Review on Hotbit by Abraham Jeremiah
Offering Trading rebates and a User friendly UI, Hotbit might be just the exchange for you
When making use of an exchange, I usually take note of the fees that accompany that exchange and Hotbit offers that cutting edge market trade fees. I noticed the Exchange offers a 0.075% back to the takers while makers get to earn a rebate of 0.025%. I have seen much volume pumped into this exchange and my view must be due to its trade fees and the influx of coins that the exchange allows for Trade. Despite having such good trade fees, Hotbit came out to slack away by making withdrawal fees more expensive than that of many other exchanges. Even it's minimum amount for withdrawal is on the high side. I then decided to use USDT Tron to navigate it's trade fees and this makes the exchange, the reason why I still use it. Its mobile app and website is user friendly, it's Trading view is also up to par as the exchange offers charting tools which are nice but might not be just enough as they support indicators like MACD, Bollinger Bands and just to mention a few, but might still be useful to a handful of expert traders. I also appreciate the security measures put in place by the exchange and has never suffered a hack since it's inception. The number of cryptocurrencies I noticed being traded on Hotbit is a very high number with a lot being popular projects amidst a plethora of others with almost no future. But Hotbit makes this easier by breaking down this projects cryptocurrencies into groups so users can see their use cases. This almost makes all the disadvantages outlined look irrelevant and this makes Hotbit, more for an exchange to my usage. I wanted using it's native HTB token but after purchasing, I couldn't get a way to use it in cutting my trade fees, this should be looked into by the exchange to make it easier for new traders to get to see and use that feature. The exchange is quite a great one and seems to have everything in place except for it's withdrawal section.
Pros
- Hotbit exchange offers good UI and trading chart view which helps expert traders to name trading decisions well
- Hotbit supports perpetual trading contracts and offers good leverage
- Both mobile app and website are user friendly, even to beginners
- Hotbit exchange offers market cutting edge trade fees, a very low threshold for takers and rebate for makers
- Good security measures are put in place by the exchange. This is probably why the exchange is yet to suffer any hack since 2017
Cons
- There is a lot of projects this exchange hosts that tend to become scam projects
- The withdrawal fees Hotbit extracts is way to high for many of its tokens
New products
Comments (2)
January 07, 2021
The trading fee rebate given to its market makers is probably what brings many users to using this exchange. Just like I indicated in my review, it's withdrawal fee makes the exchange fall off my list
January 05, 2021
I significantly love the HotBit exchange platform due to the security system they have put up. They have been able to keep their user funds secured with multiple security measures. The fact that they charge much is covered up with their security system cos I am satisfied with having my funds secured and pay more for it
