Opinion about HitBTC

HitBTC it is a platform to have access to the cryptocurrency exchange. This type of websites have gained many users with the popularization of bitcoin, but this has also caused the appearance of scams that must be avoided at all costs. In this review, we analyze the website and the company and explain why we say that, in our opinion, it is a safe option.

HitBTC emerged in 2013 and, since then, it has been serving its users without controversy or major problems. This is already a good indication to know that a platform is not a scam, but we can also assure you that, contrary to what is said in some internet forums, at no time has the company been dissolved. We explain everything in the section Is HitBTC a scam?

Our experience

After having tried this platform we have to say that we have not had any problems with it. It allows you to invest in a large number of cryptocurrency pairs safely and simply. The company is based in Hong Kong, but the website is perfectly translated into English. One of the most interesting factors is their low fees, which we explain to you in the section on Trading cryptocurrencies on HitBTC.

But the company also has weak points. In this case, the customer service and public relations department seemed insufficient to us. Some might think that this is unimportant, since if it is a quality platform, which it is, there will not be many problems, but the truth is that delays in responses and transparency with a weak point that affects the user experience.

Is HitBTC a scam?

In the past there has been some alarm about the possibility that the company behind this platform had dissolved. An unfounded alarm, but one that may have made many users nervous.

The confusion is due to the fact that being the name of the company HIT Solution Ltd in the United Kingdom there is a company with a very similar name: HIT Solutions Ltd that has been dissolved. This has generated confusion among users and everything has been aggravated by the lack of response from the company's customer service.

The first thing to be clear is that this company is based in Hong Kong, with its good things such as that it has not been dissolved or many and its bad things, such as that your relations with them will be marked by the legality of Hong Kong that is unknown to us. On this particular, you will see many pages, forums and people saying that this is a UK company, but we reiterate that this is an error. This company has its activity in Hong Kong, something that they themselves have confirmed on their forums on occasion.

Therefore, we can say that there is no fraud in the income of money on this website, since it is a perfectly operational company.

HitBTC promotions

There are no promotions or hints that there will be in the future. At the moment we keep the section in case the market trend changes and the platforms start offering offers to new users, but for the moment we have to settle for companies offering good services and good rates.

Trading cryptocurrencies on HitBTC

If we limit ourselves to what are the possibilities of investing in cryptocurrency, this company deserves an outstanding. The number of pairs available is very wide, exceeding 100. It is a perfect website for those who want to invest in cryptocurrency pairs, however, there is not much diversity of cryptocurrencies compared to traditional currencies. In fact, in our review we saw only the BTC/USD pair.

The platform offers information on both the spreads and the depth of each market, being able to see the total volume of buy and sell orders for each available pair.

In addition to this great diversity of options to invest, the most interesting factor of these services is their price. The commission of this website only amounts to 0.1%, being the usual among its competitors 0.25%. In addition, if you create a market, that is, if you launch an order with a better price than the current one, the platform itself will pay you 0.01% in what is an effort on its part to make the market more liquid and efficient.

Payment methods

Deposits are made through cryptocurrencies, for which it is essential that you make sure that you are using the right address with the right cryptocurrency. Many times, the problems come from people trying to send a cryptocurrency to an address that corresponds with a wallet of another different cryptocurrency.

To make the deposit, you first have to create your wallet in the cryptocurrency you want to deposit. To do this, click on the green “Deposit” button and select the cryptocurrency you want. Once this is done, you must go to the website from which you manage your wallet of that cryptocurrency and make an income to the address you have just generated.

Safety and regulations

We are clear that HitBTC is not a scam, but it is still worth taking a look at the security.

As for the more technical aspects, they do their homework well. They have the web protected by SSL encryption so that all the information you send them will be protected from undesirable glances. In addition, you can configure the authentication or verification system in two steps, in such a way that you will increase the security of your access to the web to a great extent. The app that works best on this company's website is Google Authenticator app, but you could use another similar one.

As for the regulations, we have already told you that the company is based in Hong Kong and the laws there are the ones that apply to your relationship with them, which is an important disadvantage, since they are not easy to know due to the language and cultural barrier and because any legal claim could be quite expensive if you had to move. In addition, in their terms and conditions, it is stipulated that you accept an arbitration system and refuse any kind of hearing in a court of law to solve your problems with them. Since they are acceptance contracts, this clause could be considered invalid, but the fact that it is there is not a good sign at all.

In any case, nothing makes you think that you are going to have to go to the extreme of going to trial with them, because the company is legitimate and trustworthy.

Customer service

Here we have to put a "needs to improve". Especially with the doubts that have arisen about its possible dissolution, there was a lot of activity both on the forums and in social networks and in customer service.

In an incomprehensible way, the company let a lot of time pass without responding, generating a totally unnecessary insecurity. We don't know if it's because they really don't have many agents who speak English well, because they don't have enough agents and they were all focused on user verification as has happened with other platforms that have had a big boom of users during the bitcoin bubble or for what other reason it may be. The fact is that while the company pays and it is possible to withdraw and deposit money, its image has been very negatively affected by something easily solvable.

Functionality of the website

The website is entirely in English and fulfills its main objective which is to make it possible to invest in cryptocurrency pairs. Apart from that, it must be said that it would be desirable if the information about the company was more easily available, since it is really not easy at all to find it.

Therefore, a useful website, but not very transparent.

Mobile application

We are not aware that there are official apps of this platform on Google Play or iTunes, so we recommend the utmost caution before downloading anything with its name. We especially recommend to see the support emails and the developer's information well and if they are not from the HitBTC.com , better not to download them.

However, from the mobile you can enter the web and operate on it, make income, etc, so we do not see the absence of app as a big problem.

Finding

Of course this company needs to be more transparent. Surely the way it behaves right now is valid in Hong Kong, but in the Dollarpea Union consumers want more guarantees.

On the other hand, it's a shame that they don't make that little effort because the offer on the website is very good. The commissions are very low, and they even pay you if you generate a market and the list of cryptocurrency pairs is very complete. If you are an experienced trader and you are interested in exotic cryptocurrencies, it will be worth taking a look and deciding for yourself how much you want to deposit. If you simply want to buy bitcoins, in the review of Estafa.info you will find other more transparent options for the user.