Today we review HitBTC.com for you. What is HitBTC? How does it work? What do you get? Is it for you or should you look at other alternatives instead? This is just a few of the many questions this short review helps you answer!
Name of the Company: HitBTC
Official Website URL: https://hitbtc.com/
Owner: HIT Solutions Limited
Overall rating: 
(3.2 / 5)
Recommended? : Not recommended
P.S.
Learn about my #1 recommended Bitcoin exchange on this page
Or,
** Learn about my #1 recommended Bitcoin IRA solution on this page here
Intro
One of the questions I have been getting over the past few months is “What is HitBTC?” I, therefore, decided to address that question in this review. I will present the most pertinent details about this company, in a bid to ensure that you get just the information that you are looking for so that you can make your investment decisions. The main areas we shall look into include:
- What is HitBTC?
- How does it work?
- What does it offer?
- How are its products and services priced?
- Is it a genuine company?
- Which is the best alternative to HitBTC?
- Which are the main advantages and disadvantages of HitBTC?
What is HitBTC?
HitBTC is one of the most famous Bitcoin exchange platforms in the world. It has been in existence since 2013 and has gradually been taking over the crypto trading space. This platform is wholly owned by the Hong-Kong based firm known as HIT Solutions Limited.
Every feature of the HitBTC platform is a display of the amount of talent and genius that was put into its development by some of the best traders, finance experts and leading software developers. This is evidenced by the system’s matching engine that has features like real-time clearing and very advanced order matching algorithms.
Those who have already accessed and used HitBTC have lauded it for its very high availability, uptime, as well as fault tolerance. HitBTC is also very developer-friendly and allows those creating trading bots to connect with the API provided. This has made it very easy for crypto traders to improve their efficiency and to bring their best tools onboard, in a bid to guarantee continued success.
How does it work?
If you want to trade cryptos on HitBTC, you must first create your user account. The registration process is quite direct and you will barely take more than a minute completing it. Immediately after confirming your email address, you will be required to fund your account with FIAT currency for you to begin trading. You are required to reach out to HitBTC through the email address compliance@hitbtc.com for your account to be verified.
Some of the details that you will be required to submit include:
- Personal identification details as seen on your official documents.
- Your address
- Your bank account information. (and proof of bank account ownership )
- Proof of residence
New users are requested not to provide screenshots and electronic documents as proof of bank account ownership or as proof of their residence. The proof you provide should be paper-based and should be presented on an original bank letterhead.
Depositing funds into your trading account takes up to two weeks, so you will have to be patient as the transaction is completed. The withdrawal of funds, on the other hand, takes up to 20 business days.
Services offered
Signing in to HitBTC allows you to have access to several services, including:
A trading platform – The main service that you access on the HitBTC platform is a trading platform that has superior features. The user interface is quite appealing and easy to navigate, a thing that makes it possible for you.- Token Listing – If you are a company seeking to issue your tokens, then you can easily do this on the HitBTC platform.
- Margin trading – Traders who are after leveraging their trading can do so through HitBTC’s MetaTrader 5 Terminal. This terminal enables traders to do cryptocurrency margin trading.
- API Access – as already introduced, HitBTC is prominent for the provision of a couple of APIs that developers can access and use them to improve their trading efficiency.
- OTC Trading – Buying or selling large volumes of Bitcoin is made possible through the Over the Counter trading option on HitBTC.
Pricing
HitBTC charges all traders a 0.1% fee on every market trade that they execute. All LP orders attract a 0.01% upon execution. Overall, these prices vary based on the volume of the cryptos involved. Higher volume trades attract lower fees and lower volume trades attract higher fees. Some trades can attract a 0.2% fee, and there those that can attract a 0.1% fee.
Is it a scam or is it legit?
HitBTC is a genuine company. Its fame in the market niche in which it operates in speaks a lot about its genuineness. This firm has been around since 2013 and would have been flagged as a scam if it was not delivering the services it has promised to its clients.
If you are interested in using this platform to make an investment income, all you have to do is to sign up for a user account and kickstart your venture. You should, however, note that this platform is availed to every client on a global scope, except those who live in the listed countries:
- Afghanistan
- The central African Republic
- Cuba
- DRC
- Iran
- Iraq
- Lebanon
- Liberia
- Libya
- Nigeria
- North Korea
- Somalia
- South Sudan
- Sudan
- Syria
- The USA.
HitBTC has a Demo mode that its customers can practice trading without losing a single coin.
That said, however, I would like to point out that HitBTC has received very mixed reactions from the public. There are those people who think it is an excellent platform, and there are those who are totally against anything it has to offer. You can tell this from the average rating that more than 1000 customers have given this platform on TrustPilot.
Better Alternative to HitBTC?
Getting into the cryptocurrency trading arena requires that you rely on a platform that already has a good reputation. So far, the one platform I think you can rely on to meet your crypto trading objectives is Binance. Traders who rely on Binance enjoy some of the lowest fees in the market. Binance also has excellent support, which is one area that HitBTC has been failing its customers for a long time. Bottom-line, if you are looking for a crypto trading platform that works, Binance is the way to go.
**My personal favorite is Binance so you can also check that one out
Pros and Cons
It might be wise to compare the positive sides against the negative ones to get a better overall view of something, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:
Pros
- Supports a variety of cryptos and fiat currencies
- Good looking User Interface
Cons
- A bad reputation on online platforms.
- It does not have the lowest fees in the market.
- Poor support.
Do You Own or represent HitBTC?
If you are a representative, or associate of HitBTC and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final words and verdict
Verdict: Legit
Overall rating: (3.2 / 5)
Ok, I think that sums up the overall view of HitBTC pretty good. It is a legit service for sure, however, if it is the right one for you or not is something you have to decide yourself. 
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.
What I would recommend?
There are many similar services out there. I have many IRA service providers listed on this website, mostly for precious metals and Bitcoin but also for other alternative investments. You can find the best from 2 worlds that I can recommend below:
P.S.
Learn about my #1 recommended Bitcoin exchange on this page
Or,
** Learn about my #1 recommended Bitcoin IRA (Storage) solution on this page here
I hope you found this short review of HitBTC to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
Michael,
founder of: Goldretired.com
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