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Author Topic: HitBTC Experience  (Read 61 times)
mnafta
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January 16, 2018, 08:11:59 AM
 #1

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. Cry

I would think that an exchange which already has reputation problems would make an effort to win some points on such an issue. Thoughts?

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Bitfort
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January 18, 2018, 06:25:59 PM
 #2

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. Cry

I would think that an exchange which already has reputation problems would make an effort to win some points on such an issue. Thoughts?



As long as the penalty is stated in ToS theres nothing to discuss. Nobody forced you to deposit.

I'm not saying it's reasonbale. But who knows what they have to do to get those coins back (maybe they have to breach or circumvent some internal regulations, investigate whether you are not lying ... etc.)
Some exanges even seize entire deposit if it's smaller than some given amount.

Again. If you were informed (and accepted ToS) you should not complain.

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January 18, 2018, 10:20:21 PM
 #3

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. Cry

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.

jayce
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January 19, 2018, 06:05:19 AM
 #4

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. Cry

I would think that an exchange which already has reputation problems would make an effort to win some points on such an issue. Thoughts?

Sometimes you must take a big lesson when you joining a new thing in your life. Well, I even thought they wouldnt respond your issue and give you back the coin, since thats fully your mistake. Like magneto said, I think thats a fair solution. I hope this thing wont make you to stay away from crypto world.

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akamit
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January 19, 2018, 06:52:40 AM
 #5

In my opinion, you should accept the offer and confirm them as soon as possible.
It is one of the rare case that an exchange responded in such matters, whereas peoples are starving for a response.

An example > https://bitcointalk.org/index.php?topic=2778047.0
After 62 days passed that mate is still waiting for the coins. I don't know if he had contacted Bittrex for a solution or not, but its more likely the case will end up without a solution.

Just don't waste any time, and confirm hitbtc that you hace accepted their offer.
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