SegWit2x Tokens trading live on HitBTC

Dear traders,

As it follows from our recent statement, we have decided to provide you with the access to SegWit2x fork, titled as B2X. It appears to be activated in November, and you have the access to B2X future split tokens markets in advance. Please make an acquaintance with our roadmap on SegWit2x.

October 17th. B2X token markets are open on HitBTC! Trade B2X with BTC, ETH and USDT.

B2X is not available for deposits and withdrawals, because SegWit2x is not activated yet.

The original BTC ticker remains with the original Bitcoin.

The day SegWit2x is activated. These actions are to be performed:

  1. B2X deposits and withdrawals will be enabled. Future split tokens you’ve purchased will turn alive.
  2. You will receive the same amount of B2X as you hold BTC on your HitBTC account.

Further actions. Since it isn’t clear yet, whether SegWit2x will gain the majority of support worldwide, we’re going to keep abreast of any changes. Keeping an open dialogue with our community, we will provide them with a possibility to decide the course of action to follow. As always, our mission here is to listen and fully understand the needs of our traders, being ready to fulfil them and meet the highest expectations.

Throughout the whole process we guarantee the safety and security of your assets. We may temporarily suspend BTC deposits and withdrawals during the hard fork process, due to the lack of strong two-way replay protection in SegWit2x. Once we are sure that it’s safe, we will restore the full functionality of Bitcoin on HitBTC. Follow our updates.

Respectfully,

HitBTC team

Impak (MPK) market update

Dear traders,

We are happy to provide you with the most complex and rich token supply on the market. New coins are being added on HitBTC every few days, and there’s a constant flow of incoming proposals to add more new promising and interesting tools. A lot of partnership agreements are made on a regular basis, and it’s always a pleasure to deal with those who are moving crypto world forward.

Upon multiple requests from traders and market makers we have listed Impak Project (MPK) in July. Recently its team had contacted us with an important message. They have kindly asked us to suspend trading MPK on HitBTC because the idea behind Impak seems to be totally different from the other coins.

Word goes to Impak developers:

 — «Unlike most cryptocurrencies, Impak will not be traded on exchanges (markets), but rather on a dedicated market managed by Impak Finance, and at a pre-established price point. This way, impak Coin will be stable in value, contrary to the usual offer and demand models.»

It’s important for us to be of assistance and support for everyone who we partner and interact with. The decision made by Impak team may seem uncommon for crypto community, since the most usual goal of any new coin is to win as much markets and trading platforms as possible. Nevertheless, we appreciate and value our partnership. We have thoroughly discussed this issue with Impak team and we are ready to cooperate.

The trading process on MPK/USDT is going to be suspended on October 12th. In case you would have active orders on that market, they will be cancelled and you will get your coins back. Please note that there’s IOU trading going on on that market, MPK coins haven’t been issued yet, so they are unavailable for withdrawal. You are able to safely store MPK IOUs on HitBTC. Once Impak tokens are released, you will be able to withdraw them. According to Impak team, that is going to happen in summer 2018.

Please don’t hesitate to contact our support team in case you’d require any assistance or have any thoughts to share. Also Impak team is here for you, feel free to contact them.

Regards,

HitBTC Team

SegWit is now live on HitBTC

Dear traders,

We are glad to announce that from now on HitBTC supports SegWit technology. Want to try? Create your new Bitcoin address today, enjoy faster transactions and lower fees, and be ready for future improvements!

What is SegWit?

This is a technology aimed to cure a whole series of original Bitcoin imperfections, such as:

  • Possible malleability bugs
  • Blocks being clogged with transaction data, reducing network speed
  • Fees are getting higher

The idea is simple. As for before, each transaction had contained quite a lot of data. Besides inputs and outputs, there also could be found scripts and signatures. They are used to make sure that this transaction is legit. Therefore scripts and signatures from every transaction are being stored in the block among the other important data.

Eventually the block size limit of 1 Mb had turned out not to be enough for rapid Bitcoin network operation. Transactions would stuck and take more time to proceed, and the fee costs in USD had been increasing drastically sometimes.

SegWit technology segregates scripts and signatures from other transaction data and stores them in a separate extended block. As a result, there’s more room for transactions in the original block. And more room for further improvements, such as blockchain scalability and speed being enhanced.

It’s been a long way for SegWit to become implemented, since the first signs of its necessity have appeared even in 2012. On August 23rd, 2017, it has finally activated on Bitcoin.

What does this mean for you?

From now on we support incoming and outcoming SegWit transactions. SegWit is a backward-compatible technology, which means none of existing functionality will be affected in any way. Feel free to withdraw your coins to non-SegWit addresses, same goes for deposits.

To start receiving SegWit transactions, simply create new Bitcoin address in your account. From today on, every new generated address will be compatible with new technology. Your old address will also remain active as well.

Outcoming transactions are now also sent in SegWit format. Withdrawal fees are about to decrease by 50%.

Security announcement on phishing alerts

Dear traders,

We have been receiving a range of reports from people coming across phishing attempts lately. Secure passwords and even two-step authentication could be powerless once the attackers manage to deceive the account owner. Cautionary measures are a must.

That is the common scheme of phishing attack:

  1. User is being faced with the link, which leads to a website disguised as original HitBTC website.
  2. It asks to proceed via standard login procedure: specifying password and 2FA code.
  3. Once this personal data is retrieved, violators have the access to this particular account, which they take advantage of immediately.
  4. Funds are being stolen.

We are striving for not to let step 1 take place, by making everything possible to shut down the phishing websites once we locate them. Special gratitude goes to our traders who notice these websites and care to report them to us. But unfortunately the process of phishing website being eliminated takes time.

 

To protect yourself from phishing, you would need to be totally in control of your movements online. We would suggest these tips:

  • Whenever you’re visiting HitBTC, please make sure that the website address in the address bar is spelled correctly. The only legit HitBTC address is hitbtc.com.
  • Let your primary point of entry to HitBTC be the bookmarks section in your browser. Or just manually type the HitBTC address in the address bar. Don’t trust any links you would see online. They easily could be misleading.
  • Never disclose your personal data to anyone. Violators could try to impersonate us in order to lure or compel you to reveal your password. Remember: legit HitBTC associates  won’t ever ask you for your password or 2FA codes.
  • Malicious websites are able to steal your personal data as soon as you only visit them once. Malicious software could spy on you. Email is the most common way to spread harmful data. Please make sure that you are not opening links and attachments received in untrusted emails.

Here are some important steps to take right now.

  • Make sure that your HitBTC password is strong and unique
  • Please enable 2FA protection for login, settings and withdrawal options
  • Take care to protect your device from malicious software.

In case you’d happen to notice something suspicious: websites disguising themselves as HitBTC, or emails presumably from HitBTC team, containing questionable requests, please, don’t hesitate to report these issues to us. Our coherent joint efforts will help to keep HitBTC users safe and secure.

SKIN/BTC market updates

Dear traders,

Recently we have enabled new SKIN/BTC market .

Unfortunately, several slight technical issues had arisen shortly after: trading fees could have been calculated and displayed incorrectly. In order to accomplish our mission to provide you with the best possible trading experience, it is necessary for us to solve these problems.

September, 7th we are going to fix these issues and update this market. Fees are going to be calculated precisely and correctly, active orders and whole trading process won’t be affected during update process.

Please note that trading history on this market will be updated and started from scratch. We have provided you with an easy way to save your SKIN trading reports: just proceed here, select necessary markets in the “Market” list and hit “Export”.

Also we would be glad to present your trading history upon your request. Just contact our support team.

Please accept our apologies for any inconvenience caused. We’re in constant strive to make our exchange a better place to trade,

HitBTC Team

USDT explained

Dear traders,

 

Several months ago we have introduced USDT currency, enabling its deposits and withdrawals. Fast forward to today, and USDT is firmly settled in HitBTC’s top 5 trading assets list. USDT pairs are highly popular and demanded among traders worldwide, and major crypto parties are showing massive support as well. Here follows the invention of USDT summarised and explained.

 

USDT is a cryptocurrency asset based on the Bitcoin blockchain. Presented by Tether project, USDT units are backed up by US Dollars, held by Tether. One USDT unit roughly equals 1 USD. The amount of USDT in circulation can be checked via Omnichest.info. The corresponding amount of USD reserves is proved by Tether bank balance info being published.

 

USDT combines fiat and crypto advantages. It’s safe and transparent. The bottom line is that USDT holders have price-stable crypto asset for national currency, which operates on the oldest and most secure blockchain.

 

With Tether on arms you are provided with an extra entry point for fiat trading on HitBTC. Account verification is not required – USDT deposits and withdrawals are performed same as with any other cryptocurrency.

 

Along with other popular crypto market players HitBTC is at the forefront, building up USDT support. The possibility of using fiat currencies on the blockchain is being brought to life and is highly appreciated by crypto community.

 

HitBTC continues to strive to provide you with more possibilities for fiat trading. At the moment we are negotiating with financial institutions, aiming to provide you with more exciting features. Stay tuned for further updates and be the first to experience options like instant credit card payments and much more.

 

Our statement on BitcoinCash support

Dear traders,

Since the Bitcoin improvement proposal (BIP-91) had been agreed on, it seemed like Bitcoin crisis is averted and the market-shaking fork won’t take place. Bitcoin development community decided to embrace the software upgrade called SegWit2x, which aims to increase network’s transaction capacity.

But it turns out that still there are controversies left to resolve. BitcoinCash (BCC) development team had announced that they will go ahead with a fork on August 1st. The essence of their project is to increase the block size to 8 Mb, providing protection from replay and wipeout attacks. And they do not support SegWit. Hard fork is extremely likely to expect.

 

Our mission here is to protect your funds and provide you with the most flexible and up-to-date market tools. From now on you are able to purchase BitcoinCash futures (BCCF) right here on HitBTC, even before the hard fork. Trading pairs to BTC, ETH and USD are available. Once hard fork takes place, these futures are going to be transformed into BCC.

Also those who store a certain amount of BTC on their accounts, will receive the same amount of BCC. We assure you that all Bitcoin funds, stored on exchange, will be safe before, during and after the fork process.

 

For further information take a look at our statement.

HitBTC Team

HitBTC Statement on possible Bitcoin fork

Dear traders,

As you may know, Bitcoin Core is undergoing some important scaling improvements. Here is some historical background on what is happening now:

Segregated witness or SegWit is the backward compatible protocol upgrade that was originally proposed by Bitcoin Core development team as a part of scaling strategy. SegWit could have been initially activated through BIP141 if 95% of hash power had signaled readiness to upgrade within single difficulty period before November 15th, 2017. Shortly afterwards users decided to stimulate miners’ decision making to upgrade and announced BIP148 as known as UASF (user activated soft fork), scheduled on August 1st. From this date their nodes would have rejected all blocks that are not signaling readiness for BIP141.

Meanwhile in May 2017 the critical mass of Bitcoin ecosystem, i.e. users, miners, companies, developers etc., agreed on SegWit activation through BIP91. Consequently only 80% of hash power, signaling for readiness, is needed to activate BIP91 and proceed with SegWit adoption. That is what has happened on July 23d. Since then miners have to orphan every block that is not signaling readiness to SegWit. But they might not do this and proceed mining blocks on non-SegWit chain. As a result there is a potential threat of Bitcoin’s hard fork.

At the same time as BIP91 was activated, the launch date of Bitcoin Cash (BCC) was scheduled on August 1st, 2017, 12:20pm UTC. Bitcoin Cash is a hard fork of Bitcoin’s chain and initially was developed to prevent the UASF via BIP148. It doesn’t support SegWit and has three main features: the block size of 8 MB, integrated replay and wipeout protection and new way of signing transactions. So the likelihood of potential split has enhanced.

Here is HitBTC’s official statement on this issue:

  • HitBTC stands for SegWit activation. We believe that planned changes and improvements will receive strong community support and result in the technology efficiency and prosperity. We hope that all the negative scenarios, political issues and malicious acts will stay on the sidelines and Bitcoin community will make a weighted and appropriate decision.
  • Customers’ funds security is our highest priority. We will suspend Bitcoin and its tokens USDT, MAID and AMP deposits and withdrawals from July 31st till August 2nd to protect users from replay attacks and network instability. The timing may vary, we will keep you informed about any updates.
  • If there is no chain split and the Bitcoin blockchain functions properly, we will resume deposits and withdrawals.
  • Even if the UAHF happens, we will take all the necessary technical steps to support the new blockchain. We will fund every Bitcoin holder with the newly born asset.
  • For the sake of your assets security we advise you to limit the number of Bitcoin transfers and keep your funds in one place. HitBTC assures its users that all Bitcoin funds, holding on exchange, will be safe during the uncertainty of potential chain fork.

We are monitoring the updates on SegWit adoption and will keep you informed about further mitigations. Stay tuned.

HitBTC team

ICO FAQ

What is an ICO?

An ICO (Initial Coin Offering) is a new crowdsale concept in the cryptocurrency and Blockchain industries.
It’s important to understand, what is special about them, what is the difference between ICO and other coins.

  • Initial Coin Offering

    • ICO is a form of crowdfunding, used by startups. Imagine a team of developers who are working on a new promising project. They might need to raise money from public, so they create their own cryptocurrency. Those who want to support the project, would buy the rights of token possession during the initial crowdsale phase. As a result, the project gets the capital to fund development, and the audience members get their tokens’ shares.
    • What is an IOU?
      It’s very important to understand that during the initial phase new coins don’t exist yet, people are buying IOU (“i owe you”) – not the coins themselves, but the obligations. As soon as fundraising phase is over, IOUs are being transformed into usual tokens.
  • How can I deposit ICO coins or sell them?

    ICO coins basically don’t exist until the issue date. There’s no blockchain for them. That’s why it’s not possible to perform transactions, send coins somewhere – for example, deposit your HitBTC account with them.

    Until the moment the tokens are released, only verified market makers and ICO communities, who chose our site for primary placement, are able to deposit ICO to HitBTC.

  • What exactly does HitBTC provide then?

    Check out the “ICO” tab in the “Instruments” section on our exchange. You are able to buy IOU directly from us and store them on your HitBTC account. As soon as tokens are released, you’ll be able to trade, deposit/withdraw them – it’s exactly the same deal as with every other coin.

  • Why it’s convenient to participate in ICO on HitBTC?

    You don’t need to spend time looking for new promising ICOs and figuring out how to join them – the most interesting tools are already here. You don’t even need to leave HitBTC – our familiar interfaces are here for you, participating in ICO feels exactly the same as buying any other coin.
    As tokens are released, you are the first to trade them right here, on HitBTC, which also is great.


There’s a whole set of ICO coins listed on HitBTC. 
SNM, CVC, SNT, BNT and a lot more, and there will be more!
The next post in our blog we will tell you about new ICO projects!

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Why should advanced traders choose HitBTC with its new API 2.0?

Dear traders,

Meet the alpha version of our new API. The platform’s dependable API provides an easy integration, is extremely stable and will satisfy the needs of algorithmic traders.

New API is designed specifically for advanced traders and has already received a lot of positive feedback. Our exchange strives to keep on improving!

Please note: the earlier version of the API will keep on working and would not be deactivated as long as at least one customer uses it.


We have improved the technology and added following enhancements:

  • Authorization is faster and easier
  • Volumes are displayed in natural terms of currency, no lots anymore
  • Error codes are standardized
  • Unambiguous and uniform representation of data throughout the API
  • Advanced mechanism  for new order creation
  • The possibility to obtain status of trades via the REST interface

Sounds exciting?

Check out what we also already provide:

  • Our API supports all functions provided by the exchange
  • 3 types of protocols: REST, WebSocket, FIX provide an opportunity for individually select the functionality you need to trade and collect market data
    • The REST protocol provides you with the opportunity to receive (simultaneously and everywhere) market data, perform trading operations and manage funds (deposits, transfers, payments)
    • The high-speed WebSocket protocol allows you receive and send data at the same time, ideally suited for high-frequency commerce: the speed of tasks depends only on network delays (less than one millisecond), you can receive real-time messages
    • The FIX API is designed specifically for advanced traders to migrate from popular fiat exchanges, using all their professional tools, Persistence included
  • API has been updated with TSL secure encryption
  • All products are pre-tested by a team of experts

 

What traders value about us

  • Possibility to generate multiple addresses for each currency
  • Opportunity to create all kind of orders through the API: limit, market, stop, stop limit
  • Client can choose between multiple time-in-force options
  • Client order ID can be assigned and customized for each order which allows to request the status of the trade
  • HitBTC API provides the opportunity to manage your transactions and check out error messages that could occur on order creation
  • Support team operates around the clock, ready to solve any issues

Try new API

Happy trading!