- Intuitive platform
- Huge number of supported cryptocurrencies
- Great support
- Adequate security
- Slow bank transfers
- No phone app
HitBTC started its business in 2013, with a total of 6 Million Euro venture capital. It provides for individual cryptocurrency traders. Besides the main 3 crypto coins (BTC, ETH, LTC), HitBTC gives an option to trade Dash, Zcash, Monero, Ripple, Doge, and many other currencies and ICOs. The platform has a detailed price graph (candles), as well as markets preview with total trading volume, highest and the lowest price, change in percents, market activity, and some other useful details.
HitBTC allows making deposits using SEPA or Swift transfer. Also, cryptocurrencies can be deposited of course.
However, hundreds of negative reports appeared online. Reddit is full of topics regarding struggling withdrawals, missing deposits and unresponsive support. So we highly advise making your own research before jumping into HitBTC.
Update (06/08/2018): HitBTC fails to continue. The company struggles to pay for affiliates, some of the site features are not working properly.
Update (03/01/2019): HitBTC still plays unfairly. Accounts of many users were suspended due to the Proof of Keys event.
Bank Transfer deposit can take up to 14 banking days, while withdrawal takes up to 20 working days depending on the country and bank.
Digital assets take so much time which is needed by the network for a transaction to get confirmed.
Limits vary depending on the account – 2,000 (EUR, USD or GBP) per day, 10,000 (EUR, USD or GBP) per week. However, it can be raised to 10,000 (EUR, USD or GBP) daily or 50,000 (EUR, USD or GBP) weekly.
Verification process and privacy
When a deposit is made using one of the fiat currencies, only then a requirement to provide some details to provide appears. While institutional accounts need many details such as ID, passport or driver’s license, proof of residence, proof of bank account ownership and information.
HitBTC has an option to enable Two-Factor Authentication. In addition, they state that use advanced encryption. And finally, all digital assets are stored in cold storage.
Sadly, there are no other features like SMS verification or notifications.
Traditionally, HitBTC offers huge and really detailed knowledge base, including a blog. If an answer cannot be found here, open a support ticket for getting more in-depth help.
HitBTC supports tons of cryptocurrencies, including many ICOs. That’s why the platform got huge popularity and managed to get into top lists of exchanges.
Unfortunately, due to the slow speed of deposits and withdrawals, they deserved many negative opinions in the community of crypto traders. Furthermore, no mobile application presented, which would be so helpful here.
Reviewed by Coinsmaniac