HitBTC claims to be the world’s most advanced bitcoin exchange. Find out everything you need to know about the popular trading platform today in our review.
What Is HitBTC?
HitBTC is a bitcoin exchange that offers 0.1% fees on every market trade while letting you trade a variety of cryptocurrencies and fiat currencies – including bitcoin, Dogecoi, Litecoin, the Euro, USD, and a surprising range of lesser-known cryptocurrencies.
HitBTC is best-known for being a robot-friendly exchange. It offers a robust set of APIs that make it attractive to trading bot developers.
Like most other exchanges, HitBTC promises to be safe and secure thanks to 2-factor authentication, advanced encryption technology, and the use of cold storage.
Wikipedia claims that HitBTC is based in Europe. However, the official website lists an address in Hong Kong. The exchange launched in 2013. Originally, HitBTC only let users trade bitcoin (hence the name HitBTC). Soon after, however, it started allowing users to trade Litecoin, Ethereum, Dogecoin, Monero, Dash, and other popular cryptocurrencies.
One of the unique advantages of HitBTC is that it provides support for the FIX protocol – something you don’t see with a lot of cryptocurrency exchanges.
Another unique feature of HitBTC is that it allows demo trading. Demo trading is surprisingly rare in the world of cryptocurrency exchanges. When asked about demo trading, most exchanges simply tell you to make minimum trades of $1 and treat that as your demo.
HitBTC, however, has a full-fledged demo that can introduce users to the world of bitcoin and cryptocurrencies. Many traders got their start with HitBTC.
Some of the key features in HitBTC include:
HitBTC has an information-packed terminal that displays recent trades, currency pairs, and movement over a set period of time. It’s not quite as beginner-friendly as other platforms we’ve seen.
It looks more like a conventional trading platform you see in the stock market world. If you’re looking for a colorful, beginner-oriented UI filled with colorful buttons, then HitBTC may not be the right choice for you.
Fortunately, newbie traders don’t have to dive right into HitBTC with real money. The platform allows demo trading. You can access all trading features without spending your own money. That’s why HitBTC is particularly popular among not just beginners, but also among developers who want to test their trading bots.
HitBTC lets you deposit and withdraw from two fiat currencies: EUR and USD. You can also exchange these fiat currencies for a number of different cryptocurrencies.
HitBTC provides two step verification for all users through Google Authenticator. Two factor authentication is used for all logins and withdrawals. Another additional security feature is the ability to view recent activity at the bottom of the settings page.
This lets you check if someone is attempting to access your account from some location maliciously. Other HitBTC security features include cold storage and advanced encryption technology – both of which are pretty standard across the exchange industry.
HitBTC is popular for its API, which comes with several interfaces to make it easy to implement into custom software. Those interfaces include the RESTful API, socket.io, and Streaming API. RESTful API lets users access market data, perform trading operations, and manage funds.
Basically, it allows you to access the full range of features of HitBTC. Socket.io, on the other hand, is a protocol that lets you receive market data, and Streaming API lets you access market data and trading operations.
FIX Protocol Support:
One of the most attractive features of HitBTC is its support for the FIX protocol. HitBTC supports FIX via two types of interfaces, including FIX Trading and FIX Market data.
HitBTC charges 0.1% on every market trade, and LP orders have a 0.01% rebate.
HitBTC is based in Hong Kong. The company was founded in 2013, and the exchange launched in 2014 with a small number of cryptocurrency and fiat currency pairs available. Prior to launch, the company received a 6 million Euro venture investment agreement.
HitBTC describes itself as a collaboration between software developers, finance professionals, and experienced traders, and claims its core matching engine “is among the most advanced technological products in its class.”
You can get in touch with the developers of HitBTC by email at [email protected]
Should You Use HitBTC?
HitBTC is a popular cryptocurrency exchange with some unique features that set it apart from the competition. Some of the most popular features of the exchange include support for the FIX protocol and the ability to open a demo trading account.
These features, combined with a robot-friendly API, make HitBTC a very popular option among trading bot developers – and among beginners.
HitBTC is based in Hong Kong and has offered a safe, secure, reputable trading platform since 2013. Visit HitBTC.com to learn more about the popular robot-friendly exchange.