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RE: The SBD ($23.50) Market on CoinMarketCap is Out of Whack Due to HitBTC.

in #steemit6 years ago (edited)

DO NOT USE HITBTC.

I've used it in the past to take advantage of arb opportunities, but it just has too many issues:

Deposit fees

Not only do they deduct withdrawal fees, but also for depositing certain coins. And they're huge, IIRC I was paying 14 VEN to deposit there (which was something like $80 at the time, which I was only willing to pay because the arb was really really good)

Can only trade in incremental amounts

When I was trading VEN, I could only buy/sell 10 at a time, meaning sometimes I would be left with a small amount of them in my account, and withdrawing didn't make sense because the withdrawal fee was >10 VEN.

Withdrawal issues

When I finally went to withdraw my balance, I couldn't cash out BTC, so I traded it for BCH (they somehow have a large BCH/BTC market), but couldn't withdraw that either, so I exchanged it all for ETH (which may have taken two trades, I can't recall if they have a BCH/ETH market) and was finally able to withdraw. Naturally support didn't respond til a week later.

Add on top of this low liquidity, other troubles with withdrawing (sometimes they freeze certain coin wallets for indefinite amounts of time), and slow support response, and you have an exchange I'll never use again.

Coin Marketplace

STEEM 0.15
TRX 0.15
JST 0.028
BTC 53948.70
ETH 2245.46
USDT 1.00
SBD 2.29