What Is Crypto Exchange ?
A cryptocurrency exchange, often known as a crypto exchange, is a marketplace where users can purchase, exchange, and trade different cryptocurrencies. These marketplaces enable the trading of cryptocurrencies for fiat money (conventional money such as US Dollars, Euros, etc.) or the conversion of one cryptocurrency into another.
Pairs of cryptocurrencies are traded, for example, BTC/USD or ETH/BTC. This indicates that you are trading one cryptocurrency for a different one or for fiat money. Market orders can be placed by users to purchase or sell a cryptocurrency at the going rate.
Additionally, they have the option of using limit orders, which only execute when the market hits the desired price they designate.
All of the buy and sell orders for a specific cryptocurrency are listed in an order book. It displays the purchase and sell orders, along with their corresponding prices and quantities, in the form of bids and asks.
What Is Hotcoin Global Crypto Exchange ?
Operating out of Australia, Hotcoin Global is a digital asset trading platform. The obtained two different licenses to conduct its operations from AUSTRAC: digital currency trading and foreign currencies exchange. As of 2022, the centralized cryptocurrency exchange (CEX) had an estimated 5 million active users, with its daily transaction volume reaching billions of dollars.
Hotcoin Global Crypto Exchange Quick Facts
Exchange Name | Hotcoin Global |
Exchange Service | Spot and futures trading |
Exchange Launch Year | 2017 |
Made In | Sydney, Australia |
Mobile App | Android & IOS |
Fiat Option | Available |
KYC | Required |
2FA Security | Available |
Referral Program | Not Allowed |
Support | Email & Live Chat Option Available |
Official Website | Click Here To Visit |
How To Register At Hotcoin Global Exchange ?
To register on Hotcoin Global, 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.
Hotcoin Global Exchange Supported Countries
Hotcoin Global 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 Hotcoin Global.
How To Verify Your Hotcoin Global Cryptocurrency Account ?
There is no mandatory verification at Hotcoin Global , 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 Hotcoin Global, Revolut platforms.
How To Buy Crypto Or Deposit Crypto At Hotcoin Global Crypto Exchange?
There are two main options for topping up your balance on Hotcoin Global. 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 Hotcoin Global 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 Hotcoin Global Account ?
There are several steps you can take to help secure your Hotcoin Global account and protect your funds:
- Use Strong Passwords : Use complicated passwords using a combination of upper- and lowercase letters, digits, and special characters to create strong passwords. Useless information like names or birthdays should be avoided.
- Enable Two-Factor Authentication (2FA) : If the platform enables it, turn on two-factor authentication (2FA). By forcing you to supply an additional piece of information (often from your smartphone) in addition to your password, this offers an additional degree of protection.
- Phishing Alert: Be wary of emails, texts, or links that request your account information or personal details. Before clicking on links or sending critical information, always double-check the source.
- Maintain applications Updates: Make sure your web browser, operating system, and any security applications are all current. Important security patches are frequently present in updates.
- Use Secure Devices and Networks : Avoid logging into your Hotcoin Global account from unsecured or public Wi-Fi networks by using secure devices and networks. To lessen the risk of unwanted access, use reputable hardware and secure communications.
- Use a Reputable Wallet: If Hotcoin Global is a cryptocurrency platform, store your cryptocurrencies in a trustworthy and safe wallet. Online wallets are typically thought to be less secure than hardware wallets.
- By taking these steps, you can help protect your Hotcoin Global account and reduce the risk of unauthorized access to your funds.
Fees taken when buying virtual currency
Hotcoin Global Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.
Hotcoin Global charges what we call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee is 0.20%. These flat fees are quite in line with, or slightly above, the global industry averages for centralized exchanges.
Hotcoin Global Withdrawal fees
Hotcoin Global charges a withdrawal fee of 0.0005 BTC per BTC-withdrawal. The current global industry average is 0.000643 BTC per BTC-withdrawal according to this report, which is the latest such report prepared on the subject to knowledge. Accordingly, the withdrawal fees charged by this platform are competitive.
Deposit Methods
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Hotcoin Global is cryptocurrency. However, if you really like Hotcoin Global but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange.
How To Contact Hotcoin Global Customer Support Team?
If you need help with your Hotcoin Global account or have any questions, you can contact Hotcoin Global customer support through the following methods:
Visit their Official Website : The company’s official website Start by going to Hotcoin Global’s official website, if there is one. On their website, look for a “Contact Us” or “Support” option.
Email: Verify if they offer a customer service email address. This information may be found on the “Contact Us” tab.
Phone: Lookup the number for customer service. This is frequently listed in the footer or on the website’s contact page.
Live talk: Some businesses let you talk with a customer service agent in real time through live chat assistance on their website.
No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Hotcoin Global customer support can assist you efficiently.
Features Of Hotcoin Global Crypto Exchange
The world’s leading
Various crypto assets & derivatives for trading, one-stop crypto assets comprehensive service platform
Stable & Secure
Offline storage methods; Multi-encryption management; A 24/7 service for comprehensive protection of user assets all year round
Easy to use
A trusted choice for users from different countries and regions worldwide, with multi-language options for fast and easy crypto asset trading at anytime, anywhere.
Ultimate service
Adhering to the “customer-oriented”, Establishing service offices in several countries and regions, offering 7/24 hours super online service for a instant deposits & withdrawals .
Hotcoin Earn & Finance
HODL cryptocurrencies and play around with financial products to earn substantial returns. Reach more customers with Hotcoin Pay & receipt features.
Trading Options
A variety of order types, including market, limit, stop-loss, and others, let traders successfully implement their plans.
Mobile App
A lot of exchanges have mobile trading apps, which are especially helpful for busy traders.
Customer service
Quickly responding customer service assists people in resolving problems and receiving responses to their inquiries.
Regulation and Compliance
Reputable exchanges frequently follow legal regulations and adhere to regulatory standards to safeguard users from fraud.
Hotcoin Global Good Or Bad Points
Hotcoin Global is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Hotcoin Global :
Good points:
- Innovation: Hotcoin Global may advance the general advancement and uptake of the technology if it introduces novel and cutting-edge features, applications, or technologies into the blockchain or cryptocurrency market.
- Global Accessibility: If Hotcoin Global succeeds in its goal of being available to everyone, it might support financial inclusion and give those with restricted access to conventional banking institutions an opportunity to engage in the digital economy.
- Decentralization: If Hotcoin Global is intended to be decentralized, it may lessen the amount of power held by one organization over the network, so boosting security, censorship resistance, and participant trust.
- Security: By putting strong security measures in place, Hotcoin Global might shield user funds and transactions from nefarious parties.
- Transparency: A project that is transparent can encourage community and possible investors’ trust by having open-source code, visible development updates, and a well laid out roadmap.
Bad points:
- Lack of Regulation: Hotcoin Global may encounter legal difficulties and uncertainties that could have an impact on its long-term existence if it operates in a legally gray area or fails to comply with regulations.
- Scalability: It can be difficult for some blockchain networks to grow in order to handle a huge volume of users and transactions. Hotcoin Global may experience delayed transactions and high fees during periods of heavy usage if scalability is not adequately addressed.
- Security worries: If Hotcoin Global’s code has flaws or there are security breaches, user funds may be at danger, which could harm the project’s image.
- Lack of Use Cases: Hotcoin Global may have trouble gaining adoption and value over time if it doesn’t offer practical use cases or functionality.
- Market volatility: Hotcoin Global may undergo substantial price fluctuation, similar to other cryptocurrencies, which could result in investment losses for individuals who aren’t ready for the risk.
Is Hotcoin Global Is Safe Platform To Trade ?
Verify the platform’s compliance with applicable laws and licensing requirements in the country where it is being used. Regulatory control can offer some degree of consumer protection. Look for details on the security procedures used by the platform. Two-factor authentication (2FA), cold storage for the majority of the cash, and frequent security audits are a few qualities that it ought to have.
Look up user comments and reviews online. Pay attention to any platform-related problems or occurrences that have been reported. Exercise caution because not all reviews may be accurate. A trustworthy platform should be clear about its personnel, ownership, costs, and usage policies.
In the event that you run into any problems or have inquiries about the platform’s offerings, adequate customer assistance is essential. Make sure the trading platform has enough liquidity and a selection of trading pairings for the assets you want to trade.
Users that utilize trustworthy platforms frequently have access to instructional materials that help them better grasp the advantages and disadvantages of trading cryptocurrency. Watch out for phishing scams. Be careful to avoid falling for fraudulent websites that might steal your information and visit the legitimate website instead.
Hotcoin Global Conclusion
A platform for trading digital assets is called Hotcoin Global. The company received two separate licenses from AUSTRAC to carry out its business activities: dealing in digital currencies and exchanging foreign currencies. The centralized cryptocurrency exchange (CEX) handled billions of dollars worth of daily transactions as of 2022, with an estimated 5 million active users.
FAQ
What is Hotcoin Global Crypto Exchange?
You may buy, sell, and trade a number of cryptocurrencies on the safe and user-friendly online platform known as Hotcoin Global Crypto Exchange.
How do I create an account on Hotcoin Global?
Visit our website and click the “Sign Up” button to create an account on Hotcoin Global. Give the requested details as directed and confirm your email address.
Is my personal information safe on Hotcoin Global?
Yes, maintaining your privacy is our top priority. To protect your data, we use cutting-edge security techniques including two-factor authentication and encryption.
Which cryptocurrencies can I trade on Hotcoin Global?
A broad variety of cryptocurrencies are available for trading on Hotcoin Global, including well-known ones like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and others. The whole list of cryptocurrencies that are accessible is provided on our platform.