Cryptolorium > Exchanges > Hotbit

Hotbit

Brand status: Bankrupt
Hotbit has fully ceased operations!





ratings
  clarity
55/100
  simplicity
75/100
  selection
90/100
  payments
39/100
  fees
70/100
  features
53/100
  trust
27/100
  app
78/100
  Overall
61/100


Exchange name
Hotbit
Launched
2018
Cryptos
700
Accounts
7 000 000
HQ
Shanghai, Shanghai
Phone
Not available
Website
hotbit.io
Licenses
Hong Kong & Estonia
Number of employees
200
Exchange card
no
Maximum leverage
0x
Payment options
Crypto, Fiat
Fiat deposit
yes
Fiat withdrawal
yes
Instant buy with fiat
no
Card payment
no
Paypal payment
no
SEPA payment
no
SWIFT payment
no
Apple Pay
no
Google Pay
no
Fees
Fiat deposit/withdrawal fees
1-5% / 1-10%
Instant buy fees
Transaction fees (maker/taker)
-0.05% / 0.2 %
Fee discounts
Maker-> -0.05% to -0.50% (when using HTB token to pay fees), Taker-> 0.20% to 0.65%
Crypto withdrawal fees
Bitcoin: 0.001 BTC
Ethereum: 0.012 ETH
Tether: 30 USDT
Binance Coin: 0.001 BNB
Cardano: 5 ADA
Solana: 0.05 SOL
Ripple: 4 XRP
Polkadot: 0.1 DOT
Dogecoin: 25 DOGE
Shiba Inu: 2000000 SHIB
Stellar: 8 XLM
Litecoin: 0.01 LTC
KYC info
Not required
KYC details
KYC requirement level
optional
Users accepted without KYC?
yes
Spot Trading
yes
Margin Trading
no
Futures Trading
yes
Trading bots offered
no
Maximum offered leverage
0x
Market order
yes
Limit order
yes
Stop limit order
yes
Stop market order
yes
Trailing Stop order
no
Post Only order
no
Strategy order
no
Time-in-force order
no
Iceberg order
no
Conditional order
no
Crypto staking
yes
Liquidity mining
no
Learn to Earn
no
Lotteries
no
Crypto lending
yes
Launchpools
no
Cloudmining
no
US traders accepted
no
UK traders accepted
yes
Japanese traders accepted
no
Aussie traders accepted
yes
Allowed countries
Restricted countries
United States of America, People's Republic of China, Singapore, Japan, Republic of The Sudan, The Syrian Arab Republic, North Korea (Democratic People's Republic of Korea), Islamic Republic of Iran, Republic of Liberia, The Republic of Cuba, The Republic of Côte d'Ivoire, The Republic of North Macedonia, The Republic of South Sudan, Republic of Belarus, The Republic of Congo, The Democratic Republic of the Congo, The Republic of Zimbabwe, Central African Republic, Republic of Albania, Republic of Lebanon, State of Lybia, The State of Eritrea, The Federal Republic of Somalia, The Republic of the Union of Myanmar, Yemen Republic, The Islamic Republic of Afghanistan, Republic of Iraq, Bosnia and Herzegovina, The Republic of Burundi, Republic of Chad, Bolivarian Republic of Venezuela
Bonus
-

HotBit – exchange with no KYC requirement

Hotbit is a digital assets exchange platform launched in 2018. According to Hotbit website, they are registered in Estonia and Hong Kong.

However, neither the Estonian Authorities nor the Hong Kong authorities can verify that.

Being a fairly new cryptocurrency exchange, Hotbit has shown good growth during the last few years.

At the time of writing this Hotbit review, Hotbit has more than 7.1 million accounts.

Considering Hotbit is a no KYC crypto exchange, or at least an exchange where you don’t need KYC for withdrawing up to 10 BTC a day, that’s no surprise.

Of course, compared to the big exchanges, Hotbit is still fairly small when it comes to trading volumes.

As such Hotbit exchange might not be a good choice for professional traders because of lower trading volume. But as a no KYC exchange it’s perfect for beginners.

Hotbit Exchange native crypto token is Hotbit Token (HTB).

Where is Hotbit available?

Hotbit is currently available in more than 170 countries. So you could say that Hotbit account creation option is available for people from around the world.

Of course, Hotbit does not accept users from some very big countries.

Is Hotbit available in the US?

At this time Hotbit does not accept traders from the United states.

Which other countries doesn’t Hotbit accept?

In addition to USA, Hotbit doesn’t accept traders from China, Singapore, Japan, Sudan, Syria, North Kore, Iran, Liberia, Cuba, Côte d'Ivoire, North Macedonia, South Sudan, Belarus, The Republic of Congo, The Democratic Republic of the Congo, Zimbabwe, Central African Republic, Albania, Lebanon, Lybia, Eritrea, Somalia, Myanmar, Yemen, Afghanistan, Iraq, Bosnia and Herzegovina, Burundi, Chad, and Venezuela.

Hotbit safety and regulation

Hotbit is currently one of the fastest growing exchanges in the world when it comes to daily trading volume. At least according to the company itself.

According to Hotbit, they offer an internal review audit team that is looking for potential issues 24/7.

So based on that Hotbit should be a safe exchange.

So is Hotbit safe to use?

Is Hotbit.io safe to use?

Hotbit has a number of safety measures in place to protect your crypto assets, such as

  • Two factor authentication
  • Additional Email/SMS verification for withdrawals

But as a no KYC exchange, you do need to be careful. Especially considering the discrepancies between what the company says itself about where they are registered and what those governments are saying.

Hotbit exchange details

Year established: 2018
CEO/Chairman of the Board: Karl Wang
Number of Employees: 51-200
Number of Cryptos: ~700
Headquarters: Shanghai, Shanghai
Number of accounts: Over 7 million
Official website: https://www.hotbit.io


HotBit crypto selection

Hotbit has roughly 700 cryptos available. You can see Hotbit crypto list here.

Additionally, find 25 latest Hotbit new listings below:

Top 25 HotBit.io new listings

All prices are in EUR.
Cryptocurrency
Current Price
Week Change %
Added to Cryptolorium
Cryptocurrency
Current Price
€0.012749
Week Change %
12.5447%
Added to Cryptolorium
2023-05-18
Cryptocurrency
Current Price
€1.25
Week Change %
-1.39958%
Added to Cryptolorium
2023-04-26
Cryptocurrency
Current Price
€1.43
Week Change %
-85.046%
Added to Cryptolorium
2023-03-18
Cryptocurrency
Current Price
€0.0187267
Week Change %
-4.87159%
Added to Cryptolorium
2023-03-10
Cryptocurrency
Current Price
€0.228906
Week Change %
6.13779%
Added to Cryptolorium
2023-03-06
Cryptocurrency
Current Price
€0.0430275
Week Change %
-10.5485%
Added to Cryptolorium
2023-02-28
Current Price
€0.00469258
Week Change %
18.8732%
Added to Cryptolorium
2023-02-17
Cryptocurrency
Current Price
€0.00155162
Week Change %
7.98709%
Added to Cryptolorium
2023-02-08
Cryptocurrency
Current Price
€0.0379695
Week Change %
6.98962%
Added to Cryptolorium
2023-02-04
Cryptocurrency
Current Price
€0.00003262
Week Change %
36.9899%
Added to Cryptolorium
2022-12-30
Cryptocurrency
Current Price
€0.0021237
Week Change %
16.8196%
Added to Cryptolorium
2022-12-25
Cryptocurrency
Current Price
€0.070026
Week Change %
24.6299%
Added to Cryptolorium
2022-12-12
Cryptocurrency
Current Price
€0.434762
Week Change %
25.6112%
Added to Cryptolorium
2022-12-12
Cryptocurrency
Current Price
€0.00029211
Week Change %
2.29793%
Added to Cryptolorium
2022-12-10
Cryptocurrency
Current Price
€0.264414
Week Change %
24.9233%
Added to Cryptolorium
2022-12-04
Cryptocurrency
Current Price
€0.00024857
Week Change %
0%
Added to Cryptolorium
2022-12-04
Cryptocurrency
Current Price
€0.0000012
Week Change %
1.37356%
Added to Cryptolorium
2022-12-03
Cryptocurrency
Current Price
€0.00069094
Week Change %
2.67487%
Added to Cryptolorium
2022-12-03
Cryptocurrency
Current Price
€0.831827
Week Change %
9.31517%
Added to Cryptolorium
2022-11-24
Cryptocurrency
Current Price
€0.921246
Week Change %
0.250241%
Added to Cryptolorium
2022-11-18
Cryptocurrency
Current Price
€0.00009947
Week Change %
62.3248%
Added to Cryptolorium
2022-11-14
Cryptocurrency
Current Price
€0.360522
Week Change %
19.0539%
Added to Cryptolorium
2022-11-12
Cryptocurrency
Current Price
€0.000000000964034
Week Change %
3.38806%
Added to Cryptolorium
2022-11-04
Cryptocurrency
Current Price
€0.00207911
Week Change %
0%
Added to Cryptolorium
2022-11-02
Cryptocurrency
Current Price
€0.00249755
Week Change %
0%
Added to Cryptolorium
2022-10-28

Hotbit payments

What payment options does Hotbit offer? Let’s quickly go through all Hotbit deposit options as well as Hotbit withdrawal options.

Hotbit Deposits

At this time you can deposit either crypto or fiat. Hotbit fiat deposits can be done through third-party payment providers.

How to deposit on Hotbit?

Making deposits on Hotbit is easy:

  1. Sign up
  2. Find “Wallet” tab on top-right of the page and choose “Deposit”
  3. Choose Crypto or Fiat
  4. And make the deposit

Note that if you want to make a fiat deposit, this is done through third-party providers and you might need to create an account with them first.

Hotbit Withdrawals

Important: for new accounts there is a 24h hour waiting period before you can make your first withdrawal!

Hotbit allows withdrawals both with crypto and fiat money, but in case of fiat withdrawals you need to do it through third-party and you need to have an account with them.

Does Hotbit exchange have a withdrawal limit?

Hotbit daily withdrawal limit depends whether you have completed KYC process or not.

Minimum withdrawal limit depends on the cryptocurrency. Normally there is no maximum withdrawal limit.

But Hotbit withdrawal limit without KYC is 10BTC/day.

Hotbit withdrawal time depends on status of the network.

Trading on Hotbit platform

Trading in Hotbit platform is as easy as it is using pretty much any other crypto exchange platform.

And considering not all exchanges offer that, especially the ones that offer more unknown cryptos as well, Hotbit does have Market order option available.

It’s also important to mention that at this time Hotbit does not offer margin trading.

Trading on Hotbit exchange

Hotbit KYC

Hotbit allows trading, deposits and also withdrawals without KYC. However, Hotbit withdrawal limit without KYC is 10BTC/day.

Considering the amount, that should be good enough for most traders.

However, if you want to increase your limit or make your account safer, you recommend you to go through Hotbit KYC process.

Hotbit app

Hotbit has a nice and intuitive mobile trading app for those who want to trade using their smartphones.

Hotbit mobile trading app is available both on iOS and Android.

Hotbit Fees

What are hotbit fees? How how commission should you expect to pay when trading in Hotbit? And how much do Hotbit deposits and withdrawals cost?

Hotbit deposit fees

Hotbit crypto deposits don’t cost a thing, like in most other crypto exchanges.

But when it comes to Hotbit fiat deposit option, then it depends on your country and which third-party payment provider you are using. But Hotbit deposit fee is usually not too high and costs you anywhere between 2-5%.

Hotbit withdrawal fees

The withdrawal fee depends on network Cost of the Blockchain, but you can see the standard fees for some main cryptocurrencies here:

BTCETHUSDTBNBADASOLXRPDOTDOGESHIBXLMLTCTRX


As you can see, Hotbit USDT withdrawal fees are quite high. And the same can be said about hotbit xrp withdrawal.

Hotbit trading fees

Hotbit.io exchange trading fees are not the lowest in the industry, but they are still pretty average and we can’t complain about that.

  • Maker-> -0.05% to -0.50% (when using HTB token to pay fees)
  • Taker-> 0.20% to 0.65%

Hotbit Earn – investments

Which type of earning options besides just HODL does Hotbit offer?

Hotbit earn products can all be found under “Investments” tab.

Hotbit investments page does look slightly more complicated or overwhelming compared to some other exchanges like Binance, Kucoin or Gate.io, but fortunately in the bottom of each page you have a nice FAQ list to help you out.

Hotbit investments page is currently divided between the following tabs:

  • Lending
  • Defi
  • Quantitative
  • Incentive plans
  • POS
  • Rebase

Hotbit customer support

Hotbit has live chat feature which is always available in the bottom-right corner.

Additionally you can also use the contact form to send them an email. The link to the contact form can be found in the site footer under “Submit Your Problem ” anchor.

And Hotbit has put together a nice FAQ page which explains most of the topics as thoroughly as possible.

You can find Hotbit new users guide, answers to most common questions relating to Hotbit deposits and Hotbit withdrawals and much more.

Pros and cons of using Hotbit

Pros
Cons
Wide range of cryptos - More 700 cryptocurrencies and 1500 trading pairs
U.S. customers can’t use the Hotbit platform
Fiat deposits are possible
Some crypto withdrawal fees can be high
Does not require KYC verification
Fiat deposits through third-party provider

Does not offer margin trading

Fake volume allegations

No unique features compared to other exchanges

How to get started in Hotbit?

Getting started in Hotbit is very easy.

  • Go to hotbit.io website and click “Register” button in the top-right corner.
  • You can create your account either by using your email or your phone.
  • After that’s done, you are asked to set up 2FA verification. It’s not mandatory, but it’s definitely recommended.
  • Please keep in mind that you do need do use your real email address and phone number.
  • That’s because now you’ll need to verify your email/phone with the code you were just sent.
  • And your account has been created!

Create Hotbit account

That’s how easy it is to create Hotbit account.

And as mentioned, Hotbit is an exchange without KYC verification. This means that you can deposit, trade, and withdraw money from Hotbit without identity verification.

At the same time – we do recommend you do verify your account.

Conclusion

Hotbit.io is a fairly new crypto exchange. But since its inception Hotbit has seen remarkable growth. However, based on 24h trading volume at the time of writing this Hotbit review, it ranks only #119 with volume of $321,201,157.

Hotbit is an exchange that doesn’t require you to go through KYC process. And there aren’t too many of those around anymore. At least not trustworthy ones.​​​​




Quick answers to frequently asked questions

Does Hotbit require KYC?
No. You can deposit, trade, and withdraw without KYC. You can withdraw up to 10 BTC a day without verifying your identity.
When was Hotbit established?
Hotbit was launched in 2018.
Does Hotbit accept traders from USA?
No. At this point people from USA can not trade in Hotbit.
Does Hotbit support fiat deposits and withdrawals?
It is possible to make fiat deposits, but the these deposits are done through third-party providers.
How high are Hotbit fees?
Hotbit trading fees depend on your trading volume, but they are in these ranges: Maker-> -0.05% to -0.50%, Taker-> 0.20% to 0.65%.