Bittrex Review 2021 and a Definitive Guide to Using the Popular Crypto Exchange

This could have been as a result of the massive influx of new users that they were getting. In fact, there was a period in which they actually had to halt new users due to the influx. This means that if you want to start trading on Bittrex you will have to complete their mandatory KYC and AML checks. For the basic level of verification, you will need to provide them with a copy of some form of government issued ID.

  1. Users can log in to their trading dashboard on desktop or through the Bittrex mobile app, available for Android and iOS.
  2. Even though they have an advanced web-based platform, there are quite a few traders who would like to access their account while away from the desk.
  3. According to CoinMarketCap, as of August 9th, 2021, Bittrex is the 16th biggest exchange when it comes to trading volume.
  4. But, as time has gone on, its offering has increased, making it one of the most popular exchanges in the world.
  5. Bittrex believes that, for cryptocurrencies to reach their full global potential, people need to be able to trust them.

CoinSutra writers are not certified financial advisors or brokers. Cryptocurrency activities like purchasing, trading, holding, and selling have inherent risks. CoinSutra and its writers are not responsible for any investment losses from acting on website or social media content.

While the order book interface is Bittrex’s primary offering, the exchange also supports instant buys using a bank card or an account balance. However, while instant buy is easy to use, it features no charts or trading pairs, making it only usable as a beginner-friendly fiat-to-crypto gateway. Bittrex is an exchange that gives you access to a wide selection of crypto markets. After you sign up for an account, you can buy, sell, and trade cryptocurrency.

Locate the Trading Pair You Want to Trade

Bittrex has one main service it provides which is its trading platform. The platform lists a wide variety of currencies and allows for standard spot trading orders to be executed. While support options lack phone, Bittrex does offer a relatively useful help center where users can get answers to common questions.

That, however, is an unfortunate truth for almost every Bitcoin exchange out there. Bittrex has in place an elastic, multistage wallet strategy that always keeps 80%-90% of funds safely offline. Bittrex is a US based exchange founded in 2013 and headquartered in Seattle Washington. The company was founded by Bill Shihara, Richie Lai and Rami Kawach, all three previously worked at Microsoft.

If this is important to you then, by all means, stick to Bittrex, but if not, perhaps the latter is a better option to consider. Despite the negative feedback Bittrex has received, some users have positive things to say. Customers appreciate its wide selection of assets and its security features. Bittrex does offer a great selection of cryptocurrencies and stablecoins. Not all are available for fiat purchase, but a decent amount of them are offered. This exchange is available in 46 U.S. states, excluding Connecticut, New Jersey, Hawaii, New York, and Vermont.

They note that Bittrex lists a wide range of cryptocurrencies and has introduced fiat funding, allowing users to easily convert fiat currencies into altcoins. The author also discusses the potential drawback of some coins having thin volume and liquidity. No email notifications of log ins or withdrawals were received by me .

Supported Countries

Bittrex provides a modern trading interface that is well laid out and easy to use for beginners and experienced traders alike. In addition, the charting features are powered by TradingView, one of the best crypto charting sites in the industry. 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.

The platform has hundreds of supported assets, with a focus on crypto-to-crypto trading pairs. Users will also appreciate its robust security features and the option to place advanced orders. Bittrex receives negative feedback overall from its users, and it has an average rating of 1.3 out of five stars across over 490 Trustpilot reviews. Users report issues with account lockouts, frozen assets, and problems with identity verification. Unfortunately, these concerns are common across many cryptocurrency exchanges and aren’t unique to Bittrex.

Bittrex Top Features Reviewed

Bittrex is a US-based cryptocurrency exchange that has grown in popularity in recent years. In the following post, I will review the exchange, its services, and also the main issues you should be aware of. Bittrex was founded in 2014 by engineers Bill Shihara, Richie Lai, and Rami Kawach, and is headquartered in Seattle. This exchange initially offered only crypto-to-crypto trading, but it recently introduced fiat-to-crypto trading as well. However, it’s worth noting that its fiat trading program is relatively new, so trading pairs are limited and fiat trading isn’t available everywhere.

What currencies can I use at Bittrex?

I like the writing style in this Bittrex review, not trying to suggar coat anything. The platform is great, especially of beginners, but it’s not flawless. When your bid is accepted your new currency will be sent to your Bittrex wallet.

Bittrex, on the other hand, has far less complaints from the community. We’ve personally also never had an issue with Bittrex support. They are also far more active on social media, quickly posting updates and relevant news for users. Traders who need an even bittrex review wider selection of tradable coins should have a look at Coinbase or Crypto.com. For those looking to make crypto a sideline to more traditional trading and who need only the most popular coins, TradeStation and Interactive Brokers are worth comparing.

Fortunately, some cryptocurrency exchanges have proven to be efficient, secure, as well as accessible at any time. One exchange that has showcased that it can be one of the best in the market is Bittrex. Kraken offers lower fees and a wider variety of assets and account features. The Bittrex trading platform has quite a bit of information and features.

So, if you’re looking to buy crypto on your mobile, the Bittrex mobile app is pretty solid. But, if you’re looking to dabble in leverage trading, it’s a decent way to get your feet wet and practice your strategy. At the moment, Bittrex does offer leverage trading, but only to customers residing outside of Europe and the USA. This feature allows you to set IP addresses that are allowed to access your account. Your crypto is only as secure as your weakest security point, and this is where a lot of people go wrong.

As such, while Bittrex is a reasonable spot exchange, better international and US cryptocurrency exchanges are available. There has not been any hacking incident in the history of Bittrex so far, making it one of the safest exchanges today. As more cryptocurrencies are added to the market, and as more people become interested in them, it is important to have trusted sites where you can easily buy and sell them.

Indeed, recent history is littered with a number of high-profile exchange hacks. Fees are another aspect covered in the review, with the article explaining that Bittrex charges a flat rate fee of 0.25% for all transactions. They mention that while this fee structure is simple, it may not be beneficial for users who trade large volumes and act as market makers. Bittrex has recently unveiled its staking services, which allow users of the exchange to earn rewards on their crypto holdings. Currently, Bittrex has staking rewards on Cardano (ADA) at a rate of 5.5% APY.

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