available here.

HitBTC Withdrawal Fees

HitBTC withdrawal fees are both flat and dynamic. The exchange adjusts withdrawal fee amounts on a constant basis and claims this policy is implemented to ensure funds arrive quickly when the network load is heavy.

Deposit fees are deducted from the amount of the incoming transaction. Users can find the deposit fee amount for any crypto asset below its corresponding deposit address.

HitBTC Markets & Volume

Rank

18

Total Assets

349

Total Markets

815

Volume 24h

$1,297,266,364.91

Volume 7d

$7,031,063,390.41

Volume 30d

$26,778,585,827.94

HitBTC Top Markets

Crypto AssetsPricePairs24h Volume
BitcoinBTC$16,894.53311$550,789,415.17
EthereumETH$463.90227$197,257,936.02
XRPXRP$0.257$17,362,569.49

HitBTC Supported Stablecoins

Stablecoin AssetsPricePairs24h Volume
TetherUSDT$1.20178$802,036,386.18
USD CoinUSDC$1.005$11,793,568.79
TrueUSDTUSD$0.9913$2,266,824.15
DAIDAI$1.2015$2,178,243.23
Paxos StandardPAX$1.004$208,456.62
STASIS EURSEURS$1.0815$44,926.20

HitBTC Exchange Alternatives

Rating3.5/107.5/108.5/10
Trading FeesMaker : 0.07%
Taker : 0.07%
Maker : 0.1%
Taker : 0.1%
Maker : 0.1%
Taker : 0.1%
Fiat TradingNoYesYes
Purchase OptionsCrypto DepositsCrypto Deposits, Credit CardsCrypto Deposits, Credit Cards
Trading OptionsSpot TradingSpot TradingSpot Trading, Margin Trading, Margin Funding, Futures Trading
IEO PlatformNoYesYes
Mobile AppsNoYesYes
HeadquartersHong KongHong KongMalta
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Trading Fee Discounts - HitBTC offers trading fee discounts to high volume traders who upgrade their accounts by completing a KYC check.

Cons

  • High Fees - HitBTC withdrawal fees are inconsistent and higher than the industry standard. The flat and dynamic fee structure is confusing and has led many users to question HitBTC’s transparency and ethics. HitBTC is one of the few exchanges that charges fees on crypto deposits.
  • Poor Reputation - Numerous reports on Reddit and other forums claim HitBTC has stolen user funds.
  • Unknown Leadership - Basic facts including who owns the exchange and its legal domicile location have not been verified.
  • Low Quality Listings - 370+ crypto assets and 890+ trading pairs are available for trading on HitBTC. The majority of these listings are low cap altcoins with minimal liquidity.
  • Maintenance Issues - It is common for HitBTC to perform system maintenance on crypto asset wallets, causing deposit and withdrawal shutdowns for extended periods of time.
  • KYC Required - Users who do not complete a KYC check have a daily withdrawal limit of 1 BTC and a monthly withdrawal limit of 5 BTC. Some users have alleged HitBTC utilizes an unusual KYC process that requires them to provide sensitive private information. The company has been accused of preventing crypto asset withdrawals and stealing customer funds kept on the exchange.
  • No Margin Trading - HitBTC does not natively support margin trading and directs users to a third party service offered by Weltrade.
  • No iOS App - HitBTC currently only has an official Android mobile app. Users should be aware that there are several fake HitBTC apps in the Apple App Store.

Frequently Asked Questions

Does HitBTC require KYC?

Is HitBTC safe?

Does HitBTC have a mobile app?

Does HitBTC offer margin trading?

Does HitBTC allow US customers?

Summary

HitBTC began operations in 2013 and at the time, was one of the few exchanges available for trading crypto assets. Over the past few years, the reputation of the exchange has declined considerably due to numerous reports of stolen funds, account freezes, legal battles, and more.

These issues have been increasingly publicized over time and the company has had several years to address these allegations. Improvements have not been made and communication from management has been infrequent. As a result, user trust has reached an all-time low.

Overall, Blockfer does not recommend trading on HitBTC. There are far better options available to both retail and enterprise grade crypto asset traders and investors.

Legal & Regulation - Facts & Figures

Legal Name HIT Solution Ltd
Incorporated Country Hong Kong
Headquarters UNKNOWN
Year Founded 2013
CEO UNKNOWN
Total Employees UNKNOWN
Regulators Not Regulated
Links Website, Crunchbase, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The cryptocurrency exchanges found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our exchange reviews and comparisons include: liquidity, purchase options, user experience, trading fees, trading options, listed assets, reputation, mobile experience, and customer support.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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