Review on Hotbit by Fanuel PORPORTY
HOTBIT - A cryptocurrency exchange
Hotbit is an exchange launched in January 2018 which offers the possibility to trade many very unusual cryptocurrencies.
There is no precise information about the place of registration of HotBit, but this centralized cryptocurrency exchange presumably operates from China. HotBit doesn’t support fiat currencies and operate on a crypto-to-crypto only basis. Traders are being offered a standard account with no option for leverage trading. It is compensated by the competitive fees. Both makers and takers pay a flat transaction fee of 0.1%, which can be deducted if the option to pay commissions with HTB, the platform’s native tokens which constitutes many trading pairs on HotBit, has been chosen by a user.
When it comes to the provision of security, HotBit employs the customary 2-factor authentication for traders’ accounts, and the mix of cold and hot wallets, which store private keys offline, to ensure the safety of digital assets.
Pros
- Impressive trading volumes for an exchange that has been operational for less than two years;
- An extensive list of tradable cryptocurrencies with some of the hottest new ones (a reference to GRAM) about to be listed;
- The fees are below industry average with the possibility of cutting the taker / maker fees in half by opting to pay them in HTB.
- High liquidity thanks to partnerships.
- Wide functionalitys
- Stable platform with quick transactions
Cons
- HotBit doesn’t support fiat currencies
- Traders are being offered a standard account with no option for leverage trading.
- Fake volume allegations
- Slow customer support
