A crypto exchange guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of HBTC consists of four parts: general info, fees, deposit methods and security.
HBTC is an exchange from Malta that launched in December 2018. It was previously known as BHEX but rebranded to HBTC on 13 April 2020. It describes itself as the “next generation innovative crypto assets financial services provider”.
On the date of first writing this review (27 June 2019), the 24 hour trading volume of HBTC was USD 120 million, putting it on place 50 on the list of the cryptocurrency exchanges in the world rated after 24 hour trading volume. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), HBTC had made an impressive climb on the list with a 24 hour trading volume of USD 1.51 billion (place no. 20 on the list). This trading volume is very good and shows that liquidity is definitely decent here.
HBTC’s selection of trading pairs is somewhat limited though. They have 25 trading pairs possible to trade.
The exchange states on its website that it has the backing of 56 institutional investors. Among these investors, HBTC lists Huobi and OKEX, two of the biggest other cryptocurrency exchanges in the world.
HBTC’s trading platform is not only available on desktop, but also through mobile usage. This means that as long as you have mobile data reception, you can execute your trades.
At this exchange, you can also engage in options trading. When you do option trading you purchase option contracts. An option contract is an investment contract that gives the holder of the option a right – but not an obligation (thus an “option”) – to buy (call option) or sell (put option) a certain asset at a certain price. Certain options give you the right to exercise the option whenever (before expiry of the contract), and other options are only permitted to exercise during a specific date. The former are known as American Options, and the latter are known as European Options.
If you’re a US-investor that wants to trade here, you’re unlucky. HBTC does not accept US-investors on its platform. Don’t be too sad though, if you’re a US-investor, you can always use our Exchange Finder to find out which trading platforms that you are allowed to trade at.
HBTC Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at HBTC:
HBTC Trading Fees
The trading fees at HBTC are 0.10% per trade. This means that the exchange does not distinguish between takers and makers. 0.10% per order is a competitive trading fee, substantially below the classical global industry average trading fees (arguably 0.25%). However, a majority of the cryptocurrency exchanges that have launched the last year or so do actually only charge 0.10% or 0.15%, so one could argue that the new global industry average is actually somewhere around 0.10%-0.15%. This would make HBTC’s fees in line with, and not substantially below, industry average.
In any event, you can be sure that the fees are not above industry average.
HBTC Withdrawal Fees
When considering the fees charged by an exchange, many investors just look at the trading fees. This can potentially cater for a nasty surprise when you want to withdraw your funds after a successful trading period. Then, hefty withdrawal fees might make you wish that you had also considered them (the withdrawal fees), when choosing your exchange.
The global industry average BTC-withdrawal fees are 0.000812 BTC. This figure was calculated by us here at Cryptowisser when we compiled the withdrawal fees of 200+ exchanges. HBTC charges 0.0006 BTC when you withdraw BTC. Their withdrawal fees are thus almost 30% below the global industry average and constitute a competitive advantage for this trading platform.
This trading platform does not accept any other deposit method than cryptos, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading at this trading platform, you will first have to purchase crypto from another exchange and then deposit them here. Don’t worry though, we will help you find an exchange where you can purchase your first cryptos by the help of our Exchange Finder. Do the test there now and you will see what alternatives you have.