HitBTC

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HitBTC exchange logo

HitBTC exchange is a leading European Bitcoin exchange which provides cryptocurrency trading services to institutionals, merchants and individual traders worldwide. The trading platform was founded in late 2013 and is under operation of Ullus Corporations K/S. The company is based in Copenhagen, Denmark.

HitBTC provides trading operations for the most popular digital currencies (BTC, LTC, ETH, QCN, NXT, FCN, BCN, and XMR) and prevailing fiat currencies (EUR, USD). For fiat depositing/withdrawal inside European Union SEPA transfer is available. For other countries wire transfer is available.[1]

HitBTC declares it's main focus on implementing cutting-edge technologies to cryptocurrency trading. The core matching engine is stated as the most advanced technological product in its class. It implements real-time clearing (T+0 settlement), advanced order matching algorithms and has been acclaimed for its fault-tolerance, uptime and high availability.[2]

History[edit]

The HitBTC platform development started in 2013 with a 6 million USD Venture Capital investments, as of the collaboration between software developers, finance professionals and traders[3].

In Februar 2014 HitBTC was officailly launched with foolowing instruments: BTC/USD, BTC/EUR, BTC/LTC USD/EUR

In April 2014 Bitcoin Exchange ‘HitBTC’ released Comprehensive Demo Trading for trading strategies testing and API settings adjustment[4].

In May 2014 HitBTC launched altcoins voting program allowing the community decide, which alternative cryptocurrencies should be added to the market[5].

During summer 2014 more trading pairs with altcoins were added, including DOGE, QCN, NXT, FCN, BCN, and XMR[6] [7]

In September 2014 HitBTC was Included in the TeraExchange Bitcoin Price Index [8]

General information[edit]

HitBTC Review

Technical information[edit]

- State-of-the-art matching engine. The core matching engine is among the most advanced technological products in its class and implements innovative features such as real-time clearing (T+0 settlement) and advanced order matching algorithms.

- Dependable API. The platform’s dependable API is extremely stable and will satisfy the needs of algorithmic traders and provides an easy back office integration. It is compatible with HFT set-ups, algorithmic trading systems.

  • WebSocket subscription for prices and trades
  • Asynchronous WebSocket-based trading interface

- FIX Compatibility. To satisfy the needs of institutional clients with existing systems HitBTC is accessible via the FIX protocol.

Currencies & fees[edit]

- Fiat Currencies. HitBTC currently accepts account funding in USD, EUR and GBP. SEPA payments are processed the same day and are charged no commission or processing fees (available for EUR only). International wire transfers (SWIFT) are also accepted and the processing time ranges between 1 and 3 days.

- Coins. New coins are added to HitBTC exchange as a result of user votes or market makers' activity. The first coin added by winning the coin contest was DOGE [9] and the latest one to win the challenge was community-vote driven NXT coin[10].

- Instruments. Presently HitBTC features more than 10 currency pairs. HitBTC has recently added Pounds Sterling to their fiat trading pairs and is available in EUR/GPB and GBP/USD. The pairs include: BTC/USD, BTC/EUR, LTC/USD, LTC/EUR, LTC/BTC, EUR/USD, EUR/GBP, GPB/USD, DOGE/BTC, XMR/BTC, BCN/BTC, NXT/BTC

Compliance, AML and KYC[edit]

HitBTC adheres to an excellent yet simple AML and KYC regime. Users receive a Limited account upon registering their bank account, which automatically entitles them to fund/withdraw up to 2,000 USD or EUR a day. By submitting a basic set of documents users are rapidly given generous limits ranging between 10,000 and 50,000 USD a day.

HitBTC Review[edit]

HitBTC Review 2018 - How to Trade, Deposit, Withdraw

Trading tools[edit]

Order Types. HitBTC has four types of orders:

  • Market order
  • Limit order
  • Stop order
  • Stop limit order

Demo Trading. The Demo Trading option of Hitbtc is highly functional which sets it apart from other companies. It can be used by novice traders to gain valuable trading experience and gives them an opportunity to learn exactly what Hitbtc has to offer. At the same time, it allows skilled users to test out their robots on the demo platform and judge for themselves of the high quality of this new feature. [11]

Terminal. With responsive and feature-packed terminal users can trade effortlessly any of the currency pairs in milliseconds. Bids and Asks are updated in real time, and the chart running on the page is quite solid.

Security[edit]

  • Two Factor Authentication (2FA) is immediately presented to the user upon accessing Settings
  • 2FA offered for login and withdrawals
  • "Recent Activity" chart is shown at the bottom of the settings page, to notify you if someone is attempting to access or has accessed your account maliciously.
  • Verification is built into the withdrawal process.

The developers have worked on a very impressive set of protection matters as the mentioned state of art cryptography combined with FIPS validation and offers of two-factor authentication. [12]

Guest Mode[edit]

Using this new feature, users now can explore markets effortlessly. Anyone is allowed to check the very latest market data, charts, and order book, without having to log into an account, providing extra convenience.

Market Maker contracts[edit]

Market Maker contracts permit API traders to maximize their trading experience. The contracts are accompanied by cash incentives and rebate bonuses. Traders have the opportunity to add a new currency to the exchange if two users take Market Makers contracts to support the cryptocurrency on HitBTC. Every contract is valid for one currency pair. Market makers are sent detailed daily reports with order book snapshot to help them evaluate their performance and develop the most efficient trading strategies. The market making activity is closely monitored and existing contracts are reviewed every month.

HitBTC price widget[edit]

The newly launched HitBTC CryptoCoin Price Ticker widget can be added to any site, blog or article for an easy overview of the current price on cryptocurrency trade pairs from HitBTC, the present ask, bid and 24 hour value. Users can select their preferred size, color and currency and can configure which pair will be shown by default.

HitBTC Coin[edit]

HitBTC firmly believes that e-currencies with true potential should be given a chance to be supported by a major exchange via popular vote. For that reason, HitBTC has introduced a voting system where a particular coin can be included in the list through votes from users and guests. [13] In order to vote, users need to go the voting page [14], look for their preferred e-currency and click the vote button. If you don’t see your favorite cryptocurrency on the list, you can always nominate by clicking the suggest currency button.

External Links[edit]

See Also[edit]

References[edit]

  1. https://hitbtc.com/fees-and-limits/
  2. http://cointelegraph.com/news/11625/new_bitcoin_exchange_service_is_going_to_predetermine_the_distribution_of_forces
  3. http://cointelegraph.com/news/11779/investment_boosts_the_launch_of_new_exchanger_hitbtc
  4. http://finance.yahoo.com/news/bitcoin-exchange-hitbtc-includes-features-073000193.html
  5. https://hitbtc.com/vote
  6. http://www.forexminute.com/bitcoin/hitbtc-adds-nxt-platform-42030
  7. http://www.doge-coins.nl/news-2/press-release-dogecoin-added-hitbtc-today
  8. https://hitbtc.com/for-press/release/hitbtc-is-included-in-the-teraexchange-bitcoin-price-index
  9. http://dogecoin.com/
  10. http://nxt.org/
  11. http://finance.yahoo.com/news/bitcoin-exchange-hitbtc-includes-features-073000193.html
  12. http://es.cointelegraph.com/news/11779/investment_boosts_the_launch_of_new_exchanger_hitbtc/
  13. http://www.cryptoarticles.com/crypto-news/hitbtcs-market-makers-contract-and-voting-system
  14. http://hitbtc.com/vote


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