March 16, 2020 -

What is HitBTC?


In 2013, as a result of the collaboration of Estonian specialists and Israeli entrepreneurs, a convenient platform was created for trading a large number of cryptocurrency pairs, the list of which is updated regularly. In February 2014, the official launch of the HitBTC crypto exchange took place with support for the following currency pairs: BTC/USD, BTC/EUR, BTC/LTC, USD/EUR.

In April of the same year, the developers launched a demo trading and later – an application for voting based on altcoins. Thanks to it, users can choose which cryptocurrencies should be added to the exchange. In the fall of 2016, a service was added that allows you to trade USD and EUR. So, after the verification procedure, the user can enter fiat money on the exchange and go directly to trading operations with digital currency.

HitBTC was created with the expectation of users of different levels and degrees of training, so when developing the design, the emphasis was on the simplicity and ease of use of the interface for most people. Demo trading allows all potential clients to get used to the trading platform before making real money on it. Now, you can answer the question, “What is HitBTC?”. 

How to use HitBTC

Novice users sometimes don’t know how to buy on HitBTC. You can work on the exchange and trade cryptocurrencies immediately after creating an account and adding funds to your balance. To do this, go to the section “Exchange”. The working space of the interface is well structured, has convenient to use tools, and everything is clear and logical. On the right side is the “Instruments ” section, where you need to select a trading pair.

Please note that the ICO tab is also available on the exchange. Here you can find crypto money that is traded on an ICO. On the left side, there is a graph that can be scaled and moved to any convenient place in the working window.

According to HitBTC review, it is quite easy to register on HitBTC. Below there is a section with open and closed orders and transactions, as well as a toolbox with the ability to select the chat language (there are 13 languages available). Now, you know how to use HitBTC. 
Novice users also often ask about HitBTC fees. The commission payment for instant transactions charged by the HitBTC exchange is 0.1%. For all other transactions, the commission fee is 0.01%. Until recently, all cryptocurrency deposits on HitBTC were free. But since December 22, 2017, users of the HitBTC exchange have to pay a commission for Bitcoin deposits. 

Of course, this news caused dissatisfaction among the clients of this trading platform because the commission for depositing Bitcoins is fixed and quite noticeable – 0.0003 BTC. Moreover, if you want to deposit 0.0003 BTC or less on HitBTC, the commission will simply “eat” your deposit. Due to this, the exchange is no longer suitable for people with small Bitcoin deposits and young businesses. It is enough to estimate that the commission for the transfer of $100 BTC will be about $28 to understand that the operation seems doubtfully profitable.

This is not a very pleasant novelty for users due to high commission fees within the Bitcoin network, and the exchange is trying to protect itself from losses somehow. Moreover, according to the company’s representatives, these measures will have a positive impact on the functioning of Bitcoin as a whole.