1 Level
154 Review
169 Karma
Review on HitBTC by Mr Benji
One very shady exchange!
1. SHADY! -There are more complaints about "account freezing" and the inability to make a selection. You can read some of these complaints on the subreddit r / HitBTC website.
Of course, the views of anonymous people on the Internet are not of great importance because virtually anyone can write them. But it is the first red flag that is complemented by the views of people who are no longer anonymous, and John McAffee, who has a strong influence on the cryptocurrency market, is putting the crown on his own and says he has been cheated by HitBTC.
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For the start let's see some people opinions on HitBTC:
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- Avoid this Russian cheater
- $ 7,000 is hanging on this stock exchange. Those shakers have been checking my account for four months! I do not recommend.
- John McAffee: Don't trust this exchange office! (More info)
- HitBTC is SCAM
- HitBTC stole my money!
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2. Basic stuff -The platform is quite nice, clear and fast. The first thing you notice in the platform is the cryptocurrency graph on the left. You can use it either directly from HitBTC, or switch to TradingView software, which uses eg Bitfinex or BitMEX.
The types of commands you can enter in the platform are Market, Limit, and Scaled commands. What type of command does it mean?
Market Order will purchase or sell cryptocurrency immediately for you at the best price you will currently find at HitBTC
The Limit command instructs the command to be executed only if a counterparty is found at a certain price. Therefore, if the litecoin price is currently US $ 50, you can set a purchase of US $ 40, and in the case of someone who wants to sell their litecoins for US $ 40, they will use your order and fill it in at your desired price.
Scaled order works by automatically creating the limit commands you have explained above in your span. If we follow our example of when 1 LTC = $ 50, you can, for example, by scaled order automatically set the purchase of 1 LTC always on every dollar from $ 49 to $ 40. Thus, it will create a 9x limit order for 1 LTC, with one going for $ 49, one for 48, then 47, and so on.
It is a handy feature that allows you to gradually purchase cryptocurrencies in the event of a price drop and thus "dilute" the purchase price, or, on the contrary, gradually sell off in the case of increasing prices and thus secure profits.
The platform works quite well. The only problem I have with her is that I don't know if I can trust this exchange.
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Updated 5 years ago
Rating changed from 2 to 1
- The HitBTC had yet another problem with trading according to it was API problem and now it's all fixed however a lot of people think the exchange is just scammy and shady. The volume is dropping day by day as users are losing their patience. If the HitBTC team won't do anything special they will die slowly.
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Pros
- Advanced platform
Cons
- do not know whether it is possible to trust the exchange
- It is not possible to insert a fiat currency
- Super shady
- People having problems with withdrawing money
New products
Comments (1)
September 30, 2019
I trade on HitBTC about 1,5 years and for this time I dont have PROBLEMS with withdraw my tokens.
"People having problems with withdrawing money"
It looks like you don't know original information about this exchange, mr. Expert if you just slander on the exchange.
