Many individuals are looking for a good bitcoin trading exchange. They must consider numerous factors, including charting tools, trading pairs, trading costs, deposit methods, security, the convenience of use, and customer support. This post will look at the HotBit review. This cryptocurrency exchange provides cutting-edge trading platforms to its global clientele.
It is also available in six additional languages, including English, Chinese, Russian, Turkish, Thai, and Korean. This exchange has over 7 million registered customers and is available in over 170 countries worldwide.
What Exactly is HotBit?
Hotbit exchange is one of the main cryptocurrency exchanges, with extensive features, a mobile app, and an easy-to-use user interface. This exchange has worked with major blockchain technology industry partners like Spark Pool, Mytoken, F2pool, HashQuark, and Slow Mist to provide traders and investors with a safe, stable, and feature-rich trading environment.
Since its inception, this bitcoin trading website has attracted over 7 million active users from over 170 countries.
Is HotBit Safe?
Hotbit is a legitimate cryptocurrency exchange with millions of users from all around the world. According to Coinmarketcap, it has become one of the world’s largest and fastest-growing exchanges in terms of the daily trading volume. Hotbit has an internal review audit team that provides a real-time online audit service for users’ assets 24 hours a day, seven days a week.
This cryptocurrency exchange has formed alliances with major audit teams in the cryptocurrency sector, such as Beosin and Slow Mist. Hotbit looks for possible security issues and notifies them before changing them.
Features of HotBit Exchange
Let’s take a look at some of the Hotbit exchange’s features:
- Our review shows that Horbit has over 700,000 active registered users and is available in various countries.
- It focuses on emerging markets such as Japan, Russia, South Korea, Southeast Asian nations, and Turkey.
- This trading platform has more users than Telegram, Twitter, WeChat, Facebook, and VK combined.
- Users can perform trades with over 200 crypto assets.
- Users can use cryptocurrency to trade using ETFs.
- According to the market evaluation, Hotbit solely provides spot trading and does not provide leveraged trading. It exchange provides comprehensive charting and trading capabilities.
- The Hotbit trading platform includes a mobile trading app for iOS and Android.
- Regarding the number of cryptocurrencies exchanged on the site, the Hotbit exchange is among the top. Its daily trade volume exceeds $100 million.
- It provides distinct trading costs for takers and makers, which is standard in today’s trading industry. In addition, it’s exchange trading charge for takers is comparable to the industry norm.
- Hotbit trading exchange offers a variety of coins, trading pairings with various altcoins and several trading pairs with DeFi tokens and unique coins.
Pros and Cons
Pros
- Hotbit exchange offers many crypto pairings to its consumers, including BTC, ETH, and USDT.
- Registration on this site does not necessitate KYC.
- The platform includes a mobile app.
- This exchange offers its service in several languages.
- Hotbit has over 7 million users and is available in 210 countries.
Cons
- Exchange does not accept customers from the United States.
- Margin trading is not available.
- Hotbit presently does not have an affiliate program.
Also read: Paxful Review: Is Paxful Legit and Secure?
How to Register in HotBit Exchange?
Next, our review will look at how to register at HotBit Exchange. Registering on this platform is two main ways: by email or using a cellphone number. Entering the code provided to the registered phone or email is required. Because they have high-risk intuitively control measures, this site does not require users to submit their KYC data for trading.
If they are activated, Hotbit may request KYC from the user, frequently triggered when the user withdraws money. To register on the Hotbit platform, the user must go to the homepage and click the Register button. They are then prompted to submit their email address and agree to the terms and conditions. The next step is to confirm the account using the key code given through email.
At this point, the user should employ two-factor authentication by sending a text message to a cell phone or using Google authenticator. To finish the account setup, customers must input the authentication code they get. Finally, they may access their account, deposit funds, and begin trading.
How does the Hotbit Exchange Work?
Now, our review will look at how does HotBit Exchange work. The charting interface is the most significant before choosing a crypto exchange for trading. Several bitcoin traders rely heavily on technical analysis to get an advantage in the market.
When a trader first logs onto the Hotbit platform, they examine the overall intuitive and beginner-friendly layout and the fantastic tools available to their customers. Furthermore, It provides a mobile app for traders to trade while on the go. Tradingview provides Hotbit charts that are easy to use, fluid, and clear. It enables traders to use advanced indicators and trading tools to maximize earnings while limiting risk.
Fees and Restrictions
Fees and restrictions are crucial factors in our HotBit Review. Exchange trading fees are critical when deciding on a cryptocurrency exchange to purchase, sell, or trade digital assets. When considering trading larger holdings, the user should consider the transaction cost.
Deposit Fees
Hotbit has no deposit fees. But the exchange now charges deposit fees in 22 different cryptocurrencies. Furthermore, there are no deposit fees for exchanging currencies on the site.
Withdrawals Fees
When a user wants to withdraw BTC, the industry average for a withdrawal fee is 0.0008 BTC, but a few exchanges have started to go with 0.005 BTC as a withdrawal fee, establishing itself as the new norm. Hotbit is an exchange with fixed withdrawal costs regardless of the number of cryptos withdrawn, and it varies by crypto.
The network cost of the blockchain, not the platform, determines Hotbit withdrawal costs. There are no fees associated with withdrawing bitcoin from the exchange. Furthermore, the withdrawal costs for main tokens like BTC, ETH, and USDT are affordable at 2 USDT, 0.01 ETH, and 0.001 BTC.
Trading Fees
Hotbit trading costs work on the maker and taker approach, with the taker’s charge ranging from 0.20% to 0.65% of the order amount. When compared to other exchanges, the taker costs are considerable. However, traders may utilize the platform’s cryptocurrency token – HTB token – to lower transaction costs, ranging from -0.05% to -0.50% for all maker types.
Final Verdict
Hotbit is a prominent cryptocurrency exchange that is rapidly expanding. This platform is worth considering if the trader wishes to deal with a diverse range of cryptocurrencies. The tokens are listed quickly. This firm also provides a diverse range of trading pairings and introduces new digital assets.
Even if this platform lacks an affiliate scheme to promote customers, we can conclude that it is a robust platform with multi-currency compatibility, fair trading fees, and great security. Furthermore, it alerts customers to offer two-factor authentication to protect their assets and trade on this.
Also read: NAGAX Review: Best Crypto Social Trading Platform
