Comparison of Hitbtc vs Switchere [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Hitbtc vs Switchere comparison!

Your expert: Alejandro Borja

Hitbtc

Your expert: Xavier Tarrasó

Switchere

Main points

Fees

0,10%/0,20%

Earns

Customer service

3/5

only card 3.60%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

3.9 – Reasonable fees with additional benefits for instant purchases.

Level

0,10%/0,20%

only card 3.60%

Brief explanation

HitBTC Trading Fees Overview HitBTC uses a straightforward fee structure that follows a maker-taker model. The standard fee is 0.1% for makers and 0.25% for takers. However, the fee decreases with higher trading volumes, incentivizing frequent and high-volume trading. For instance, users with significant monthly trading volumes can benefit from fees as low as -0.01%, essentially earning rebates on their trades . The exchange also offers tiered fee discounts based on trading volume over the last 30 days. This means that the more you trade, the less you pay in fees, which can be advantageous for active traders. Additionally, HitBTC supports various withdrawal methods, each with its own associated fees, primarily network fees for the cryptocurrency being withdrawn . Summary of HitBTC’s Commissions HitBTC’s commission structure is designed to be competitive and transparent. Regular users face a 0.1% maker fee and a 0.25% taker fee, with opportunities for rebates and lower fees for high-volume traders. The tiered fee system encourages increased trading activity by offering progressively lower fees based on the user’s trading volume over the past 30 days. Withdrawal fees vary depending on the cryptocurrency and its network conditions, while there are no deposit fees for digital assets. Overall, HitBTC’s fee structure benefits frequent traders, though beginners and low-volume traders should be aware of the standard rates. The exchange’s commitment to transparent and competitive fees makes it a strong contender for those looking to minimize trading costs while maximizing trading opportunities.

Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

Hitbtc

1. Security Methods HitBTC employs robust security measures, including two-factor authentication, cold storage for the majority of funds, IP monitoring, and withdrawal whitelisting. These measures ensure that user funds are well-protected against potential breaches and hacks.
2. Volume Managed With high trading volumes across a wide array of cryptocurrencies, HitBTC provides substantial liquidity. This is beneficial for traders looking to execute large orders without significant price fluctuations, ensuring smoother trading experiences.
3. Transparency Although the corporate structure is somewhat opaque, HitBTC maintains transparency in its fee structure and trading processes. The platform provides detailed information on fees, trading pairs, and supported cryptocurrencies, which helps build trust with its users.
4. Trading Volume and Liquidity HitBTC consistently ranks among the top exchanges in terms of trading volume, offering deep liquidity across its extensive range of trading pairs. This high liquidity is crucial for executing trades quickly and at favorable prices.
5. Withdrawal and Deposit Policies HitBTC offers a straightforward withdrawal and deposit process with a variety of supported cryptocurrencies. While fiat withdrawals and deposits are limited, the platform’s clear policies and reasonable fees make it a reliable choice for crypto-to-crypto trading.

Switchere

Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

HIT Solution Inc.

Unknown

Regulation

Not regulated

Year founded

2013

2019

Founder

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Hitbtc	FEATURES	Switchere
Giottus has a low minimum trade amount, making it accessible for users with varying investment sizes.	Minimum Trade	Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Competitive fee structure with no fees for makers and 0.20% for takers, lower than the industry average.	Trading and Transaction Fees	The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Supports a decent range of major cryptocurrencies and some altcoins, though not as extensive as some larger exchanges.	Number of Cryptocurrencies	Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Offers various crypto-to-crypto trading pairs, sufficient for most traders but not exhaustive.	Crypto-to-Crypto Trading Pairs	Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Provides clear and transparent information on fees, services, and features, ensuring users are well-informed.	Website Transparency	The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
No exchange card available for in-store purchases or additional benefits, which is a significant drawback.	Credit/Debit Card	Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Secure storage solutions with most funds held in cold storage and insured custodial services through Bitgo.	Storage Offering	Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers some staking options, but they are not as extensive or rewarding as those available on other platforms.	Staking and Rewards	Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
The mobile app is highly rated for its user-friendly design and multilingual support, providing a seamless trading experience.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Responsive customer service available through live chat and email, but the lack of phone support is a minor limitation.	Customer Service	Generally responsive and helpful, but some users may experience delays during peak times.
Supports multiple deposit methods including bank transfers and UPI, with quick processing times, but fiat transactions are limited to INR.	Deposit and Withdraw	The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Advanced charting tools, technical indicators

No significant tools, mainly a buying platform

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Margin trading, futures trading, staking, HitBTC API

Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Yes

Key points

Available cryptocurrencies

800+

10+

User-friendliness

HitBTC features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, EUR, BTC, USDT

EUR, USD, BTC

Account

Trading

HitBTC offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but lower liquidity compared to larger exchanges.

Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

HitBTC supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

HitBTC provides a straightforward and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually takes less than a day to complete.

Switchere offers a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

HitBTC provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Switchere offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

HitBTC offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert at Threenvest, I recommend HitBTC for traders who seek a diverse range of cryptocurrencies and advanced trading features. The platform’s robust security measures provide peace of mind, and its competitive fee structure is advantageous for high-volume traders. However, be mindful of the potential delays in customer support and the lack of corporate transparency. Overall, HitBTC is a solid choice for experienced traders looking to leverage a wide array of digital assets.

Xavier Tarrasó

As a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.