HashKey Exchange Review

Hong Kong is known for its kick-ass action movies (Jackie Chan fan, here!) and delectable cuisines. But for local traders, the real focus lies elsewhere—finding a licensed exchange in the region. In this HashKey Exchange review, I'll take you through an exploration of this virtual asset platform.

So, what is HashKey Exchange? This Hong Kong-based platform caters to local traders, providing FX trading and brokerage services on top of its crypto offerings. Meanwhile, HashKey Global is designed specifically for international traders.

As for my review, I will focus on the Hong Kong locale. However, the platform currently only offers spot trading, and due to regulations, the same goes for popular exchanges like Binance, Kraken, or OKX.

HashKey Exchange Review: A Quick Overview

As is customary, getting to know an exchange is necessary before committing to it. So, to set the context of my HashKey Exchange review, here are its key details:

Table: A quick overview of the HashKey Exchange

Now that you have a well-rounded understanding of what is HashKey Exchange, let's move forward. You can always revisit the snapshot of the platform in this section.

HashKey Exchange Alternatives

When talking about Hong Kong CEXs, HashKey is one of the pack leaders. To date, it is the largest local exchange. However, some renowned platforms available in Hong Kong not only meet local standards but also set the bar on a global scale. If you're still not yet set with your decision, see how HashKey compares to the following benchmark setters:

• Binance. The top of the crop when it comes to crypto exchanges, Binance supports 600+ cryptocurrencies and 100+ fiat currencies, including HKD.
• Kraken. A highly regulated trading platform, Kraken is known for its institutional-grade security, user-friendliness, and comprehensive trading options.
• OKX. Another popular exchange for Hong Kong traders, OKX has many innovative Web3 features in its lineup: AI-powered trading bots, copy trading, structured earning programs, and more.

	KRAKEN	BINANCE	OKEX
Overall Score	9.8	8.1	7.3
Best For	Beginners	Advanced Users & Beginners	Trading Hundreds of Tokens and Trading pairs
Operating Countries	United States, Germany, United Kingdom, France, Canada, + 190 more	Turkey, Argentina, Vietnam, Ukraine, + 180 more	Japan, Belarus, Ukraine, China, Thailand, + 100 more
Latest Coupons	Visit Site All Kraken Coupons	See All Coupons of Best Exchanges	See All Coupons of Best Exchanges
Verdict	One of the best crypto exchanges, especially in the US.	One of the leading crypto exchange platforms in the industry.	An established crypto exchange that offers users a wide array of different features and functionalities.
	Visit site Read review	See TOP10 Brands Read review	See TOP10 Brands Read review

Table: Comparison of top exchanges

Admittedly, it's hard to turn your heads from these exchanges' extensive offerings—but take notes for now. As you accumulate more details from my HashKey Exchange review, you'll come to your judgment as to which one deserves to take the trophy home.

Did you know?

Compare Crypto Exchanges Side by Side With Others

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Who Is the HashKey Exchange For?

After conducting some tests on the platform myself, I reckon that the HashKey Hong Kong Exchange is well-suited for the following profiles:

• Casual local traders. If you enjoy trading but prefer to avoid complexity, then you'll enjoy HashKey's simple yet strikingly modern interface. The instant conversion feature is another honorable mention, especially if you focus on top market-cap cryptocurrencies.
• Multi-asset traders. Whether you're a multi-bagger investor, a crypto loyalist, a fiat-focused trader, considering a switch, or exploring a new market, HashKey has the tools to manage your diverse portfolios seamlessly.
• Active traders. The more you trade, the more rewards you'll accumulate with HashKey's VIP program.
• Institutional and corporate traders. The Hong Kong exchange is not only made for individuals—it also offers personalized solutions for businesses, customizable to your growth strategies.

Perhaps you recognize yourself in any of these audience groups? As visible here, HashKey has something for nearly everyone, so let's uncover in specific what HashKey has in store for you.

📚 Read More: How to Choose a Crypto Exchange for Beginners

Advantages

Is HashKey legit as a trading platform? Yes, and the following reasons will tell you why:

• Fully compliant;
• Portfolio diversification opportunities;
• Rewarding programs;
• Secure crypto storing with the HashKey wallet;
• All-in-one corporate trading.

The fact that HashKey has secured multiple mandatory licenses to operate as a digital asset hub is an achievement worth sharing.

Gaining one certification alone requires much time and hard work, but HashKey manages to obtain Type 1 (dealing in securities), Type 7 (providing automated trading services), and Anti-Money Laundering Ordinance (AMLO) licenses from the Securities and Futures Commission (SFC) of Hong Kong.

These certifications mark a significant milestone for HashKey in extending its range of products and services, especially for users managing different asset classes. HashKey's sleek and intuitive user interface makes it a breeze to trade an array of cryptocurrencies or exchange them for fiat. Additionally, its currency exchange allows HKD-to-USD trades in real-time.

That said, trading is not the only way to earn on this platform, as HashKey also packs a punch with its incentivized programs. Whether you're new to the platform or have been racking up trading volumes, HashKey's bonuses will keep you coming back for more. Even the exchange's native token, HSK, frequently offers promotions to watch out for.

Undeniably, growing your assets comes with the responsibility of safeguarding them. For that purpose, HashKey comes with a solution, the HashPass Wallet. This browser-focused wallet can store your cryptocurrencies safely, connect you to decentralized applications (dApps), and facilitate transactions. Plus, it's non-custodial—so the privilege to control your private keys is in your hands.

📚 Read More: Best Cryptocurrency Wallets

And those are the features of HashKey I'd like to highlight for individual traders, but as mentioned earlier, the exchange also has a lineup of products for corporate and institutional traders. Professional investors can place minimum orders of $100,000 through HashKey's brokerage service, access higher position limits, and benefit from personalized risk assessments.

Disadvantages

Just like human beings, no matter how perfect they seem, no trading platform is without flaws. The HashKey crypto exchange also has its share of imperfections:

• Complex KYC requirement;
• Limited cryptocurrency support;
• Few spot trading pairs;
• No advanced crypto trading.

Before you begin any activity on HashKey, as usual, you'll need to complete a Know-Your-Customer (KYC) process. However, there's one requirement that might be a step back for some users: transferring HKD 10,000 to the HashKey Exchange HK.

It's as if you have to pay for your identity to be verified. The only way to bypass this is through offline verification, which can be inconvenient for those who find road traveling a hassle.

Once you've completed the KYC, it's time to begin your trading journey. But let's face it: who can't resist the FOMO of new token launches? Sadly, HashKey is not keeping up with the trends. It only features a small pool of cryptocurrencies (25 of them, to be exact), and rarely the colorful ones (like Fartcoin) pass the vetting process on the platform.

Even when you're using the Instant Conversion tool, which comes in handy for traders who value simplicity, only 4 cryptocurrencies are supported there. From my observation, HashKey seems to focus exclusively on large market-cap crypto assets, like BTC, ETH, SOL, and DOGE.

Generally, you can find a broader category of cryptocurrencies on an exchange's spot market, but HashKey's HK version only lists 34 spot pairs. On the other hand, the Global one does support more.

That said, many of these trading pairs, though, are conveniently pegged to HKD or USD. Still, you're pretty much stuck with limited to no options if you're looking for low market-cap crypto gems, promising AI projects, or cult-favorite meme tokens.

On the other hand, some traders focus more on the trading method rather than the coin itself. However, users are running into a roadblock here as well. As brought up in user HashKey Exchange reviews, only spot trading is available for now. The same goes for other widely known platforms like Binance, Kraken, and OKX.

Fees and Limits

Admittedly, Hashkey Exchange fees are not the lowest in the market. That said, you can progressively get them lower by carrying out more trading activities. Here's a quick sheet that can also serve as a cheat sheet to get you started:

Table: HashKey fees

As you can see, one thing to be thankful for is that HashKey gives out many fee waivers. Still, to avoid any surprises, let's try to understand the details of the fee structure above:

• Crypto Deposit. HashKey Exchange's fee for deposit is waived. That said, the minimum deposit limit depends on the coin or token. For instance, the minimum deposit for Arbitrum is 1 ARB. One thing to note: HashKey does not impose a maximum deposit limit.
• Crypto Withdrawal. The fees and minimum withdrawal amount are subject to the coin or token. If you're withdrawing Litecoin, you need to withdraw at least 0.15 LTC, with a withdrawal fee of 0.026 LTC. Just like a deposit, there's no maximum withdrawal limit.
• Administrative Fee (Refund). If you're an active or loyal trader, the exchange usually presents you with a small refund or a "cashback" on your trading cost. HashKey incurs a small administrative fee for this, which varies by the coin or token—Avalanche, for instance, has a fee of 0.024 AVAX.
• Trading Fee. For regular users, the maker/taker fee starts at a flat 0.29%. However, VIP members can lower the rate to 0% for makers and 0.05% for takers, with an extra 5% discount for those using HSK.
• Payment Processing Fee. HashKey doesn't charge fees for bank transfers, but if the payment is processed through an intermediary bank, additional costs may apply, determined by the bank in question.

That said, it's also worth noting that the exchange doesn't charge any custody fee. For anyone who doesn't know what that is, it charges you for storing and managing your digital asset holding. Hopefully, having all these fees laid out will be helpful when developing your trading strategies.

Earning Rewards

Who doesn't like earning rewards? I'm not going to lie, even I got my eye on them, too! The good news is that HashKey has just launched a Reward Center, aimed at new users to engage more with the platform.

If I have to describe HashKey's Rewards, they work similarly to airdrops (but mind that they're still not the same). New users can earn the following rewards by completing the tasks below:

• Complete identity verification: a reward of 10 HSK.
• Complete ≥ 10 USD first virtual asset deposit: a reward of 20 HSK.
• Complete a ≥ 10 USD worth of virtual asset trade: a reward of 10 HSK.
• Complete the "Professional Investor (PI)" Verification: a reward of 100 HSK.

These rewards come in the form of coupons, and the best part is that they do not have expiration dates. You can redeem them right away or save them for future use.

But what if you don't like to trade alone? Invite your friend over, and HashKey will reward both of you with up to 70 HSK. The procedure is quite comparable to the Reward program: completing KYC and other tasks. Regular users can invite a maximum of 10 people, but if you sign up as an Ambassador, you'll unlock unlimited invitations and earn exclusive rewards along the way.

Security

Is HashKey safe? One way to find out is to assess the platform inside and out, but worry not—I have you covered in this HashKey Exchange review. First of all, take a sigh of relief because the Hong Kong exchange is ISO-certified.

And let's be clear: ISO isn't just a certification that can be bought out—it can only be achieved through serious organizational commitment. In fact, HashKey has secured not just one but two ISO certifications:

• ISO 27001. International standard in Information Security.
• ISO 27701. International standard in Data Privacy.

Put simply, HashKey keeps your private data well out of hackers' reach. On top of that, accessing your funds won't be a walk in the park for the hackers, as HashKey stores them in segregated accounts, completely isolated from internal operations to eliminate any risk of interference.

It's reassuring to know that even hackers can't access your funds, but in this universe, some things can go beyond your control. Thankfully, HashKey protects your funds with institutional custody-grade insurance, ensuring any potential losses can be recovered.^[1]

But of course, the responsibility to protect your funds doesn't only lie in HashKey's hands, but also yours. The exchange helps with that, too, providing you with two-factor authentication (2FA) on top of the KYC.

📚 Read More: Mastering Cryptocurrency Security

Customer Support

It's hard to determine the quality of customer support until you try it yourself. However, reading user HashKey Exchange reviews can give you some clues.

The platform provides two ways to contact customer service: chatbot or email. The former is ideal if you are in a pickle and need immediate assistance, while the latter is better suited for those who don't mind a short wait.

I tested HashKey's chatbot feature, which I assumed to be AI-powered at first. Turned out this chatbot would connect you right away to a live customer agent, which, in my experience, required less than a minute of waiting time.

But what made me truly impressed was that, unlike other exchanges, HashKey only asked for my name and no additional details to connect to customer service. The customer agent can also speak in 3 languages: English (for foreign traders in Hong Kong), Mandarin, and Cantonese.

Next up, is HashKey legit in terms of its email customer service? Users can voice their concerns to [email protected]. While this email support is not available 24/7, it is still operational for a lengthy period, specifically from 8 AM to 24 AM (UTC+8).

Trading Tools

Now, the moment you're waiting for—how does HashKey deliver on the trading experience? As mentioned in this HashKey Exchange review, only spot trading is allowed for now. Still, the trading terminal can become full-fledged if you tinker around with it a bit, offering three types of view options to choose from:

• Basic Version. As you can assume from the name, it's a pretty basic and beginner-friendly chart that lets you explore price movements based on different timeframes.
• TradingView. This chart view is the most optimal for me due to the extensive trading tools available (funnily enough, there's even an emoji). Key tools like the forecast, short position, and long position make it easier to predict if a crypto price will rise, fall, or bounce back.
• Depth Chart. If you're planning to act fast, the Depth Chart presents a real-time visualization of buy and sell volumes at a given time and different price levels.

Moving on to trading pairs, the HKD selections will probably catch local traders' attention. There are 4 HKD pairs available (as of now), pegged to best-performing cryptocurrencies like BTC, ETH, USDT, and APT. Besides, there are numerous USD pairs, too.

📚 Read More: How to Read Candlesticks

After you've chosen a trading pair and analyzed the chart with trading tools, all that's left is to place an order. HashKey provides two order types: the classic Market Order and, if you prefer specifying the price, the Limit Order.

If you're considering placing a large order, access HashKey's brokerage service to enjoy personalized assistance from a professional account manager, reduced market slippage risk, and optimized capital efficiency. For a single quote, though, the minimum order size is $100,000.

Aside from the desktop trading experience, the HashKey Exchange also has a mobile app that features the same trading functionality, downloadable on both iOS and Android devices.

User Experience

HashKey's website is an eye-pleasing sight to see. The monochromatic color is complemented by a pop of purple, giving off an editorial-esque look while setting the stage for HashKey's branding. But how does this tie into the trading experience on the platform?

Quite significantly, I'd say. The role of color in influencing user experience is not a mere psychological theory. One study backs up how color schemes can enhance users' emotional connection with a platform.^[2]

Admittedly, trading can sometimes be an emotional roller-coaster. But riding through the waves of price ups and downs can be smoother if you know how to properly utilize the tools on HashKey's spot trading, which, as I've previously touched on, there are many.

To maximize your trading strategy, be sure to use a mix of internal and external tools, like BitDegree's crypto pricing tracker and Fear and Greed Index. These data aggregators capture real-time trends, pricing, and community sentiment of the crypto market, complimenting your insights with perspectives that may not be available on HashKey.

Localization and Adaptability

If you've noticed, there are two versions of HashKey: Exchange and Global. Each of them serves different markets and operates under distinct regulatory frameworks.

HashKey Exchange, which has been the star of this review, is built exclusively for Hong Kong traders. On the other side, HashKey Global is dedicated to international users.

Even the product offerings between the two differ significantly. While both are established as digital asset trading platforms, HashKey Exchange also deals with non-crypto products like forex trading. Meanwhile, HashKey Global focuses solely on crypto products, featuring more extensive services like futures, leverage trading, and staking.

Note that HashKey Global is not accessible in countries where cryptocurrencies are banned, like Mainland China. Due to internal policies, it's not available to US citizens, either, in which case, a good alternative would be a fully compliant exchange like Kraken.

Bonuses and Special Offers

Hong Kong traders can also potentially become earners with HashKey's bonuses, which are tied to the exchange's own token, HSK.

Trading with HSK, for example, will earn you a 5% discount. By raising your trading volumes, you can also lower your fee using HSK from the starting point of 0.275% to just 0% for makers and 0.047% for takers.

Moreover, keep your eyes peeled because HashKey oftentimes conducts promotional events with HSK. In the past, there have been different events involving spot trading, referrals, and more.

Binance Deal Active Right Now:

How to Use the HashKey HK Exchange

Just like Jackie Chan's action chops, it's time to put the knowledge from this HashKey Exchange review into action.

How to Create an Account on the HashKey HK Exchange

Let's start with the customary first step, registering an account. Here's what you need to do:

Step 1: Go to HashKey's website and click [Sign Up].

Step 2: Choose your preferred sign-up method: email, mobile number, or connect with Gmail or Apple Mail for a faster route.

Step 3: Depending on your chosen sign-up method, verify your email or phone number.

Step 4: Once your account is created, proceed with the KYC to start using HashKey's services. Click on your [Profile Icon] and select [Account Overview].

Step 5: Click [Authenticate].

Step 6: Review the requirements and prepare the needed details. Click [Verify Now].

Step 7: Follow the setup wizard to complete your identity verification. Mind that HashKey's online identity verification requires a 1,000 HKD transfer. If you want to skip this, proceed with the offline verification process at HashKey's Hong Kong office.

How to Deposit on the HashKey HK Exchange

Once your account is verified, I'll show you how to deposit on HashKey, this time via mobile:

Step 1: When you're in Home, click [Deposit].

Step 2: Choose to deposit between crypto or fiat.

Step 3: Before making your first deposit, whitelist your address deposit to comply with HashKey's regulations.

Step 4: Once you've configured the address, enter how much you'd like to deposit.

Step 5: Complete the deposit by scanning the QR code.

How to Withdraw on the HashKey Exchange

Have you completed your first trade? Then time to withdraw your hard-earned profits. This time, let's go back to the desktop version and see how to withdraw from there:

Step 1: Click on [Assets].

Step 2: Decide which account to withdraw from. Then, click [Withdraw].

Step 3: Before withdrawing for the first time, whitelist your withdrawal wallet address. Simply follow the prompts on the screen.

In this particular step, you'll be required to:

• Select a corresponding asset and network;
• Enter your wallet address;
• Sign a specific text and paste the signature result into the input box;
• Complete 2FA.

Step 4: Once your withdrawal wallet address is whitelisted, select the asset, network, and address all over again. Then, fill in the withdrawal amount. Click [Submit].

Step 5: Review your withdrawal request and finalize by clicking [Confirm].

Note that to complete your withdrawal, HashKey will ask you for another round of 2FA.

Comparison to Other Popular Exchanges

It is clear that HashKey is a secure, trusted, and compliant exchange. But if you see that it falls short in some criteria, take a look at the following exchange recommendations and see if they can complement any lackluster in your evaluation.

HashKey Exchange VS Binance

On par with HashKey, Binance is well-received by Hong Kong locals. Being the No. 1 crypto exchange, though, its influence goes far and beyond, reaching the global scale. But why is Binance ahead of its peers? For one, Binance supports 600+ cryptocurrencies, surpassing HashKey's rather shy selection of just 20+.

While HashKey just dabbles in spot and brokerage trading, Binance offers a lot more. From P2P and margin to futures trading, you'll rightly find them on this exchange.

Binance isn't modest in its earning programs, either. The exchange even dedicates an "Overview" page to showcase all its earning products, from which you can choose between Simple, Dual, or Advanced Earning methods.

Plus, if you find that learning goes well with earning, check out Binance Academy—though BitDegree's Missions, in my opinion, offers a more engaging gamified experience.

📚 Read More: Binance Review

HashKey Exchange VS Kraken

If I say Kraken, an image of a giant squid might appear in your mind, but I'm actually referring to one of the largest exchanges on the planet right now, processing a daily trading volume of around $1 billion.

Paraphrasing the great Uncle Ben, huge trading volumes come with a huge responsibility. That's why Kraken is doubling down on its security. If HashKey has earned ISO certifications, Kraken has also secured the ISO 27001 certification and completed the SOC 2 Type 1 Examination. In simple terms, Kraken is committed to protecting your sensitive data from unauthorized access.

Best of all, no matter where you are with your trading experience, Kraken offers a comprehensive suite of trading, earning, and staking features tailored to your skill level.

📚 Read More: Kraken Review

HashKey Exchange VS OKX

Don't you just sometimes want to seamlessly switch between CEX and DEX trading? Well, you can do so on OKX.

Different from HashKey, which is primarily a CEX, OKX is a hybrid exchange. From here, you can probably get the gist that OKX comes stacked with more features.

Interestingly, OKX also has pre-futures trading, allowing you to trade promising crypto projects before their official launch while accessing 2x leverage.

From my observation, though, where OKX wins is in its robust offerings for institutional traders. The platform hits it out of the park with its liquid marketplace, APIs, broker program, institutional insights, and more.

📚 Read More: OKX Review

Pros

• Secure and reliable
• Low fees
• A good amount of fiat currencies accepted

Main Features

• Reputable exchange
• Multiple fiat currencies are accepted
• Relatively low trading fees

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions: Is HashKey Right for You?

Hopefully, this HashKey Exchange review is the guiding compass you need to turn you in the right direction. The Hong Kong exchange offers quite a lot of crypto and forex trading opportunities for retail, professional, and corporate investors.

These exchanges stretch beyond providing spot and futures trading, incorporating a variety of rewarding and business-focused products.

Once you've made a decision about which trading platform to go with, it's time to take action and trade like a pro—Jackie Chan style!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Zuckerman A.: 'Insuring Crypto: The Birth of Digital Asset Insurance'.

2. Ahmad S., Moshayeri A.: 'The Influence of Color Schemes and Aesthetics on User Satisfaction in Web Design: An Empirical Study';