Because most big cryptocurrency exchanges currently have a lot more or less, this is an interesting topic Is Hotbit legit or a scam? Traders, however, will need to reevaluate their strategies in the case of a newly established cryptocurrency broker in addition to the number of small and minor currency pairs. To be more specific, traders can choose among 1952 different currency pairs on this exchange.
Address of the website: www.hotbit.io
Launch date: 14-01-2018
You can trade between up to 819 different pairs of virtual currencies with this exchange. This is a huge floor. The overall trading volume on the exchange for the past twenty-four hours totaled 192,723,814 USD, placing it at position 98 out of the 503 active cryptocurrency exchanges. Sometimes, several small brokers are founded exclusively for trading, blowing prices, and manipulating a handful of their cryptocurrencies. This can happen for several different reasons. Scams involving initial coin offerings (ICOs) and illegal fundraising have recently shared many traits.
In addition to the limited number of trading currency pairings, the website of the Hotbit exchange is another indicator that may be used to determine whether or not the Hotbit exchange is fraudulent. The address of the Hotbit website is www.binance.com. Is it a brand-new domain name, or has it already been active for a considerable time? Website rankings that are high or low? Which parts of the world do these guests hail from? Suppose most visitors are from your home country, but the site’s material is written exclusively in another language. In that case, you need to exercise extreme caution because this exchange for virtual currencies may be a ruse to fool Vietnamese investors.
Checking the traffic to the Hotbit website via the following link, https://www.alexa.com/siteinfo/www.hotbit.io, will allow you to keep an eye on the following issues:
– If most of the Hotbit floor’s visitors are from your nation (as indicated by the Visitors by Country graph). Yet, the website interface material is written entirely in English (or uses English as the default language), so you should exercise caution.
– If the Alexa Rank (Global Rank) of the Hotbit floor is not in the top 50,000, this demonstrates that this floor is relatively small, that the number of visitors is limited, that there are not many investors participating, and that the short-term risk is highly liquid. Low, long-term risk includes low floor turnover, cheap assets that cannot be withdrawn and turn into fraud, or easily used as a manipulator to boost garbage coin values. Despite these factors, the risk is still modest.
Trading cryptocurrencies successfully requires a strong grasp of psychological concepts. You should open accounts at significant exchanges that have a good reputation, such as the Hotbit exchange so that you can trade with complete peace of mind (the most popular cryptocurrency exchange in the world due to its size, speed, and liquidity).
Over the past three years, Hotbit’s user base has expanded rapidly. In addition, the exchange guarantees ongoing improvements to the platform to fulfill the needs of today’s traders. Check out the review of the Hotbit exchange above to learn more about how the platform values individuality in its users.
