HitBTC is a cryptocurrency exchange founded in 2013, allowing users to trade crypto assets against numerous cryptocurrency pairs. HitBTC claims to be “the most advanced Bitcoin exchange in the world.”
The company running this exchange is HiTech Digital Business Ltd, incorporated in the British Virgin Islands, i.e. an offshore jurisdiction. Our HitBTC Review will focus on the current state of this exchange is in and whether you can trade safely on it.
At the time of this writing, the hitbtc exchange website claims that the HiTech Digital Business Ltd company is based in the British Virgin Islands. So what is hitbtc? It is essentially an offshore crypto exchange.
Other reviews and sources suggest that this business is based elsewhere – Hong Kong, Europe, etc. Regardless, the fact is that HitBTC is not regulated, which is a huge red flag. Trading volatile assets such as crypto on an unregulated platform is a terrible idea and the Spanish regulator, the CNMV, seems to agree.
fake scam and ponzi website, i recommend you report them to legal company action to be made and get your money. I reported them to the company on my headline and my money was giving back
No Withdraw available for 2 Years now. “They are working on it” – Scam! Don´t put anymore money in! They are insolvent! You wont never get your money back!
Some of the common complaints and concerns about HitBTC include customer support issues, withdrawal problems, lack of transparency, freezing accounts, and missing funds.
Many users reported difficulties in reaching customer support and receiving timely responses to their issues. Some users claimed that they experienced delays or difficulties in withdrawing their funds from the exchange.
There were also complaints from users who stated that their accounts were frozen or suspended without clear explanations. Moreover, several users reported instances of funds disappearing from their accounts.
HitBTC has been active on various social media platforms – Twitter, Facebook, Telegram, Reddit, etc. These social media channels were used to find potential victims, advertise the company’s shady platform, entice users, and create the perfect illusion of a legitimate crypto exchange.
The company was founded in 2013. One decade later, it turned out that HitBTC is a pure scam. After doing some research, we managed to find out who are the victims of this scheme, i.e. in which countries they reside. Here’s a list:
Needless to say, HitBTC has no right to provide services in any of these countries. You must always first check the regulatory status of your provider before investing any funds.
Scams are getting more and more tricky. If you are a victim of a crypto scam, please contact us for help.
HitBTC supports a wide range of cryptocurrencies and digital assets for trading. They offered a variety of trading pairs, allowing users to trade one cryptocurrency against another or against fiat currencies like USD or EUR. The list of crypto assets available is extensive and includes popular cryptocurrencies such as:
HitBTC also listed numerous lesser-known and newly-launched cryptocurrencies, as well as various ERC-20 tokens built on the Ethereum blockchain.
In addition, the hitbtc bot trading option is also available. Trading bots are software programs that execute trades on behalf of users based on predefined parameters and strategies. These bots can analyze market data, monitor price movements, and execute trades at a speed and frequency that is not possible for manual traders.
The hitbtc app includes Application Programming Interface (API) integration, allowing users to connect their trading bots directly to their HitBTC accounts. Through the API, trading bots can access real-time market data, place orders, and manage trades.
HitBTC offers three live account types:
The company also offers a risk-free demo account per the hitbtc login page, allowing users to try out trading without risking any real investments. The demo account can also be used for educational and training purposes. However, the danger lies in trading with real funds.
If you’re having withdrawal issues with HitBTC, book a free consultation with us.
The maximum leverage that HitBTC allows is 1:12 (for certain coins). Bear in mind that this level is extremely risky for volatile assets such as crypto.
When it comes to the hitbtc fees, for the Starter and General accounts, there is a flat 0.01% maker fee and a 0.25% taker fee. For the Upgraded account, the commission depends on the trading volume for the last 30 days.
The maximum commission applies for traders trading from 0 to 10 BTC per month (0.09% maker and taker). The cryptocurrency exchange has transaction limits. The average HitBTC commission is 2.5%, which is not that high but not favorable either.
HitBTC supports withdrawals in cryptocurrencies only. Users can withdraw their cryptocurrency funds from their HitBTC accounts to external wallets by providing the destination wallet address and completing the necessary security verification steps.
To sum up, HitBTC is an offshore crypto exchange founded in 2013. Since then, the exchange has scammed unsuspecting traders from the US, Brazil, India, Serbia, and Turkyie.
We do not recommend you trade on this exchange. If you are a victim of this scam, we can help you recover your funds. Book a free consultation with our team and we’ll go through your case. Recover crypto funds is possible with CipherTrace.
If HitBTC scammed you, let us know.
HitBTC is an offshore crypto exchange that offers a large number of crypto coins for trading.
HitBTC is not safe – this exchange was blacklisted by the Spanish CNMV in 2022.
No. You must complete the verification process if you want to withdraw funds from HitBTC. If you have issues, contact us for help.
HitBTC claims that the company does not charge any withdrawal fees.
The post HitBTC Review: What Is Known About This Crypto Exchange appeared first on Global Fraud Protection.