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Hotcoin Global Review – Is Hotcoin Global Scam or Legit?

Hotcoin Global Exchange Rating
Conclusion
Read our Hotcoin Global review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this Hotcoin Global review before you sign up with the exchange.
Account Types
8.8
Trading Speed
9.3
Customer Service
9.1
Safety
9.4
9.2

Hotcoin Global Review

Hotcoin Global logo

This Hotcoin Global review focuses on Hotcoin Global, a digital asset trading platform that operates on a global scale. Hotcoin Global is headquartered in Sydney, Australia. AUSTRAC has given them dual company licenses for digital currency trading and foreign currency exchange.

Hotcoin Global focuses on blockchain technology and digital asset exchange trading services to provide safer, easier, and faster digital asset exchange trading services to global users. They are committed to developing the world’s leading trading platform. It is one of the largest global customer growth service platforms, with its goal of establishing a “globalization, transparency, and service-leading” brand in the blockchain asset service sector.

Pros   

  • The interface is responsive and well-suited to trading
  • The fees charged are relatively low.
  • There are various cryptocurrencies supported.
  • Registration is effortless and straightforward.
  • The withdrawal fees are fair.

Cons

  • Only a few languages are supported.
Exchange platformHotcoin Global
Websitehttps://www.hotcoin.top/
Variety crypto  73
Account neededYes
VerificationMandatory
Verification levels2
Trading PlatformMobile Application, Web-based
Payment MethodWire transfer, Crypto Conversion, Bank transfer
Customer SupportTwitter, Phone, Email

What is Hotcoin Global?

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).

Hotcoin Global website

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.

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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.

Features & Services

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.

Hotcoin Trading View

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 Global Trading Services

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.

Options and Order types

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.

Hotcoin Global Fees

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.

Withdrawal and Deposit Fees

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.

Leveraged Trading

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.

User Interface

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.

What Can Hotcoin Global Add to Become Better?

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.

Is Hotcoin Global Safe?

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.

Customer Support

Hotcoin has a detailed Help Centre with guides and FAQs to help beginners get started. Topics covered in this section include:

  • Hotcoin account login and verification 
  • Account security and 2FA activation
  • Depositing AUD to the platform
  • Withdrawing funds to a bank account
  • Sending and receiving coins
  • Buying and selling on the exchange

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.

Is Hotcoin Global a scam?

Hotcoin is one of the biggest leveraged trading sites for Bitcoin and some altcoins, so its large user base and internal liquidity are not fraudulent. Of course, comments and accusations by random Internet users can be found. But, it is a trustworthy network with a high level of security that is rapidly establishing itself as a market leader in the leverage trading market.

All in all, there are many reasons to be cautious, but as you become more acquainted with the site, you will realize how intense the situation is.   When a trading site, such as Hotcoin Global, provides a fantastic tool with 100x leverage, some people tend to be suspicious. When you read about the outstanding achievements of traders who have made it big, it sounds unbelievable.

Conclusion

Hotcoin Global, based in Australia, is a centralized crypto asset trading platform. It was released in 2019. This platform supports 67 pairs of Spot trading pairs and 122 pairs of unverified trading pairs. This platform has average liquidity, with the highest volume in the BTC/USDT trade. This platform does not accept fiat currency and instead uses USDT, which is a stable currency for trade stability. This currency is used in the majority of transactions. In this platform, taker and maker fees are both 0.2 percent. This is a trading commission that is equivalent to the average market rate. Withdrawal fees are based on the blockchain’s standard 0.002 per coin, which fluctuate throughout the market.

Frequently Asked Questions

  • Is Hotcoin Global an Australian Crypto Exchange Platform?

Hotcoin is a Sydney-based Australian cryptocurrency exchange. Because of its strict adherence to local regulations and rules, the exchange is often referred to as “Australia’s most trusted exchange.”

  • Is Hotcoin Global a legitimate exchange platform?

Hotcoin seems to be a legal cryptocurrency exchange in Australia, with thousands of users. According to Australia’s current Counter-Terrorist Financing and Anti-Money Laundering regulations, the exchange is controlled and AUSTRAC.

  • Has Hotcoin Global been hacked before?

Since its inception as a cryptocurrency exchange in 2013, Hotcoin has never been compromised or hacked. The exchange employs stringent security measures to safeguard its users’ funds and information from malicious hackers and theft. Hotcoin Global is among Australia’s first cryptocurrency exchanges to be accredited by ISO for information security.

  • Is Hotcoin a Wallet?

Hotcoin comes with a secure online wallet where you can store your recently purchased cryptocurrencies. This wallet allows you to send and receive coins from other exchanges or a digital wallet. The Hotcoin wallet is simple to use and an excellent way for newcomers to keep their coins safe.

  • Is Investing SMSF Possible in Hotcoin Global?

Australians who want to use their Self Managed Super Funds (SMSF) to purchase cryptocurrencies such as Bitcoin, Ethereum, Ripple, and so many others can open a Hotcoin account.

  • What Exchange Platform Does Hotcoin Global Use?

Hotcoin is a centralized crypto exchange platform that utilizes its order books and liquidity to help users buy, sell, or trade digital assets through the ‘Market’ platform. The exchange does not make available to the public details on daily trading volume or its liquidity.

Hotcoin Global Exchange Rating
Conclusion
Read our Hotcoin Global review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this Hotcoin Global review before you sign up with the exchange.
Account Types
8.8
Trading Speed
9.3
Customer Service
9.1
Safety
9.4
9.2

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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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