Hotbit

Hotbit – is an exchange for cryptocurrency trading which appeared on the financial market in 2017. The company was registered in Singapore, and the main office is currently located in Shanghai. The platform is characterized by a large number of trading pairs.

In this review, we’ll take a closer look at the opportunities offered to traders by the site and find out if Hotbit is a scam or a reliable cryptocurrency exchange.

Discount 10% on commissions – Get

 

Why Hotbit?

The cryptocurrency trading platform appeared on the international market three years ago and has already gained popularity among its users. At the moment, the exchange has more than 500,000 traders from more than 170 countries. As the company focuses on the international market, the official website hotbit.io is available in 7 languages. The advantage is the availability of the Russian version of the interface. For its customers, the exchange provides a really large number of trading pairs and tokens for trading, namely 885 coins. Due to the fact that the company constantly updates the list of coins and supports multicurrency, users get access to a more varied cryptocurrency trading (How to Make Money on Cryptocurrency?). Trading itself is done through a simple and convenient platform consisting of the following blocks:

• on the left you can see a list of currency pairs to trade;
• In the middle there is a graph Trading View, and below the order to buy and sell cryptocurrencies, as well as the history of buying and selling assets;
• On the right, the client can view the order stack.

In order for traders to have constant access to the trading platform, a mobile application was created. Thus, it is possible to exchange digital assets at any time from anywhere in the world. Both iOS and Android versions are available.

 

Among the advantages of the project are:

• a large selection of trading pairs;
• simple and straightforward interface;
• 24-hour technical support;
• mobile app;
• security;
• Withdrawal of funds without mandatory verification;
• promotions and bonuses for users;
• Loyal Commissions.

 

 

How to exchange cryptocurrency on the Hotbit platform?

To exchange cryptocurrencies, the client must first register a profile and log in to the system on the website hotbit.io. The following are a few simple steps to follow:

• go to the trade tab;
• choose cryptocurrencies for trading;
• fill in the order fields, specifying the amount of cryptocurrency to be exchanged;
• press the corresponding button.

 

 

Verification on the hotbit.io platform

The main feature of the exchange is the absence of mandatory verification. Thus, traders can easily deposit and withdraw their earnings without providing additional documents.

 

 

Deposit and withdrawal

To deposit funds to your balance, the user must first go to the tab “Fund/Deposits” and perform a few simple steps:

• choose the right coin;
• copy the address and send coins to it from your wallet.

It is also possible to deposit funds to the account through the following payment systems:

• Epay;
• AdvCash;
• Perfect Money;
• Payeer;
• FasaPay.

Withdrawal of funds

You can withdraw earnings from your wallet at any time. To do this, you should:

• select “Withdrawals” in the appropriate section;
• indicate the address and the amount;
• enter the confirmation code.

The withdrawal process can take several hours.

Cryptoexchange Commission

There is no deposit fee on the exchange. The platform charges a fee for withdrawals, which directly depends on the selected currency type. For Bitcoin the commission is 0.001 BTC. The trading commission for the maker is 0.05%, and for the taker 0.20%.

 

Hotbit Bonuses

From time to time on the website hotbit.io There are various special offers for traders. Let’s look at some of them.

Discount 10% on commissions

You can get 10% discount on cryptocurrency exchange Hotbit commissions. Hurry up to take advantage of this great offer while it’s still valid!

Referral program

The referral program will allow users to invite new traders to the project and receive compensation for this.

 

Complaints about Hotbit

For three years of uninterrupted operation of the platform, quite a lot of feedback has accumulated online from clients, including those from Russia. There are both positive and negative comments about the project. The advantages of traders have a large number of trading pairs, user-friendly interface, a mobile application, the rapid withdrawal of earnings, the lack of mandatory verification. The drawbacks include the lack of a referral program, the presence of bots, long response time from the support team, frequently blocked accounts and problems with password recovery.

If there are any reviews about Hotbit Crypto Exchange, we will definitely publish the information on social networks. Sign up so you don’t miss anything!

Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

 

Regulation of crypto exchange Hotbit

To protect yourself from fraudsters, before you start cooperating with a cryptocurrency exchange, you should check the availability of necessary documentation and license on the website. Let’s take a closer look at how the project is regulated. It is known that the site is not subject to the control of any state organization, and also has no accompanying licenses. On the site you can find all the necessary documentation for users, namely the “User Agreement” and “Privacy Policy”. The location of the main office of the company is concealed.

• Read the Privacy Policy on Hotbit’s website
• Read the User Agreement on hotbit.io

Hotbit.io User Agreement

“User agreement” is the main document that users can find on the site. The agreement provides information on the rules of cooperation with the exchange, as well as the rights and obligations of both customers and the administration of the project. The disadvantage is that the document is presented only in English. Let us consider the main points in more detail. The agreement specifies the information that by accessing, viewing or downloading information from the site and using the service provided by Hotbit, the user confirms that he has read, understood and unconditionally agreed to comply with these conditions.

The Company may, in turn, change these terms and conditions at any time without prior notice. The Customer agrees to abide by any amended terms and conditions and Hotbit is under no obligation to notify traders of such changes. The Customer agrees to check these terms and conditions periodically for changes and the continued use of the website and the services offered by the Company after the posting of any changes to the terms and conditions shall constitute acceptance of any such changes.

The Client understands and accepts that transactions in digital assets may be suspended or prohibited at any time in connection with the adoption or amendment of national laws, regulations and regulatory documents. It is also worth considering that the opinions, information, discussions, analyses, prices, advice and other information on the website are general market reviews and do not constitute any investment recommendations. The Administration shall not be liable for any damages arising directly or indirectly from the use of the above-mentioned information, including, but not limited to, lost profits.

It is prohibited to use the platform for any illegal activities such as money laundering, smuggling and commercial bribery. If any such illegal activity is detected, the project administration will take all available measures, including but not limited to freezing accounts, notifying the relevant authorities, and so on. In this case, the company will not assume any obligations arising from this and reserves the right to hold the relevant persons liable.

The user agrees not to allow anyone to use or manage his/her account and to update Hotbit in the event of any changes in information or in the event of account hacking. It is the responsibility of the trader to store and protect any keys, certificates, passwords, access codes, user IDs or other credentials and login information that have been provided or generated in connection with the use of the platform. User must notify Hotbit immediately of any unauthorized use of passwords. Hotbit shall not be liable for any liability, loss or damage resulting from the unauthorized use of passwords.

User acknowledges that Hotbit has the right to completely or partially discontinue the service, temporarily or permanently block (cancel) the authorization of your account at its sole discretion, without any prior notice for any reason. Hotbit also has the right to retain and use transaction data, records and other information pertaining to such account. In any of these cases, Hotbit has the right to directly terminate the agreement by canceling the account and also has the right to permanently block (cancel) the authorization of the account. These cases include:

• registering multiple accounts after the first one has been blocked;
• the email address listed does not exist or cannot receive emails, and the company has no other means of contacting you;
• The administration was able to establish contact with the client through other means of communication;
• the main content of the information provided by the client is unreliable, inaccurate, outdated or incomplete.

Customer Service

To contact the support team, you can only use the feedback form, which can be found under “Contact Us”. The disadvantage is that there is no possibility to communicate with the support via e-mail. The site also provides a section “FAQ”, where the user can find answers to common questions about the company. A separate page with a detailed manual has been created for beginners.

 

Is Hotbit a Scam?

Hotbit is a young platform for cryptocurrency trading, which appeared on the market in 2017. In a fairly short period, the project managed to attract the attention of more than 500,000 traders around the world and continues to evolve. The company is headquartered in Shanghai, but the organization was registered in Singapore. The main advantage of the platform is a really huge number of coins and tokens to trade. There are currently 885 coins on the exchange and their number is constantly being updated. Also an advantage is the availability of a user guide, which allows newcomers to get to grips with the project faster. A mobile application was developed for the convenience of users.

On the Internet you can find a fairly large number of reviews from traders. There are both positive and negative comments about the project. After examining the opportunities the platform offers to its customers, can we conclude that Hotbit is a scam and fraud? No, even though the exchange has flaws, customers can withdraw their earnings from the project and successfully cooperate with it.

 

Conclusion

Young Exchange Hotbit appeared on the financial market relatively recently and has a number of disadvantages. Thus, the company has a limited number of channels for communication with the support service. Also, although the site has a Russian-language interface, it has been translated illiterately enough, which complicates the user’s work with the exchange, and many sections remain unfinished. If you have cooperated with the exchange for trading digital assets Hotbit, leave your independent opinion about the platform on our website.