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HitBTC has become a seasoned platform for digital asset trading. Now headquartered in Chile as of 2021, it offers trading in over 500 asset types, mainly cryptocurrency pairs. With a broad range of available assets, HitBTC caters to both new and experienced traders in the dynamic world of cryptocurrency.
The hitbtc.com review by Traders Union underscored their API, which is highly accommodating to robots, thus fostering the growth of applications. HitBTC’s extensive product range and enduring presence in the market have firmly established its position as a prominent cryptocurrency exchange.
Pros and cons of HitBTC
Traders Union has highlighted several advantages and disadvantages associated with using HitBTC as a broker for executing cryptocurrency transactions.
Pros:
- Provides access to over 500 cryptocurrency pairs.
- Charges no commission for withdrawing cryptocurrencies.
- Offers 24/7 support service.
Cons:
- Lacks passive investment instruments.
- Imposes high commissions for Starter and General account types.
- Sets volume limits per trade.
- Offers limited tools for technical and fundamental analysis
- Absence of an affiliate program.
Overall summary
HitBTC is a cryptocurrency exchange concentrating on providing extensive trading services. The firm excels in the area of cryptocurrency trading and coin exchange, but it does not offer investment programs.
Expert review of HitBTC
TU experts offer the following insights into the operations and offerings of HitBTC, a long-standing cryptocurrency exchange established in 2013:
- HitBTC specializes in providing services to cryptocurrency traders and developers. It also offers a Robot-friendly API that caters to advanced trading strategies.
- Over 500 cryptocurrency pairs are available for trading, providing a vast range of opportunities for traders.
- Unlike many crypto exchanges, HitBTC offers leverage trading – a feature that could multiply potential gains.
- The minimum investment requirement is only $1, making it an accessible platform even for beginners in cryptocurrency trading.
- To incentivize increased trading volumes and account verification, HitBTC offers three account types: Starter, General, and Upgraded.
- Starter and General accounts come with high, fixed commissions, while the Upgraded account has lower, turnover-dependent fees.
- The vast array of tradable cryptocurrencies, good reputation, and favorable cryptocurrency withdrawal terms make HitBTC a potentially good choice for trading purposes.
Analysis of the main features of this broker
Analysts from TU carried out an extensive analysis and appraisal of HitBTC, forming their assessment based on the following crucial parameters:
- Overall Score: 6.6
- Execution of Orders: 6.39/10
- Investment Instruments: 6.81/10
- Withdrawal Speed: 6.45/10
- Customer Support: 6.75/10
- Variety of Instruments: 6.23/10
- Trading Platform: 6.97/10
Trading conditions for HitBTC users
TU analysis reveals that HitBTC supports the trading of over 500 assets. The platform permits margin trading with leverage options of 1:1, 1:5, 1:10, and 1:12. Over-the-counter transactions are enabled, providing the opportunity to trade directly with other cryptocurrency participants. Though fiat currencies aren’t accepted as the base account currencies, they can be employed to purchase cryptocurrencies via the HitBTC exchange service.
Here are the key features of HitBTC, summarized in bullet points:
- Trading Platform: Proprietary platform
- Account Types: Demo, Starter, General, Upgraded
- Account Currency: Cryptocurrencies (USD, EUR, and GBP can be used to buy cryptocurrencies)
- Replenishment/Withdrawal: Cryptocurrencies, Visa, MasterCard cards
- Minimum Deposit: From $1
- Leverage: Up to 1:12 (for some pairs)
- PAMM accounts: Not available
- Instruments: Cryptocurrencies
- Mobile Trading: Yes
- Affiliate Program: Not available
Top 5 alternatives to HitBTC
Traders Union has created a ranking of the top five brokerage platforms that can be evaluated alongside HitBTC, taking into account factors such as features, security measures, and user satisfaction.
Bybit
Bybit is known for its advanced trading tools, leveraged trading options, and robust security measures. It provides a seamless user experience, but its limited range of supported cryptocurrencies is a drawback.
OKEx
OKEx is a popular platform with a diverse range of trading options, advanced features, and solid security measures. However, some users have reported issues with customer support and occasional technical glitches.
Binance
Binance is a leading cryptocurrency exchange offering a wide selection of cryptocurrencies, competitive fees, and a user-friendly interface. It is known for its strong security measures and extensive range of trading features.
Huobi Global
Huobi Global is a reliable platform with a vast range of supported cryptocurrencies, advanced trading features, and a user-friendly interface. It has robust security measures, but customer support can be inconsistent.
KuCoin
KuCoin is a user-friendly platform with a diverse range of cryptocurrencies, competitive fees, and advanced trading features. It has implemented strong security measures, but occasional trading issues have been reported.
It can be noted that the Bitsgap exchange, known for its powerful trading tools and advanced algorithmic trading options, can be considered alongside HitBTC. It offers a user-friendly interface, strong security measures, and a wide range of supported cryptocurrencies, making it a popular choice among traders. Visit the Traders Union website for more insights.
Conclusion
HitBTC has established itself as a reputable cryptocurrency exchange with a wide range of trading options and an extensive selection of supported cryptocurrencies. While it lacks passive investment instruments and imposes certain limitations, it remains a popular choice among traders. As mentioned before, visit the Traders Union website for more information.
Disclaimer: The content of this partner post is provided by Traders Union. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
