HitBTC

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HitBTC logo

HitBTC is one of the oldest and the most advanced online cryptocurrency exchange platforms. It was founded in 2013 and is currently managed by the Hong-Kong based Hit Solution Limited. HitBTC holds international presence and trades almost 500 cryptocurrencies (491 at the time of writing) in over 800 trading pairs [1][2].

International presence[edit]

HitBTC is managed by Hit Solution Limited, based in Hong Kong, address Unit 19, 7/F., One Midtown No.11 Hoi Shing Road, Tsuen Wan, New Territories. The company also possesses a dedicated office in Chile, address Av. Vitacura 2969, Las Condes, RM.

Operations in Japan were suspended in June 2018 after the government announced a series of new regulations. The company plans to re-launch a regulated subsidiary. [1]

Features[edit]

Technology[edit]

HitBTCís matching engine offers real-time clearing and low-latency matching algorithms. HitBTC provides both REST API and [2] FIX API. The API documentation is available [3] here, and repositories here [4].

Trading[edit]

Currencies and trading pairs[edit]

HitBTC has markets for over 500 currencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS, and USDT. [3]. Three new stablecoins were added to the platform in June 2018: TUSD, EURS, and DAI.

More than 900 trading pairs are available.[4]

Trading fees[edit]

HitBTC's trading fees follow a maker-taker model [5]: a fee system designed to encourage traders to add liquidity to the market, stimulating trading activity. In a trade transaction, the taker is the trader who removes liquidity from the order book by placing an order that matches an existing one, while the maker is the trader who provides liquidity to the order book by placing a limit order below the best ask price and above the best bid price.

On HitBTC, takers are charged a 0.1% fee from the trade, while makers are rewarded with a 0.01% rebate from the trade.

OTC Trading[edit]

OTC trading is available subject to application at Trustedvolumes.com.[6]

Deposit and withdrawal[edit]

There are no limits on withdrawal and deposit amounts. The exchange does not currently support deposits in fiat currencies, and it is not possible to link bank accounts to the platform.

Withdrawal fees[edit]

Despite the fees being slightly higher than average on the marketplace, HitBTC distances from the competitors by security measures, as it has never been hacked or lost its customers' assets ever since its launch in 2013.

Withdrawal fees vary by currency. The most popular ones are: BTC: 0.001 BTC ETH:0.00958 ETH BCH: 0.0018 BCH USDT: 45 USDT

   TUSD: 20 TUSD

LTC: 0.003 LTC DASH: 0.03 DASH XMR: 0.09 XMR EOS: 0.01 EOS


Security and transparency[edit]

The platform offers and encourages two-factor authentication, a whitelist feature, cold storage, and personal brokers for market guidance and contact. The whitelist security measure lets members create a secure list of withdrawal addresses, which limits funds withdrawal on the HitBTC web interface and the API. Cold storage and personal brokers are available only for pro accounts (applicants must qualify as ìprofessionalî traders). Through the cold storage feature, BTC and ETH are held in cold storage in a Sequant Capital facility in London.[7]

The ìSystem Healthî page offers the platformís members live statistics for deposits, transfers, trading, and withdrawals, plus updates on maintenance operations.

Affiliate Program[edit]

The affiliate program is designed to encourage traders to attract more customers to HitBTC.[8] Members can invite other people to join the platform through customized links, and receive a reward of up to 75% from their trading fees. This custom link can be created here.

Liquidity[edit]

As of August 2018, HitBTC had a daily volume of over 250 million USD, with the three top traded tokens being Bitcoin, Bitcoin Cash and Ethereum.[9]

References[edit]

  1. https://hitbtc.com/system-health
  2. https://coinmarketcap.com/exchanges/hitbtc/
  3. https://hitbtc.com/system-health
  4. https://hitbtc.com/system-health
  5. https://www.investopedia.com/articles/active-trading/042414/what-makertaker-fees-mean-you.asp
  6. https://hitbtc.com/otc
  7. https://hitbtc.com/settings/verification
  8. https://support.hitbtc.com/hc/en-us/articles/115005201929-What-is-HitBTC-affiliate-program
  9. } |"HitBTC Trade Volume and Market Listings | CoinMarketCap" |"HitBTC Trade Volume and Market Listings | CoinMarketCap" }} (in en). https://coinmarketcap.com/exchanges/hitbtc/.

External links[edit]