Bitcoin Forum

Hello, does someone know if I need to give HitBTC verification documents for depositing ~ 1000 Euro via SEPA bank transfer? Also I'm wondering if verification documents are required for withdrawing purchased BTC to a wallet? I read 2000 Euro deposits per day are allowed but I can not imagine that those limits are conformable with the AML regulations. If someone has expierence with them please let me know. :)

Dear theuckel,

HitBTC customers are granted a "Limited" status when their bank account details are added. This status allows to make deposits/withdrawals of up to 2000 EUR a day, 10000 EUR per week (rolling frame). Cryptocurrencies are not subject to these limitations.
Verified customers are able to deposit/withdraw bigger amounts of fiat currencies.

Please do not hesitate to contact us at support@hitbtc.com if you have any inquiries.

Regards,
The HitBTC Team
https://i.imgur.com/zjFJEsL.png (https://hitbtc.com)

Sounds nice, but is not true.

As hitbtc.com simply de-verifies your bank account, so they do not have to pay you fiat and their support suggests to you that you buy crypto if you want to withdraw funds (at a hefty loss atm).

Ah -  and btw, if you insist on getting an aswer, better bring some patience because their "compliance manager" (probably Andrey Sevchenko from Ullus Corp) is on holiday.
mhm. sure.

Seems Hitbtc is experiencing quite a cold wind, and looking at their rating ("Trust: -4: -2 / +0 - Warning: Trade with extreme caution!") doesn't exactly make me feel safe using their service. Does anybody know if there are reasonable reasons for that negative judgement?

I'm looking for a place to exchange a little amount btc with zcash or monero, and hitbtc actually has been recommended along with other websites like e.g. shapeshift.io

Any hints or recommendations?

Thx & cheers

If you click through to their trust page, those ratings are from 2014 and 2015. I haven't used HitBTC myself, but I know a lot of people that use it and I rarely hear of any issues. That being said, your mileage may vary, and all of these altcoin exchanges should be approached with a healthy dose of paranoia. Don't risk more than you're willing to lose there. 


Whenever possible, I use a service like Shapeshift or Changelly over depositing to an exchange, trading and withdrawing. The process is much faster, and there is no possibility per their terms (at the moment) of withholding payments without KYC. Getting your account locked with funds inside and being forced to KYC is always a possibility on exchanges. Plus, the less time a third party holds your funds, the better, so Shapeshift and Changelly have the exchanges beat for a major currency like Zcash or Monero.