There are hundreds of cryptocurrency exchanges, brokers, and trading platforms. Not all of these companies have a good reputation in this industry.
One company getting a lot of backlash is HitBTC.
More HitBTC Complaints to add to the List
Although the company is providing perfectly legitimate services, customers are often complaining.
The latest round of complaints revolves around their KYC procedures affecting some users.
It is unclear where this backlash comes from, as virtually all exchanges check users’ identities in this modern day and age.
They are legally obligated to do so, regardless of who the user is, how long they are using this platform, or which amounts of money are involved.
That being said, the “randomness” associated with how HitBTC performs these checks has irked a fair few users.
There are also regular complaints regarding high withdrawal fees for certain pairs.
Given all of the negative comments, anyone worried about using the platform has plenty of alternatives as their disposal.
This is also the problem when relying on centralized platforms.
They are ultimately in control of one’s funds, and not the one actually owning the money.
It seems unlikely that HitBTC can recover its reputation anytime soon.
Even so, they still have plenty of users who never complain either, thus the situation isn’t always black or white.