Hotbit vs MXC: Fees, Coins, Safety Comparison
| Feature | Hotbit | MXC |
|---|---|---|
Overall |
3.8 |
3.3 |
1.8 |
3.2 |
|
4.1 |
2.9 |
|
5 |
4.1 |
|
Investment Instruments |
5 |
3.8 |
Platforms and Charting Tools |
4.1 |
3.0 |
Deposit and Withdrawal |
3.5 |
3.1 |
Research |
1.2 |
2.7 |
Education |
1.5 |
2.5 |
Support |
2.4 |
3.4 |
Bonuses |
1 |
3.9 |
|
Your capital is at risk.
|
Hotbit vs MXC: 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 The commission for withdrawing funds by any of the methods is BTC 0.001 or the equivalent in the withdrawn currency.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 MXC cryptocurrency exchange (MXC.com) has been operating since 2018. The company is registered in Singapore, which is a loyal digital asset jurisdiction. The platform offers clients trading and P2P exchange services. The main specialization of the trading platform is to provide clients with crypto/crypto trading services with currencies such as Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT). The undoubted bright side of the platform is access to cryptocurrency ETF funds.
| Hotbit | MXC | |
|---|---|---|
| Overall Pros | Over 1500 supported coins | 120+ cryptocurrencies for trading; |
| the simple and convenient trading platform | receive additional income through staking and holding; | |
| five investment solutions | an affiliate program with income up to 80% of the deposit of the invited trader. | |
| Negative maker's fee | ||
| Leveraged ETF contracts | ||
| Overall Cons | Non regulated | commissions of 0.2% per trade; |
| Successful hack attacks | withdrawal fees (0.0005 BTC for Bitcoin); | |
| US customers are not supported | lack of support for fiat currencies for trading; | |
| high taker's fee | no MAM or PAMM accounts; | |
| mandatory verification. |
Hotbit vs MXC: Safety and Regulation
| Regulated By: | Hotbit | MXC |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
FSA |
Hotbit vs MXC: Trading Conditions
| Trading Conditions | Hotbit | MXC |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
Hotbit |
MXC |
Max Leverage (Futures) |
44562 |
44835 |
Number of Markets |
1500+ |
559+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, Fiat currencies |
USD, cryptocurrencies |
Hotbit vs MXC: Fees
Trading Fees
| Fee | Hotbit | MXC |
|---|---|---|
Max Maker |
-0.05% |
0.200% |
Max Taker |
0.65% |
0.200% |
Min Maker |
-0.5% |
0.16% |
Min Taker |
0.20% |
0.16% |
Debit/Credit Card Purchase Fee |
Not supported |
Not supported |
Futures Trading fees
| Fee | Hotbit | MXC |
|---|---|---|
Max Maker |
not supported |
0.020% |
Max Taker |
not supported |
0.060% |
Min Maker |
not supported |
0.014% |
Min Taker |
not supported |
0.042% |
Non-Trading Fees
| Fee | Hotbit | MXC |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
Not supported |
Not supported |
Debit/Credit Card Withdrawal Fee |
Not supported |
|
BTC Withdrawal Fee |
0.001 BTC |
0.001 BTC |
Inactivity Fee |
No |
Hotbit vs MXC: Trading Assets
| Asset Name | Hotbit | MXC |
|---|---|---|
Overall |
1500+ |
559+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
No |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
Yes |
NFT |
Yes |
No |
Crypto ETF |
Yes |
Yes |
Hotbit or MXC: Investment Programs
| Asset Name | Hotbit | MXC |
|---|---|---|
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. |
Holding |
Trading Platforms: MXC or Hotbit
| Hotbit | MXC | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: MXC or Hotbit
| Hotbit | MXC | |
|---|---|---|
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: MXC or Hotbit
| Hotbit | MXC | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
No |
Yes |
Mobile trading: MXC or Hotbit
| Hotbit | MXC | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: MXC or Hotbit
| Hotbit | MXC | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
No |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
Hotbit vs MXC: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Hotbit | MXC |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
No |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
Hotbit vs MXC: Research
| Research Type | Hotbit | MXC |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
NO |
Yes |
E-Mail Reports |
No |
No |
Hotbit vs MXC: Education
| Education Type | Hotbit | MXC |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Webinars |
No |
No |
MXC vs Hotbit: Support
| Support Features | Hotbit | MXC |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
No |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
No |
Ticket |
Hotbit vs MXC: Crypto Bonuses and Promo
| Promo | Hotbit | MXC |
|---|---|---|
Crypto Bonus |
No |
Rewards Center |
Affiliate Program |
No |
MXC.com pays customers up to 80% of the affiliate's replenished amount. |
|
Your capital is at risk.
|
Top 5 Reviews on MXC
-
Comment
While Mexc's dedication to security is commendable, it does little to offset the frustrations caused by their subpar user interface, inadequate customer support, and limited cryptocurrency selection. As a client, I cannot overlook these significant drawbacks, and I would caution others to carefully consider their options before entrusting their funds to Mexc.
-
Comment
The company has completely lost its position. Until now, it positions itself as a global player, and you conduct your main activities from offshore. The dynamics are obvious, customers are leaving, conditions are getting worse! If the logic is correct, then it would be more correct to withdraw the remaining money from the account and transfer it to another company. At least as a precaution.
-
Comment
Yesterday, after all, they withdrew $200. I didn't hope anymore. Ordered November 10th. Can you still start to restore normal operation? I would like to hope!
-
Comment
I have been trading on MXC since January 2021. Before that, I collaborated with another popular crypto exchange. But at the end of last year, it changed the size of its commission, so I had to look for another site. I mainly work with BTC/USDT and this pair is the most active on MXC. I saw network reviews of disgruntled users who complain about deception by the exchange and even blocking of accounts. Personally, I have not noticed any scams on MXC.com, so I will not believe in libel until I see the violation with my own eyes.
-
Comment
There are many referral links on the network on thematic sites for registering with MXC. Prompted, I opened an account here and got a 10% discount on the first transaction. In general, I liked the site of its crypto exchanger. Everything is clear, several versions are available in different languages, and the choice of contests and bonuses is huge. So far, I only work with crypto on this exchange, but in the future, I plan to invest in ETFs, since today this is a fairly popular topic. The MXC exchange does not take money for making a deposit and the trading commission is fixed, which suits me perfectly.
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.