Last Updated on 5 November 2023 by CryptoTips.eu
Bittrex Review (2024)
Bittrex is a crypto-to-crypto trading exchange located in the United States. It is one the first cryptocurrency exchanges in the world and they have a lot of experience the financial market. We did a thorough research on this exchange. You will find the ins and outs of this platform in this Bittrex review. After reading this full review, you can decide about trading on Bittrex is safe or not. We have developed a rating system on this platform, you can leave your reviews about the exchange on this platform at the end of the article.
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Bittrex | Details |
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More than 190 cryptocurrencies available OK fees, not more than 0.20% Built-in wallets Used by millions of customers |
Bittrex alternative
There are a couple of secure and reliable exchanges available on the internet that can be considered as a Bittrex alternative. Are you looking for a cryptocurrency exchange that offers you easy payment methods? You can deposit euro or dollar at Bittrex, but only with a credit card (3% + 2.5% fee) or with bank transfer (takes a long time).
A good alternative for Bittrex is the Bitvavo exchange. Here you have easy payment methods like iDEAL (free), Bank Transfer (free), Bancontact (free), MyBank (1.5%), EPS Überweisung (1.75%), SOFORT (2.25%) and Giropay (1.75%).
You can buy more than 58 currencies with built-in wallets and they charge a very low fee (0.25%). The exchange has a good reputation all over Europe. You can click below on active deal and trade your first €1000 for free.
Claim €10 Free Crypto and Trade €10.000 For Free at the Bitvavo Exchange
What is Bittrex?
Bittrex is a cryptocurrency exchange located in the United States. With a headquarters in Seattle and Washington state. A professional team of cyber security engineers, Rami Kawach, Richie Lai, Ryan Hentz, and Bill Shihara founded Bittrex in 2014. All these guys have more than fifty years of experience related to security concerns. Which is an important factor in the crypto scene. The team has vast experience in developing companies like Qualys, the famous cellphone manufacturer Blackberry, and the world’s hottest online shopping store Amazon. Bittrex is considered one of the most well-established cryptocurrency exchanges in the world.
The security of your cryptocurrency is the key objective of Bittrex. The founding team saw the incidences of exchanges hacking and decided to use their skills to build a safe and secure platform that the users can trust. In 2018 a well-established Japanese cryptocurrency called Coincheck was hacked. The platform lost more than half a billion coins. This is one of the reasons Bittrex stepped in the cryptocurrency game to make the investors’ money secure.
You have a ton of choices for cryptocurrencies on Bittrex. There are more than 190 different cryptocurrencies available on the platform for trading. Bittrex offers the option of more than 500 unique pairs of crypto to traders to choose from on the platform.
Just for your information, the daily trading volume of Bittrex on a day is more than 250 million dollars. If you look at the number of trades performed on this platform on a single day, this is counted to more than 55 million.
So, now you know that the founders of this platform are working hard to make this website a success. And that the platform is used by a lot of traders worldwide.
Advantages of Bittrex
Why should you choose for Bittrex?
- Sophisticated and efficient platform
- Security is top priority and they have in-house experts
- A maximum maker and taker fee of 0.20%
- Bittrex does not charge fees on withdrawals and deposits
- Mobile app for iOS and Android
Bittrex listed more than 190 cryptocurrencies for you to trade. This enables buyers to trade older as well as newer cryptocurrencies. Elastic computing enables Bittrex to process trades at a much faster rate than most of the well-known cryptocurrencies.
How to create a Bittrex account?
Creating an account on Bittrex is not complex. It is easier than you think. You will be able to create your trading accounts in minutes. Below you will find the step by step process to create an account easily.
- Go to the Bittrex home page
- On the signup page enter the login credentials. Enter your email address and password. Make sure that you choose a strong and safe password
- The referral code can be: 3CK-KZ5-3CF
- Once the account is created you will receive an email on the registered email address to verify your account. Click on the link and verify the account.
Bittrex verification
To verify your account to the basic level, you have to do the following:
- Click on Account and Identity Verification
- Choose your country and select the ID type
- Take a photo of your identification document and a selfie with you holding your ID
Within a few minutes your application will be processed and you will see if it was successful. If you want more security, you can turn on the two-factor authentication. For this go to Account and select Two-Factor authentication.
Create a free Bittrex Global account and start trading
How does Bittrex work?
Bittrex is a crypto to crypto trading exchange. So, to trade on this platform, you need cryptocurrency. If you already have a cryptocurrency in your external digital or hardware wallet you can transfer that to Bittrex. If you don’t own cryptocurrency, you can buy cryptocurrency using fiat currency at Bitvavo. Please see the guide to buy crypto here. Once you have the cryptocurrency you can transfer it to Bittrex.
How to place an order:
- Make sure there is some cryptocurrency in your wallet
- Click on Markets and select your favorite trading pair
- At the right side you can open a buy or sell order
- To place a limit buy order, fill in the desired price and amount and click on Place buy order
- Repeat this proces for every other ordertype
Bittrex keeps the least amount of user information as possible. Also, to make the platform safe and secure it uses Jumio. Jumio can verify more than 100 million people in 200 countries around the world. This reduces the user information to a residential address, date of birth, and officially registered name of the user.
Bittrex is based in the United States. This makes Bittrex follow American laws rigorously. It follows the anti-money laundering required by the US government. This law is designed to stop financial crimes and other fraudulent transactions.
Bittrex is working hard to maintain the quality of the listed currencies. The team makes sure that the source codes of the new currency are analyzed to check the credibility of the currency.
Bittrex fees
The Bittrex fees are based on your 30-day trading volume, just like at Binance. When you trade more, you pay less fees. The fees are relatively high in comparison with Binance. Not a lot people have a trading volume of 1 million dollar each month.
Is Bittrex safe?
Bittrex team consists of professional cyber security engineers. It is one of the main objectives to make the platform safe and secure. There is no doubt that Bittrex is considered one of the most secure cryptocurrency exchanges available in the market. Bittrex is designed to keep more than 85% of its currency in secure offline storage. This is known as the cold storage of cryptocurrencies. This is one of the reasons that to this date Bittrex has never been hacked. All of its customers are very happy with the safety of this platform. They have the peace of mind about the security of their investment.
Bittrex always uses two-factor authentication to process its transactions. Two-factor authentication means a user has to provide two different kinds of information before the platform permits the transaction.
In the world of cryptocurrencies, finding a safe and secure platform is as important as oxygen for human beings. Bittrex is very secure and safe. It is one of the best legit trading platforms available on the internet.
Create a free Bittrex Global account and start trading
Did you trade crypto at Bittrex and would you like to share your review? You can do so by using the evaluation form below.
Contact Details:
Bittrex Inc
9716 178th Place Northeast
Suite 103 Seattle
WA 98104
United States
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I am having a terrible experience with the customer service. Still no access to my coins for 15 days after having sent them from Bittrex to Binance but Binance refunded them back to Bittrex. Very frustrating.
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