Wondering which crypto trading platform can be trusted? Which exchange offers the lowest fees and has good customer support?
Bittrex is a next-generation crypto trading platform built and operated in the United States by crypto enthusiasts with extensive development and security backgrounds.
The company provides access to many leading blockchain tokens via a sophisticated platform designed by experienced professionals in the cryptocurrency space. Bittrex has over 200 token pairs available for trading, providing both individuals and businesses a world-class experience to buy and sell cutting-edge cryptocurrencies seamlessly.
Today we are going to look at what Bittrex has to offer and why it might be a good fit for you.
Based in the United States, Bittrex is a cryptocurrency exchange specializing in the trade of crypto pairs.
Bittrex allows users to purchase, trade, and sell coins across a variety of 200 cryptocurrency trading pairs (such as ETH-BTC), but only 57 cryptocurrencies are available for direct buy with fiat money.
Bill Shihara, Richie Lai, and Rami Kawach, three cybersecurity engineers who previously worked at Microsoft, launched the company in 2014.
The company has since then grown to become one of the top cryptocurrency exchanges in the world.
Pros
- Competitive fees
- Adequate liquidity.
- Available in over 200 countries
- High level of security
- Over 200 trading crypto pairs
Cons
- Interface might be challenging for novices.
- Not available in all U.S. states
- Bittrex does give staking rewards, but they’re only available for Cardano.
What is Bittrex?
Offering more than 190+ cryptocurrencies to trade, including Bitcoin, Ethereum, Cardano, Stellar Lumens XLM, Ripple XRP and many more. Trade popular coins with up to 200x leverage or short them using margin trading.
Expect cutting-edge trading engine technology to provide you with lightning fast execution speeds so you can get in and out of the market as quickly as possible!
Create a free account with Bittrex here.
Fees
There is a mandatory 0.2% fee on all trades (maker and taker), though discounts are provided for financial organizations and organizations with large orders.
Compared with other exchanges such as Binance and Kraken, trading fees are not the most costly and are certainly not among the cheapest.
The exchange doesn’t charge on cryptocurrency deposits and flat deposits, but there are network fees on each blockchain.
These aren’t controlled by Bittrex but are charged to get back the cost of the user withdrawing and depositing their coins.
Supported Countries
Bittrex is presently accessible in only 46 U.S. states, with the exception of Connecticut, Hawaii, New York, and Vermont. Bittrex Global is also available in over 200 countries across the world for international users.
US law restricts Bittrex from doing business with residents of North Korea, Iran, the Crimean region, Syria, and Cuba.
It has also been noted that the following countries do not have access to: Afghanistan, Egypt, Bosnia and Herzegovina, Cambodia, the Central African Republic, the Democratic Republic of the Congo, Ivory Coast, Tunisia, Ethiopia, Uganda and Yemen.
Usability
The exchange was updated in 2019 with attention to speed and security. The overall design also had a makeover as it is now very easy to navigate and allows for the addition of new features such as the USD and the EUR markets.
Users have heralded these changes, as automated trading features operate seamlessly, providing options such as stop-loss, instant buy/sell, good till cancel orders, limit orders, market orders with all the standard technical tools every trading platform must possess.
There is no lag or hanging, which makes for a delightful user experience.
The list of markets supported on is displayed on the main dashboard, accompanied by the price overviews and the daily percentage change in price and volume.
This provides a lot of information to the user at a glance in a simple yet efficient manner. All these automated monitoring systems make it much faster than most other cryptocurrency exchanges.
You will also find available as an app on Android and IOS devices. From here, users can deposit, withdraw and trade on the go.
Customer Support
Its main support is on Zendesk, where users can get FAQs, mobile app guides, feature requests and much more.
However, public perception has been poor due to accounts being suspended for review, which has led to frustration among the owners of these accounts who have taken their grievances online to several BTC forums.
Apparently, this has been going on for a while, with little to no response from the Bittrex team. It may be the safest crypto exchange out there, but the strict security inconveniences the users.
Bittrex alternatives
Bittrex is the third-largest cryptocurrency exchange in the world, with a total market capitalization of 1.7 billion USD.
The exchange is quite popular among cryptocurrency traders, with over 200 different coins available for trading.
If you can’t find what you are looking for on Bittrex, other popular crypto exchange alternatives to Bittrex are Uphold and Coinbase.
Uphold is one of the most popular options for users looking to buy XRP, but the company provides access to a wide range of additional cryptocurrencies as well as metals and stocks.
Coinbase is probably the most popular exchange available in the United States as it allows users to buy Bitcoin, Ethereum and Litecoin with a credit card instantly. It’s been around for years and considered one of the safest options for new cryptocurrency traders looking to buy their first coins.
See Uphold vs Coinbase to learn more.
Bittrex Compared
Conclusion
Bittrex is a fast, safe, and robust exchange that is easy to use. While leveraged trading isn’t supported, you have the freedom to withdraw coins directly to your account.
The updated user interface and experience make for a seamless trading experience. The occasional freezing of accounts can be an issue, so it’s best to only deposit coin you would be okay losing for a while in case your account gets frozen.
The customer support also leaves a lot to be desired at times due to the minimal action taken by the support team as regards the unfreezing of accounts.
Even though it is rare and unlikely to happen it’s still important to keep your head on a swivel and don’t do anything that will draw them to take such action.
The exchange is highly popular and supported by it’s users all over the world and is a leader in the space with exceptional security practices to give you best protection.
