BitHash Crypto Exchange Review : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, also known as a crypto exchange, is a digital platform that allows users to buy, sell, and trade various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others for other cryptocurrencies or fiat money such as US dollars or euros.

A cryptocurrency exchange operates in the same way that a regular stock market does, allowing buyers and sellers to swap securities. Users on a crypto exchange, on the other hand, trade digital currencies rather than stocks.

To facilitate trades, cryptocurrency exchanges provide a variety of trading pairs as well as features such as market and limit orders, stop-loss orders, and other trading tools. Some exchanges additionally offer other services such as digital wallets for storing cryptocurrency and real-time market data.

There are many types of crypto exchanges, including centralized exchanges, decentralized exchanges, and peer-to-peer exchanges. Each has its own unique features and benefits, but all provide a way for users to access and participate in the cryptocurrency market .

What Is BitHash Crypto Exchange ?

BitHash Cryptocurrency Exchange was established in 2016 in Singapore with more than 100 pairs available for trading cryptocurrency – Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Dash (DASH), EOS (EOS), TON Coin (TON), Monero (XMR), Ripple (XRP), Zcash (ZEC). BitHash Exchange is operated by PHOENIX TRADING SOLUTIONS LTD, a licensed company incorporated under the International Business Companies Act of 2016 of the Republic of Seychelles with company number 214028.

BitHash Crypto Exchange Quick Facts

How To Register At BitHash Exchange?

To register on BitHash , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

BitHash Exchange Supported Countries

BitHash Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on BitHash .

How To Verify Your BitHash Cryptocurrency Account ?

There is no mandatory verification at BitHash but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the BitHash , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At BitHash Crypto Exchange?

There are two main options for topping up your balance on BitHash Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From BitHash Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your BitHash Account ?

There are several steps you can take to help secure your BitHash account and protect your funds:

1. Turn on Two-Factor Authentication (2FA): This is one of the most important security precautions. Enable two-factor authentication on your BitHash account by using an authenticator app such as Google Authenticator or a physical security key. This adds an extra degree of security by asking you to enter a one-time code along with your password when checking in.
2. Use a Strong and Distinctive Password: Make a strong, complex password using upper and lower case letters, numbers, and special characters. Avoid using information that is easily guessed, such as birthdays or common terms. Use a password manager to securely generate and store your passwords.
3. Keep Your Password Up to Date: Change your BitHash password on a regular basis, and never reuse passwords across platforms. Updating your password lowers the likelihood of unauthorized access.
4. Check the URLs of Websites: Before logging in or entering any sensitive information, always double-check that you are on the official BitHash website (https://www.bithash.net). Phishing websites may look just like the actual thing in order to obtain your login information.
5. Avoid Phishing Emails: When you receive emails purporting to be from BitHash, be wary. Clicking on links or downloading attachments from questionable emails should be avoided. Genuine bitcoin exchanges will never request your password by email.
6. Protect Your Email Account: Make sure your email account is secure, as it is frequently used for password recovery and account notifications. Enable two-factor authentication for your email account as well.
7. By taking these steps, you can help protect your BitHash account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

BitHash Trading fees

This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something that we call a “flat fee model”. They have a flat trading fee of 0.10%. The industry average is arguably around 0.25% so these trading fees charged by BitHash are definitively competitive. That is even though the industry averages are steadily decreasing, and 0.10% – 0.15% are slowly becoming new industry averages.

BitHash Withdrawal fees

Over to the withdrawal fees then. These are also very important to consider. When withdrawing BTC, the exchange charges you 0.0005 BTC. This withdrawal fee is also far below the industry average (roughly 40% lower than industry average, arguably being 0.000812 BTC).

All in all, the fees charged at this exchange is a competitive advantage against most other crypto exchanges out there today.

Deposit Method

This trading platform accepts deposits via wire transfer as well as credit cards. This is very useful for newer cryptocurrency investors. The fact that fiat currency deposits are allowed at all makes this exchange a “entry-level exchange,” which means that novice investors can take their initial steps into the thrilling crypto realm.

Trade On Go BitHash Is 100% Mobile Friendly

It’s fantastic to know BitHash is completely mobile-friendly. Many traders who like to manage their bitcoin investments on the go require mobile accessibility. Users can access their accounts, check market prices, and make transactions from their smartphones or tablets, which provides ease and flexibility.

How To Contact BitHash Customer Support Team?

If you need help with your BitHash account or have any questions, you can contact BitHash customer support through the following methods:

Go to the Official Site: Go to the cryptocurrency exchange or service’s official website. Verify that you are on a legitimate website by confirming the URL and looking for symptoms of phishing.

Look for “Contact” or “Support” on the website: Most cryptocurrency platforms feature a “Contact” or “Support” link. This is often seen in the navigation menu or footer of a website.

Phone: BitHash also has a phone support line that you can call. The phone number for customer support

Social Media: Some exchanges also offer customer service via social media platforms such as Twitter or Facebook. You might also try contacting them through these ways.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that BitHash customer support can assist you efficiently.

Features Of BitHash Crypto Exchange

Available At Android & IOS Store

BitHash Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Convenient Payment Methods

BitHash accepts a wide range of payment methods, including UK bank transfers, debit cards, and credit cards.

Trading Pairs:

BitHash supports a wide range of trading pairs, including BTC, ETH, USDT, USDC, and more. This allows traders to access a variety of cryptocurrencies and trade them against each other.

Low Trading Fees:

BitHash charges low trading fees of just 0.03% for market makers and 0.07% for market takers. This makes it one of the most affordable exchanges on the market.

Mobile app

BitHash offers a mobile app for both iOS and Android devices, allowing users to access their accounts and trade.

User-friendly Interface

BitHash has a user-friendly interface that makes it easy for traders and investors to buy, sell, and trade cryptocurrencies. The platform is intuitive and responsive, allowing users to navigate it easily.

Fast transaction processing

BitHash offers fast transaction processing, with transactions being completed within seconds. This means that users can trade cryptocurrencies quickly and efficiently, without having to wait for long processing times.

High level of Security

BitHash has a high level of security, with features such as two-factor authentication, SSL encryption, and cold storage of funds. These security measures help to protect user funds and personal information from hacks and cyber attacks.

Wide range of cryptocurrencies

BitHash supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. This allows users to diversify their portfolios and trade a variety of cryptocurrencies on a single platform.

Fiat currency support

BitHash also supports various fiat currencies, including USD, EUR, and GBP. This allows users to deposit and withdraw funds in their local currencies, making it easier to trade cryptocurrencies.

Referral Program

BitHash offers a referral program that allows users to earn rewards for referring new users to the platform. This is a great way to earn additional income while also growing the BitHash user community.

API Integration

BitHash offers API integration, allowing developers to create custom trading bots and applications that can interact with the platform’s trading engine.

24/7 customer support

BitHash offers 24/7 customer support, with a dedicated support team that can assist users with any questions or issues they may have.

BitHash Good Or Bad Points

BitHash is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using BitHash :

Good points:

1. Innovation: BitHash may contribute innovation to the bitcoin or blockchain field if it provides a new technology or strategy, perhaps fixing existing problems or offering new possibilities.
2. Security: Examine the BitHash security features and methods. Strong security measures are essential in the cryptocurrency sector to guard against breaches and fraud.
3. Efficiency: Determine whether BitHash improves transaction speed, scalability, or energy efficiency, as these are critical elements in blockchain technology adoption.
4. Transparency: Determine whether BitHash improves transaction and data handling transparency, which is a basic principle of blockchain technology.
5. Community and Growth: A robust community and active development are both great indicators for any cryptocurrency or blockchain project. It denotes continued assistance and enhancements.

Bad points:

1. Scams & Fraud: Be wary of any scams or fraudulent bitcoin schemes. Conduct extensive study and confirm the project’s and team’s validity.
2. Regulatory Risks: Cryptocurrencies and blockchain technology face ever-changing regulatory contexts. Consider the regulatory risks of BitHash, especially if it operates in a murky area or lacks clear compliance.
3. Market Volatility: The price volatility of cryptocurrencies is well recognized. Be advised that there is a risk of substantial price changes with BitHash or any cryptocurrency.
4. Lack of Transparency: If there is a lack of transparency or information about BitHash, this can be a red flag. Cryptocurrency projects should provide detailed information about their technologies and objectives.
5. Competition: Take a look at the competitive environment. Are there any other well-known cryptocurrencies or blockchain technologies that have comparable or greater capabilities than BitHash?

Is BitHash Is Safe Platform To Trade ?

BitHash is a cryptocurrency exchange site where users may buy, sell, and trade different cryptocurrencies. While no exchange can guarantee complete security, BitHash has put in place a number of security measures to assist secure its users’ assets.

BitHash, for example, keeps the majority of its users’ cash in cold wallets, which are offline and not accessible via the internet. This makes stealing funds much more difficult for hackers. BitHash also employs two-factor authentication (2FA) to add an additional degree of security to user accounts.

It is crucial to note, however, that no exchange can guarantee total security, and there is always some risk associated in dealing cryptocurrencies. To secure your assets, you must conduct research, recognize the threats, and implement suitable security measures.

In summary, BitHash has taken several measures to enhance security, but it’s still important to be cautious and do your due diligence before trading on any platform.

BitHash Conclusion

In conclusion, BitHash is a cryptocurrency exchange platform that offers a variety of features and services to traders and investors. With its user-friendly interface, fast transaction processing, and high level of security, BitHash provides a reliable and efficient platform for buying, selling, and trading cryptocurrencies.

The platform supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, as well as various fiat currencies. BitHash also offers a referral program, API integration, and 24/7 customer support, making it a competitive and attractive option for both novice and experienced traders. Overall, BitHash is a solid choice for anyone looking to enter the world of cryptocurrency trading or expand their existing portfolio.

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