Bittrex Review: Safe Crypto Exchange? This You NEED to Know

We also liked Bittrex’s market navigation panel, which makes it easy to locate the coins and trading pairs that you want to trade. The platform gives you access to the Bittrex order book, as well as trade history, open orders, and closed orders. So, you can easily monitor changes in buying and selling activity in the crypto market in real-time. However, if you’re depositing cryptocurrencies to the exchange, you will need to pay a transaction fee for using the coin’s blockchain network.

Poloniex Features

If you’re just getting started and need a wallet recommendation, usethebitcoin.com has an awesome article on the 9 best crypto wallets. Bittrex isn’t beginner friendly and certainly not the most accessible, but for professional traders, it is exceptional. Tight security, fast trades, every currency imaginable, and low fees are everything a trader could want.

Listed Bittrex crypto exchange assets

As such, Bittrex is an excellent platform for technical traders needing to plot complex strategies. The costs accrued when using Bittrex are significantly higher than larger exchanges like Binance, ByBit, and Crypto.com. However, as Bittrex uses a volume-based structure, traders with significant capital can enjoy reasonable fees. Below, we’ve highlighted how Bittrex compares to a few other popular exchanges in terms of costs.

Explaining the Bittrex Platform

Still, it’s nice that Bittrex has a referral program — and that you’ll get a cut every time your referrals make trades. It didn’t bother me as a beginner, but since starting bittrex review to trade more it ads up over time. Go to the Bittrex homepage and click on LOG IN and then SIGN UP. You’ll be asked to enter your email address and choose a password.

• I have over 800 USD worth of cryptocurrency, but customer support has been unhelpful and shows no intention of assisting me.
• Even if you make good predictions and steadily build your asset base, transaction fees can eat into your profits by a large margin.
• On the exchange coin management side, Bittrex claims that they operate what is called an “elastic, multi-stage wallet strategy”.
• Bittrex is a US-based spot exchange that offers a simple way to buy and sell 573 cryptocurrencies.
• Peter has been covering the cryptocurrency and blockchain space since 2017, when he first discovered Bitcoin and Ethereum.
• Every time a trader logs into their account or attempts to perform a transaction on Bittrex, 2FA will be required.

Cryptocurrency selection

Bittrex does not offer Polygon, Solana, Polkadot or Shiba Inu – all top 20 coins, as of this writing, according to CoinMarketCap. If that’s what you’re in the market for, then those missing coins are likely a deal-breaker for you. Still, you may find a more obscure coin further down the ranks that Bittrex does offer, and that could be a key driver for choosing to trade on this exchange. But if you want to trade some other popular currencies, you may be out of luck here. With just one cryptocurrency available in the staking options, it’s slim pickings.

Bittrex Review: Complete Exchange Overview

There extensive range of cryptocurrency assets coupled with the fiat funding option will allow traders to make the most of their highly advanced trading platform. Bittrex is probably one of the more advanced cryptocurrency exchanges on the market today. We liked the fact that the exchange is US based and has some of the most secure protocols in place to keep hackers at bay. They also state that the majority of their coins are kept in cold storage. This is one of the most important requirements for cryptocurrency exchange security.

Bittrex Review: Is Bittrex Safe?

However, its reduced charting capabilities versus the web platform will be problematic for users looking to perform technical analysis and trade using a single app. Unfortunately, Bittrex doesn’t support margin trading, making it difficult to take advantage of small changes in price without a sizable amount of capital. Customers can use drawing tools and technical indicators to find opportunities and switch between pairs without their analysis disappearing.

• Users with enhanced accounts can withdraw up to 100 BTC per day.
• Both are great options for traders, but one is firmly ahead of the other in the community.
• With a broker, users buy and sell their crypto directly with the broker at a set market price rather than trade with each other.
• It allows users to speculate on the potential rise in the value of many prominent stocks.
• The easiest and quickest way to do this is probably through crypto funding of some sort.
• Bittrex supports the U.S. dollar and the Euro as fiat currencies.

Categorised in: Cryptocurrency exchange

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