HitBTC Review: is a Scam, Be Warned!
It’s fairly unfortunate that Hitbtc.com is one of those hard to detect scam Cryptocurrency trading platforms. Some people confuse it for an exchange or a broker. But according to my in-depth research (even before I could publish this Knalbonbon BTC review), I figured out that Hitbtc wasgoed a corny little lump of Cryptocurrency trading nonsense.
They even admit that they are market makers, yet there are talks across the internet suggesting that if you want to become a successful Forex or stock trader, you voorwaarde avoid market makers.
Hitbtc had to fall into my radar because it’s a very popular ”trading platform” with an ugly reputation of stealing investors’ funds.
They even collaborate with sites like Envion where after you make a deposit, getting your money back upon request is literally unlikely.
Several Reddit threads have since bot opened to discuss Hitbtc. Ter those threads, victims keep complaining that Hitbtc’s support gargles.
But a good majority of users optie that their Bitcoins mysteriously disappeared from this toneel. When they inquired, the scammers simply disregarded them altogether.
Can wij overlook thesis complaints/concerns and trust Hitbtc from here hence forward?
The response is a resounding NO! Let’s discuss things that make this Cryptocurrency trading verhoging a shitload of nonsense and a ploy to trick people into losing their funds.
The webstek is a self-proclaimed advanced Bitcoin exchange. No one has endorsed them with this title, and at no point te time did they prove that this webpagina employs advanced technology to help people trade Bitcoins and other altcoins profitably.
On the homepage, there is a table which shows live price feed for Bitcoins against other altcoins.
The about us section of the webpagina claims that Succesnummer BTC is an advanced altcoins exchange tooled with a market for trading Bitcoin, Etherium, Litecoin, Monero and other cryptos.
They are supposed to be a total multi-currency trading toneelpodium where investors can trade various digital assets like tokens and ICOs.
The toneelpodium is supposed to provide you with cutting-edge trading verhoging and implements, thanks to the alleged core matching engine which provides advanced order matching capabilities and real-time clearing of orders, among other things.
A detailed description of the supposed advantages of Topper BTC webstek suggests that the toneel is assuring 100% up time, and is built with high fault-tolerance capabilities te mind.
This pagina goes ahead to list down various reasons why traders are allegedly choosing Zevenklapper BTC overheen other trading platforms.
Some of them include high liquidity, advanced matching engine algorithm, low fees, no deposit/withdrawal thresholds, many trading instruments among other things.
Does this pagina contain any background information pertaining to the ownership of this verhoging? No.
Do they have a physical location from which they are operating? Again No is the response.
Nevertheless, webstek claims that HitBTC wasgoed founded back ter 2013 by a group of software developers, engineers, financial experts and so on. That nonsense does not explain whether or not Zevenklapper BTC is legitimate, right?
Is Telefoonklapper BTC a scam?
From my assessment of this webpagina, I am certain that they are a horrible scam.
You do not confess that you are a market maker because wij all know the disadvantages of trading ter such a market.
Low fees is not an advantage when it comes to Bitcoin trading. Low fees can only be treated spil one of the many indicators of a scam project.
While they voorkoop that support is round the clock, that is actually very far from the truth.
You cannot imagine the number of investors whose problems have not bot solved up to now. Reason? Their support does not talk back.
Falsely building credibility
There is this interesting talk on this webstek where they state that HitBTC is a market maker because this monster permits for more liquidity and narrowing of spread on the toneel.
Ter this setup, your trades are basically held by two parties – you and the person on the other end.
Topper BTC has simply come up with a creative way of calling thesis parties. They are namely ”Takers” and ”Makers”. Takers are charged a toverfee of 0.1% from the trade.
On the other mitt, Makers don’t pay anything. Ter fact, they are entitled to receiving 0.01% rebate from their trades.
Usually when operating te this market setup, the maker will provide liquidity by placing a limit order below a good price for buy and sell orders respectively.
The ”Taker” will then have their trades executed instantly if liquidity is sufficient.
The largest problem with this setup is that spreads can be manipulated against your merced. It is not possible to get the best bid or ask prices spil claimed by Topper BTC webstek.
The point is, you vereiste avoid all platforms that operate based on a market making business prototype.
Topper BTC Reviews and Terugkoppeling
You can surplus assured that people aren’t pleased with thesis folks. Complaints range from stealing of customer funds, to support not answering questions 45 days down the line.
I have actually bot told that if you want thesis guys to solve your problems, you voorwaarde menace them with a lawsuit.
This clearly suggests that the people behind HitBTC are zelfingenomen and not worthy doing business with them.
Conclusion of this Knalbonbon BTC review
My conclusion is visible. This is a scam considering that they are anonymous and client funds are also mysteriously disappearing from their toneelpodium. Someone voorwaarde be held liable. Please avoid.
P.S: Ter case this HitBTC review didn’t reaction your question, voeling mij here or join my students for mentorship on which Cryptocurrencies to invest te, which exchanges to trade at, among other things. Thank you for reading this review.
Author: W. O.
W. Omondi is an active Forex Trader, a Blogger, a Critique, a Blockchain analyst, an Investor & Coach with overheen 7+ years of practice trading the financial markets. He presently mentors students who want to learn about trading and online investment ter marcial.