Hotcoin Global is a centralized cryptocurrency exchange based in Sydney, Australia. The exchange supports over 300 cryptocurrencies and provides spot and futures trading services to users all over the world.
Keep reading to find out more about the exchange’s features, fees, products, and services in this Hotcoin Global review. At the end of this article, you will know for sure if this is the right choice for your crypto trading career.
Hotcoin Global Overview
Launched in 2017, Hotcoin Global has become one of the leading crypto exchanges in the market. With a user count of over 5 million, Hotcoin Global claims to be recognized in over 97 countries around the world.
Numerous individuals globally are engaged in daily active trading, with effortless transactions. The exchange obtained two different licenses to carry out its operations in Australia. AUSTRAC issued these licenses.
On Hotcoin Global, users can trade on the spot or futures market. The exchange currently has a daily trading volume of $1.1 billion on the spot market and $4.9 billion on its futures market. There are currently 401 tradable pairs and 338 cryptocurrencies available for users to select from and trade.
Hotcoin Global’s fees are extremely high when compared to the standard industry price. Each trade charges a fee of 0.2% maker/taker on the exchange, while the fee for futures trading is 0.04% maker and 0.06% taker.
There are also many products available on the exchange for users to gain a passive income from. Its NFT marketplace, and copy trading platform are the only available products.
Additionally, Hotcoin Global’s security measures are good for the storage of assets due to the regulations backing the platform. This, however, does not guarantee user fund protection. It also has an irregular customer support center that can only be reached via email.
Pros and Cons
| 👍 Hotcoin Global Pros | 👎 Hotcoin Global Cons |
|---|---|
| ✅ Good trading interface for beginners | ❌ Very high fees |
| ✅ Advanced trading platform for spot traders | ❌ Not available in the US |
| ✅ Copy trading platform | ❌ Poor customer support |
| ✅ Wide range of crypto assets | ❌ Doesn’t support fiat currencies |
| ✅ Credit card/C2C purchase |
Hotcoin Global Signup and KYC
To register on Hotcoin, all you need is an email address and a strong password. When you head over to the official page, click on the register icon which will redirect you to the sign-up page. After that, input your email address and a strong password.
Next, you will be asked to verify your email, after which your account will be successfully created. You can begin trading on the exchange without KYC registration.
Hotcoin emphasizes KYC registration. After creating an account, you can head over to the verification page to complete your KYC.
Hotcoin Global Trading
Hotcoin provides users with a spot and futures trading interface. Transactions on the exchange are fast and reliable and its interface is top-notch.
Spot trading
Hotcoin provides two different interfaces for spot traders. These include the basic platform and the professional platform. The basic platform includes tools that can help beginners hone their skills and mastery of the spot market and equally make a profit.
The professional interface contains advanced charting tools such as RSI and custom drawing tools. There are also advanced order types such as stop-loss and take-profit tools for seasoned traders to enjoy proper analyses of the markets.
Unfortunately, trading fees for Hotcoin Global’s spot market are highly expensive. The fee charged on each trade is 0.2% for maker and taker orders. There are currently 357 tradable assets available on the spot market, offering users a wide range to select from.
Futures trading
Hotcoin futures provide a simple interface for beginners to set up positions and predict market prices. The exchange offers two major futures contracts:
- USDT-M futures
- COIN-M futures
The futures trading interval is not suitable for expert traders. That is because it provides basic tools that apply more to beginners. Trading futures on Hotcoin Global attracts a 0.04% and 0.06% maker and taker fee. There are currently 44 tradable cryptocurrencies available on the Hotcoin Global futures trading interface.
Hotcoin Global Fees
Fees on Hotcoin are relatively high when pegged to the industry standard.
Spot fees
The spot fees on Hotcoin Global are above the standard market price of 0.1% per trade. Instead, Hotcoin charges a 0.2% maker/taker fee which is high.
Futures fees
Futures fees on Hotcoin Global are also quite high. The exchange charges a fee of 0.04% for makers and 0.06% for takers on every trade.
Withdrawal fees
Hotcoin Global imposes a withdrawal fee of 0.0005 BTC for each BTC withdrawal. The worldwide industry average stands at 0.000643 BTC for each BTC withdrawal. Therefore, the withdrawal fees levied by this platform are considered to be competitive.
Hotcoin Global Products and Services
Hotcoin Global provides an average number of products for users to enjoy. The products range from Copy trading, NFT marketplace, Crypto loans, and Hotcoin Global Startup.
Copy trading
Hotcoin has developed its unique copy trading platform where less experienced traders can learn from the trades of professionals and apply it to their strategy for maximum profit.
With Hotcoin’s one-click copy trading platform, users can observe their favorite traders and watch their analyses, apply them themselves, and make equal profits depending on their capital. This is a good way for beginners to learn the rudiments of technical analysis.
NFT Marketplace
Hotcoin Global has an NFT marketplace where users can buy and sell a variety of NFTs. These include creative art, music, video, gaming NFTs, memorabilia, trading cards, photography, and other collectibles.
The marketplace is compatible with several blockchains. Currently, it has integrated Binance Smart Chain and Polygon, with plans to add more in the future. Creators have the flexibility to set their royalties and rareness, and they can sell NFTs either at auction or at a fixed ‘buy now’ price.
Hotcoin Global Earn
Hotcoin Earn is a feature of Hotcoin Global that allows users to earn additional income by holding certain cryptocurrencies. There are currently two types of earning packages for users to invest and earn on the platform. These are the Steady Flexible and Fixed-income Locked. For steady flexible savings, there is currently only one earning option with up to 8% APY. For fixed savings, users can select between three currencies, which include ETH, USDT, and FIL. Fixed savings allows users to earn from 5% to 12% APY depending on the asset being locked. You can find out more about how to earn on the exchange or click here.
Hotcoin Global Mobile App
Hotcoin Global has a mobile application available for both iOS and Android devices. The app is designed to provide a smooth and secure trading experience for users. It allows users to easily buy Bitcoin and other cryptocurrencies.
The app has been optimized for user convenience with features like an updated search function and a rewards center that offers more rewards for newbie tasks. The mobile app carries the same features as the web terminal. With the app, users can trade on the go and make profits as they would on the web interface.
However, the mobile app has only received 10k+ downloads since its introduction and still rests on a 2.6/5 star rating which is fairly poor.
Hotcoin Global Security
Hotcoin Global prioritizes security and the protection of user funds. It provides a secure wallet for users to store their digital assets, with features such as multi-signature authentication, two-factor authentication, and a secure encryption system.
The platform offers practical risk management tools, including protection against negative balances, free demo accounts, and instant price alerts. Hotcoin Global also holds an ISO Accreditation for security and follows industry-leading security processes.
Hotcoin Global Customer Service
Users can access the Hotcoin Global customer service via email or through the help center. It must be said that the customer service for Hotcoin Global is quite poor as it is not reliable and user complaints are often ignored.
Conclusion
Hotcoin Global poses as one of the rising cryptocurrency exchanges due to its friendly interface for beginners and wide range of cryptocurrencies for users to select from. It currently has 338 cryptocurrencies on its market with over 400 trading pairs. It also allows the purchase of cryptocurrencies via debit card or C2C trading.
There are however some downsides to trading on the platform, one of which is the exchange’s trading fees. Another downside to Hotcoin is that it doesn’t support fiat currencies and has a poor customer support center. It also is not a very suitable platform for expert traders due to its lack of advanced features.
This Hotcoin Global review has explored the necessary features, advantages, and disadvantages, as well as products offered by the exchange. This article is structured to help you make the best choice regarding your trading career.
FAQs
Is Hotcoin Global legit?
Hotcoin Global is a widely established crypto exchange. It has been licensed by AUSTRAC. However, there are still regulatory issues regarding other major countries supporting cryptocurrencies.
What are Hotcoin Global fees?
Hotcoin charges a 0.2% maker/taker fee for all spot trades and 0.04%/0.06% maker/taker for futures.
Is Hotcoin Global available in the US?
Hotcoin Global is currently not available to residents in the United States due to regulatory issues.
Where is Hotcoin Global located?
Hotcoin Global is a centralized cryptocurrency exchange located in Sydney, Australia.
