BitHash launched in June 2016 and is reportedly based in Singapore, operated by a Seychelles-incorporated entity. It supports USD, EUR, RUB deposits, OTC trading, IEOs and more than 100 trading pairs - indicating a broad offering rather than a narrow focus.
Trading volume and liquidity
According to trackers, BitHash shows 24-hour spot volume around $49-56 million across about 18 crypto pairs. That places it mid-tier globally, with noticeable liquidity in major tokens like BTC, ETH and XMR - enough for mid-size trades without extreme slippage.
Fiat support and interface
BitHash accepts USD, EUR and RUB deposits and withdrawals, and offers OTC services aimed at larger traders. It maintains both desktop and mobile-friendly web interfaces and pushed zero-fee crypto payment processing claims in the past.
Fees and trading conditions
The exchange uses a flat 0.10 percent maker and taker fee model. Crypto withdrawal costs are fixed by asset - 0.0005 BTC per withdrawal as an example. The fee structure is simple and transparent, with no confusing tiers.
Security and support
BitHash touts security tools like 2FA, cold storage, Ledger Vault and multi-sig hot wallets. However, there's no evidence of insurance coverage, proof-of-reserves, or external audit records. Their X (Twitter) account is nearly inactive, suggesting limited communication channels.
Community sentiment and trust
Trustpilot reviews are overwhelmingly negative, averaging a 2/5 rating with recurring complaints about non-responsive support, blocked withdrawals, and demands for extra fees to release funds. While some users reported smooth trades, the majority allege scam-like behavior:
“I can't withdraw my money… Every day I couldn’t get my money back with a lie and an excuse.”
“They robbed me of a significant amount… never respond to my messages.”
These kinds of reports appear consistently over time.
Strengths and weaknesses
Strengths:
Mid-level trading volume ($50M+) on 18 crypto pairs
Support for USD, EUR, RUB deposits and OTC trading
Flat, transparent fee structure with simple maker/taker model
Basic security measures like 2FA and cold storage
Weaknesses:
Poor user trust due to withdrawal issues and unresponsive support
Lack of proof-of-reserves or independent audits
Limited communication channels, inactive social presence
Potential counterparty risk - track record of user complaints
Who it suits
Traders needing support for USD, EUR or RUB via OTC
Users interested in mid-volume trades on mainstream assets
Who should avoid it
Anyone depositing significant funds or who needs prompt withdrawals
Risk-averse users who need transparency like reserves and audit logs
Traders expecting active support and reliable communications
Final thoughts
BitHash positions itself as a mid-tier exchange with fiat and crypto offerings. It has decent volume and a straightforward fee model. But recurring user complaints about frozen withdrawals and poor support undermine its credibility.
If you’re trading in moderate amounts and willing to take the risk, there’s some opportunity here. But if trust, transparency and timely access to funds matter - you’ll want to look elsewhere.
