Hotbit Review 2023

Volume (24h)
$83,619,574+7.10% ↑
8 / 10
Country of registration
Hong Kong
TOP 10 pairs by volume
24h Volume
Price change in 24h
24h Volume
Price change in 24h
+$15.62 ↑ / +0.06%
24h Volume
Price change in 24h
+$4.200 ↑ / +0.24%
24h Volume
Price change in 24h
+$4.200 ↑ / +0.24%
24h Volume
Price change in 24h
-$0.00000009440 ↓ / -0.88%
24h Volume
Price change in 24h
+$0.019888 ↑ / +1.60%
24h Volume
Price change in 24h
+$0.0011543 ↑ / +0.11%
24h Volume
Price change in 24h
+$0.0022966 ↑ / +2.54%
24h Volume
Price change in 24h
+$3.700 ↑ / +2.28%
24h Volume
Price change in 24h
-$0.0033004 ↓ / -0.29%
24h Volume
Price change in 24h
-$0.010482 ↓ / -0.15%

    Each new crypto exchange strives to offer users some features that will make their experience with cryptocurrencies more efficient.

    The Hotbit team has a global goal of creating Amazon in the blockchain industry. The main advantages of their trading platform: multi-currency, high liquidity, flexibility, security and reliability.

    Hotbit cryptocurrency exchange
    Hotbit homepage

    The platform has been operating since 2018, and at the time of this review, has never been hacked. Hotbit’s security rating is classified as B+ (corresponding to the top exchange rating of Binance).

    According to many traders, Hotbit is a good and reliable partner for the crypto market. Let’s know more about the functionality and capabilities of Hotbit exchange with experts.

    Registration and account verification

    Instructions on how to register on Hotbit:

    1. Go to the official website of the exchange and click Register in the upper right corner;
      Starting Hotbit Registration
      Hotbit registration
    2. Fill out the registration form depending on the chosen registration method (via email or by phone number);
    3. Write in your email address or phone number and create a password;
    4. Accept the platform terms of use;
    5. Press Register.
      Hotbit registration form
      Hotbit registration form

    KYC is not required on Hotbit for trading and withdrawals. However, the maximum withdrawal amount is 10 BTC per day per account. If the user wants to increase the limit, he needs to pass identity verification. For verified accounts the daily withdrawal amount is unlimited.

    Hotbit has a strict risk control system to ensure the safety of the user's assets. If the system confirms that the high-risk control system has been triggered, Hotbit has the right to ask the user to provide KYC to ensure the safety of all user funds on the platform.

    Account protection

    Despite the optional verification of your identity, you must activate two-factor authentication immediately after registration. This will increase your account security and protect your funds.

    To enable 2FA:

    1. Select the tab Account → Security settings in your personal account,;
      Hotbit security settings
      Hotbit security settings
    2. Scroll down to Google authenticator line and click Enable;
      Enable two-factor authentication
      Enable two-factor authentication
    3. Download the Google Authenticator app on your mobile device → Next;
      Upload Application
      Loading the application
    4. Scan the QR code (or enter it manually) → Next;
      Setting up two-factor authentication
      Setting up two-factor authentication
    5. Enter password and 2FA code from appConfirm.
      2FA Code Entry
      Entering the 2FA code

    The account is registered. What’s next?

    You can use the exchange immediately after registration. If you want to withdraw more than 10 BTC per day, you will need to pass verification.

    In order to start trading, the user must fund up the exchange account. Next, we'll show you how to do it.

    Available deposit and withdrawal methods

    The only way to replenish deposit on Hotbit is with cryptocurrencies (fiat is not supported). The output is also available in crypto only. There are the tnstructions on how to fund up your account with cryptocurrency:

    1. Select the tab Wallet → Deposit in your personal account;
      Hotbit User Wallet
      Hotbit user wallet
    2. Select the type of account you want to fund up. To fund up your main trading account, select Spot;
      Upload Spot Account
      Spot account funding
    3. Select the asset that you will transfer to the exchange from the list, for example, USDT → click Deposit in the same line;
      USDT Input
      USDT depositing
    4. Specify the network for transferring USDT in the new window, for example, choose TRC20 (make sure that the network on the exchange and in the sending wallet matches, otherwise the funds will be lost);
    5. The system will generate a unique deposit address: copy and paste it into the wallet from which you will transfer coins;
      Address to transfer USDt coins
      Address for transferring USDT coins
    6. Complete the transaction.

    Trading conditions and instruments available on Hotbit exchange

    In addition to trading on the classic spot market, the exchange offers other tools such as buying crypto from a card and ETF. Next, we will analyze each instrument in details, as well as designate the commissions.

    Buy crypto

    A Hotbit user can buy popular cryptocurrencies in one click by paying for the purchase with a card (EUR and USD are available). To buy cryptocurrency with a card:

    1. Select Buy crypto in your account;
      Purchasing cryptocurrency with a card
      Purchasing cryptocurrency with a card
    2. Specify currencies: the fiat one for which you will buy crypto and cryptocurrency for purchase;
    3. Select payment method;
    4. Mark the checkbox with terms of purchase;
    5. Click Buy now.
      Buy BTC with USD
      Buying BTC with USD

    Spot market

    Hotbit offers users to trade on the classic spot market.

    Spot contracts are executed with the user’s own funds and paid “here and now”. To access the spot market, select the Exchange tab.

    Access Hotbit Spot Market
    Access to the Hotbit Spot Market


    Hotbit also offers ETFs to its users.

    ETF is essentially a set of assets that is traded on the exchange (it would be more accurate to say that this tool is similar to fund of shares traded on the exchange). Anyone can become an investor by buing a part of this fund.

    Select the ETF tab in your account to view offers from Hotbit.


    Commissions and limits

    • Deposit: no commission;
    • Withdraw: The fee is determined by coin and network. For example, you need to pay 0.001 BTC for withdrawing Bitcoins in the Bitcoin network, 0.00001 BTC in the BCS network. This data is a subject to change: stay tuned for the fees page;
    • Trading: Commissions on trades are calculated on a Maker/Taker basis. The amount of fees also depends on the status of the user: Crowing, Global, Global Select. So, the higher the status, the lower the commission.
    Hotbit trading fees
    Hotbit trading dees

    How to trade on Hotbit cryptocurrency exchange

    We will show you how to trade on the Hotbit spot market. We funded our USDT account with coins, so we will demonstrate the buying process using the USDT/BTC trading pair as an example. Instructions on how to buy cryptocurrency:

    1. Select the Exchange tab in your account;
      Spot Trading
      Spot trading
    2. The trading terminal will open: specify the trading pair on the left part of it (in our example, this will be USDT/BTC);
      Select trading pair
      Selecting a trading pair
    3. Fill out the form for creating a buy order. It is located under the chart. Here you can select the type of order to operate with (for example, let’s choose Market one – the order will execute on the market price);
    4. Enter the number of coins you are spending on buying in the Total column;
    5. Click Buy BTC.
      Buy BTC
      Buying BTC

    To sell assets, follow the same pattern. The onlu difference is after choosing a trading pair, you need to select the selling form (it is located on the right side under the chart). After filling in all the data, click the red button Sell BTC.

    BTC sale
    Selling BTC

    Additional services of the Hotbit exchange

    Besides trading tools, the exchange offers several additional options, such as Investments and Hotdrop.


    The Investment section contains exclusive privileges for exchange’s VIP users, thanks to which you can maximize your passive income.

    The minimum investment is: 10 BTC / 100 ETH / 100K USDT.

    Hotbit promises maximum bang for your buck with the best rates in the industry and personalized account management.

    Investment Section
    Investment section


    The Hotdrop section provides access to new blockchain projects. By subscribing to the distribution of tokens, you can buy promising coins at a very early stage of their launch.


    Mobile Application

    You can use the Hotbit exchange from your phone by installing the application on your iOS or Android device.

    With the help of the mobile application, you can trade anytime, anywhere and get quick access to assets.

    Hotbit exchange mobile app
    Hotbit mobile app


    You can read reviews about the Hotbit exchange on the popular service Trustpilot.

    Among the positives, users note easy to use interface, multi-currency, negative trading fees for makers, B+ security (like Binance) and other advantages.

    Negative reviews are most often related to site outages, rejected withdrawal requests, delayed withdrawals, long waits for a response from support.

    Advantages and disadvantages

    Simple and clear interface;
    Multilingual and multicurrency;
    Purchasing of cryptocurrency with a card;
    Available markets: spot, ETF;
    Negative commission (rebate) for makers;
    Reduced trading fees for users with high turnovers;
    Additional services: Investments and Hotdrop;
    No cases of exchange's hacking.
    Deposit and withdraw are available only in cryptocurrencies;
    No online support chat (bots respond);
    No margin trading;
    Freezing and unstable platform.


    What is Hotbit?
    Hotbit is a blockchain platform for trading, exchanging and investing in cryptocurrencies.
    Is Hotbit exchange safe?
    The security level of the trading platform is classified as B+, which corresponds to the level of Binance. Since its launch in 2018, the exchange has never been hacked.
    Does Hotbit require KYC?
    Identity verification is optional on Hotbit. Users can trade immediately after registration. But if you need to withdraw more than 10 BTC per day, you will need to pass KYC verification.
    How to trade on Hotbit?
    To buy/sell cryptocurrency on the Hotbit spot market:

    1. Select the Exchange tab on the exchange's website,;
    2. Select trading pair on the left side of terminal, for example, BTC/USDT;
    3. Fill out the form for creating a buy/sell order below the chart: specify order type and other data;
    4. Click Buy BTC or Sell BTC depending on whether you are buying or selling assets.

    How do I deposit on the Hotbit exchange?
    You can fund up your account on the exchange in cryptocurrency only. For this:

    1. Select the tab Wallet → Deposit in your personal account;
    2. Specify the type of account you are depositing (for example, Spot);
    3. Select the asset you want to trasfer (for example, USDT);
    4. Click Deposit on the same line opposite the name of coin;
    5. Specify the network to transfer (for example, TRC20);
    6. Copy deposit address and paste it in the wallet where you transfer funds from;
    7. Complete the transaction.

    How to buy cryptocurrency on Hotbit?
    To buy cryptocurrency on the Hotbit exchange:

    1. Go to your personal account and select Exchange;
    2. Specify trading pair, for example, ETH/USDT;
    3. Create an order to buy ETH: specify order type, enter other data;
    4. Click Buy ETH (buy) or Sell ETH (sell).

    What country is Hotbit from?
    Hotbit is Chinese exchange registered in Hong Kong and Estonia. The team consists of experts from China, USA and Taiwan.
    How to withdraw from Hotbit?

    1. Select the tab Wallet → Withdraw in your account;
    2. Select the coin to withdraw, for example, ETH;
    3. Specify the network;
    4. Copy the address (or scan the QR-code) and paste it into the wallet where you transfer coins from;
    5. Confirm the transaction.

    How fast are transactions on the exchange?
    Transaction speed depends on blockchain load at the moment. It also requires a different number of network confirmations to transfer different coins.
    Is it safe to store assets on the Hotbit exchange?
    Purchased assets can be stored on the exchange. But for security reasons, we do not recommend doing this. It is better to use special crypto wallets.
    Was this article helpful?
    Thanks for your opinion!
    Your opinion is important for us
    Voted: 126
    94% Yes
    No 6%
    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
    Read more
    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the portal since 2022.
    Read more