HitBTC

Crypto Anonymous 224

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Crypto Anonymous posted on May 15, 2020 09:16:46

Been using this exchange a couple of years ago for a few small trades and back then all was good. Also 1 time more recently. So I do not have a negative experience, BUT for doing proper due diligence you might wanna be aware that the internet is filled with negative reviews. Don't know if any of it is true, or malicious attempts to smear this platform, but you should be aware of this.
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One thing to pay attention to is to what coin you wanna trade or withdraw, because for some coins they charge prohibitively large withdrawal fees; so check their withdrawal fee schedule first before depositing anything.

One thing that I do appreciate about the platform is their general lack of KYC for smaller accounts, because I do value privacy a lot! But there are also reports from people claiming that they sometimes randomly try to enforce KYC on users before they can withdraw. Once again, don't know if that is true; I didn't have that experience myself and have been able to withdraw multiple times without any issues.

With all this in mind I would recommend to only use this exchange if for the coin you wanna trade, only HitBTC is available, otherwise consider more reputable ones. Besides if you do trade on it, make sure your deposits are relatively small.

I do wanna add that despite all smears and scam allegations HitBTC has been around for many years now, longer than some of the more high profile exchanges. If they really were such bad actors as some claim, how do they even still exist, I would ask? Same goes for Bitfinex for example; plenty of bad press, accusations and what not, yet it still functions and has not collapsed. This is why I lean towards a neutral classification; my personal experiences were fine, but I wouldn't go out of my way to recommend them either.

Joeri 15

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Joeri posted on May 04, 2020 06:23:51

It's a good place to trade small cap alts. Orderbooks can be very thin though. I have also seen the site become unreachable during very volatile times. Most of the time, however, it works fine.