HitBTC is one of the most popular cryptocurrency exchange platforms in the world. It was founded in Denmark in 2013 and now operates under the supervision of Ullus Corporation. HitBTC basically is a platform where individual traders, merchants, or institutions meet and trade in digital currencies. The following is a brief of hitbtc Review.
HitBTC trading concept
HitBTC users can trade most of their digital currencies in the platform. This enables them to exchange their digital currencies for other
currencies such as Bitcoin, Dogecoin, Dash, Litecoin, Monero, and Ethereum.
They can also trade their digital currencies with renowned fiat currencies such as USD or EUR. HitBTC also provide deposits or withdrawal services for their users. This feature enables users to wire their money from all around the word despite their preferred exchange platform.
HitBTC has a simple trading concept. If traders want to exchange their cryptocurrencies in HitBTC, they only need to place a sell order in the platform.
The sell order contains the amount of money they want to exchange. For instance, if they want to exchange 3 Bitcoins for $1000, then they write the amount in the sell order.
Subsequently, the traders are also required to put the sell order on the order book. In the meantime, the money in the users’ trading account (in the example, the 3 bitcoins) will be locked until the process of exchange is completed or until the trader decides to cancel the exchange.
The exchange process may not take place instantly. There is time between placing of the sell order and the exchange filled. The traders may
be required to wait for other traders who are in need of the currencies at the said amount. When other traders agree to exchange in the sell order price, the HitBTC then compare the sell order and buy order of both parties until the exchange is completed.
The Advantages of Hitbtc over Other Cryptocurrency Exchange Platforms
As the foremost cryptocurrency exchange platform, HitBTC implements the most advanced technology while handling its services. HitBTC always makes sure that the technology behind its system is safe and secure.
The company implements advanced order algorithms technology that ensures stable sell or buy orders. Furthermore it also uses real-time clearing or T+0 Settlement systems. This system will always keep the platform up and available all the time. Hence, this makes it dependable and could service all traders from around the world.
HitBTC also has very stable API. API (Application Program Interface) is a code that enables two computer programs to communicate to each
other. A better HitBTC API means better communication line between the system of the company as well as its users.
Conclusion
In conclusion, HitBTC has all the benefits you could ever look for in a digital currencies exchange platform. With its advanced technology, traders can safely and securely exchange most types of cryptocurrencies in the platform.
