| Exchange platform | Hotcoin Global |
| Website | https://www.hotcoin.com |
| Variety crypto | 73 |
| Account needed | Yes |
| Verification | Mandatory |
| Verification levels | 2 |
| Trading Platform | Mobile Application, Web-based |
| Payment Method | Wire transfer, Crypto Conversion, Bank transfer |
| Customer Support | Twitter, Phone, Email |
Hotcoin Global is a cryptocurrency exchange based in Sydney, Australia. It was unveiled in 2017. Hotcoin Exchange manages the platform as well as two separate AUSTRAC licenses to perform its operations (FX and digital currency trading).
The platform outlines four features in particular. First, they claim to be stable and secure. Then, they claim to have a simple and straightforward fiat currency deposit and withdrawal method. Also, the platform regularly offers promotions and discounts. Finally, it has a customer-focused service center that prioritizes platform users. We believe that all of these features are important, but we are yet to confirm all of them.
According to Coinmarketcap, the platform’s 24-hour trading volume is USD 13.1 billion as of today. This is an incredible trading volume, and we are really thrilled that Hotcoin Global has achieved these feats in such a short time.
Hotcoin is one of the country’s first Bitcoin and cryptocurrency exchange, to have extended its core service to include network features such as:
• Designed with a user-friendly interface for all investors.
• Instantly buy and sell cryptocurrency in a few minutes.
• Over 73 cryptocurrency coins available for buyers and sellers.
• High standard of security features to reduce account theft.
• Exchange platform with Trading View charts and sophisticated order types.
• Over-the-Counter desk support for Australian Super Fund investors.
• ISO Accreditation for security and Industry-leading security processes.
• 2-Factor Authentication to protect accounts from theft and hackers.
• An affiliate program that rewards 30 percent of commissions for referred users.
You can find a trading view on the trading platform. This is where you can display a crypto price chart as well as the current price. There are, usually, boxes for buy and sell in which you can place orders for the relevant cryptocurrency. Most platforms would also enable you to access the order history (i.e., past transactions featuring the relevant crypto) — all in the same view on your screen. Of course, there are variations to what we have just mentioned. It is entirely up to you – and only you – to determine if the above trading view is right for you. Finally, there are several ways to modify the settings to customize the trading view to your tastes.
Hotcoin allows you to trade in over 73 different cryptocurrencies. On this website, you can trade many major cryptocurrencies as well as a few minor ones, and the exchange is constantly adding new cryptocurrencies. Hotcoin Global’s services are available on the go through a smartphone app. The Hotcoin app can be downloaded from both the App Store and Google Play. We are unsure if Hotcoin Global accepts US investors. We read their Terms and Conditions and found no explicit prohibition against US investors. However, we strongly advise any US investors to shape their own opinion on the legality of their trading at Hotcoin Global.
Hotcoin, as a diversified platform, has a variety to give from crypto to fiat currencies. You can trade and exchange BTC, ETH, BCH, LTC, DASH, XRP, BAT, and many other cryptocurrencies. The Hotcoin platform only offers the basic feature of direct buying and selling of different assets; advanced order types such as OCO are unavailable. The exchange’s primary goal is to provide fast and direct access to crypto-crypto exchange or crypto-fiat exchange. Hotcoin Global Exchange offers a full suite of advanced instruments, albeit with a more restricted trading pair range.
The crypto exchange charges you a trading fee each time you place an order. The trading fee is usually a percentage of the trade order’s value. Many exchanges distinguish between makers and takers. Takers are individuals who “take” and place orders from the order book.
Hotcoin Global charges flat rates; this means that all takers and makers pay the same amount. In this instance, the fee is 0.20 percent. These flat fees are comparable to, or slightly higher than, the global market averages for centralized exchanges. The most significant and most recent analytical report on the average crypto market trading fees discovered a 0.217 percent average spot trading taker fee. The equivalent spot trading maker fee was 0.164 percent. As you might remember, they are both set at 0.20 percent here. As a result, Hotcoin Global’s trading fees are marginally lower than average for takers and slightly higher than the average for makers.
Hotcoin Global charges a fee of 0.0005 BTC for each BTC withdrawal. Globally, the industry average is 0.000643 BTC for each BTC-withdrawal; the report is the most recent such report published on the topic to our knowledge. As a result, the withdrawal fees paid by this platform are fair.
To begin trading here, you must have cryptocurrency. Cryptocurrency is the only asset class that can be deposited into Hotcoin Global. Suppose you really like Hotcoin Global but don’t have any crypto yet? In that case, you can easily open an account with an exchange that has “fiat on-ramps” (an exchange platform where you can deposit daily cash), buy cryptocurrencies there, and then move it to this exchange.
Hotcoin Global lets you trade with leverage on its crypto derivatives products. This means you can gain greater exposure to a specific cryptocurrency’s price fluctuation without necessarily owning the required assets. This is accomplished by “leveraging” your trade. In layman’s words, this implies that you borrow money from the exchange in order to bet more. We are unsure how much leverage you can receive on this platform.
Leveraged trades, on the other hand, are risky. Assume you have $200 in your trading account and decide to put a wager on BTC going long (going up in value), you would have received $20 if the value of BTC increased by 10%. If you had utilized 100x leverage, your initial $200 investment would have accumulated to a $20,000 stake, earning you an extra $1,000, or $990 more than if you had not already leveraged the trade.
The more your leverage, though, the closer you are to your liquidation price. This means that if the price of BTC falls in the other direction, i.e., down, in this case, you will only lose a small fraction of your original $200 investment. Again, the more leverage you use, the less the opposite price movement must be for you to lose your investment. Consequently, the risk-reward equilibrium in leveraged transactions is extraordinarily fine-tuned, i.e., there are no risk-free returns.
Hotcoin’s fiat Gateway has a modernized and streamlined user interface for those who do not want to deal with complicated menus and instruments. From the dashboard, you have direct access to anything you need to deposit, display your portfolio, and access various asset tabs.
A complete view of your portfolio and fiat wallet can be found at the bottom of the dashboard. The design is beginner-friendly, with the aim of quick and easy buying and selling. The dashboard displays a simple asset chart as well as details about your holdings. It allows you to set a percentage price change or a target price when you open a price alert. When the set target is met, you will be informed via email.
Hotcoin Global Exchange has an entirely new and much more sophisticated interface to provide a suitable trading platform for institutions and professionals. The layout is known for advanced trading platforms, having an order tab on one side, a detailed chart, an order book, and markets on the other. This addition fosters an atmosphere conducive for extended trading sessions.
Given that you have so much in one spot, it can be pretty tricky for you if this is your first time trading on this kind of platform. But do not be bothered. You will get the hang of it after a few trading sessions. Everything is there for a specific reason. Every piece of information is required, and for a successful trading session, you will need as much information as possible. The more knowledge you acquire, the more information you will require because you will realize how relevant it is for trading.
The advantage of leverage trading platforms such as Hotcoin Global is that everything is designed with the goal of being able to act accordingly quickly. Real-time position adjustment is critical for a trader because the market can change quickly, particularly in a market like Bitcoin, the world’s scarcest asset. Hotcoin Global’s interface is good enough for professional traders who trade regularly.
Adding more crypto pairs expands the possibilities. Traditional assets, such as stocks, global stock indexes, and forex can always be added. The most sensible thing to do would be to add more BTC crypto pairs; the crypto pairs are currently only against USD. Consider having the opportunity to trade ETHBTC with high leverage against BTC value. This will help add depth to the trading sessions on Hotcoin Global, resulting in a higher potential profit. Hotcoin Global needs to improve in this field to have more trading options.
Hotcoin has fairly standard methods for safeguarding users’ accounts. Two-factor authentication (2fa), email alerts, and a white list of withdrawal addresses are among the methods available. 2fa adds an extra layer of security. Anyone attempting to access or withdraw funds from an account would need to provide a one-time password that is created locally on the account owner’s mobile device and is valid for only 30 seconds.
Hackers would be unable to steal money as long as they do not have access to the account owner’s mobile device. When activated, email alerts notify users whenever their account is opened from a new IP address. A whitelist of withdrawal addresses prevents funds from being withdrawn to addresses that are not on that list. If hackers gain access to the account, they would be unable to withdraw funds. For technical reasons, some currencies are not always available on the platform. You can still see which coins are temporarily suspended by using a system monitor.
Hotcoin has a detailed Help Centre with guides and FAQs to help beginners get started. Topics covered in this section include:
Users who cannot find assistance in the FAQ section can contact the support team via the help button in the lower right corner. The widget functions similarly to a form in that a particular question can be asked and replied to by the Hotcoin support team. You can get a response from the customer service team in less than 24 hours on a business day.
Australia-based Hotcoin Global is a controlled marketplace for trading crypto assets. It came out in 2019. This site supports 122 unconfirmed trading pairs in addition to 67 pairs of spot trading pairings. The BTC/USDT trade on this platform sees the highest volume and average liquidity. Instead of using fiat money, this platform uses USDT, a stable currency for trading stability. The majority of transactions are conducted in this currency. Taker and maker fees on this platform are both 0.2 percent. This trading commission is equal to the going rate in the market. The blockchain’s regular withdrawal cost of 0.002 per coin varies according to the market.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
This website uses cookies.
