Bittrex Review

Bittrex is a US founded cryptocurrency exchange. It was founded in 2014 and has headquarters in Seattle. They offer over 220 cryptocurrencies and allow traders to directly purchase cryptocurrencies using US dollars. They have a powerful platform and give traders peace of mind when it comes to security as they have never been hacked. Bittrex global, a branch of Bittrex, is based in Lichtenstein and serves international clients whilst Bittrex focusses on the US market.

Overview

Nationalities US clients allowed
Account Funding Depends on Coin 
Is a corporate Account Possible?         YES
Sign Up process FAST
Funding options Crypto Transfer, Bank transfer
ICO Available 
Amount of coins 220+
If leveraged trading is available? YES

Regulation and Trust

Bittrex takes the safety of their clients seriously and has so far not been hacked. They make use of an elastic, multi-stage holding strategy to make sure the majority of funds are kept in cold storage. They also make use of two-factor authentication to further ensure the safety of clients. Whilst Bittrex is not regulated under US securities law and are not FDIX insured, they do comply with all current EU and Liechtenstein regulations.

Commissions & Fees

Bittrex makes use of a tiered fee system, favoring those who trade a larger volume. The base rate is 0.20% for both maker and taker. This rate reduces to 0% for the maker at $60M+ and 0.8% for taker at $50M+. In terms of withdrawal and deposit fees, Bittrex does not charge for cryptocurrency deposits. However, they do charge for withdrawals with the prices varying based on the cryptocurrency type. Bittrex offers competitive rates but is certainly not the cheapest, especially for low volume traders.

Community

Bittrex has an ever-expanding client network offering fiat trading is 44 US states and Puerto Rico. They have also assisted with launching trading platforms in Hong Kong, South Africa, the UK, Uruguay, Macau, Vietnam and Liechtenstein. In 2020, after only 6 years of trading, they recorded 9.1 billion trades placed, 581.8 million trades completed and opened 1,196 markets.

In terms of their social media presence, Bittrex has dedicated social media pages for both Bittrex and Bittrex Global. Bittrex has a following of over 65 thousand people on Facebook and over 775 thousand followers on Twitter. Bittrex Global have a smaller following of 1986 people on Facebook and 19300 followers on Twitter.

User Experience

Bittrex offers two different versions for US and global clients which come with different user experiences. US clients have access to fewer assets compared to global clients. However, overall the Bittrex interface is straightforward and user-friendly. Their automated monitoring system also means that clients benefit from fast deposits and withdrawals. They also offer a great on-the-go trading mobile application which allows clients to perform all the same features as the web platform.

Functionality and Tools

When making use of the Bittrex trading platform, users have access to charting tools by Trading View which makes use of real-time data. A great feature that Bittrex offers is the ability to trade directly on the charts. The trading platform itself is customisable, with different options for layouts and themes. Their mobile application allows users to implement conditional orders as well as stop-limit orders.

Trading Platforms

Bittrex offers a web-based trading platform as well as a mobile trading platform. Users are also able to trade through the Bittrex API. This allows traders to make use of bots and other custom systems. Their mobile application is great for trading on the go and can be downloaded for both iOS and Android devices. The android app has a 2.9 star rating on the GooglePlay store and has been downloaded more than 50 thousand times. The iOS version has a 4.3 star rating on the Apple App Store.

Summary

Bittrex offers a robust and user-friendly trading experience with access to a variety of coins. They are also constantly innovating and taking into consideration the needs of their clients. Users can expect lower fees, an enhanced trading experience with more features and customer rewards in 2020.

Bittrex is a US founded cryptocurrency exchange. It was founded in 2014 and has headquarters in Seattle. They offer over 220 cryptocurrencies and allow traders to directly purchase cryptocurrencies using US dollars.