Hotbit vs PaxFul: Fees, Coins, Safety Comparison
| Feature | Hotbit | PaxFul |
|---|---|---|
Overall |
3.8 |
4.1 |
1.8 |
3.9 |
|
4.1 |
4.5 |
|
5 |
3.2 |
|
Investment Instruments |
5 |
4.1 |
Platforms and Charting Tools |
4.1 |
3.4 |
Deposit and Withdrawal |
3.5 |
5.0 |
Research |
1.2 |
2.5 |
Education |
1.5 |
5.0 |
Support |
2.4 |
3.9 |
Bonuses |
1 |
2.0 |
|
Your capital is at risk.
|
Hotbit vs PaxFul: 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 The commission for withdrawing funds by any of the methods is BTC 0.001 or the equivalent in the withdrawn currency.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 Paxful exchange is a peer-to-peer trading platform for Bitcoin, Tether, and Ethereum trading instruments. There are over 350 ways to buy and sell these cryptocurrencies. The company has its offices in 21 countries and has almost 5 million active users. A free cryptocurrency wallet, which is provided when registering on the exchange, is among the distinctive features. The security system is based on a safekeeping account, where the funds of the seller and the buyer shall be reserved to avoid the dishonesty of one of the parties.
| Hotbit | PaxFul | |
|---|---|---|
| Overall Pros | Over 1500 supported coins | Low P2P fees |
| the simple and convenient trading platform | The platform is fully localized and translated into 21 languages | |
| five investment solutions | Hundreds payment methods, from bank transfers to e-wallets; | |
| Negative maker's fee | Over 12 thousand reliable sellers and buyers | |
| Leveraged ETF contracts | Free Bitcoin wallet with BitGo is enabled; | |
| Pafull pay for business | ||
| You change Bitcoin for any services and goods | ||
| Overall Cons | Non regulated | Limited number of suported coins - only ETH, BTC, USDT |
| Successful hack attacks | Limited analytics and educatioin | |
| US customers are not supported | ||
| high taker's fee |
Hotbit vs PaxFul: Safety and Regulation
| Regulated By: | Hotbit | PaxFul |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
Hotbit vs PaxFul: Trading Conditions
| Trading Conditions | Hotbit | PaxFul |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
Hotbit |
Paxful |
Max Leverage (Futures) |
44562 |
1:1 |
Number of Markets |
1500+ |
100+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, Fiat currencies |
BTC, USDT, ETH, 100+ fiat currencies for exchange |
Hotbit vs PaxFul: Fees
Trading Fees
| Fee | Hotbit | PaxFul |
|---|---|---|
Max Maker |
-0.05% |
1% for sellers, 0% for buyers |
Max Taker |
0.65% |
1% for sellers, 0% for buyers |
Min Maker |
-0.5% |
1% for sellers, 0% for buyers |
Min Taker |
0.20% |
1% for sellers, 0% for buyers |
Debit/Credit Card Purchase Fee |
Not supported |
1% for sellers, 0% for buyers |
Futures Trading fees
| Fee | Hotbit | PaxFul |
|---|---|---|
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 | PaxFul |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
Not supported |
1% for sellers, No for buyers |
Debit/Credit Card Withdrawal Fee |
1% for sellers, No for buyers |
|
BTC Withdrawal Fee |
0.001 BTC |
0.0004 for sending BTC, 0 for recieving BTC |
Inactivity Fee |
No |
Hotbit vs PaxFul: Trading Assets
| Asset Name | Hotbit | PaxFul |
|---|---|---|
Overall |
1500+ |
3 coins |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
No |
Dogecoin (DOGE) |
Yes |
No |
Binance Coin (BNB) |
Yes |
No |
Uniswap (UNI) |
Yes |
No |
Ripple (XRP) |
Yes |
No |
Polkadot (DOT) |
Yes |
No |
Cardano (ADA) |
Yes |
No |
Stellar (XLM) |
Yes |
No |
IOTA (MIOTA) |
Yes |
No |
Tron (TRX) |
Yes |
No |
Derivatives (Futures) |
No |
No |
NFT |
Yes |
No |
Crypto ETF |
Yes |
No |
Hotbit or PaxFul: Investment Programs
| Asset Name | Hotbit | PaxFul |
|---|---|---|
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. |
Paxful earn |
Trading Platforms: PaxFul or Hotbit
| Hotbit | PaxFul | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: PaxFul or Hotbit
| Hotbit | PaxFul | |
|---|---|---|
SMS Based 2 FA |
Yes |
Yes |
App Based 2 FA |
No |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
No |
Filters |
Yes |
No |
Technical Analysis: PaxFul or Hotbit
| Hotbit | PaxFul | |
|---|---|---|
Indicators |
Yes |
not supported |
Drawing tools |
Yes |
not supported |
Historical Trades |
Yes |
not supported |
Live 2 Quotes |
No |
not supported |
Mobile trading: PaxFul or Hotbit
| Hotbit | PaxFul | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: PaxFul or Hotbit
| Hotbit | PaxFul | |
|---|---|---|
Market |
Yes |
No |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
No |
Stop Limit |
Yes |
No |
Trailing Stop |
No |
No |
Hotbit vs PaxFul: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Hotbit | PaxFul |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
Hotbit vs PaxFul: Research
| Research Type | Hotbit | PaxFul |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
No |
No |
Chart Analysis |
No |
No |
Trading Ideas |
NO |
No |
E-Mail Reports |
No |
No |
Hotbit vs PaxFul: Education
| Education Type | Hotbit | PaxFul |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
No |
Yes |
PaxFul vs Hotbit: Support
| Support Features | Hotbit | PaxFul |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
Hotbit vs PaxFul: Crypto Bonuses and Promo
| Promo | Hotbit | PaxFul |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
No |
Up to 50% of refferall trading fees |
|
Your capital is at risk.
|
Top 5 Reviews on PaxFul
-
Comment
My experience with Paxful has been negative, marred by unreliable customer support, security concerns, and high fees. The lack of protection for users' assets is unacceptable and undermines trust in the platform as a safe and reliable marketplace for buying and selling cryptocurrencies. As a client, I cannot in good conscience recommend Paxful to others, and I would advise anyone considering using the platform to proceed with caution and explore alternative options that offer a more reliable and user-friendly experience.
-
Comment
I opened a mini account in this scam, worked out a strategy and what a blessing that I first decided to test the withdrawal technology before opening a normal trading account. Now I put everything that was there on the withdrawal, namely $ 500! They can't even return the money!
-
Comment
Initially, I did not plan to trade on Paxful for a long time, it was interesting to try and compare the conditions with my then exchange. I registered, quickly passed the verification (so that, if anything, quickly withdraw the deposit) and replenished the account. There is no demo, but it is not needed with such and such minimum requirements: just a dollar is enough to deposit. On the plus side, there are many ways to replenish. But the base currency here is XBT, and I had to get confused. In terms of trade - an average option. I would not say that Paxful is very different from its competitors. There are really no analytics, and trading here is mainly due to three cryptocurrencies. Three! I won’t say that Paxful is a bad exchange, but I didn’t find anything interesting here for myself.
-
Comment
I support positive reviews about Paxful. The first thing that caught my eye when visiting this P2P platform is an intuitive interface, presented in 21 languages. This means that the company is open to cooperation with traders from different countries. And now, 2 years after registering on this site, I understand that the first impression was not deceptive. I am satisfied with the cooperation with the Paxful exchanger, if not for 100%, then for 99% for sure. Trading here is comfortable, there are no technical failures, so the execution of transactions is always on top. Honestly, I'm not surprised that the pool of buyers/sellers on Paxful is growing every day.
-
Comment
Paxful simply does not fail you. I registered on this exchanger following a recommendation from a friend. To be honest, I wouldn't have noticed it myself. It does not appear in the leaders, the trade turnover is quite modest. Well, it is understandable, only three cryptocurrencies were listed - bitcoin, ethereum and tezer. When I started working with this P2P platform, I realized why it was being praised. There is a really large pool of buyers and sellers here (according to rumors, the services of this crypto exchange are used by about 12 thousand people). At first, I traded on Paxful and on other platforms at the same time, but now I completely abandoned them.
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.