HitBTC wallet

What is HitBTC (HIT)?

HIT is the utility token of the centralised trading platform of the same name, issued as an ERC-20 on Ethereum. Its purpose is tied to the platform that created it: fee-related benefits and access to features for account holders there. That single fact shapes everything about holding it.

An exchange token is two things at once. On-chain it is a completely ordinary Ethereum token - your address holds it, you move it with a normal transfer, you pay ETH for the gas, and nobody needs permission to send or receive it. Off-chain, its usefulness depends on an account on the issuing platform remaining open and on that platform continuing to honour whatever the token entitles you to. Withdrawing HIT to your own wallet keeps the asset in your hands but does not carry the account-side benefits with it; those apply while the balance sits under your account there.

So the decision is really about which risk you want. Left on the platform, the token is a database entry someone else controls. Withdrawn, it is yours outright, and you deposit it back if and when you want to use it on the platform side.

When you choose the second path, the point is that the key is genuinely yours and stays that way. A Tangem card generates its key inside the chip and never exports it, and your backup is a duplicate card rather than words on paper - you can add a seed phrase if you want, but nothing requires it. Moving an exchange-issued token out and into a key that has never touched an internet-connected device is the whole reason to withdraw it in the first place. Supported networks in Tangem (1): Ethereum.