|Top Country||United States|
More Info About Exchange
As the world’s most advanced cryptocurrency exchange, HitBTC offers markets for over 300 cryptocurrencies. HitBTC delivers the fastest, powerful and most reliable cryptocurrency exchange solution on the market. The platform is reputable for high availability, flawless uptime, and fault-tolerance.
How it Works
HitBTC prides itself as a leading European cryptocurrency trading service targeting individual traders, merchants and institutions globally. Since it came to the cryptocurrency market in 2013, it is under Ullus Corporation. Popular digital currencies supported on the exchange platform include USDT, Monero, Dogecoin, Litecoin, Ethereum and Bitcoin. Users can also trade flat currencies such as USD and EUR on the platform.
Fiat withdrawals/deposits within the European Union on HitBTC can occur via SEPA transfers. HitBTC is on the verge of implementing state-of-the-art technologies for cryptocurrency trading. The service relies on its core marching engine for advanced order matching algorithms, which implements real-time clearing.
HIT Technologies, which consists of experienced traders high-level finance professionals and outstanding technical minds, built HitBTC. Ullus Corporation, a Denmark company, currently operates the cryptocurrency exchange service. HitBTC began back in 2013 with venture capital of $6 million. The platform officially began trading USD/EUR, BTC/LTC, BTC/EUR and BTC/USD in February 2014.
HitBTC successfully released Comprehensive Demo Trading as a trading feature for beginners and experts in April 2014. The feature facilitates the adjustment of API settings and testing of trading strategies. Altcoins voting program became known in May 2014. The program allows the community to vote the alternative cryptocurrencies that should be on the market.
Trading pairs with altcoins including XMR, BCN, FCN, NXT, QCN and DOGE first got to the HitBTC platform in summer 2014. HitBTC also added the TeraExchange Bitcoin Price Index on its trading portal in September 2014. The tool offers real-time information on currency values and bids.
HitBTC features a rebate system for creating high liquidity that is attractive to powerful market makers. The platform has no limits for withdrawing or depositing digital assets. With over 500 instruments, HitBTC has most advanced API on the cryptocurrency market. Other features of the platform are as follows:
1. HitBTC Price Widget
The HitBTC CryptoCoin Price Ticker widget gives website owners and managers an overview of the current HitBTC exchange rates. You can add the widget to any article, blog or website. The price widget offers insights on the current ask prices, 24-hour values and bids. Users can choose their preferred currency, color and size and configure the presented information.
2. Market Maker Contracts
Market Maker Contracts is a tool that targets API traders who want to maximize their trading experiences. The feature offers rebate bonuses and cash incentives to these traders. Market Maker allows them to add new currencies to the exchange and provides them detailed performance evaluation reports daily. HitBTC usually monitors the market making activity and reviews the existing contracts every month.
3. Guest Mode
Guest Mode enables users to discover the cryptocurrency market effortlessly. The feature gives every user a chance to check the latest market data, order book and charts. As a guest, you do not need to log in to an account to view these insights.
4. Two Factor Authentication (2FA)
HitBTC uses two-factor authentication (2FA) to secure all logins and withdrawals. The platform offers the security feature to users on their accounts. As a user, you will get notifications when someone attempts to log in or maliciously accesses your account.
The terminal is a responsive and feature-packed tool for traders. The tool allows users to trade different currency pairs in few seconds effortlessly. Terminal usually updates the Bids and Asks in real time and offers a solid chart to the users.
6. Demo Trading
Demo Trading is one of the tools for cryptocurrency trading that sets HitBTC apart from its competitors. The feature allows novice traders to learn what HitBTC has to offer and gain valuable trading experience. Demo Trading also allows skilled users to use the demo platform for testing out their demo robots.
How HitBTC differs from other cryptocurrency exchanges
Unlike other cryptocurrency exchanges, HitBTC has a dependable API to offer easy back-office integration to traders. The dependable API targets algorithmic traders and is compatible with algorithmic trading systems and HFT set-ups. HitBTC boasts of an asynchronous WebSocket-based trading interface and a Websocket subscription for trades and prices. To meet the demands of institutional clients, HitBTC allows access to its trading platform through the FIX protocol.
Currencies and Pairs
Users can trade over ten currency pairs on HitBTC. They include NXT/BTC, BCN/BTC, XMR/BTC, DOGE/BTC, GPB/USD and EUR/GBP. Others include EUR/USD, LTC/BTC, LTC/EUR, LTC/USD, BTC/EUR and BTC/USD. The market markers’ activity and user votes determine the new coins added to the exchange. DOGE was the first coin added as a result of winning the coin contest.
NXT coin is the most recent coin to join the exchange after winning the community-vote driven coin contest. HitBTC accepts account funding in EUR and USD currencies. The platform charges zero processing fees or commission on SEPA payments made using the EUR currency. The processing time can range from one to three days.
To narrow the spread and maximize liquidity on cryptocurrency markets, HitBTC uses the “maker-taker” model. The model encourages “makers” to continue adding liquidity to the market. Maker-taker fees aim at stimulating trading activities by allowing for extensions on post orders. HitBTC charges the “takers” a 0.1 percent fee from the trade.
“Makers”, on the other hand, do not pay anything. They only receive a rebate of 0.001 percent from every trade. In HitBTC’s maker-taker model, the “taker” is a trader that places an order that matches an existing order on the trading book to remove liquidity from the book. The taker has the mandate to pay the fee from every committed trade.
The “maker” is a trader that places a limit order below the buyer’s best ask price and above the seller’s best bid price to provide liquidity to the order book. Consequently, a rebate is a reward paid to the “maker” by HitBTC for providing liquidity to the market. HitBTC benefits by charging each customer that takes that liquidity.
Pros & Cons
|Anonymous accounts||No mobile app|
|Fiat deposits and withdrawals (USD/EUR)||Difficult and time consuming verification process|
|Multi-language support||Slow withdrawals|