Frequently Asked Questions (FAQ) in Hotbit

Sep 09, 2023 1415 0

Account

Cant Receive Email Verification Code?

If you do not receive the email, you can try the following methods:

1. Please make sure that the email address you filled in is correct;

2. Please try to find it in your spam or other folders;

3. Check whether the mail can be received and sent normally on client;

4. Try to choose mainstream mailboxes like Gmail, Outlook, etc.;

5. It may be due to network delays, it is recommended that you wait for a while and then check your mailbox;

6. Please try to clear the cache and log in to the website https://www.hotbit.io/ with Google or Firefox browsers;

7. If you still do not receive the email, it may be blocked. You need to add Hotbits email domain name to the email domain whitelist, and then try to get the email again. Refer to the following link: https://hotbit.zendesk.com/hc/en-us/articles/360007571374

Note: After the whitelist is successfully set, because some email service providers require a certain effective time, it is recommended to try again after ten minutes and go to request email verification code.

Sorry for the inconvenience caused. If it still cannot solve your problem, please submit a ticket to us.

Cant Receive SMS Verification Code?

If you do not receive the SMS verification code, please try to request the sms verification code again according to the following methods:

1. It may be caused by phone network congestion, you can try again after 30 minutes;

2. The sms cannot be received or sms is delayed. It is most likely due to poor or no signal. It is recommended that you change to a position with a better signal and try to request it again;

3. Turn off the firewall, blacklist and other functions on the phone;

4. Open the phone security software, temporarily turn off the interception function and try to request sms code again (for smartphone users who have installed the security software);

5. Turn off and on your phone again;

6. Please try to click the second time immediately after 180 seconds;

7. Mobile phone arrears, mobile phone storage is full, text messages is in the trash can, etc. It may cause you to fail to receive the sms verification code.

If you still cannot receive the SMS verification code after the phone is cleaned up and restarted several times, please submit a ticket to us.

When You Need to Provide KYC

KYC is not required on Hotbit when you register, trade and withdraw. Users need to save their own 2FA code. Hotbit has a strict risk control system to ensure the security of all users assets in the platform. If the system verifies that a user has triggered a higher risk control system, Hotbit has the right to ask the user to provide KYC to ensure the security of all users funds in the platform. Therefore, you will need to provide KYC in the following situations:

1. Applying for resetting Google Authenticator Verification, SMS Verification and changing Email Verification
The user who submitted the application needs to provide the corresponding KYC and other information according to Hotbits resetting and changing requirements to complete the reset application.

2. Trigger Risk Control System
Hotbit will strictly protect users KYC data and will not use it for any other purpose.

How to strengthen account security?

1. Password

The password is preferably set to be complex and unique. The password length should be greater than 8 and less than 16 digits, the letter + number, and the letter is not limited to uppercase and lowercase; however, special characters, spaces, etc. cannot be used. You can set the password in this format: czb5321362, the password suggestion includes uppercase lowercase letters, numbers, and no obvious rules. It is best not to use your name, email name, your birthday, mobile phone and other information that is easily obtained by others. You can also increase the security of your account by periodically changing the password (changed every two months). The password for each replacement is preferably completely different. It is recommended that you should use the password manager 1 Password or Last Pass to record and manage password. Also, never reveal your password to others, and Hotbit.io employees will never ask for your password.

2. Two-factor authentication

It is recommended that you must bind Google Authenticator in your hotbit account. Google Authenticator, a dynamic password tool from Google. You need to use your mobile phone to scan the barcode provided by Hotbit.io or enter the key. After the binding is completed, a valid 6-digit verification code will be generated in every 30 seconds. After the binding is successful, each time you log in to Hotbit.io, you need to enter the 6-digit verification code displayed on the Google Authenticator.

3. Pay attention to phishing attack

Be careful, before clicking on any unknown link sent by someone who pretends that he/she is from hotbit.io. It might be a phishing attack. Before logging in to Hotbit.io account, be sure to confirm that the link is the official website of Hotbit.io. Hotbit.io will never ask for your password or email verification code and Google verification code.

Deposit and withdrawal

Internal Transfer Introduction

In order to better serve users, Hotbit has launched Internal Transfer function. Internal Transfer means that two Hotbit accounts can directly transfer assets to each other.

User should enter the withdrawal page of the corresponding asset, click 【Internal Transfer】button. Then fill in receiving Hotbit UID and withdrawal quantity.

In addition, internal transfer requires 5 HTB as handling fee between 2 Hotbit accounts. Please ensure that your HTB assets are sufficient when transferring.

Note: Please do not transfer asset to the login account UID, and verify that the UID filled in is correct to avoid irreparable losses.

How to Exchange nUSD

About nUSD: In order to support the opening of trading pairs with lower value currencies, Hotbit has launched nUSD currency, which can be exchanged in Hotbit with one click and no handling fee is required.
The price of nUSD is constant: 1 nUSD = 0.000000001 USDT, 1 USDT = 1000000000 nUSD

1. How to Exchange nUSD on the Web：Go to spot account and search nUSD, click [Exchange] button and enter the exchange nUSD interface.

2. How to Exchange nUSD on the APP：Go to USDT asset pag, click [Convert] button and enter the Convert interface.

Missing or wrong Memo(Tag/PublicKey/Description)：

If you forgot to use or used a wrong Memo(e.g. TNC, XLM, XRP, etc), your deposit will not be credited.
To recover your assets, you can apply online via self-service:
Please submit the support ticket to us and select [Deposit Question]→Fill in the description field [Fill in Memo forgotten or wrong] . And provide the following information so that we can verify and process for you as soon as possible:

Register email account, UID;
Deposit token name, deposit amount, Txid (very important);
Screenshot of deposit address on Hotbit

Deposit made to incorrect receiving/deposit address belongs to Hotbit or Unlisted token deposited

Hotbit generally does not offer a token/coin recovery service. However, if you have suffered a significant loss as a result of incorrectly deposited tokens/coins, Hotbit may, solely at our discretion, assist you in recovering your tokens/coins. Hotbit has comprehensive procedures to help our users recover their financial losses.
Please note that successful token recovery is not guaranteed. If you have encountered this sort of situation, please remember to submit the support ticket and provide the following information to us for speedy assistance, our customer service staff will promptly judge whether it meets the retrieval requirements.:

Register email account, UID;
Token name, Token chain you used
Deposit amount
The corresponding TxID (very important)
Screenshot of deposit address on Hotbit

If it is possible to retrieve the wrong coin, we would have to conduct relevant operations such as extra installation or upgrade on the software of our wallet, the import and export of the private key and so on. Due to the large amount of labor cost, time cost and risk control cost, the whole process will take at least three months or more, and it may take longer. For details, please submit the support ticket to check whether your wrong deposit can be retrieved.

Deposit to an incorrect address that doesnt belong to Hotbit

If you have sent your tokens to an incorrect address that doesn’t belong to Hotbit, we are unable to provide any further assistance. You can try to contact the relevant parties for assistance (owner of the address or exchange/platform that the address belongs to).

Deposit amount is less than the minimum deposit volume(The deposit history shows unknown error status)：

If your deposits history shows unknown error status, it means the amount is less than than the minimum deposit volume, it will result in failure to receive the account. The deposit page on Hotbit clearly indicates the minimum deposit volume. So the above mentioned asset(s) will neither be transferred into the relevant user(s)s account(s) nor be retrieved.

Is it safe to keep my large amount of assets in Hotbit?

Hotbit was established in January 2018 and has been running smoothly for 35 months with over 1000,000 registered users, 90% of whom are overseas.

Hotbit’s powerful internal security audit team provides year-round 24/7-hour real-time online audit services for all users’ assets. Meanwhile, Hotbit has also established strategic partnership with two top audit teams in the industry, namely SlowMist and Beosin, who are responsible for the detection of potential existing security problems of Hotbit exchange and the provision of relevant one-stop solutions.

Until now, Hotbit still proudly holds the record of zero loss to any of its user assets due to the platform’s own security weaknesses.

According to the data provided by relevant authorities, the security rating of Hotbit is ninth. https://icorating.com/report/exchange-security-report/

Thank you for trusting and entrusting your assets to us, and Hotbit will work extra hard to keep your assets safe.

Is it safe to store assets in Hotbit.io?

The Hotbit.io Security Management System was established in partnership with top security companies. Set up a multi-level firewall to monitor system data for real-time processing. In the field of digital asset security, a multi-signature and cold-hot wallet combination solution is implemented to protect customers digital assets and reduce user asset risk in multiple dimensions. Hotbit.io has always been committed to providing users with a safe and reliable service concept, relying on professional risk control system to protect your account and asset security.

Trading

Market Order Function Introduction

Market order is an order to buy or sell immediately at the best available price. It is entered with order size only.

In order to ensure the trading experience, market buy orders have minimum and maximum total limits, and market sell orders have minimum and maximum amount limits.

The traded market order can be viewed in the ordinary tab under the 24H order history.

*Please note that your market order will turn into a limit order under certain circumstances

When the transaction total you entrust in the market buy order is less than the maximum transaction total (or the commissioned amount in the market sell order is less than the maximum amount), and the corresponding pending order in the order book cannot make your market order complete, a part of your market order will be filled at the best price first, until there is no tradeable order in the order book, the remaining unfilled part of your market order will be automatically converted to a limit order and the order price is the price of the last lot when the market price is matched.
Incomplete market orders can be viewed in the ordinary tab under the open orders

Trigger Order Function Introduction

Trigger Order means that when the latest market transaction price reaches the trigger conditions, the system will place orders according to the pre-set price and quantity set in advance.

Terms description:

Trigger price: When the latest transaction price reaches the set trigger price, the order will be triggered to be placed.

Price: Namely the buying price and the selling price. When the latest price reaches the trigger price, the system automatically orders the order price.

Volume: it means the “order volume” after the Trigger Order is triggered.

Please note that
1.The assets corresponding to the order will not be blocked before the Trigger Order is conducted. After the Trigger Order is conducted (when placing an order to buy or sell according to the pre-set price and volume), the assets corresponding to the order will be blocked.

2. After the trigger order is triggered, it will become a limit order for trading.

3. The Trigger Order may not necessarily be triggered. Affected by factors such as price restrictions, account balances, trading pair delisting, network abnormalities or system upgrades, the Trigger Order may fail to be triggered.

4. The transaction may not necessarily be completed after the Trigger Order is triggered. Affected by market conditions, when the market fluctuates greatly and the price rises or falls sharply, the limit order or market order after the Trigger Order is triggered may not necessarily be traded.

Your untriggered planned orders can be viewed under "Trigger Order", before triggering, you can choose to cancel orders at any time

The trigger orders that have been triggered, cancelled, and failed can be viewed in the "Trigger Order" under "24H Order History"

Trigger orders that have been triggered and not fully completed can be viewed in the "Trigger Order" tab under "Open Orders"

The trigger order that is triggered and fully completed can be viewed in "Ordinary" under "24H Order History"

What are taker and maker?

1. Taker:

When you place an order that trades immediately, by filling partially or fully, before going on the order book, those trades will be "taker" trades.

Trades from Market orders are always Takers, as Market orders can never go on the order book. These trades are "taking" volume off of the order book, and therefore called the "taker."

2. Maker:

When you place an order that goes on the order book partially or fully (such as a limit order placed via the trading screen on www.hotbit.io ), any subsequent trades coming from that order will be as a “maker.”

These orders add volume to the order book, helping to "make the market," and are therefore termed the "maker" for any subsequent trades.

What is Hide Orders?

By choosing to hide their orders, users will be able to ensure that the order(s) they place will neither be displayed in the orderbook nor affect other traders. The major advantages of this function include:

1. providing our users with more abundant trading strategies to ease our users concerns regarding the fact that in case any large order(s) is (are) placed, the market trend of the token(s) involved on the orderbook will be affected accordingly as well, especially for those tokens with less liquidity.

For example:

1.1 Suppose user A intends to place an order and sell out a certain type of token in large quantity within a short period of time, such action will thus form a selling pressure on all sell orders on orderbook.
1.2 Suppose user B intends to place an order and buy in a certain type of token in large quantity within a short period of time, such action will thus cause a dramatic increase in all buy orders on the orderbook.

2. Improving the experience of takers by providing taker orders with the opportunity to close the deal with a better price than the price listed on orderbook.

For example:

2.1 Suppose user A intends to buy in a certain type of token within a short period of time, by placing his/her order with the price of market order, user A’s order will be matched, settled and closed with the hidden order listed ahead of the “buy 1” order listed on orderbook in a better price.
2.2 Suppose user B intends to sell out a certain type of token within a short period of time, by placing his/her order with the price of market order, user B’s order will be matched, settled and closed with the hidden order listed ahead of the “sell 1” order listed on orderbook in a better price.

How to check the historical records of transcation?

The first step: Login your Hotbit account and click the button of "orders".

Frequently Asked Questions (FAQ) in Hotbit

The second step: It comes to the page of "trade history", and there are three options of "date" "pair" and "type".

1) Search it by "date": input the starting time and finishing time. As it is shown in the picture, we select the orders from August 1st, 2018 to April 15th, 2020.