This article will explain how to set up an account with cryptocurrency exchange HitBTC, how to buy coins through the exchange and how to manage your account.
More details are provided below, but HitBTC does not require personal identification documents to register.
The only thing required by the exchange is a valid email address, which means that the registration process can be completed in about five minutes.
As depositing funds into your account and trading on the exchange is also quite simple, HitBTC allows users to invest in cryptocurrencies with ease.
This article also includes a Frequently Asked Questions (FAQ) section, which you can refer to if you have any questions.
PBTT is Trading on HitBTC, but What Exactly is HitBTC?
Before going into details of how to set up an account with HitBTC, first — for those of you who may not be familiar with the exchange — a brief explanation of HitBTC.
HitBTC at a Glance
Company: HIT Solution Inc.
Languages: English, Chinese, Korean, Japanese
Date of establishment: September 2013
Official website: https://hitbtc.com/
HitBTC Data Point 1: Trading Volume Ranks Ninth Globally
HitBITC was created in 2013 and is one of the relatively older cryptocurrency exchanges.
The exchange is widely used by investors around the world, ranking ninth among global exchanges in terms of trading volume.
HitBTC Data Point 2: More than 800 Coins Listed
HitBTC lets you deal in a large number of cryptocurrencies.
Many new coins list on HitBTC after their Initial Coin Offering (ICO) — meaning that the exchange is host to many currencies with upward potential.
Currently, you can trade in more than 800 different cryptocurrencies on HitBTC.
HitBTC Data Point 3: No Need for Personal Identification Documents
As mentioned earlier, HitBTC allows you to create an account without submitting personal identification documents.
As registration can be completed without waiting for clearance, you can create an account and start trading from the moment you feel the urge to buy a cryptocurrency.
How to set up an account with Cryptocurrency Exchange HitBTC
If you have not set up your account on HitBTC yet, please refer to the link below and set up the account before purchasing PBTT.
Purchasing Cryptocurrencies on HitBTC Flowchart
How to Buy Cryptocurrencies on HitBTC
HitBTC differentiates between your main account and your trading account.
Thus, it is necessary to transfer your funds between accounts after you make a deposit.
This is a step that is not required by other cryptocurrency exchanges, but it is a very straightforward process that is easy to understand.
While it will depend on how long it will take to deposit your cryptocurrencies, the transfer process itself should take no more than three minutes to complete.
How to Buy Cryptocurrencies — Step 1: Transfering Bitcoins from your Local Exchange to HitBTC
Open your Account from the HitBTC site.
You should see a list of cryptocurrencies, with BTC Bitcoin at the top. Click on the +〇 icon in the Deposits column next to Bitcoin.
You will see a QR Code and wallet address to use to credit your account with Bitcoin. Write down the address.
Please take care not to make a mistake when writing down the wallet address — an error may result in a loss of your cryptocurrencies.
Once you have copied down the address correctly, send Bitcoins from your existing account to your HitBTC wallet.
Please note that there is a deposit fee of 0.0006BTC.
How to Buy Cryptocurrencies — Step 2: Transfer your Bitcoins from your Main Account to Your Trading Account
Open your HitBTC account page.
Click on the right arrow next to Transfer in the Bitcoin row.
You will see a box to enter the amount of Bitcoins you would like to transfer.
Enter the amount and hit Transfer.
Your Bitcoins should now appear on the right Trading account column.
How to Buy Cryptocurrencies — Step 3: Select the Cryptocurrencies You Want to Purchase
You are now able to use the Bitcoins in your trading account to purchase other cryptocurrencies.
Open the Exchange page and go to the Instruments window.
You can choose which cryptocurrency to use to buy another cryptocurrency.
This is an example of using Bitcoins to buy PBTT.
How to Buy Cryptocurrencies — Step 4: Enter the Amount, Price Using Market or Limit Orders
Once you’ve decided on a cryptocurrency to buy, all you need to do is decide on how much you want to buy at what price, using what method.
There are two ways to place an order — Market or Limit.
With a market order, the cryptocurrency is traded at the current market price, so the trade will go through immediately, based on the price at the time the order is placed.
This method sometimes also called a Taker order.
The fee for this type of transaction is 0.1% of the amount traded.
To place a Market order, select the Market tab, enter the amount you would like to buy and click on either the Buy Market or Sell Market button.
Limit orders allow you to decide on the specific price and amount at which you would like to buy a cryptocurrency.
The trade will go through when the cryptocurrency hits the designated price.
While the trade may not be completed right away, you will be able to trade at the price of your choice.
This method is sometimes also called a Maker order.
There is no fee charged for this transaction and there is also a rebate amounting to 0.01% of the total amount traded.
To place a Limit order, click on the Limit tab, enter the price and amount that you would like to trade and click on either the Buy Limit or Sell Limit button.
Withdrawing Cryptocurrencies from HitBTC Flowchart
How to Withdraw Cryptocurrencies from HitBTC
If you have profited from a trade, you may want to withdraw funds from your HitBTC account.
If there are no fiat currencies involved in the transaction, the process of withdrawing cryptocurrencies from your account is just the reverse of transferring funds into the account.
If you understand the HitBTC system, this should take no more than one minute to complete.
How to Withdraw — Step 1: Transfer Bitcoins from Your Trading Account to Main Account
In reverse of the process you went through to trade, you will need to transfer cryptocurrencies from your trading account to your main account.
This is an example of transferring Bitcoins.
Go to your account page and click on the left arrow next to Transfer in the Bitcoin row.
Enter the amount to withdraw, click on Transfer and confirm that your Bitcoins are now in your Main account.
How to Withdraw — Step 2: Decide on the Transfer Amount and Destination
From your account page, click on the 〇→ icon next to withdraw in the Bitcoin row.
You will see a screen where you can enter the amount of Bitcoin you would like to withdraw and the wallet address of the where you would like to transfer the funds to.
Please be very careful not to make a mistake when entering your address.
Withdrawal fees will vary depending on the cryptocurrencies. For specific fees, please refer to the end of this article.
After entering the relevant information, click on withdraw.
How to Withdraw — Step 3: Open the Link in the Confirmation Email
You will receive a confirmation email.
Access the link in the email to complete your withdrawal.
HitBTC Fees and FAQ
About HitBTC Fees and FAQ, please refer to the article below:
HitBTC Page Layout and Setup
The HitBTC trading screen is made up of a combination of several different screens.
These screens can be customized according to your preference.
HitBTC Trading Screen Components
- Currency Pairs
- Orders (Buy / Sell)
- History of Your Trades / Orders
- Depth Chart
- History of Recent 100 Trades
How to Change the Screen Layout
To change the screen layout, click on the icon of small square in the upper-right of the screen.
Click on the the Edit layout which appears at the top of the 3 options.
This will allow you to select the screens that you would like to see and change their layout.
How to Open an Account at HitBTC: Summary
・An account can be created within five minutes with just an email address.
・No personal identification is needed; Unlimited deposits and withdrawals of cryptocurrencies are possible.
・Cryptocurrencies need to be moved from your main account to your trading account in order to trade.
・Using Limit orders to buy or sell cryptocurrencies prevents trades from going through at unfavorable prices. Plus, you can get a rebate.
・You can change the screen layout to suit your preferences.
The biggest characteristics of HitBTC include the ease of account opening, low fees and the ability to trade in a lot of cryptocurrencies which have just conducted their Initial Coin Offering (ICO).
See more Information:
Twitter : https://twitter.com/PBTTofficial