Hotbit – Crypto Exchanges

Hotbit, a centralized exchange, holds the # position on BitDegree Exchange Tracker with a substantial 24-hour trading volume of $44,624,095.

Hotbit established in 2018

Established in 2018, Hotbit aspires to be the “Amazon of Crypto,” offering support for six languages, including English, Chinese, Russian, Turkish, Thai, and Korean, catering to a diverse user base.

The exchange is strategically focused on emerging crypto markets such as Japan, Russia, South Korea, Southeast Asian countries, and Turkey. Adhering to strict financial regulations, Hotbit emphasizes KYC verification, requiring users to verify their identity using government-issued ID cards for fund withdrawals. New accounts face a 24-hour withdrawal restriction to prevent money laundering or terrorist financing.

Hotbit user base

Hotbit boasts more than 7 million registered users across 170 countries, excluding the United States. With over 3,200 trading pairs and 1,900 listed tokens, it ranks among the exchanges with the highest number of trading pairs, averaging a daily trade volume exceeding $60 million.

The exchange exclusively offers spot and ETF trading, lacking support for margin or futures trading. Notable cryptocurrencies like BTC, ETH, and LTC are available, categorized into global assets, stable assets, NFTs, web3 assets, and DAO.

Hotbit employs distinct fee structures for maker and taker trades, varying based on the type of trade and platform selection. Deposits are only accepted in cryptocurrencies, with no fees incurred. Withdrawal fees are contingent on blockchain network or gas fees.

The native utility token, Hotbit Token (HTB), exceeding 700 million in total supply, grants users trading and staking fee discounts. Hotbit further provides income-generation opportunities through flexible staking, DeFi farm options, events, airdrops, and a referral program offering up to 60% commission on fees.

Founded in January 2018 and registered in Hong Kong and Estonia, Hotbit operates from Shanghai and Taipei. It has partnered with notable entities like F2pool, Spark Pool, Mytoken, Slow Mist, HashQuark, and others. The exchange tackled withdrawal issues and, as of January 2023, has not reported any security breaches.