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HitBTC – Exchange Review

by Crypto Soho May 27, 2018 0 comment
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HitBTC

hitbtc logoOverview

What is HitBTC?

HitBTC is a Bitcoin exchange that is unique in many aspects. It opens the door to trade a good number of fiat currencies and cryptocurrencies that include Bitcoin, Litecoin, Dogecoin, USD, Euro and a lot of cryptocurrencies which are competing in the market.

It has also convinced the customers by providing excellent services with very low fees. Only 0.1% of every trade is deducted as a trading fee. It has drawn the attention of the trading bot developers for its robot-friendly nature. Besides, 2-factor authentication, use of cold storage, efficient encryption technology, and many more outstanding properties have made the position of HitBTC firm and solid in the market.

According to Wikipedia, HitBTC is a Europe based exchange platform. However, an address located in Hong Kong is also listed in the official site of HitBTC. Back in 2013, it started its journey with a view to providing only bitcoin trading facilities to the users. Later on, the platform extended its function and started allowing users to trade Ethereum, Litecoin, Monero, Dogecoin, Dash and so on. It has come up with some ravishing features such as supporting FIX protocol, demo trading etc.

 

Features of HitBTC

Trading Platform

Its trading platform resembles the traditional ones usually seen in the stock markets. To understand the platform, a user needs to have a bit of pre-knowledge about it as it is not quite friendly for the beginners. The terminal of HitBTC has information panels that display available currency pairs, info of recent trades and so on.

Demo Trading

Demo trading is not that common in any other cryptocurrency exchanges around the globe. In their system, demo trading means to trade minimum $1 considering it a demo. But a beginner is allowed not to invest real money in the first place, thanks to the complete demo trading feature of the platform. It also encourages the developers to run experiments on their trading bots.

API

API stands for Application Program Interface. The API of HitBTC has made the implementation into custom software easier with interfaces like RESTful API, Streaming API, socket.io etc. RESTful API allows the community of the users to perform trading related operations, to access market data, and to manage funds. That is, this API is a tool that helps to use HitBTC to the fullest. Socket.io allows the users to collect market data.

FIX Protocol

To support FIX protocol is one of the attractive features of HitBTC. It supports the protocol via two kinds of interfaces such as FIX Market data and FIX Trading.

Fiat Operations

HitBTC provides the facility to exchange, withdraw and restore two fiat currencies: USD and Euro. Customers are allowed to exchange fiat money for a large number of cryptocurrencies.

Security

The security of the exchange is maintained by two-factor authentication process by Google Authenticator. It is strengthened further by efficient encryption technology and cold storage facility. There is also an option to revise recent activities of the account in order to detect any malicious attempt to access the account.

 

Conclusion

The features of HitBTC discussed above are surely enough to convince the customers both the beginners and the experienced ones. Hopefully, it will attract concerned traders more and will snatch its target.

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