Hotbit vs Coinsbit: Fees, Coins, Safety Comparison
| Feature | Hotbit | Coinsbit |
|---|---|---|
Overall |
3.8 |
2.8 |
1.8 |
1 |
|
4.1 |
3.6 |
|
5 |
3.3 |
|
Investment Instruments |
5 |
2.3 |
Platforms and Charting Tools |
4.1 |
2.6 |
Deposit and Withdrawal |
3.5 |
3.2 |
Research |
1.2 |
3.3 |
Education |
1.5 |
2.6 |
Support |
2.4 |
2.8 |
Bonuses |
1 |
3.1 |
|
Your capital is at risk.
|
Hotbit vs Coinsbit: Pros and Cons
The Hotbit cryptocurrency exchange offers spot and ETF trading without leverage. Bitcoin and the most popular altcoins are traded on the platform, including Ethereum, Litcoin, Ripple, etc. Several fiat currencies are represented, including the US dollar, euro, and Chinese yuan. The exchange implements five investment solutions, including De-Fi coin deposits, lending, and POS. Trading commissions on the exchange are fixed and do not depend on the trading volume, for example, 0.05% for the maker, and 0.2% for the taker. The commission for withdrawing funds by any of the methods is BTC 0.001 or the equivalent in the withdrawn currency. In addition to the web terminal, there is a mobile application for iOS and Android. There is a listing that promotes the addition of new cryptocurrencies, and coins are constantly being added to the platform.
The Coinsbit exchange is a platform for exchanging, buying, and selling cryptocurrencies. The company trades Bitcoin, Ripple, Litecoin, Bitcoin Cash, Ethereum Classic, and other cryptocurrencies. Defi coins are represented by Swipe, Loopeng, Republic, SushiTokerm, and Compound, etc. There are stablecoins. Coinsbit features crypto-fiat pairs with eight world currencies, including the US dollar and the Russian ruble. There is classic and advanced trading, trading through Metamask and OTC. Passive earning options include staking into blockchain projects and the ability to provide P2P loans. You can receive additional payments for participating in trading contests and the Bug Bounty Vulnerability Search Bonus Program. There is a three-level referral program, and you can enter your own coin on the platform.
| Hotbit | Coinsbit | |
|---|---|---|
| Overall Pros | Over 1500 supported coins | the most popular cryptocurrencies are traded on this exchange; |
| the simple and convenient trading platform | there are eight crypto-fiat pairs; | |
| five investment solutions | there’s the opportunity to invest profitably in the blockchain; | |
| Negative maker's fee | loans in crypto; | |
| Leveraged ETF contracts | convenient application for mobile trading; | |
| simplified and professional cryptocurrency trading; | ||
| high level of security (cold storage and WAF); | ||
| high productivity (up to 10,000 trades per minute); | ||
| low but fixed commissions for trading operations; | ||
| Overall Cons | Non regulated | no call center; |
| Successful hack attacks | no training courses. | |
| US customers are not supported | ||
| high taker's fee |
Hotbit vs Coinsbit: Safety and Regulation
| Regulated By: | Hotbit | Coinsbit |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
Hotbit vs Coinsbit: Trading Conditions
| Trading Conditions | Hotbit | Coinsbit |
|---|---|---|
Minimum Deposit |
$1 |
0.00001 BTC |
Trading Platforms |
Hotbit |
TradingView |
Max Leverage (Futures) |
44562 |
44562 |
Number of Markets |
1500+ |
1 560+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, Fiat currencies |
Cryptocurrencies, fiat currencies |
Hotbit vs Coinsbit: Fees
Trading Fees
| Fee | Hotbit | Coinsbit |
|---|---|---|
Max Maker |
-0.05% |
0.2% |
Max Taker |
0.65% |
0.2% |
Min Maker |
-0.5% |
0.2% |
Min Taker |
0.20% |
0.2% |
Debit/Credit Card Purchase Fee |
Not supported |
0.8% |
Futures Trading fees
| Fee | Hotbit | Coinsbit |
|---|---|---|
Max Maker |
not supported |
Not supported |
Max Taker |
not supported |
Not supported |
Min Maker |
not supported |
Not supported |
Min Taker |
not supported |
Not supported |
Non-Trading Fees
| Fee | Hotbit | Coinsbit |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
USD 0.8% , Crypto - free |
Bank Transfer Withdrawal Fee |
Not supported |
0.4% |
Debit/Credit Card Withdrawal Fee |
0.4% |
|
BTC Withdrawal Fee |
0.001 BTC |
0.0005 BTC |
Inactivity Fee |
No |
Hotbit vs Coinsbit: Trading Assets
| Asset Name | Hotbit | Coinsbit |
|---|---|---|
Overall |
1500+ |
1 560+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
No |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
No |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
No |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
No |
NFT |
Yes |
No |
Crypto ETF |
Yes |
No |
Hotbit or Coinsbit: Investment Programs
| Asset Name | Hotbit | Coinsbit |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Lending. Credits are provided to projects by affiliates of the exchange; Deposits in De-Fi coins; Quantitative and Incentive Plans. In both cases, the investor provides cryptocurrency from his account for the development of blockchain projects and the personal needs of the platform. |
No |
Trading Platforms: Coinsbit or Hotbit
| Hotbit | Coinsbit | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Coinsbit or Hotbit
| Hotbit | Coinsbit | |
|---|---|---|
SMS Based 2 FA |
Yes |
No |
App Based 2 FA |
No |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Coinsbit or Hotbit
| Hotbit | Coinsbit | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
No |
Yes |
Mobile trading: Coinsbit or Hotbit
| Hotbit | Coinsbit | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Coinsbit or Hotbit
| Hotbit | Coinsbit | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
No |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
Hotbit vs Coinsbit: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Hotbit | Coinsbit |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
Hotbit vs Coinsbit: Research
| Research Type | Hotbit | Coinsbit |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
NO |
Yes |
E-Mail Reports |
No |
No |
Hotbit vs Coinsbit: Education
| Education Type | Hotbit | Coinsbit |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Webinars |
No |
No |
Coinsbit vs Hotbit: Support
| Support Features | Hotbit | Coinsbit |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
Hotbit vs Coinsbit: Crypto Bonuses and Promo
| Promo | Hotbit | Coinsbit |
|---|---|---|
Crypto Bonus |
No |
Trading contests, Bug Bounty Vulnerability Search Bonus Program |
Affiliate Program |
No |
25% of commissions for first-level referrals; 15% of commissions for second-level referrals; 10% of the commissions of third-level referrals. |
|
Your capital is at risk.
|
Top 5 Reviews on Coinsbit
-
Comment
Coinsbit suffers from frequent technical issues, including slow transactions and unreliable performance during peak hours. Furthermore, the lack of transparency regarding fees and security measures raises concerns about the platform's integrity. I advise caution and recommend exploring alternative exchanges for a smoother trading experience.
-
Comment
Money is not withdrawn, information is not given, the specified phones are fake. Another kidalovo.
-
Comment
The support could not give clear answers to my questions, this indicates the frivolity of the company. It looks like everything is fake. Therefore, I think that especially for beginners, there is every chance to easily drain all the money.
-
Comment
This is an average exchange with average opportunities. Although I have been trading on Coinsbit for two years, I cannot call this platform above average. Yes, there are passive investing chips. But at the moment, many exchanges offer such investment and accept the same CNB coin that you could get for free not so long ago. Everyone expected the CNB rate to skyrocket, but it sank so that it makes no sense to sell CNB now. I still keep this token in the investment pool, but the profitability on it is very weak. I think the owners of the Coinsbit exchange should do some marketing work. Otherwise, clients will start scattering.
-
Comment
Everything suits me on the Coinsbit exchange and there are a very large number of crypto pairs here. The exchange is constantly listing and adding new crypto pairs. The support service works competently and always answers questions. So far, no controversy has arisen. The trading platform is good and deals are opened very quickly. I trade the main crypto pairs in most transactions, the demand and supply for them are high. I don’t use such functions as investing or 2P2 loans, trading is enough for me. The commissions for transactions are quite acceptable, and I did not notice that the exchange took commissions for input and output.
Top 5 Reviews on Hotbit
-
Comment
The Hotbit exchange behaved unworthily after closing. They promised to withdraw the money within a few months in 2023. But now it's already February 2024, and my 5000 USDT are still on this exchange. And I suppose I won't be able to get my money back. Even the fact that the Hotbit exchange was registered didn't help me get my money back.
-
Comment
The Hotbit exchange is the most disgusting platform for cryptocurrency trading. Not only did their platform work very poorly, but they also didn't withdraw my funds after announcing the closure of the exchange. This is already called fraud. A group of traders and I tried to file a collective lawsuit, but we were told that we wouldn't achieve anything.
-
Comment
At first, the Hotbit exchange announced the temporary suspension of Bitcoin withdrawals, then they halted USDT withdrawals. I should have reacted immediately, converting everything to XRP and withdrawing. My friend did just that. However, I waited for the situation to be resolved. When the announcement came about the cessation of Hotbit's operations, it was already too late. Although they mentioned that withdrawals could be made until July, none of my withdrawal requests were executed.
-
Comment
My access to the Hotbit exchange account was blocked even before the exchange announced the cessation of its operations. I don't know about the withdrawal situation for other users; however, nobody returned my money from Hotbit. I lost $1280 here, and I believe they were simply stolen!
-
Comment
HOTBIT is also nonsense. It allowed me to deposit money without verification. And when I decided to make a withdrawal, they demanded verification. And I didn’t pass it, I don’t know why. I am submitting documents for the second time, since I have to withdraw the money.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.