Crypto Comparator Update

Even if a hacker manages to breach your email and attempts the withdrawal, HitBTC will block it. To the date, the site does not offer margin trading, but a recent blog entry indicates that they are working on having the feature up and running.

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HitBTC was founded by using 6 million euros of venture capital money. It has not been revealed yet, who was the founder of this website, or the mastermind of this platform. It looks to simply be a venture by a company who thought it would be a good idea to start a cryptocurrency exchange. The Chicago based company, Hit Tech limited were responsible for HitBTC. Despite any difference in opinion, Cryptopay tokens are still listed on HitBTC exchange, meaning that the relationship is not completely over.

This feature is one of the rarest provided by any platform. HitBTC makes it easy for very large transactions to go on safely on their platform. Any platform that supports margin traders may have just won the heart of most traders as there is nothing traders appreciate more than trading with leverage. The traders can take much more risk in trading with the possibility of making more profits while spending the least amount of money. For all the positives that surround the HitBTC exchange platform, one would think that they have always been perceived as saintly from the jump. They have been accused of several issues including freezing accounts. When the account of a customer is frozen, they are not able to withdraw their funds.

Once this is done, you will have to select the type of permissions you would like the key to. This gives you access to the same liquidity pools as Coinbase Pro but with much more refined service. This means that it may not be ideal for those traders who value privacy and would prefer to trade on an anonymous exchange.

The main reason why TradeSanta looks outstanding in the crypto market is the variety of automated trading options it offers. Despite the complexity of the trading process, this platform makes the process simple, fast, and beginner-friendly. The number of exchanges supported is constantly growing and the connection process seems very easy and fast, so you can start trading almost immediately after registration. Hosted in the cloud the platform is absolutely secure and does not require much time to monitor the process since there are many tools to eliminate risks and get the most of trading profits. HitBTC provides round the clock customer support for their customers. Anyone that has had any experience with a platform with poor customer support can relate to how difficult it makes trading.

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Customers and traders will often run into technical situations that will require extra attention from the platform. This support is expected to always be available whenever they come knocking for help and answers. Some other platforms limit their customer support at providing answers to frequently asked questions only, but the needs of traders and customers are more than that. HitBTC responds in a lot of languages, which makes it easy for different nationals to access support or assistance whenever they want.

hitbtc review

The last ones are necessary to benefit from the price fluctuations and adapt original trading strategies to new circumstances. Because cryptocurrencies are unregulated, there is a certain legal risk for the consumer who uses them. One must be careful about the cryptocurrency exchange platforms used as well as their regulation. The largest cryptocurrency trading platforms offer fees that are generally in the low to mid-range. The platform, as mentioned earlier, offers over 400 digital currencies. The major cryptocurrencies are not left out in the collection.

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The interface of HitBTC has been described by its users as stress-free. Struggling to navigate or use an interface is frustrating, and there are few traders that have the patience for such complexity, and in all honesty, no one should have patience.

  • Only after going through these help articles do the users get to receive an option to connect to the support team through a contact form, after which their question is answered accordingly.
  • The first or main account is used for the storage of cryptocurrencies.
  • If the backup code is unavailable too, please fill in this form.
  • It usually takes several hours for a deposit request to process.
  • This is especially strict for the normal individuals that use the platform but are not verified professionals.

It means that you make your deal directly with the counterparty without affecting the market price of the coin or token. Coinbase Pro has exactly the same security procedures that are in place at Coinbase. For advanced traders running complicated trading strategies, a wide range of available trading pairs is absolutely essential. Also users can make up to 30 free withdrawals during a period of calendar month. A small downside comes in a form of the canned responses, but even when this is the case, the response is detailed and provides all the information required by the user.

With all the issues and controversies surrounding user experience, it would be a logical choice to find another option to trade new and obscure coins. Sebastian’s success with Bitcoin and cryptocurrency trading started when he discovered BinBotPro. An automated trading software that functions through the use of high frequency trading. Meaning, it makes high-speed algorithmic trades that take advantage of the volatility present in the cryptocurrency marketplace. The profits per trade may not be that much, but when you run the program 24 hours a day these little trades can add up to quite a bit of money. Trading cryptocurrencies has been a big break for Sebastian, who struggled for months going from one dead end job to another. “I lost my job a year ago and since then have been unable to find a steady paying job, but with BinBotPro I was able to create a passive income stream that put money in my pocket daily.”

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The spreads are competitive, and that is what traders pray for. Most platforms put the burden of the charges on either the buyer or the seller. The other terms it could be referred to, are maker and taker transactions. These platforms make the burden of the fee difficult for one side of the transaction then free for the other. HitBTC splits the charges or fees between both sides of the transaction.

Without verifying your account, you may not be able to trade in as high volume as you might want to. The only way through which you may make deposits in your HitBTC account is through bank transfer. They do not allow deposits through PayPal, debit card or credit card. Basically meaning there are two deposit methods; bank transfer or through cryptocurrency from an external wallet. With the recent rise in banks stopping people buying cryptocurrencies with credit card, hitBTC may have saved themselves a trick here. Our Team aims to ensure appropriate support for all the users and we strive to assist with every query whatever the circumstances are. Nicholas Spann , This is a much more secure method given recent reports of sim jacking.

In Quebec, the authorities regulate cryptocurrency platforms in order for them to be authorized or not to operate in the territory. Businesses that accept certain cryptocurrencies as payment must report the GST and QST accordingly, like any other good or service. To learn more about the GST/QST refund, read our dedicated guide. In Quebec, cryptocurrencies are not regarded as currencies but are rather considered as goods. When a cryptocurrency is used as a payment method, the action is considered as barter by the Quebec authorities. In order to know which cryptocurrency to invest in for 2021, all the elements that can positively or negatively impact the cryptocurrency’s price are worth watching. The popularity of use of a cryptocurrency also influences its demand and price.

Trading Platform

HitBTC is a good alternative for casual traders, people with no need to move their money frequently in and out. HitBTC did experience a hack in , but have been mostly secure ever since.

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The exchange lets you buy Bitcoin vouchers as gift cards that you can then give to family members, friends, and co-workers. Sort of — The exchange puts all of your trading information onto a single pane, which is probably nice for institutional investors, but would probably be overwhelming for most beginners. Gox exchange, so you can clearly see who won that competition! Firstly, we have to take issue take issue with their customer support.