Even at first glance, the company’s poor design makes it clear how much they invest in it. Not to mention that you can’t find who founded HitBTC, where they are based, or what their contact details are.
All these tiny details can make a company more or less trusted. In this case, less. But we will reveal far more concerning details in this HitBTC review.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Hitbtc.com |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2013 |
| Trading Platforms: | Proprietary platform |
| Maximum Leverage: | N/A |
| Minimum Deposit: | 0.00001 BTC |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | Available (allegedly) |
| How to Withdraw from This Company? | Since numerous traders reported issues with withdrawals, you can forget about the clean ones. Therefore, we suggest you immediately start the refund process. Obviously, this firm won’t let you get your money back in a regular way. For detailed guidance, contact our refund experts. |
Legal info: Is HitBTC Legit or A Scam?
Since there are more than 50% of negative HitBTC reviews, it’s quite reasonable to call them a scam. But why is that? In the first place, this trading company offers spot trading and crypto exchange services. Yet, they are not authorized by any top-tier authority to do so. There’s no license, starting with the FCA, BaFin, ASIC, or any similar institution.
Without control, they can do anything they want. And that’s exactly what traders are experiencing, primarily when it comes to withdrawal procedures. But in the end, we are all into investing because of that.
Who are HitBTC’s Victims?
As can be seen, this firm has been operating since 2013. But even with their destroyed reputation, they still manage the business somehow. Anyway, the targeted countries are quite strange:
- United States
- Serbia
- Germany
If you have some money stuck with the HitBTC exchange, you better find the refund method immediately. Otherwise, it might be too late. In case you don’t know all the steps, get in touch with our refund experts today.
Traders Reviews
The most disturbing detail about the HitBTC crypto trading company is its reviews on Trustpilot. With more than 2,000 comments and more than 50% negative ones, it’s quite clear what this company is doing. Once traders register with them, they are easily persuaded to start depositing money.
However, once they want to get their money out, suddenly, all the obstacles appear, such as verification problems, non-existent fees, and taxes. And that’s just the beginning of a nightmare. We invite you to share your experience in the comments below and talk to our refund team today about the steps for funds recovery.
Leverage, Commissions, Spreads, Fees and Taxes
Generally speaking, the company’s spot/margin and futures trading fees seem quite transparent. But you never know if that’s all. Anyway, if you are using a HitBTC wallet, you can expect the maximum costs of:
- 0.1% maker and 0.25% taker fees for spot and margin trading
- 0.02% maker and 0.07% taker fees for futures trading
Holders of the HIT token also have additional discounts ranging between 3% and 45%. Of course, all discounts are based on the 30-day trading volume and average token balance over 30 days.
Bonuses
On the positive side, believe it or not, completing the HitBTC signup procedure doesn’t bring you any bonuses. Therefore, we can at least forget about manipulation through shady bonus policies.
Yet, there are many more cheesy tricks companies might use. Don’t miss our Delta ICO review for those.
HitBTC Trading Features
In general, the company’s features are all about safety, fast services, and automatization. But in reality, can we trust those if the company is not regulated? Definitely not.
Anyway, the most important feature is the company’s API trading bot. However, none of that matters if you can’t withdraw any of the funds.
Trading Platforms Available
After you complete the HitBTC login procedure, you will realize all trading is done on the web-based platform. Even though the platform might be optimized, user-friendly, and fast, it is still missing credibility, especially with rumors about the company’s withdrawal issues.
In any case, if you are into spot and margin crypto trading, simply use tier-1 licensed firms to avoid any problems.
Available Trading Assets
When you are trading with a crypto exchange, you practically limit your profit potential. Instead of a wide range of instrument classes, you can only choose between a wide range of cryptos, which are mostly correlated in some way.
Anyway, some of the 1000+ options are:
- Bitcoin
- Dogecoin
- Shiba
- Ethereum, etc.
Account Types
Generally, besides the different HitBTC fees, there’s no separation among investors. Everyone gets all the same trading features, which is quite positive considering the company’s shady activities. But if you decide to start with them, you can start as low as 0.00001 BTC.
Mobile Trading App
Even though the company claims to have millions of users, their app download rate doesn’t match that. For instance, on PlayStore, their app has been downloaded only a bit over 100k times.
Nevertheless, with all the issues traders are reporting with the apps, it’s not surprising. But to see what other signs to watch out for, read our Lyraten review.
Demo Account
As can be seen, the company allegedly offers a demo account on its trading platform. If it works, the positive side is that you can use the API features there as well. But things might be a bit different once you start investing real money.
Education
Important to note is that the HitBTC scam exchange doesn’t offer any education to its traders. This is quite surprising since they present themselves as the most advanced exchange. But if you think about it, if traders knew anything about the crypto, they wouldn’t certainly deposit with this company.
HitBTC Withdrawal
If you look closely, you will realize that the company doesn’t have transparent withdrawal fees. These are only visible to registered users. This makes the withdrawal even more suspicious. Nevertheless, the biggest problem is that the company requires quite detailed verification from a trader to apply for a withdrawal.
But when you are depositing money, none of those principles are applied. Opt for Tier 1 licensed brokers or exchanges to avoid such shady tactics.
Customer Support
Important to note is that the only contact option with this company is through their Telegram channel. This way, they keep their anonymity on the highest level. That’s definitely not something you want with a company you trust your money.
Key Information To Consider About HitBTC?
If you were not convinced by the lack of regulations and transparency, you may as well check HitBTC Reddit comments. Literally, nothing indicates you will have a good time with this exchange. So, why waste time with it? Request a withdrawal, and if you experience any problems, you can request a refund immediately.
Thus, we suggest you talk to our refund experts about this. After all, they have done it numerous times flawlessly. Not to mention the first meeting is completely free. There’s nothing to lose. Book your meeting now.
FAQ Section
What is HitBTC?
HitBTC is an anonymous crypto exchange that has been operating since 2013 without maximum transparency.
Is HitBTC a Legit Crypto Exchange?
No. HitBTC exchange is not licensed in the first place by any regulatory authority. Especially not top-tier ones like FCA, ASIC, or BaFin.
How Long Does it Take to Withdraw From HitBTC?
If you look at the reviews from users, it takes forever. If you want to speed it up, feel free to contact our refund specialists for consultation.
Source:
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