What is HitBTC?
HitBTC is an exchange, a place of exchange, purchase and trade with Criptomedas, speculating with the movement of its prices.
It is a really interesting exchange for all those who are looking for a place to exchange a wide variety of crypto currencies.
According to some information is the most advanced exchange in the world, I think this is stating a lot, although it is true that it is becoming a reference, precisely because of the variety of Altcoints offered through its platform.
There may also be many people interested in working with HitBTC because it offers a large number of applications, so that software developers can generate trading applications related to Exchange.
Another big difference that other trading platforms do not offer, and that we can find in HitBTC is the possibility of buying with fiat money: dollars, euros or pounds.
The platform is in operation since 2013. At the beginning it offered the possibility to trade with Bitcoin, Ethereum, Litecoin, Dogecoin and Monero, its offer has grown to 300 encrypted currencies.
According to their website, their official headquarters is in Hong Kong (like most stock exchanges), although they have a physical (representative) office in Chile.
We must understand that the Stock Exchanges and the Cryptomonedas are still in a legal vacuum. The authorities are becoming increasingly aware that the Cryptomoneda are here to stay and we talk about national and international regulations.
At the moment there is nothing definite, because at the moment that governments generate a legal reality that will give as good virtual money, which could generate a little economic «chaos».
With this idea in mind, what we can ask of an exchange in terms of security is that our transactions are secure and that the encrypted currencies deposited are secure.
As for Fiat money, for the moment we will have to trust its honesty, in this sense it is better to have only the money we need to make transactions.
The security protocols that HitBTC implements are as follows:
Platform access password
This is the first barrier of entry that is not unique, because any type of account or service that contracted on the Internet will be protected by a password.
As this is the first security barrier, it should ideally be difficult to decipher.
You have to avoid the typical: dates, names… and it must contain a combination of numbers and letters, capital letters and symbols that make it almost indecipherable.
Of course, we must familiarize ourselves with it and not have it in any kind of medium, especially inside our computer.
Two-step authentication within HitBTC features the Google Authenticator tool.
The 2FA protocol is optional, we must activate it through the security card.
We must access our platform, click on security and follow the instructions of the platform.
So that we can always be safe from impersonation and so that someone can access our account, we will have a series of automatic notifications:
- Notification of new IPs. If someone accesses our platform from an IP (our Internet line address) that is not the usual, we will receive an alert in our email.
- Possibility to close all sessions. If we discover that someone is accessing our account, we will have the ability to automatically close all sessions, so as to cancel any unauthorized access.
- Logout. The automatic logout allows us to close the open session at the end of a scheduled time: a few minutes, a few hours, a few hours, days ….
- Monitor the latest activities. Through our account, we will be able to access the whole story: login, movements of Cryptomoney….
Advantages of HitBTC
When choosing a stock exchange to trade with, we must always keep in mind what advantages it offers, which may be different from the rest of traders.
HitBTC has some notable advantages:
Trading and Trading Platform
Although this trading activity is becoming more and more extensive across the stock exchanges, not all of them have a trading platform with interactive charts, trading information, available pairs for trading, etc.
Most trades are limited to providing price information.
The HitBTC demo account gives you access to the entire platform, trading with any Cryptomoneda without risking a single penny.
It is an ideal feature for those who are starting to trade with Criptomonedas, but it is also a good tool for experienced developers and traders who want to test strategies.