Hotbit vs WazirX: Fees, Coins, Safety Comparison
| Feature | Hotbit | WazirX |
|---|---|---|
Overall |
3.8 |
3.8 |
1.8 |
3.0 |
|
4.1 |
4.1 |
|
5 |
4.5 |
|
Investment Instruments |
5 |
4.1 |
Platforms and Charting Tools |
4.1 |
3.7 |
Deposit and Withdrawal |
3.5 |
3.4 |
Research |
1.2 |
4.6 |
Education |
1.5 |
4.0 |
Support |
2.4 |
3.7 |
Bonuses |
1 |
3.1 |
|
Your capital is at risk.
|
Hotbit vs WazirX: 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 The commission for withdrawing funds by any of the methods is BTC 0.001 or the equivalent in the withdrawn currency.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 WazirX exchange is a cryptocurrency exchange and trading platform. The site offers such assets as Bitcoin, Ethereum, Ripple, Litecoin, and others. The WRX is the platform's proprietary token, which was created to draw attention to the site and is the essence of the cryptocurrency exchange ecosystem. You can exchange the WRX token for cryptocurrencies and other tokenized assets. The company has developed its own trading terminal with a high degree of protection. The terminal is provided in desktop and mobile versions. The system’s infrastructure can vary scale in a few seconds to meet a growing demand and ensure high transaction rates. It is a young Indian exchange that uses advanced technologies and offers comfortable trading terms.
| Hotbit | WazirX | |
|---|---|---|
| Overall Pros | Over 1500 supported coins | 2 FA Authentication |
| the simple and convenient trading platform | Low Minimum Deposit | |
| five investment solutions | Passive Income With Staking | |
| Negative maker's fee | Minimum maker fee $0 | |
| Leveraged ETF contracts | Indicators Available | |
| Derivatives, NFT Available | ||
| Strong Research | ||
| Overall Cons | Non regulated | No tier-1 Regulation |
| Successful hack attacks | Market and Trailing Stop orders are not available. | |
| US customers are not supported | Only 1 fiat currency supported – INR | |
| high taker's fee | Deposits and withdrawals via e-wallets are not available | |
| No Special Offers |
Hotbit vs WazirX: Safety and Regulation
| Regulated By: | Hotbit | WazirX |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
Hotbit vs WazirX: Trading Conditions
| Trading Conditions | Hotbit | WazirX |
|---|---|---|
Minimum Deposit |
$1 |
INR 100 ($1) |
Trading Platforms |
Hotbit |
Web, mobile |
Max Leverage (Futures) |
44562 |
1:1 |
Number of Markets |
1500+ |
236 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, Fiat currencies |
INR, 50+ Crypto |
Hotbit vs WazirX: Fees
Trading Fees
| Fee | Hotbit | WazirX |
|---|---|---|
Max Maker |
-0.05% |
0.2% |
Max Taker |
0.65% |
0.2% |
Min Maker |
-0.5% |
0 |
Min Taker |
0.20% |
0 |
Debit/Credit Card Purchase Fee |
Not supported |
- |
Futures Trading fees
| Fee | Hotbit | WazirX |
|---|---|---|
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 | WazirX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No for fiat deposit |
Bank Transfer Withdrawal Fee |
Not supported |
10 INR |
Debit/Credit Card Withdrawal Fee |
10 INR |
|
BTC Withdrawal Fee |
0.001 BTC |
- |
Inactivity Fee |
No |
Hotbit vs WazirX: Trading Assets
| Asset Name | Hotbit | WazirX |
|---|---|---|
Overall |
1500+ |
|
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 |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
Yes |
NFT |
Yes |
Yes |
Crypto ETF |
Yes |
No |
Hotbit or WazirX: Investment Programs
| Asset Name | Hotbit | WazirX |
|---|---|---|
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: WazirX or Hotbit
| Hotbit | WazirX | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: WazirX or Hotbit
| Hotbit | WazirX | |
|---|---|---|
SMS Based 2 FA |
Yes |
Yes |
App Based 2 FA |
No |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: WazirX or Hotbit
| Hotbit | WazirX | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
No |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
No |
Yes |
Mobile trading: WazirX or Hotbit
| Hotbit | WazirX | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: WazirX or Hotbit
| Hotbit | WazirX | |
|---|---|---|
Market |
Yes |
No |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
Hotbit vs WazirX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Hotbit | WazirX |
|---|---|---|
Bank Transfer |
No |
No |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
Hotbit vs WazirX: Research
| Research Type | Hotbit | WazirX |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
NO |
No |
E-Mail Reports |
No |
Yes |
Hotbit vs WazirX: Education
| Education Type | Hotbit | WazirX |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
No |
Yes |
WazirX vs Hotbit: Support
| Support Features | Hotbit | WazirX |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Hotbit vs WazirX: Crypto Bonuses and Promo
| Promo | Hotbit | WazirX |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
No |
50% of the trading fees paid by the referred user |
|
Your capital is at risk.
|
Top 5 Reviews on WazirX
-
Comment
WazirX boasts an extensive selection of cryptocurrencies. But the fee structure is disproportionately high compared to competitors, eating into profits and discouraging active trading. Hidden fees and unclear pricing models only add to the frustration, leaving traders feeling nickel-and-dimed at every turn.
-
Comment
Of course, they threw me beautifully at WazirX. At first everyone was so friendly. Filled them with money - immediately the attitude changed. And then they just did everything to drain my money. I do not recommend!
-
Comment
I can't call WazirX normal. They interfere with work, so it’s impossible to trade profitably. They leaked me a couple of times, I decided to leave. I withdrew the balance from the account for 2 months. I do not recommend trading with this company.
-
Comment
I decided to open a trading account with WazirX. I registered, and immediately the manager of this company called me. I didn't like his aggressive demeanor. I told him about it. In response, insults rained down. I immediately knew who I was dealing with. Didn't even make money.
-
Comment
This is my first time working with the Indian stock exchange, although I have heard that this country is actively developing in the field of technology. And WazirX seems to be a good exchange. Assets are popular, for the most part, except that you need to get confused with commissions, for some cryptocurrencies they are not very profitable. But the terminal is great! Clear, simple, I still have enough functionality, but we'll see. This is enough for my current level, but I think if I decide to increase volumes, I won’t stay at WazirX: it’s more pleasant to have bonuses at high volumes, which WazirX cannot offer. I recommend it for beginners and amateurs. There will be no problems with speed, replenishment and withdrawal. The rest is up to you and your work.
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.