Hey everyone,
So I had a bad experience with HitBTC recently and of course I thought I would share it, as all customers who have bad experience love to do.
The thing is, the experience involved a friend of mine who finally decided to get into crypto. We set up his account and mistakenly, he transferred the wrong coins into the wrong wallet. I was told by someone who did the same thing with Binance that Binance automatically put the coins into the correct wallet. However, when emailing about this issue with HitBTC, the response they gave was the following:
It can take up to two months for your deposit to be transferred back to the correct wallet and we will deduct $100 from your balance as a penalty.
Do you think this is a fair solution? I think that it would take them just as long to make the transfer as to write the email and there is no need for a $100 deduction, as they make their money on trading fees.
I would think that an exchange which already has reputation problems would make an effort to win some points on such an issue. Thoughts?
It should be fair as long as they have stated this in their terms and conditions beforehand. The fact is that it can definitely be a hassle for exchanges to transfer tokens back to the right wallet as their system was not built to expect these sort of incoming deposits.
But hey, at least they've offered you a solution which is to wait for 2 months and deduct $100, which is better than some exchanges which has strict rules of not being able to access your address for other tokens.
Next time, be more careful. These are the mistakes that deter people from using crypto, when if you actually use it properly it is way easier than bank transfers.
