Although the domicile of the HotBit exchange isn’t very clear, some speculate the company is operating from China. It has been able to accumulate over 540,000 users trading on the platform from 170 different countries. That accounts for something, doesn’t that? HotBit crypto exchange is a relatively new crypto exchange. The exchange launched in 2018 and the company operating the exchange is Shanghai Gametree Information Technology Co. Ltd. Making it a reasonable doubt to think that HotBit is from China. Working our way past that information, there is a lot more to understand about this crypto exchange. In particular, things that make this platform reliable and trustworthy among such a huge list of supporters.

First of all, HotBit trading supports multiple digital assets including many unusual ones that you may not find anywhere else. There is a multi currency support for over 600 cryptocurrencies listed on the crypto exchange. It may sound like a deal of a lifetime. The experienced crypto traders would understand the worth of such an opportunity for sure. They will also appreciate Hotbit’s advanced trading tools. Next is the fact that HotBit has very high liquidity. Apart from these perks, HotBit offers a 24/7 customer service and is highly secure. From the date of its release till now, there have been no threats reported. And, it does make this exchange trustworthy enough.

In this Hotbit exchange review, we will find out the various features of this HotBit crypto exchange, what the exchange supports, how to pay trading fees, and much more in order to identify its true worth. If you are looking for an intuitive trading platform for beginners, you must not miss this part at all. So, here we begin.

How to Create an Account on HotBit?

It is much simpler to create an account on HotBit than it is on any other exchange out there. Yes, from the opening of an account and the depositing of cryptos, to crypto trading, all things are just laid out there for you to pick from. An easy interface, a reliable mobile app, lots of information to dig from, a huge list of cryptocurrencies, and whatnot. Because of this, HotBit truly gives a great first impression, and the user’s view on HotBit’s quality of design will likely only improve the more you use it. 

Everything we’ve mentioned becomes available as soon as you sign up for the platform. And, as we said, this won’t be a difficult task to do.

Detailed Instructions on How to Create an Account

To start with crypto trading, you must first visit the HotBit website and opt to register an account with the exchange. As soon as you do that, you will be asked to fill in some details including your email address. Make sure that you have the email account handy as you will receive a verification email on the same account.

This will lead you to the dashboard. You can sign in with the login credentials. It does have the two-factor authentication which you must enable in order to secure your account’s gateway away from threats. 

Later, registered users can deposit the cryptocurrency and start trading. The good news is that you do not need to complete your KYC to deposit or trade on this exchange. However, you must ensure that the KYC Is completed if you wish to withdraw from HotBit.

An Explanation of HotBit’s Fees

The HotBit fee isn’t too high. You would certainly find it lower than the industry average network fees. The exchange charges 0.2% from the takers. However, unlike every other trading platform, the makers of the trades are rather appreciated than being charged. Yes, for making trades, you receive 0.05% from the exchange in return, eliminating the transaction fees.

What is important to note is that the deposits are free as well, i.e. there are no Hotbit deposit fees. Despite this convenient deposit method (or the lack of it, to be more precise), you must pay the withdrawal fee. This is almost equal to the network trading fees and is highly competitive. Some do believe that the withdrawal fees are on the higher side, but you must compare it with other platforms to come to that conclusion. Because what we know is that it is surely highly competitive.

What is HotBit’s Withdrawal Limit?

As mentioned, you must complete the KYC to withdraw funds from the HotBit account. And, you can withdraw as much as $10,000 worth of fiat currency in tokens, in the period of 24 hours.

One of the Best Cryptocurrency Exchanges in Terms of Security

Nothing makes sense if the exchange fails to offer strong security features to its users. Is HotBit safe? Certainly, HotBit understands the importance of platform security a lot better than many crypto exchanges out there. It is completely reliable and customer funds and user assets are always safe. And, the fact that it ensures the account safety by using 2FA verification, making HotBit safe as Fort Knox, says a lot.

Moreover, the exchange has not been compromised in its two years of existence on the crypto market. It is surely a fine milestone to see it that way, as it suggests that this is one of the safest cryptocurrency projects. Mostly, the HotBit exchange has been able to build its reputation by helping its customers feel at ease when stacking their funds with this trading platform. Thus, the many users of HotBit do not even consider abandoning this exchange.

An Approachable Customer Care

While the exchange offers 24/7 customer support, some claim that the help comes a bit late when compared to the other exchanges on the crypto market. If you would consider that, you may find yourself holding back. But that does not mean that customer support is unresponsive.

They do handle customers’ requests with whatever it takes. However, you may feel the support to be a bit lazy at times, if you listen to some of the negative reviews.

A Detailed HotBit Features Review

There’s a massive list of HotBit’s qualities. You should know that HotBit is a rather beginner friendly cryptocurrency trading exchange, especially when compared to some other exchanges. HotBit is easy to apprehend for experts who will rely on the more advanced features, as well as for beginners, after an initial period of getting used to its specificities. Therefore, even if you’re a beginner, don’t be afraid of giving HotBit a chance, as you’ll likely improve your understanding of crypto trading in no time with the assistance of HotBit’s approachable interface. 

In fact, the interface for HotBit trading is clean and consists of very well-prepared details. It is easy to deposit funds, acquire new digital assets, and withdraw money. And, determining trading fees and all other info is hassle-free. You have got charting features and insightful analysis to plan your next moves and decide the amount of new coins to purchase. Of course, you’ll need to make as much additional research as possible, as it’s never a good idea to invest unprepared. 

Other factors that are relevant for this HotBit exchange review include the option to make use of indicators and other tools to enhance your analysis as needed. Most of all, it will never cease to impress you with its intuitive yet simple design. Because of this, even when you’re not actually trading, checking out the charting interface and looking at other pieces of info will likely be a neat experience.

Some Other Important Characteristics

  • HotBit doesn’t support fiat currencies. New users will first have to find another exchange in order to purchase some crypto for trading.
  • HotBit token’s trading volume amounts to $279,424,067. For the purpose of comparison, Bitcoin’s trading volume is $27,627,143,617. So, while Hotbit’s volume is not among the highest out there, it isn’t bad.
  • While we would wish for support for iOS and Android devices, you can download the HotBit mobile trading app only on Google Play.

The Conclusion: Should You Try Trading on HotBit?

It is a reasonable conclusion that HotBit exchange is a very reliable platform. From an intuitive user interface and a handy mobile app, to its features, it has all the ingredients, making it perfectly balanced. With enough research and know-how, HotBit offers everything you’ll need for maximizing profits. You can also take the benefits of the platform’s native token, the HotBit token (HT). Using the Hotbit token for transactions would get you extra discounts pertaining to the trading fee.

And, it is secure too. With many advanced security measures, the platform also cares for the best interest of its users. Instead of encouraging crypto investors to stack their funds for earning rewards, HotBit believes in the distribution of a part of the interest earned. You must visit the official website to learn more about this. However, it is clever to offer users more ease of control of their own funds.

In short, the conclusion to our Hotbit exchange review is that HotBit is certainly a trustworthy option. And, it does make it to the list of the top three leading crypto exchanges.