HITBTC Review for Sports Betting
Cryptocurrency for Sports Betting
What is the HitBTC?
HitBTC is a cryptocurrency exchange that offers a wide variety of coins to their clients. They allow buyers to utilize USD, EUR, GBP to BTC and also a wide variety of digital cryptocurrency. They provide you with the ability to trade or exchange over 50 various coins in a safe and secure manner.HitBTC is one of the longest running exchanges in existence, having initially launched in 2013 in the United Kingdom. They are currently based in Estonia and were originally developed by Dave Merrill. They have been around for a long time as far as cryptocurrency exchanges are concerned but they still are not as widely known as the bigger exchanges like Coinbase, Bitstamp and Circle.
HitBTC has one of the finer customer service support staff available within the cryptocurrency industry. They offer three different options for contacting them including a forum, email and a ticket system. The forum is manned during business hours only and most people seem to use this as the best option. The email is self explanatory and the ticket system is the same as most other cryptocurrency websites where you simply fill out a form and they contact you with the resolution or answer to the question.
Getting Started with HitBTC
HitBTC is one of the easiest and quickest websites to get started on. To start up an account, you just need to provide an email address and make a password. If you want to actually be able to trade with fiat or normal currency, you will need to go through the verification process, which can be time consuming.
Once again, this only affects you if you intend to make a transaction using fiat. If you want a verified account, you will need to provide proof of identity, proof of residency and information regarding the bank account you will use to make transactions with with fiat. The entire process to get verified is not something that happens overnight. The process usually takes about 3-5 business days. Once you get all of the forms and documents you need, you need to forward that information to the compliance manager, who will then approve your account and set your limitations.
Benefits of the HitBTC
One of the key benefits of HitBTC is the fact that they are very user friendly and easy enough for beginners to use. The website is very clean and easy to use. I found that when I first navigated around the website, it appeared complicated but after a few minutes, I found it simple to use and easy to understand.
Another benefit of HitBTC is the fact that you can remain anonymous. This is important for many individuals that prefer their privacy and do not want to disclose their identity within the website. For some people this really isn’t important but for various purposes, it can be a nice feature to not be required to disclose your identity.
Additionally, one thing that I personally liked with HitBTC is the fact that they have over 50 cryptocurrencies available. Many of the cryptocurrency exchanges will only offer 15-20 coins but at HitBTC, they offer over 50 coins and are growing in volume each year.
Negatives of the HitBTC
Without a doubt, the biggest complaint that I have with HitBTC is their rates. For example, if you were to make a withdrawal using fiat, you would be charged a 2% fee, which is rather high. The key point is that they allow you to withdrawal fiat, which many other companies do not.
Another negative that is worth mentioning is the amount of time it takes to verify your initial account. This can be frustrating but keep in mind once you do it and get verified, this will no longer apply to you. Once you are verified, you no longer need to be concerned with the verification process.
One thing we wanted to point out that some consider a negative but truly does not affect me is the fact that they do not have a app to use on a mobile device. As with any exchange, I do all my cryptocurrency transactions on a computer so this does not affect me but some people do complain that they wish there was a mobile app so that they could use it on their mobile device.
Overall Conclusions of the HitBTC
HitBTC isn’t by any means the best exchange but they are not bad at all. They have their good points and for the most point, they are a decent cryptocurrency exchange. They are very secure and utilize a 2FA to increase the security of your cryptocurrency.
They do provide a demo interface, however when we wrote this review, the page was down and unable to be utilized. This is a nice feature that allows you to sort of practice and take a rough draft run through the process to see if you like the interface.
The one thing that seems to scare clients from utilizing the website is the fact that they appear to be trying to remain anonymous. They do not have a name listed for business information and the actual domain itself is private. Most legitimate companies will at least give company name in the domain registry, where HitBTC does not. They seem like a legit company however until they become more transparent and provide users with necessary information, their client base will remain small.Sign up for HitBTC here.