Counted among the top three crypto exchanges, HotBit definitely has some great features up its sleeves. Founded in 2018, the exchange is registered in Estonia and Hong Kong with its offices in Shanghai and Taipei. This company is an initiative by experts from different parts of the world. The leaders are from the USA, China, and Taiwan. In terms of a variety of crypto projects listed on the exchange, the platform has been ranked third in position earlier. And still, HotBit provides huge opportunities for trading with multiple digital assets.
Among many other exchanges, there are very few names that are recognized as safe. And, HotBit turns out to be one of these platforms that have been away from any serious threats and phishing attacks since its inception. The platform is also very easy to handle and introduces traders to a variety of altcoin pairs and coins to trade with. Available globally, the exchange has over 1.5 million users worldwide and caters to the high trading volume per day.
There are many reasons to choose HotBit over other alternatives. Starting with, the exchange offers multi-currency support. Hence, traders from different parts of the world can trade with a wide array of cryptocurrencies. Plus, with high liquidity, users can enjoy amazing perks with trading from this platform. Moreover, the exchange offers 24 by 7 customer service. Above all, it is secure and safe to trade. Having all these qualities, it becomes certain why many users feel HotBit as the best choice of all.
In this review, let us explore the various features of the platform along with the ways to handle the trading and other processes.
How to Sign Up for HotBit?
Signing up for Hotbit is easy and simple. Without much effort, you can start trading in no time. Have you ever signed up for an e-commerce website or an email? If that is so, you would find it likely similar. At first, you must visit the official website of HotBit. There you would find the option to register with HotBit. Follow the steps as asked. Enter all the details correctly and verify your email address. To do so, enter the OTP sent on the email address you provided during the account signing up with HotBit.
Once you do that, you can simply add Bitcoins and start trading. It does not ask you to go through any tedious form filling and documentation process that may be seen as tiring and frustrating. On the contrary, the entire procedure is effortless and easy to follow.
HotBit Trading Platform
Either it’s conventional stock trading or investing in Crypto, what remains the decision-making factor is the depth analysis of a particular asset. And, the best way to do it is through visual representations like charting and graphs. This helps traders understand which cryptos are doing well and which ones are safe to invest in.
In the case of HotBit, you are blessed with a very clear and lucid interface. You even have the trading view that provides you all the detailed analysis you may need to make an informed decision pertaining to the crypto trades.
Traders can also utilize the advanced tools, a part of the entire interface for refining their search and analysis and maximizing their chances of high profit.
When it comes to the supported cryptocurrencies and altcoins, there are numerous options for traders. Alongside this, one can even trade digital coins against different fiat coins pairing.
HotBit Exchange Fee
Known for its very affordable and justified charges, HotBit offers a different fee structure for different services. Here are some of the fees that you must know before trading using HotBit.
Trading Fee: Having a different takers and makers fee isn’t that unlikely with crypto exchanges. This makes it very common with HotBit as well. The exchange charges 0.2% of the order value from the takers. But for makers, there isn’t any fee. On the contrary, the platform rewards makers with 0.05% for making every trade. Moreover, if you use the HotBit native token, HTB, the trading fee for takers is even lower than the usual rates. Making the complete fee structure very much justified and competitive.
Withdrawal Fee: Almost every exchange charges a withdrawal fee. And, the industry average is calculated to be 0.0008 BTC. In the case of HotBit, the withdrawal charge is fixed and varies from cryptocurrency to cryptocurrency. It has an average fee of 0.0005 BTC which is lower than the standard withdrawal rate. This makes the exchange highly competitive and desirable.
Deposit Fee: This is where things get even more interesting. The exchange does not offer any deposit fee and allows deposit in over 22 cryptocurrencies. Hence, you are not paying any fee, either in cryptos or token for depositing assets to the platform.
Is HotBit Secure?
Before getting into the security solutions offered by the exchange, let’s talk about how much legit HOTBIT is.
You would be happy to know that the exchange caters to over 540,000 registered traders and users, coming from over 170 countries and scattered all over the globe. Moreover, the majority of the registered users are from other parts of the world and not China. This clearly showcases the popularity of this exchange. Most of all, in just a few years, the exchange has been able to earn the title of ‘fastest growing exchange globally’ pertaining to the daily traded volume.
Hence, there is no confusion if the exchange is legit or not. Coming back to the security of the exchange, you again can find a lot of great initiatives HotBit has taken to secure its users from possible online threats.
It offers a Multi-level firewall system for keeping consistent monitoring system up and running for data safety
In order to secure customer’s funds and assets, the exchange makes use of cold wallet storage.
Customers are required to pass the 2-factor authentication for an increased level of security of their HotBit accounts
Please note that fees may vary based on your country or purchase amount.
Easy to use Interface
Makers are rewarded for making trades
Wide range of cryptos supported
Negotiable fees for high volume
Long trading history
Withdrawal fees are higher as compared to other exchange
HotBit compared with other exchanges
It has more than 12 million daily users
Caters to over 10 to 12 billion daily trading volume
The lowest trading fee of 0.1 - 0.2 %
It supports over 190+ cryptocurrencies
Works in over 180 countries
It has more than 5 million daily users
Scores over 2 to 5 billion trading volume daily
It supports more than 190 cryptos supported
Users can utilize its Derivative Trading which includes Future as well as SWAP markets
BitcoinFinland24 is an educational website offering users an insight into the different crypto exchanges. We do not indulge in any kind of financial consulting pertaining to crypto investments. On the other hand, we can offer some ground rules that could help you stay safe while investing in digital assets. Firstly, you must only invest the amount you can lose. Also, there are no guaranteed profits with crypto trading because of its high volatile nature. This means that the cryptos’ value can drop as well as rise suddenly. So, you must be ready to invest taking every risk into consideration.
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