The Intermediate Guide to Hotbit Exchange Review

Hotbit Exchange is one of the most popular cryptocurrency trading platforms and claims to have much to offer. To clarify what this exchange offers us, we usually review the design and features that are important to traders and investors. Read on to learn more about this new veneration crypto exchange.

Is Hotbit Safe? Do you really need to use it in 2022? We cover all these questions in this review.

Exchange exists as a web-based platform that is available from any device at any time. Moreover, there are local client and mobile versions. The website is available in six languages ​​including English, Russian, Chinese, Korean, Thai and Turkish. Hotbit exchanges are available in many countries, including the US. There is no data to confirm that Hotbit is not available in some countries.

 

User interface and experience

Hotbit has an attractive user interface but not so easy to navigate, mainly because of the many features it has. On the exchange page, users can easily view listed assets, charts and trading history. But with the long list of supported assets on the Markets page and their available business pairs, users can choose to start a business. This is not the best UI but better than any business or users want to do.

 

Review of Hotbit Features

As mentioned above, Hotbit supports many cryptocurrencies (though there is an extensive selection of coins). Some of them are already supported by Hotbit before listing on Binance, Huobi, and other top exchanges. One of Hotbit's special features is the distribution of current daily deposit interests among users. This feature does not require any freeze of user assets, which is quite convenient. Interests are distributed in Bitcoin, Ethereum, ATOM, DASH, and many other currencies.

 

How to Use Hotbit Exchange

Open an account

To use Hotbit, new users must register and create an account. The process is very simple; With your email or phone number, you can easily register by creating a password. The verification code is sent to your email or phone, and after authentication, you can access the full forum.

How to make a deposit

Hotbit Exchange is very conscious of security. You need to enable two-factor authentication by installing Google Authenticator and using the code to be able to deposit. The process is a security measure to ensure that any unauthorized person cannot deposit or withdraw from your account.

The same process is required to withdraw from the exchange. Also, note that you can only withdraw after 24 hours of deposit on the platform if you are a new user signed up.

 

Hotbit fee review

Depositing on Hotbit is not the same as other centralized cryptocurrency exchanges. Withdrawal fees vary from coin to coin and depend on network fees and other factors. Business fees are the same for manufacturers and takers. Therefore, it does not matter if the trader issues orders that increase liquidity or removes the liquidity from the order book, she / he will be charged 0.1%. Such fees are quite low compared to the trade fees we have at other exchanges. However, the fact that manufacturers and takers pay the same fees does not encourage people to "do" liquidity. Some other exchanges have a discount system that offers discounts on fees or rewards for limit orders. Hotbit offers a different way to reduce trading fees - this can be done by using HTB coins (Hotbit Local Token) to pay the fee. When this feature is enabled, merchants pay only 0.05% as a trading fee.

 

Hotbit review: Security

As mentioned above, security is one of the most important aspects of the hotbit platform. It has an internal security audit team that provides 24-hour real-time online audit services. According to Hotbit, they have established strategic partnerships with the two most influential audit teams. These two teams include Slomist and Bioscine. They are constantly testing and observing to detect any threats that may cause problems and resolve them as quickly as possible.

It offers several ways to protect the user's account and their data, to protect them. Below are the features that users can enable from the security settings:

Email Verification: Under this feature of Hotbit Email Verification, you can activate it whenever you withdraw money. You will be sent an email to confirm your return.

SMS verification: users can enable SMS verification for new login, retrievals, API management and password modification.

 

Hotbit Review: Pros and Cons

Pros

• This trade stage is accessible in 170 nations with 1.5 million clients.

• There are north of 150 crypto matches accessible for you to exchange.

• It additionally upholds numerous dialects.

• KYC isn't needed for any movement, for example, sign-in, withdrawal or store.

• Hotbit Exchange application is likewise accessible for clients to exchange online whenever.

Cons

• It doesn't uphold US clients.

• Edge exchanging isn't accessible.