Bittrex Cryptocurrency Exchange Review : Pros & Cons

About Bittrex

Bittrex is a global cryptocurrency exchange for active crypto enthusiasts and real-time trading. The platform provides users with a wide range of listed tokens, a sleek and user-friendly interface, a dedicated Android and iOS app, low fixed fees, referral programs, industry-leading security, advanced trading features, and multiple order types, with limit orders, stop orders, advanced charting tools, live order books among them.

Initially, the exchange was focused on crypto-to-crypto trading, and in 2022 the feature to support  fiat currency was added, so fiat-to-crypto trading became available to users as well. Currently users can purchase digital coins with fiat currencies like USD and EUR. The creators also made sure that novice users were not left behind and added educational content for industry beginners.

Information Table

How To Register At Bittrex Exchange ?

To register on Bittrex, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Bittrex Cryptocurrency Account ?

There is no mandatory verification at Bittrex, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Purchase Price. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bittrex, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Bittrex Crypto Exchange?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Bittrex Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Bittrex Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Bittrex Fees

The exchange applies a Maker-Taker fee structure for transparent user costs. Trading fees on the platform start at 0.35%. Bittrex gives volume discounts based on previous 30-day trading volume.

Transaction fees

Specific blockchain network fees may be incurred when a user moves tokens on the blockchain to and from Bittrex Global.

• Deposits: Bittrex Global does not charge fees for deposits. Please be aware that some tokens or coins require us to move your funds to another address before being credited. This means the coin or token’s network will charge you the normal transaction fee for the fund transfer, which Bittrex Global cannot avoid.
• Withdrawals: Bittrex Global charges a small fee on withdrawals for a token or coin with a built-in network transfer fee. The network fee is view-able by clicking the withdraw button on the withdrawal window for each token or coin.

Trading fees

Bittrex Global offers its customers some of the lowest trading fees in the industry. The trading fee schedule below provides the applicable rates based on the customer account’s total 30-day volume.

Bittrex Global customers benefit from a fee schedule that offers lower rates as users trade more. The more you trade, the more you save. Trading fees are incurred when an order executes or (“filled”) on the Bittrex Global matching engine. The buyer and the seller are each charged a fee based on the total price of the executed order. The fee (commission) charged by Bittrex Global on each executed trade is calculated by taking the (amount * purchase price * rate) for the given trade. There are no fees for placing an order which does not execute.

How is my 30-Day Volume calculated?

Bittrex Global calculates the 30-Day Volume on a daily basis, updating each account’s volume calculation and trading fee schedule between the hours of 00:30 UTC and 01:30 UTC each day.

Instant Buy/Sell

Bittrex Global charges approximately a 0.9% spread on stable coin purchases and sales and approximately a 1.75% spread on all other cryptocurrency purchases and sales. However, the actual spread may be higher or lower based on market conditions, and is subject to change. Markets may be added or removed at Bittrex Global’s sole and absolute discretion.

Features Of Bittrex Crypto Exchange

Available At Android & IOS Store

Bittrex Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Large selection of cryptocurrencies

Bittrex offers a wide range of digital assets for trading, including Bitcoin, Ethereum, and many other altcoins.

High liquidity

Bittrex has high trading volume, which helps to ensure quick execution of orders and minimal slippage.

Advanced security measures

Bittrex implements strong security measures, such as two-factor authentication and SSL encryption, to protect users’ assets.

User-friendly interface

Bittrex provides an easy-to-use interface that is suitable for both novice and experienced traders.

API support

Bittrex provides API support for algorithmic trading and other advanced trading strategies.

Mobile app

Bittrex offers a mobile app for convenient trading on the go.

24/7 customer support

Bittrex provides 24/7 customer support to assist users with any questions or issues they may have.

Security First

When choosing an exchange, trust matters That’s why security has been and will always be your top consideration. Your platform was built from the ground up with multiple layers of protection, deploying the most effective and reliable technologies to keep funds and transactions secure.

Transformation That Goes Way Beyond Simply Great Trading

They believe in the potential of blockchain to provide groundbreaking solutions across industries and beyond crypto. They are working with teams around the world to advance new, inventive tokens that can transform the way goods, services and operations are managed everywhere.

Fast, Robust Technology

Your trading engine was custom-built for scale and speed to facilitate real-time order execution under heavy demand. They support third-party trading platforms and algorithmic trading via your extensive APIs.

24/7 Live Chat

If you’re awake, they are too. When you need help, your team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

Bittrex Conclusion

Bittrex is a popular cryptocurrency exchange that offers a large selection of cryptocurrencies, high liquidity, and advanced security measures. However, it also has some drawbacks, including high fees, limited payment options, slow customer support response times, and reports of account verification issues. Overall, Bittrex may be a good choice for experienced traders who prioritize security and a wide selection of coins, but may not be the best option for those who are looking for low fees and quick customer support. As with any exchange, it is important to carefully consider your own needs and to thoroughly research and compare different options before making a decision.