The HitBTC cryptocurrency exchange is one of the oldest platforms for trading digital assets. Founded in 2013 in the UK, it has quickly established itself as a reliable and innovative cryptocurrency exchange platform. As of 2021, HitBTC is headquartered in Chile, reflecting its commitment to a global presence and serving international customers.

The HitBTC platform offers its users the opportunity to trade more than 500 different assets, including a wide range of cryptocurrency pairs. This makes it one of the most diverse exchanges in terms of the choice of trading instruments. Thanks to this range, traders can find almost any popular cryptocurrency on the platform and trade it in various combinations.

One of the key advantages of HitBTC is its Robot-Friendly API. This feature allows users to develop and integrate their own trading applications and bots to automate trading. The API provides access to all the main functions of the platform, which makes it attractive to developers and professional traders who prefer automated solutions.

In addition, HitBTC is known for its high liquidity and fast order execution, which is important for successful trading. The platform also pays great attention to security by implementing advanced technologies to protect its users' data and assets.

Thus, HitBTC is one of the leading cryptocurrency exchanges in the world, offering its clients a wide range of trading and integration opportunities, which makes it attractive for both beginners and experienced traders.

Trading conditions

The HitBTC cryptocurrency exchange offers its users extensive opportunities for trading digital assets, characterized by flexibility and accessibility. Founded in 2013 in the UK, the platform has moved its headquarters to Chile by 2021, reflecting its international presence and focus on the global market. 

One of the main advantages of HitBTC is a minimum deposit of only $1, which makes it available to a wide range of traders, including beginners. The platform supports margin trading with leverage up to 1:12, which allows traders to increase the potential profitability of their trades. Depending on the trading pair, the following leverage options are available: 1:1, 1:5, 1:10 and 1:12.

HitBTC offers more than 500 different assets for trading, giving users the opportunity to work with a large number of cryptocurrency pairs. The platform also supports OTC trading, allowing traders to conduct transactions directly with each other, which can be beneficial for large transactions.

Fiat currencies such as USD, EUR and GBP can be used to purchase cryptocurrencies through the built-in exchanger, although they cannot be the base currencies of accounts. The platform supports a variety of deposit and withdrawal methods, including cryptocurrencies and Visa and MasterCard bank cards.

The HitBTC trading platform is a proprietary development of the company and provides users with several types of accounts: Demo, Starter, General and Upgraded. This allows traders to choose the most suitable option for themselves, taking into account their level of experience and needs. A demo account is available for beginners, which allows you to try trading without risking real funds.

One of the key features of HitBTC is its Robot-Friendly API, which provides developers and professional traders with the ability to create and integrate their own trading applications and bots to automate the trading process. This significantly increases efficiency and allows you to implement complex trading strategies.

The HitBTC platform also offers mobile trading, which allows users to stay active in the market anytime, anywhere. Despite the fact that there are no PAMM accounts and an affiliate program, HitBTC attracts traders with rebates for those who create liquidity (Maker), with a reward of up to 0.01% of the transaction.

Overall, HitBTC provides a variety of trading conditions and tools that can meet the needs of both novice and experienced traders, providing high liquidity, flexibility and innovative opportunities for trading digital assets.

Comparing HitBTC with exchanges such as Cryptohopper, Phemex, Coinw, we came to the conclusion that HitBTC, Cryptohopper and Phemex focus exclusively on cryptocurrency trading, while CoinEx offers a wider range of tools, including Forex, along with cryptocurrencies. None of these platforms provides access to trading in metals, CFDs, indices, stocks, ETFs and options.

Additional functions

HitBTC exchange offers its users a number of tools designed to simplify trading and minimize risks. These options allow traders to manage their orders and strategies more effectively, providing flexibility and accuracy when making trades.

The "Stop" option is an important risk management tool. It helps users reduce financial risks by ensuring that an order is executed when a certain price is reached. This allows traders to set the level at which they want to lock in a profit or loss, automatically activating the order when this level is reached. Thus, traders can protect their investments from sharp market fluctuations without requiring constant monitoring.

The "Good till Cancelled" (GTC) option is used by default on all cryptocurrency exchanges and implies that the order will be active until it is fully executed or canceled by the trader himself. This is a convenient way for long-term strategies, where traders can place orders and not worry about having to update them every day.

The "Immediate or Cancel" (IOC) option is designed for the convenience of users who require instant execution of orders. If the application or part of it cannot be completed immediately, it will be canceled. This allows traders to avoid partial execution and quickly adapt to the current market situation.

The "Fill or Kill" (FOK) option completely eliminates partial execution of orders. The order will either be executed in full or cancelled. This is especially useful for large traders who need to get the exact amount of assets without partial execution, which may affect their trading strategy.

The "Day" option allows you to place orders that will be valid until the end of the current trading day. If the order is not executed before the end of the trading day, it will be automatically canceled. This is convenient for day traders who do not want to leave open orders overnight due to possible overnight market fluctuations.

The "Good till date-time" option provides users with the ability to set an exact date and time for closing an order by canceling it. Traders can plan their trades in advance by setting a time frame for order execution. This allows you to manage trading strategies more accurately and avoid unexpected market changes.

Commissions and fees

The HitBTC cryptocurrency exchange, founded in 2013, has earned a reputation as one of the oldest and most reliable platforms for trading digital assets. MOFT analysts conducted a detailed analysis of the trading conditions on this exchange, paying special attention to the differentiation of commissions depending on the type of trading account and the volume of trade turnover.

There are several types of trading accounts on HitBTC, each of which has its own commission conditions. A fixed commission is applied for Starter and General accounts: 0.01% for Maker (creating liquidity) and 0.25% for Taker (absorbing liquidity). These accounts are suitable for traders starting their way or working with small volumes.

For an Upgraded account, the commissions depend on the trade turnover over the last 30 days. The maximum commissions are applied for traders with a turnover of 0 to 10 BTC per month and amount to 0.09% for both Maker and Taker. With an increase in trading volume, commissions decrease: minimum rates are applied to traders whose turnover exceeds 100,000 BTC in 30 days, and amount to 0.01% (rebate) for Maker and 0.02% for Taker. Thus, active traders and large players receive significant benefits due to reduced commissions, which makes trading on the platform more profitable.

A separate advantage of HitBTC is the absence of withdrawal fees on all types of accounts, which can be a significant factor for traders who often withdraw their assets. The exchange also sets certain limits for transactions, the details of which can be clarified in the support service and on the official website of the exchange.

MOFT analysts also conducted a comparative analysis of HitBTC's average commissions with StormGain, CoinEx, Gate.io, Bybit compared to similar indicators of other cryptocurrency exchanges. As a result, it was found that the average commissions on HitBTC are quite high $2.5, in this comparison, only Bybit has $20 higher.

Relatively high average commissions on HitBTC can be an important factor when choosing a platform for trading cryptocurrencies, especially for traders with smaller trading volumes. However, for traders with high trading volume, the exchange offers competitive conditions due to reduced commissions for large turnovers.

As a result, HitBTC provides flexible commission terms that vary depending on the account type and trading volume. For Starter and General accounts, the fees are fixed and amount to 0.01% for Maker and 0.25% for Taker. Upgraded accounts offer a progressive commission scale, which can be reduced to 0.01% (rebate) for Maker and 0.02% for Taker with a turnover of over 100,000 BTC in 30 days. The absence of withdrawal fees and support for more than 500 different assets make HitBTC an attractive platform for crypto traders. However, average commissions remain high compared to competitors, which may be a disadvantage for traders with smaller trading volumes. Thus, HitBTC is most beneficial for active traders and large players who are able to ensure high trading volume and take advantage of reduced commissions.

Safety

HitBTC is one of the leading cryptocurrency exchanges that actively cares about the safety of its users, despite some challenges and questions arising around its activities. Starting with technical security measures, the exchange provides the ability to configure two-factor authentication for all transactions, which effectively protects accounts from unauthorized access. The Security section in the Settings menu allows users to monitor all logins to their account and respond promptly to suspicious activity, and it is also possible to terminate all sessions except the current one, which further increases the level of security.

Additional security measures include a white list of crypto wallet addresses to protect withdrawals, the use of strong passwords, and support for universal 2nd factor (Yubikey). Cold storage of the main part of cryptocurrency assets provides protection against online attacks, and automatic logout after 30 minutes of inactivity helps prevent unauthorized access in the temporary absence of the user.

Despite the high standards of technological security, HitBTC is facing criticism and challenges regarding some aspects of its work. For example, some users report difficulties withdrawing funds from the exchange, which highlights the need for more transparent and operational processes. In addition, HitBTC remains an unregulated platform, which may cause some concerns among investors who prefer stricter regulation.

Despite these challenges, HitBTC continues to be a significant participant in the cryptocurrency exchange industry, offering a wide range of trading pairs and trading tools. It actively develops its technologies and securely secures user assets, striving to improve its services and increase the level of trust of its customers.