HiBTC is probably a scam. I haven't heard much about it lately but there was a story about it scamming people and from then on silence. Try searching about it here or on Reddit and all you'll find is about it being a scam.
It is not a scam. I have buyed over 2 bitcoins from there with no problem. I dont know about other people, but everything worked smooth for me. They are Europe located, and I do too, so I think that would be the best exchange for me.OK finally, the customer support was able to tell me what was wrong: I have to move my funds to the "Trading" account first in order to trade.
So OK. Given I cannot withdraw USD from them without a huge hassle.
Why not just sell bitcoin for the (now ~260+ USD) higher price and
then buy something that you can withdraw with that extra money?
So I tried this:
I tried to arbitrage the higher bitcoin price there and transfer it out using litecoin.
.1 BTC *250 USD 1 LTC 1BTC 225USD
____ ____ _____ ____ = 0.09958472 BTC
1btc 1.5 USD .00619LTC 1BTC
Where did I go wrong?
Why don't I have 11% more BTC after doing that conversion?
Edit: looks like all currencies are more valued at HitBTC not just bitcoin. So litecoin is also proportionately more expensive there as well.