HOTBIT REVIEW 2022

It's crucial to keep several aspects in mind when looking for a reputable cryptocurrency trading platform, including charting features, trading pairs, trading fees, deposit methods, security, ease of use, and client support.
Hotbit is one of the most effective platforms for meeting all of these requirements. State-of-the-art trading platforms for global users are available here.
It includes six languages such as English, Chinese, Russian, Turkish, Thai, and Korean, in addition to English. Around 7 million customers have registered with this exchange, which operates in over 170 nations worldwide.

Features of Hotbit Exchange

Hotbit has more than 700,000 active and registered users, and it operates in many countries.
It focuses on the world’s most developing markets like Japan, Russia, South Korea, Southeast Asian countries, and Turkey.
This exchange platform has more users accumulated through telegram, Twitter, WeChat, Facebook, and VK.
The users can execute a trade using more than 200 crypto assets.
The users can trade with ETFs using cryptocurrencies.
As per the market review, Hotbit offers only spot trading and does not offer margin trading.
Hotbit exchange has advanced charting tools and trading features.
The Hotbit trading platform offers a mobile trading app available on iOS and Android.
Hotbit exchange ranks as one of the best crypto coin exchanges regarding the number of cryptocurrencies traded on the platform. It has more than $100 million as a daily trading volume.
Hotbit has different trading fees for takers and makers, which is a norm in today’s trading business. Further, Hotbit’s exchange trading fee for takers is at par with the industry average.
Hotbit trading exchange features an array of coins combined with trading pairs with many altcoins, several trading pairs with DeFi tokens, and unique coins.

HotBit Review – Pros and Cons
Pros:
Hotbit exchange provides several crypto pairs like BTC, ETH, USDT, etc. for its users.
This platform does not require KYC for registration.
Hotbit platform offers a mobile app.
This exchange offers its service in multiple languages.
Hotbit is available in 210 countries, and it has more than 7 million users.
Cons:
Hotbit exchange does not support US customers.
It does not offer margin trading.
Hotbit does not have an affiliate program currently.

How to Trade With Hotbit Exchange?

The most important feature is the charting interface, and this feature should be considered before a user selects a crypto exchange for trading. Several traders trading in cryptocurrency rely mostly on technical analysis to find the right edge in the market.

When the trader first logs in to the Hotbit platform, they check the overall intuitive and beginner-friendly interface and great features for its users. Further, Hotbit offers a mobile app so that the traders can trade on the go.

Hotbit charts are offered by Tradingview, which are intuitive, smooth, and clean. It permits the traders to use advanced indicators and trading tools to their advantage for maximizing profits and minimizing the risk.

Hotbit Exchange Fees & Limit

When choosing a cryptocurrency trading exchange to buy, sell, or trade-in digital assets, exchange trading fees play an important role. The transaction cost should be analyzed when the user considers trading larger positions.

Hotbit Deposit Fees

Hotbit deposit fees are zero. Currently, Hotbit deposit fees are charged in 22 various cryptocurrencies. Moreover, it does not charge fees for deposits for the coins to be traded on the platform.

Hotbit Withdrawal Fees

The industry average for a withdrawal fee is 0.0008 BTC when the user wants to withdraw BTC, but few exchanges have started to go with 0.005 BTC as a withdrawal fee, which is establishing itself as the new norm.
Hotbit is the exchange where withdrawal fees are fixed, irrespective of the number of cryptos withdrawn, and it differs from crypto to crypto. Hotbit withdrawal fees are determined by the network cost of the blockchain and not the platform.
It does not charge any specific cost to withdraw cryptocurrency from the exchange. Further, Hotbit withdrawal fees for primary tokens, such as BTC, ETH, and USDT, are charged reasonable fees like 2 USDT, 0.01 ETH, and 0.001 BTC.

Hotbit Trading Fees

Hotbit trading fees are based on the maker and taker model; the taker’s fee is 0.20% to 0.65% of the order value. The taker fees are high when compared to other exchanges. However, the traders can use the platform’s native cryptocurrency token – HTB token to reduce the transaction fees, which is -0.05% to -0.50% for any maker models.

Hotbit Liquidity

Since its inception, Hotbit has been growing exponentially. In 2018, according to Coinmarketcap, Hotbit ranked #47 with the highest 24-hour trading volume that was USD 21 million.
In November 2019, Hotbit moved higher to its last year ranking #13, and its 24-hour trading volume was 1.0 billion USD.
In 2020, during the pandemic, Hotbit ranked 6th, and the trading volume went up to 2.3 billion USD showing that there is no problem with the high liquidity with this exchange.

Hotbit Token (HTB)

According to the Hotbit review, Hotbit offers its native token, referred to as HTB token. There are several cases where it is used to reward its users with an HTB token. They can use it on the platform, and it has developed several use cases for the utility of the tokens, thereby increasing their value.
The Hotbit exchange platform has created a digital-asset system, and the contributors to this system are rewarded with HTB tokens. In addition, the platform has IEO sales that can be brought only with the token.
A small number of transaction fees charged by the exchange are used to buy HTB in the open market by increasing demand. Thus, half of the purchased tokens will be burnt, and the balance half will be utilized for marketing campaigns.

Security Measures at Hotbit Exchange

The Hotbit website informs that it offers the highest security measures and features to protect its trader’s funds. Also, it provides the following security measures:-
It has two-factor authentication, which is considered the standard account protection norm for any crypto exchange.
When the user wants to withdraw their funds, email verification is sent to their email, and after confirming the transactions, the process is carried out.
Users are asked to use SMS verification when they are logging in, withdrawing, managing API, and modifying passwords.

Hotbit Exchange Supported Cryptocurrencies

Currently, Hotbit supports a wide range of cryptocurrencies and more than 1500 trading pairs with over $100 million as trading volume. In addition, this crypto exchange supports new coins regularly, which provides a competitive edge for experienced traders.
As per Coinmarketcap, as of 2019 October, the Hotbit trading platform has listed 547 trading pairs and ranked #3 compared with other exchanges regarding the number of cryptocurrency projects listed.

Hotbit Customer Support

Hotbit customer support is prompt and knowledgeable. One of the advantageous features of Hotbit customer support is that the customer can contact support in several ways. One of the common methods is through a support ticketing system. They can also be contacted directly on their WeChat group, official Chinese and English telegram channels, official Twitter account, and also through Facebook accounts. Further, the customers are offered answers within a short time.

Final Thoughts

To conclude, Hotbit is one of the popular cryptocurrency exchanges, and it’s growing exponentially. This platform can be considered if the trader wants to trade with a wide variety of altcoins as they offer several varieties of coins. One of the most beneficial features of this exchange is they list the tokens immediately. This company also provides a wide list of trading pairs and offers its users new digital assets and tokens. Even though this platform does not have an affiliate program to encourage its users, comparing its other features, we can say that it is a good platform that offers multi-currency support, reasonable trading fee, and high security. Further, it notifies the user to provide two-factor authentication to safeguard their assets and trade on this platform.

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