Hotbit exchange, is it safe and good to trade here? - page 9.

Sayeds56

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Quote from: nicepotato10431 on October 24, 2021, 11:46:54 PM

So I realized that, recently, there are so many tokens getting listed on Hotbit.

Tried trading few times,

And I guess this exchange is a lot better than Bitforex or Digifinex (I mean these two WERE good.. but not anymore.. I think)

At least all my tokens are not gone in the wind and assets look safe.

But are the tokens on this exchange trustworthy? I don't wanna trade on SCAM exchanges.

Any experience with Hotbit, anyone?

I have been using this exchange since more than 3 years and I mostly use its trading platform to deposit and sell my tokens which I receive from Airdrops and Bounty campaigns and they are most of the quickly get listed on Hotbit. The transaction and withdrawal fees are comparatively highly and I didn't find their platform attractive for trading when you compare it with Binance and Kukoin because their volumes are very low.

TopTort777

legendary

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While discussing about how good or bad Hotbix exchange is, always remember that half a year ago it was hacked. Nearly 2 million users data leaked and the webpage was under maintenance for two weeks. They claim that not a single user suffered money loss. But users funds were frozen for two weeks. And compare it to other exchange hacks. Some got hacked and dont recover, some got hacked, but continue work if not the next day, then in a couple of days.

Japinat

hero member

Activity: 2912

Merit: 674

Read more about Hotbit in this thread. Hotbit exchange is legit. that was created in year 2019.

I have not used this exchange anymore but based on my last experience, the exchange is good, they process withdrawals instantly and they also have a good trading volume though not as good as the top exchanges.

Snappycoco

member

Activity: 534

Merit: 19

I have been using it since 2020 and I've never encountered any red flags so far. As far as I know this exchange is quite good and has lots of volume too. Good exchange for new coins emerging the market. The one thing I observe but not in connection with scam flags is their listings of shitcoins. Most of them are useless that rallies hotbit this year. Nonetheless, 4star exchange for me.

iv4n

legendary

Activity: 3122

Merit: 1171

Quote from: ?? on ??

I use Hotbit exchange a lot and have never encountered any issues, you don't have to worry. However there is one thing I don't like about this exchange, they have a lot of shitcoin listings.

Ignore their Shitcoin list and use the exchange only as necessary as it is also not against their policy and those who accept Shitcoins to be placed on their list also have their own reasons for this, so you don't need to think about it as long as its use is never problematic.

Hotbit shitcoin list is amazing! I used it before, while I had fun with some ICO's and alt investments, Hotbit is the exchange with early listings, so it was good for that purpose, to get out earlier! As I remember they had pretty high fees for BTC and ETH withdraws, it's why I didn't spend a lot of time there... I don't know the situation now, but probably they still have the highest withdraw fees around!

JeWay

hero member

Activity: 952

Merit: 503

Quote from: FairUser on October 26, 2021, 09:09:51 PM

It is ok but not perfect for exchange, I have been trading with it since 2018 and have not had any problems in use.
And apparently hotbit also doesn't need KYC, but the problem is trading bots and lots of shitcoins

, the liquidity of many coins is not there.
Always research to be sure you are going to deposit money into it and also keep an eye on the amount that you can withdraw.

Hotbit's use case doesn't have a problem, but the exchange is still so lacking in features that it's still lagging behind the others, and I only use Hotbit to exchange my coins if they're not on another exchange and are just there

FairUser

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It is ok but not perfect for exchange, I have been trading with it since 2018 and have not had any problems in use.
And apparently hotbit also doesn't need KYC, but the problem is trading bots and lots of shitcoins

, the liquidity of many coins is not there.
Always research to be sure you are going to deposit money into it and also keep an eye on the amount that you can withdraw.

tbct_mt2

hero member

Activity: 2254

Merit: 831

Quote from: AmoreJaz on October 26, 2021, 06:42:39 PM

also, the exchange is not responsible for each coin or token that will be listed on them. they won't know if the team will rug pull or not.

They do their research before they list new coins or tokens and the top exchanges will be more careful with their investigation. However, we as investors or traders can not rely on them. Exchanges have risk with hack and their investigations can be inaccurate. Nothing is perfect with anybody or any exchange.

Quote

as a trader, you should be the one checking up on the coin, not the exchange.

Not only checking up process but also don't store your coins on exchanges for longer than what you need.
https://notyourkeys.org/

Quote

this should be done for all exchange anyway. so once you finished your trading, get your funds out.

Exactly. Smart money flows like that, they only deposit to exchanges when they need to take profit. If they buy coins but price is not good to take profit, they move their coins out. We see it with exchange inflow and outflow and big outflow consistently is one of good indicator of something good in eyes of investors.

AmoreJaz

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Quote from: dbc23 on October 26, 2021, 06:37:58 PM

Quote from: Cryptoababe on October 25, 2021, 02:48:18 AM

Ive Been using Hotbit for more than 2 years now. Hotbit was once hacked and now they recover. So, i can say Hotbit is safer to trade on now, Because the team will have learnt from thier mistakes and will have tried to make the exchange more safe from hackers.

Hotbit isn't the only exchange that has ever been hacked. But since the could bounce back and @ op haven used the exchange for quite some time and has some level of satisfaction using the exchange shouldn't have any cause for alarm. The tokens listed might not be in the place of the exchange to decide if it's a scam or not. For all new tokens it's wise to set a profit target pull out as soon as possible while you sit back for a while to watch it's next moves

also, the exchange is not responsible for each coin or token that will be listed on them. they won't know if the team will rug pull or not. as a trader, you should be the one checking up on the coin, not the exchange.
i had used hotbit before but that was a long time ago. no prob encountered. but of course, you should not store your funds in exchange, whether top or not.
this should be done for all exchange anyway. so once you finished your trading, get your funds out.

dbc23

sr. member

Activity: 1036

Merit: 311

Quote from: Cryptoababe on October 25, 2021, 02:48:18 AM

Ive Been using Hotbit for more than 2 years now. Hotbit was once hacked and now they recover. So, i can say Hotbit is safer to trade on now, Because the team will have learnt from thier mistakes and will have tried to make the exchange more safe from hackers.

Hotbit isn't the only exchange that has ever been hacked. But since the could bounce back and @ op haven used the exchange for quite some time and has some level of satisfaction using the exchange shouldn't have any cause for alarm. The tokens listed might not be in the place of the exchange to decide if it's a scam or not. For all new tokens it's wise to set a profit target pull out as soon as possible while you sit back for a while to watch it's next moves

bitcoinsc

jr. member

Activity: 439

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I have 6 digits in hotbit right now. Doing defi farming yields. And eth n btc interest per day. It is risky af but interest is good also. Lots of money! Earning 15$ a day doing nothing! Just gotta trade if alt coins decide to crash lmao.

zonefloor

hero member

Activity: 1862

Merit: 524

The hotbit was hacked several times and then continued on its way. Nice volume available on the listed cryptocurrencies. They continue on their way by improving their platforms day by day. Mobile apps also work nicely. The only problem with mobile applications is that they constantly update their applications. This gets annoying after a while. Another problem is that there are many bots and these bots can cause scams. But apart from these, it is a reliable exchange platform.

Anonymous100

member

Activity: 423

Merit: 11

Quote from: nicepotato10431 on October 24, 2021, 11:46:54 PM

So I realized that, recently, there are so many tokens getting listed on Hotbit.

Tried trading few times,

And I guess this exchange is a lot better than Bitforex or Digifinex (I mean these two WERE good.. but not anymore.. I think)

At least all my tokens are not gone in the wind and assets look safe.

But are the tokens on this exchange trustworthy? I don't wanna trade on SCAM exchanges.

Any experience with Hotbit, anyone?

Based on my experience trading on the Hotbit exchange, I have never lost an asset. In fact, I always get a bonus every time they launch new coins according to the specified requirements. I think it's a safe and reliable exchange. Maybe if they experience problems, they immediately activate maintenance mode, so that the platform cannot be accessed by anyone.

kopijos

member

Activity: 523

Merit: 11

Hotbit has become one of the largest exchanges in the world. a lot of big tokens are listed on hotbit and have a good trading volume, I experienced trading on hotbit and I saw that hotbit is very good and worth using for long term or short term trading. besides that hotbit also has many advantages over the exchanges mentioned above

BAGOBO

legendary

Activity: 1163

Merit: 1005

Quote from: ?? on ??

Certainly. you cannot store any currencies here. Only fast purchase / sale and withdrawal of money. No more. Rating is such a thing, bots can catch up with volumes very quickly.

Bots will also not always work to catch up on volume on a daily basis, because the original volume is the result of a lot of demand and supply because that is what makes a coin often increase and stay in a good position.

To identify trading bots, access one of the coin trades to compare supply and demand with daily trading volume, if the trading volume is too high but the demand and buying is too low, it is certain that the trading bot plays a role in increasing daily volume, another alternative is to see the recent trading history.

Buntel168

full member

Activity: 854

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for me, choosing market exchanger just for sell my coin to make some profit and never to put a long time to hold my coin at there.

mdgabrielzim

full member

Activity: 1232

Merit: 143

I have an account on it and have never had any problems. Also, the times I needed help, they responded via email very quickly. About tokens, you have to create some filter because many that enter there are scams.

ivankoh

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I have never traded on hotbit, and most people here recommend against going there and they probably have many reasons or bad experiences with hotbit. Most of my actions are done on Dex… except for p2p commands which are done on binance. I love defi platforms more. It was there that I really felt freedom.

Dex is getting better and EVM or cross-chain bridges are also convenient. I believe it will really be the future of exchange

Dr.Osh

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I have traded there several times, and so far it is quite safe. in fact, I just traded a few weeks ago, and maybe in the next few days, I might be trading there again. So far, I have never held my tokens or coins long term there. however, as far as I use it, it works pretty well.
once again, I never store tokens/coins there. although I say it's safe, but there are cases that there are people who have problems trading there.

BAGOBO

legendary

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Quote from: ?? on ??

I don’t recommended to Trust this exchange ranking or something like that. I know ranking isn’t everything an any exchange to trust because mostly exchanges manipulating their trading volume by using bot and a several poor quality exchanges ranks in top 50 in CMC that doesn’t menas those are trusted exchanges.

You will have to manually check to detect trading volume without using bots as exchange rankings are just a regular list sorted by overall daily trading volume calculation. I don't hold any long term coins on Hotbit because the reputation is not convincing in my opinion.

Topic: Hotbit exchange, is it safe and good to trade here? - page 9. (Read 1325 times)