What is Hotbit? 📊
Founded in 2018 in China, Hotbit is a cryptocurrency exchange that is known for having a lot of coins and tokens listed and available for trading. They have a whopping combination of 1700+ coins and tokens listed!
What is BEP20? 🔶
BEP20 is the token standard of the BNB Chain (previously known as Binance Smart Chain or ‘BSC’). This token standard allows users to transfer tokens such as USDT, USDC, WBTC, WETH, etc, through the BNB network.
Does Hotbit support BEP20 token deposits? 💸
Yes! Hotbit supports depositing BEP20 tokens such as Tether(USDT) and USDC.
Does Hotbit support BEP20 token withdrawals? 🤑
Yes! Hotbit supports withdrawing BEP20 tokens such as Tether(USDT) and USDC.
Adding the BSC Chain Network to MetaMask 🔶➕🦊
- Head over to Chainlist.org
- Lookup Binance on the search bar
- Under Binance Chain, click on Connect Wallet
- Click on Add To MetaMask
- On the MetaMask popup, click on Approve
Voila! You now have added the BNB Network to MetaMask.
is Hotbit safe and secure? 🔒🤔
The Hotbit team seems to be doing a pretty good job in keeping the platform secure. But regardless, while Hotbit is a great platform to trade, we always recommend using a hardware wallet for holding coins and tokens for the long term.
Final Thoughts 🗒
Trading or investing in tokens using centralized or decentralized exchanges is great and all that, but always make sure your funds are secure. We always recommend using a nice hardware wallet like a Ledger to achieve this.
