Hotbit announced on May 24, 2021, that it had suffered a security breach and that it had temporarily suspended all services to investigate the situation and enhance security measures. According to Hotbit Exchange, the hackers attempted to steal user assets, and Hotbit has not yet announced when its services will resume. If you have any assets stored on Hotbit, it is recommended that you monitor the situation and take appropriate measures to protect your assets. Coinlocally, as one of the popular and reliable exchanges, is one of the best alternatives for you to keep your assets and trade after you withdraw from Hotbit.  Quick Getaway: Looking for the best alternative after withdrawing your crypto assets from Hotbit, Coinlocally is one of the best crypto exchanges with various sophisticated features including demo trading, Futures trading platform, etc,   Sign up here. Table of Contents – What is Hotbit? – Hotbit Exchange Ranking – What services does Hotbit offer?  –Hotbit App – Hotbit API – Is Hotbit legit? – Where is Hotbit Based?  – Hotbit Suspension – Hotbit Exchange Review – Hotbit Withdrawal Fees – Can you use Hotbit in the US? – Coinlocally; the best alternative for Hotbit – Conclusion What is Hotbit? Hotbit is a cryptocurrency exchange platform that allows users to trade a range of cryptocurrencies and tokens. Hotbit offers trading pairs for popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple, as well as many other altcoins and tokens. Hotbit has become popular among cryptocurrency traders due to its low trading fees and user-friendly interface. The exchange also offers features such as margin trading, staking, and a referral program that rewards users for referring new customers to the platform. It is important to note that, as with any cryptocurrency exchange, trading on Hotbit carries risks, such as the risk of losing funds due to price volatility or security breaches. It is recommended that users conduct their own research and exercise caution when trading on any cryptocurrency exchange.   Sign up now.    Where is Hotbit Based? Hotbit is based in Hong Kong, however, it serves users from around the world. It’s important to note that cryptocurrency regulations vary by country, and users should research the laws and regulations in their jurisdiction before trading on any cryptocurrency exchange.     Hotbit Exchange Ranking Hotbit cryptocurrency exchange is recognized as a cryptocurrency trading platform that continues to develop and integrate various forms of businesses such as spot trading, financial derivatives, cryptocurrency investment, and DAPP into one platform. It holds an Estonian MTR license, an American MSB license, an Australian AUSTRAC license, a Canadian MSB license, and an Australian AUSTRAC license. Currently, Hotbit’s business operates in more than 210 nations and regions. Hotbit’s continued focus on emerging markets around the world, including those in Russia, Turkey, and southeastern Asia, is based on its globalized and unified policies. It was one of the top three exchanges that Russian media outlets praised in 2019.   What services does Hotbit offer? Hotbit is a cryptocurrency exchange platform that offers a range of services for users to trade cryptocurrencies. Here are some of the main services offered by Hotbit:   Trading Hotbit crypto exchange allows users to buy and sell a wide range of cryptocurrencies and tokens. Users can trade a variety of trading pairs, including major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple, as well as many other altcoins and tokens.    Margin Trading Hotbit offers margin trading, which allows users to trade with leverage. This means users can open positions that are larger than their actual account balance, which can potentially result in higher profits. However, it also carries higher risks, as losses can exceed the initial investment.   Staking Hotbit allows users to stake their cryptocurrencies and earn rewards for holding them. Staking is a process of holding a cryptocurrency in a wallet and supporting the network by validating transactions. In return, users receive rewards in the form of additional tokens.    Referral Program  Hotbit has a referral program that rewards users for referring new customers to the platform. Users can earn a percentage of the trading fees paid by their referred users. Coinlocally offers a referral program by which you can refer your friends and earn crypto together. Coinlocally’s Referral Program requires a referral link or referral ID to be used once referred users sign up.  Up to 20% Commission can be earned in total, and it is applicable only in Spot and Futures platforms. Each user can generate 19 more Referral Links, and the effective period of the “Referral Reward” begins at the time when the referee creates the account.    API Integration Hotbit provides API integration for users who want to automate their trading strategies or build trading bots. It’s important to note that while Hotbit offers these services, trading cryptocurrencies carries risks and it’s important to understand the risks involved before investing. It’s always recommended that users conduct their research and exercise caution when trading on any cryptocurrency exchange.     Hotbit App Hotbit offers a mobile app that can be downloaded from the App Store for iOS devices or the Google Play Store for Android devices. The Hotbit app allows users to view their account balance, deposit and withdraw cryptocurrencies, and place buy and sell orders on the exchange. The app also includes features such as price charts, market depth charts, and real-time order book updates. To use the Hotbit app, users need to create an account on the Hotbit exchange website and complete the necessary verification steps. Once their account is verified, they can log in to the app using their Hotbit account credentials. Coinlocally offers sophisticated apps for iOS and Android which can be perfect alternatives for Hotbit’s.      Hotbit API Hotbit provides a REST API for programmatic access to its trading platform. The API allows users to access market data, trade cryptocurrencies, and manage their accounts. To use the Hotbit API, you will need to create an account on the Hotbit exchange