Review on Hotbit by Praise Olagbadun
I Guess I've Found An Exchange Platform To Use Except For Their Withdrawal Fees
In the quest of searching for an exchange platform that would suit my desire and wants in an exchange platform, I've gone through tens of exchanges which in one way or the other discouraged me with one of their negative characteristics. Most of them might be security, fees or poorly designed interface. After going through these, I came across an exchange platform which I think would be the exchange platform I would be using now. It's the Hotbit exchange platform. After going through the features of the exchange platform, I got to love everything they offer except for their withdrawal
Being a new exchange platform, as it started operation in the year 2018. The Hotbit exchange platform has been able to gather over 1.5 million traders across hundreds of countries in the world, their rapid growth alone is a testimony and I'm sure it was due to their high quality services. It is an exchange platform that trades both cryptocurrencies and fiats having hundreds of cryptocurrencies available on their platform and a little number of fiats. Their user interface alone is welcoming as they have it easily accessible by both experts and new traders. Beauty is not left out in their interface as all the icons are properly and beautifully laid out.
As for the fees they charge, the Hotbit exchange platform doesn't charge traders for every deposit made and their trading fee remains the most competitive to me. As they charge takers a very competitive fee of 0.075% and makers get 0.025% of the trade made. All through the few years I've spent in the blockchain network, I'm yet to see any exchange platform that charges as little as what the Hotbit exchange platform charges. The only fee I have problem with is their withdrawal fee. I was so surprised to see that the exchange platform charges massively for withdrawals. Their withdrawal fees are not fixed and sometimes when compared to other exchanges, it exceeds double or even triple of what some exchanges charge. I really think they should work on their withdrawal fee as that is the only problem I'm currently having with their exchange
The exchange platform is also mobile supported as it has it's mobile applications available on both Android and iPhone operating systems. The exchange platform also make giveaways and competitions (trading competitions especially) available on their platform. I'm yet to participate in any one of them yet because I just signed up recently but would soon get active in their platform and begin enjoying their giveaways and competitions
The Hotbit exchange platform doesn't leave security out also as they have been able to set up multiple security measures to keep their users funds away from hackers. One of such is the record they've kept. Being in existence for more than 2 years now can only be the result of the security measures they have put in place. The exchange platform is yet to have any security issue or hack ever since it started operation in 2018. For an exchange platform as large as it is, there is no doubt that the hackers eyes would always be on them and they have been able to prevent them from manifesting. Nice work really on their clean record. They also store users funds in a cold storage and supplements it with the 2
Pros
- The exchange platform has been able to thrive without any hack or security breach ever since it was created in 2018
- Makes use of multiple security features like the storage of funds in a cold wallet and the use of 2 Factor Authentication
- The exchange platform hosts competitions on their platform frequently
- They trade both fiats and cryptocurrencies in a nice range
- Their trading fee is very competitive as charging takers 0.075% and giving makers 0.025% back is very competitive indeed
- They have their mobile applications available
- Their interface has been translated in about 5 languages
- They don't charge traders for all deposits made
Cons
- Their Withdrawal fee is just too much and should be reduced
- They don't give details about their team, I don't see this as something really had actually
