HitBtc is one of the worst & insecure exchange I've ever seen.
First Reason
What to do with low fees if they scam your fund?? There are huge negative review against HitBtc.One of the Worst &
insecure exchanges I've ever used.
Second Reason
In the matter of fees with altcoins, HitBtc charges too much fees than any others exchanges. I can Still remember, HitBtc charged 1000dent token(20$) for withdraw dent token where kucoin only charged 50dent token including binance.
Topic: HitBTC lowers its fees (Read 526 times)
HitBtc is one of the worst & insecure exchange I've ever seen.
First Reason
What to do with low fees if they scam your fund?? There are huge negative review against HitBtc.One of the Worst &
insecure exchanges I've ever used.
Second Reason
In the matter of fees with altcoins, HitBtc charges too much fees than any others exchanges. I can Still remember, HitBtc charged 1000dent token(20$) for withdraw dent token where kucoin only charged 50dent token
First Reason
What to do with low fees if they scam your fund?? There are huge negative review against HitBtc.One of the Worst &
insecure exchanges I've ever used.
Second Reason
In the matter of fees with altcoins, HitBtc charges too much fees than any others exchanges. I can Still remember, HitBtc charged 1000dent token(20$) for withdraw dent token where kucoin only charged 50dent token
They send transactions in a batch so definitely there's not much that they pay and I have seen them paying BTC0.00007 for transactions while taking BTC0.002 from each member who withdrew which is garbage in my eyes.
If you follow your coins after each deposit, you'll notice that the exchange starts to move these coins from address to address. It almost looks like they're mixing the inputs. Each one of these transactions requires a fee, and the steep withdrawal fees that people pay are meant to cover these fees. In other words, you're paying the exchange for something it shouldn't charge you for.
People should stop using this exchange. Usding them equals rewarding them for their misbehavior.
I noticed it sometimes that they are mixing the coins to save themselves from something? Maybe an exit scam some time later was planned but they didn't go because of those foolish people who are still using their expensive exchange and paying them the still-very-high fees even after a cut. They are just being used because of the type of denomination they give in each pair listed there as well as the fake volume that gives them the opportunity to show a lollipop to people with some small gains and then crashes. I don't know how they are still working under the hood as a centralized exchange with such fake volumes that is not even licensed.
They send transactions in a batch so definitely there's not much that they pay and I have seen them paying BTC0.00007 for transactions while taking BTC0.002 from each member who withdrew which is garbage in my eyes.
If you follow your coins after each deposit, you'll notice that the exchange starts to move these coins from address to address. It almost looks like they're mixing the inputs. Each one of these transactions requires a fee, and the steep withdrawal fees that people pay are meant to cover these fees. In other words, you're paying the exchange for something it shouldn't charge you for.
People should stop using this exchange. Usding them equals rewarding them for their misbehavior.
They send transactions in a batch so definitely there's not much that they pay and I have seen them paying BTC0.00007 for transactions while taking BTC0.002 from each member who withdrew which is garbage in my eyes.
Do they batch transactions using legacy or SegWit format addresses? From the 7k satoshi fee you're stating it looks like SegWit to me, but it could also have been a batched legacy transaction sent without much network congestion.If they use SegWit then it's absolutely ridiculous that they dare to ask so much in withdrawal fees. It's probably done so that people no longer withdraw their funds but keep it in their account and potentially trade more.
I have always believed that this exchange is largely insolvent. They have waves where people easily withdraw and waves where there are a lot of complaints popping up regarding withdrawals that aren't being processed.
The transactions I saw were not SegWit, but like baofeng told you they started using SegWit in late 2017 and continued using the same fee format they had been using since, but no matter what even if they ask it for legacy it is still unjustifiable on their end to give a reason why they had been stealing our funds through high fees even when, during current days, transactions are being confirmed at a fee of just 1 or 2 Sats/byte.
...
I had 0.005 BTC lying there and thought of not withdrawing as it would take 0.0015 BTC as fee but when exchanges started getting hacked, I preferred paying the fee. Most of my coins there have been delisted or have no trading volume and they ask me to pay 300-400 tokens as fee which is way more than the tokens I hold there. I prefer Tidex as they still have a reasonable fee and even Kucoin.
They pay few sats per transaction which is why I had to use an accelerator to get it confirmed after 5 hours. After paying fee, they don't even use 10% of it.
That's the point I was trying to convey that these ridiculously high fees will get them their customers fly away from them to different options available. Even Binance doesn't ask for this high fees while comparatively giving much better services than hitbtc.
Their withdrawal fee is why I don't use them these days. I remember when I invested in TRX (Tron) back in 2017 when it grew to 2000 satoshis making me a profit of BTC0.06 on my BTC0.01 investment. I was fine to pay them the fee considering their fake volume helped me gain something but this doesn't help in the long time anyway. They have felt the heat of other exchanges with comparatively low fees on both trading as well as withdrawal, but are still taking very high fees for which many will pass it. They send transactions in a batch so definitely there's not much that they pay and I have seen them paying BTC0.00007 for transactions while taking BTC0.002 from each member who withdrew which is garbage in my eyes.
I had 0.005 BTC lying there and thought of not withdrawing as it would take 0.0015 BTC as fee but when exchanges started getting hacked, I preferred paying the fee. Most of my coins there have been delisted or have no trading volume and they ask me to pay 300-400 tokens as fee which is way more than the tokens I hold there. I prefer Tidex as they still have a reasonable fee and even Kucoin.
They pay few sats per transaction which is why I had to use an accelerator to get it confirmed after 5 hours. After paying fee, they don't even use 10% of it.
Scam exchange.
Too many scam reports on reddit. They mostly do selective scamming. Stay away.
I do not know if it is a real scam, but my ICON and IOTA coins are being held on this exchange because they don´t have working withdrawals for about 2-3 months. Too many scam reports on reddit. They mostly do selective scamming. Stay away.
That's exactly how they scam people.
I don't know anything about ICON but I am pretty sure the IOTA network works just fine. Then there isn't a valid excuse for disabling IOTA withdrawals.
Most people say HitBTC is insolvent. Might be a insider thief, might be they got hacked, might be they just want to do selective scams.
One thing is for sure, something is seriously fucked up with this exchange.
They are clearly faking trading history .. faking volume and most importantly yeah it seems they do selective scams just like what you said above and many people claimed about this. I'm out from hitbtc.
And one more thing , i found their customer service unprofessional even tend to 'childish' .
Only trading fee not all fees. They still have ridiculous withdrawal fee for bitcoins and altcoins. Some of the altcoins have a fee more than the amount of altcoins I hold and same for BTC where they have 0.0015 withdrawal fee. Will never use this exchange unless the coin is not listed on any other exchange except hitbtc.
I got into HitBTC exactly because of coins that are either listed on very poor exchanges or not listed at all save HitBTC. Another annoying fact about my experience in HitBTC is that I already accumulated fractions of coins I used to trade there. They cannot be traded anymore and so they end up stuck in there forever. Binance is great with their option to convert these tiny fractions into BNB. I hope HitBTC will also address this somehow.
Lowering trading fees may not be enough but it is pretty much a good start. Lowering withdrawal fees might follow soon. They might be using this strategy to keep the coins from coming out of their exchange. But this will certainly cost them more rather than gaining something from it. In effect, they are actually discouraging traders to use their platform.
They send transactions in a batch so definitely there's not much that they pay and I have seen them paying BTC0.00007 for transactions while taking BTC0.002 from each member who withdrew which is garbage in my eyes.
Do they batch transactions using legacy or SegWit format addresses? From the 7k satoshi fee you're stating it looks like SegWit to me, but it could also have been a batched legacy transaction sent without much network congestion.If they use SegWit then it's absolutely ridiculous that they dare to ask so much in withdrawal fees. It's probably done so that people no longer withdraw their funds but keep it in their account and potentially trade more.
I have always believed that this exchange is largely insolvent. They have waves where people easily withdraw and waves where there are a lot of complaints popping up regarding withdrawals that aren't being processed.
Only trading fee not all fees. They still have ridiculous withdrawal fee for bitcoins and altcoins. Some of the altcoins have a fee more than the amount of altcoins I hold and same for BTC where they have 0.0015 withdrawal fee. Will never use this exchange unless the coin is not listed on any other exchange except hitbtc.
Their withdrawal fee is why I don't use them these days. I remember when I invested in TRX (Tron) back in 2017 when it grew to 2000 satoshis making me a profit of BTC0.06 on my BTC0.01 investment. I was fine to pay them the fee considering their fake volume helped me gain something but this doesn't help in the long time anyway. They have felt the heat of other exchanges with comparatively low fees on both trading as well as withdrawal, but are still taking very high fees for which many will pass it. They send transactions in a batch so definitely there's not much that they pay and I have seen them paying BTC0.00007 for transactions while taking BTC0.002 from each member who withdrew which is garbage in my eyes.
Only trading fee not all fees. They still have ridiculous withdrawal fee for bitcoins and altcoins. Some of the altcoins have a fee more than the amount of altcoins I hold and same for BTC where they have 0.0015 withdrawal fee. Will never use this exchange unless the coin is not listed on any other exchange except hitbtc.
I don't have a problem with them but I don't trade in their site for a long time ago. I remember that I still have some altcoin and token in that exchange but I forgot what it is. If they really lowering the fee, then I think that it's good for traders who actively trading in their site because they can get more profit. But for me, I don't think too much about the fee because if I can get the profit, it is enough for me.
Scam exchange.
Too many scam reports on reddit. They mostly do selective scamming. Stay away.
I do not know if it is a real scam, but my ICON and IOTA coins are being held on this exchange because they don´t have working withdrawals for about 2-3 months. Too many scam reports on reddit. They mostly do selective scamming. Stay away.
That's exactly how they scam people.
I don't know anything about ICON but I am pretty sure the IOTA network works just fine. Then there isn't a valid excuse for disabling IOTA withdrawals.
Most people say HitBTC is insolvent. Might be a insider thief, might be they got hacked, might be they just want to do selective scams.
One thing is for sure, something is seriously fucked up with this exchange.
Separating small fees is actually a good marketing for them it may sounds like they are having the lowest fees and looking it like it seems that they have the lowest trading fee, might at least somehow people will still consider coming into their platform despite of having a bad reviews because of the scam accusations. They are not honest and reliable at all you can see more of the sentiments from this thread.
https://www.reddit.com/r/hitbtc/comments/ajeloh/anyone_else_never_have_a_problem_with_hitbtc/
I would rather stay on the .10 trading fee, a .03 difference isn't that big at all.
Actually ICOs can be a very good tool for a fake business. Fake business can easily run a fake coin.
https://www.reddit.com/r/hitbtc/comments/ajeloh/anyone_else_never_have_a_problem_with_hitbtc/
I would rather stay on the .10 trading fee, a .03 difference isn't that big at all.
I've sold a small amount Viberate tokens and some ETH on HitBTC 3 years ago.Had no problem at all,but I'm pretty sure that if I tried to sell big amounts,they would probably scam me.
HitBTC was helpful for me in the past,just because there were some ICO tokens listed there,that weren't listed on any other marketplace.However,ICO tokens are a reg flag too.If it's easy to list some shitty ICO token on a crypto exchange,that exchange most likely isn't that legit.
I don't care about trading fees that much.
HitBTC was helpful for me in the past,just because there were some ICO tokens listed there,that weren't listed on any other marketplace.However,ICO tokens are a reg flag too.If it's easy to list some shitty ICO token on a crypto exchange,that exchange most likely isn't that legit.
I don't care about trading fees that much.
Actually ICOs can be a very good tool for a fake business. Fake business can easily run a fake coin.
I've sold a small amount Viberate tokens and some ETH on HitBTC 3 years ago.Had no problem at all,but I'm pretty sure that if I tried to sell big amounts,they would probably scam me.
HitBTC was helpful for me in the past,just because there were some ICO tokens listed there,that weren't listed on any other marketplace.However,ICO tokens are a reg flag too.If it's easy to list some shitty ICO token on a crypto exchange,that exchange most likely isn't that legit.
I don't care about trading fees that much.
HitBTC was helpful for me in the past,just because there were some ICO tokens listed there,that weren't listed on any other marketplace.However,ICO tokens are a reg flag too.If it's easy to list some shitty ICO token on a crypto exchange,that exchange most likely isn't that legit.
I don't care about trading fees that much.
If this is real, then they must have felt the competition getting serious. HitBTC has one of the highest fees in the market. And it is perhaps one of the topmost reasons why a lot of traders are avoiding their exchange. On top of various other complaints, of course. And so addressing the high fees is just one step on the ladder. They will have to address a few more such as frozen accounts.
They must have realized that the crypto market is not the same as before. Right now, traders have already more than enough options. The influx of new exchanges could be a serious threat to HitBTC. I hope this will further improve the services offered by HitBTC.
They must have realized that the crypto market is not the same as before. Right now, traders have already more than enough options. The influx of new exchanges could be a serious threat to HitBTC. I hope this will further improve the services offered by HitBTC.
I stopped using hitbtc a long time ago when they started charging unreasonable fees.
Now that they no longer have the same popularity (and number of users) as before, they've finally come to their senses and reduce their fees. They should have done that a long time ago.
Now that they no longer have the same popularity (and number of users) as before, they've finally come to their senses and reduce their fees. They should have done that a long time ago.
It's too late though, I guess they have to do something because other exchanges have been on the rise and they are sill lagging behind. So they have to do something and offer lower fees but I doubt that it will bring more traders on their platform though. Was I previous customers, support is not that good plus the trading fees are so high. So this is just a marketing stunt, but not sure if it could sway new customers, they have been exposed specially in 2017 and newbie investors are going to exchanges like Binance or Coinbase.
I cant believe it could take them this long to reduce the high transfer fee when almost everyone had fled, however, their seem not to be decline in the trade volume. They will still need to control the wash trade on the exchange, it could be annoying to set order at the market price and never get it filled in days.
I took a break from this exchange owing to a bitter experience. Nevertheless, with them reducing fees shows that the competition among exchanges is getting tough and only the strong will win. Also, I don't think reducing fees is enough they will have to do better than that.
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