It seems that this crypto exchange forces its traders to make a bid/ask orders which are divisible by 1000. I do not think this is a big disadvantage, because the chart with such prices trailed by three zeroes look pretty nice.
Although if these thresholds of prices will be quite huge, traders will not be able to sell a small amount of their coins/tokens.
Topic: UNIQUE TREDING IN HITBTC (Read 163 times)
HitBTC is one of the my favorites exchange and i use it about 3 years, indeed they have that trading term but they offer lower trading fee than others exchange just 0.1% pertrade with 0.01 % rebate. HitBTC should be increasing the quality and and the customer support so they will possible to be number 1 exchange.
This should move to either exchange section of service discussion.
I have seen this on their exchange site and its not for that particular coin of yours. Its applicable to all of their coins depending on their value. Some are in the minimum of 10s, 100s or 1000s. Though its not the best practice because of the satohis in decimal which would like be worthless since it can not longer be used to buy any low value coin as it won't meet the minimum threshold.
I think the reason for that is because they are looking at the minimum for them to charge a decent fee. For bigger exchange like poloniex (if I am not mistaken) allows up to the fifth decimal. The option you can consider is try buying 1200 at once and if that didn't work, consider another exchange and withdraw to trade there.
I have seen this on their exchange site and its not for that particular coin of yours. Its applicable to all of their coins depending on their value. Some are in the minimum of 10s, 100s or 1000s. Though its not the best practice because of the satohis in decimal which would like be worthless since it can not longer be used to buy any low value coin as it won't meet the minimum threshold.
I think the reason for that is because they are looking at the minimum for them to charge a decent fee. For bigger exchange like poloniex (if I am not mistaken) allows up to the fifth decimal. The option you can consider is try buying 1200 at once and if that didn't work, consider another exchange and withdraw to trade there.
HitBTC has a lot of problems, Mainly Volume. Ive been trading there for sometime now and it not uncommon that one or 2 people can crash a whole market. Also there are more pump and dump groups on HitBTC than any other exchange. This can totally screw you but at the same time its a good reason to ALWAYS set a sell order. You never know whats going to happen with crypto.
I found the uniqueness in HitBTC market, I want to sell my MXM token must sell with nominal 1000 MXM and must be a multiple of 1,000.
Example:
Buy or Sell = 1000/2000/3000 MXM
https://hitbtc.com/exchange/MXM-to-BTC
Is this a disadvantage to trade?
That we can not sell or buy tokens at par 1,200 1300 and so on.
Example:
We have a token 800 MXM while to sell must be 1000 MXM, we must automatically buy 1000. Means we have 1800 MXM token. Still, we can only sell 1000 MXM
What is your opinion ?
Example:
Buy or Sell = 1000/2000/3000 MXM
https://hitbtc.com/exchange/MXM-to-BTC
Is this a disadvantage to trade?
That we can not sell or buy tokens at par 1,200 1300 and so on.
Example:
We have a token 800 MXM while to sell must be 1000 MXM, we must automatically buy 1000. Means we have 1800 MXM token. Still, we can only sell 1000 MXM
What is your opinion ?
That's standard transaction quantity, every exchange have that rules as limit. In trading world is like stop loss or top up/ bottom, meaning line you should follow to keep exchange performance running in the right track. This rules is easy to follow and if you don't like it just find another one. Don't take too hard, for more information please contact their support team.
Yes this disadvantages to trade crypto, HITBTC not like others exchanges, i dont why they make that thing, This thing make many trader loss small amount of money. Small amount of many times will be bigger amount. So they should change that to increase profit of trader.
In my opinion HitBTC should be change this rules because many trader will loss some profit. I have many different small amount of coin in this exchange but i can not sell it. I used many different exchange but only HitBTC has this trading term.
I found the uniqueness in HitBTC market, I want to sell my MXM token must sell with nominal 1000 MXM and must be a multiple of 1,000.
Example:
Buy or Sell = 1000/2000/3000 MXM
https://hitbtc.com/exchange/MXM-to-BTC
Is this a disadvantage to trade?
That we can not sell or buy tokens at par 1,200 1300 and so on.
Example:
We have a token 800 MXM while to sell must be 1000 MXM, we must automatically buy 1000. Means we have 1800 MXM token. Still, we can only sell 1000 MXM
What is your opinion ?
Example:
Buy or Sell = 1000/2000/3000 MXM
https://hitbtc.com/exchange/MXM-to-BTC
Is this a disadvantage to trade?
That we can not sell or buy tokens at par 1,200 1300 and so on.
Example:
We have a token 800 MXM while to sell must be 1000 MXM, we must automatically buy 1000. Means we have 1800 MXM token. Still, we can only sell 1000 MXM
What is your opinion ?
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