Review on HitBTC by Temitope Babatunde
Hibtc, a Very Controversial Exchange
One of the oldest crypto exchange that we are having now is Hibtc haven been founded in 2013 but opened for trading early 2014. This exchange is owned by a company Hit Solution Limited based in Hong Kong. It may be funny that not much can be said about its staff, this alone is enough to be wary of this exchange.
But despite what I mentioned above Hibtc is doing fine in some areas which makes it attractable to many. For example, it has a sleek UI and a demo mode where newbies can perfect their trading strategy before using actual money. There is also OTC, that is Over The Counter trading, margin trading, on spot trading etc. In terms of API severals of it can be found on Hibtc.
The fees for trading is between 0.2 percent to 0.01 percent depending on the volume of your trading. To deposit is free but when withdrawing there is a fee attached to that and it depends on the coin you are withdrawing and this is the area where users use to complain much about Hibtc.
No force KYC unless you are trading with a very large amount. It is worth to note that since it's inception this exchange has never been hacked. It is also GDPR compliant.
But when it comes to customers support it has to improve in this area, users use to say that it is not transparent enough and full of lots of shady deals.
In conclusion, it is good to reflect on its pros and cons before using it.
Pros
- It is one of the oldest crypto exchange, and being in the market since without reporting any hack is a plus for it.
- High level of liquid, there are lots of crypto coin and tokens that you can trade with.
- You have different forms of trading here.
- If you are new comers and you are fearing loss, there is nothing to worry about Hibtc has provide you with a demo account with which to test run the market before using your actual money.
- For those who want to do token offerings and list their token at same time hibtc is a place to be
- The trading overview is very neat and clear, the website too has a very good looking.
- If you are an advance trader and are interested in using various API and bots Hibtc is a place to be.
Cons
- Customer service is not good, if you have any issue with them if at all they will answer it will take a very long time.
- There are report of so many unsatisfied users on the internet about Hibtc.
- It was alleged that the platform is full of shady activities.
