Bittrex | Business24-7

Braden Chase

Updated: 7 March 2023

Published: 4 March 2023

Page Summary

Bittrex is a centralized cryptocurrency exchange. It has a daily trading volume of $300 million. Bittrex has an outstanding reputation and offers premium safety measures. It is a crypto-to-crypto exchange for traders at all levels.

Review Summary: 

Bittrex is a popular cryptocurrency exchange with industry-leading security measures.
It has a transparent fee structure with low, fixed fees.
It offers fast exchanges with secure transactions.
It provides access to crypto and fiat currencies.

Bittrex Overview:

Bittrex is a leading cryptocurrency exchange for all crypto enthusiasts. It was founded in 2014 and became a trustworthy place for digital trades. It serves traders in the US and abroad, including UAE residents. Bittrex has 100+ coins available, including Bitcoin and Ethereum.

This exchange has a $3 minimum with fees ranging from 0% to 0.35%. Bittrex offers instant buy/sell orders and institutional trading. Bittrex account holders receive access to leading safety measures, including two-factor authentication. Bittrex is an excellent choice for crypto enthusiasts looking to trade Bitcoin on a secure platform.

Trading Experience

Bittrex is a centralized blockchain crypto platform. It offers digital wallet services, advanced security, and automated trading. Bittrex has three order types: limit, market orders, and stop-limit orders.

This exchange has a proprietary platform available on iOS and Android devices. The app has a simple interface, but it might be challenging for new traders. Bittrex has limited educational resources. It is an excellent choice for active traders and high-net-worth clients.

Bittrex offers a low account minimum and 50 trading pairs. Clients fund accounts with debit cards, ACH transfers, and bank account transfers. Bittrex offers two-factor authentication and cold storage for all its clients.

This exchange offers institutional trading. It is an excellent feature for trading firms, market makers, and other institutional clients. It has no withdrawal limits, fast deposits, and API integration. We recommend it for expert traders, as its educational tools are limited.

Cryptocurrencies Available 

Bittrex offers 100+ crypto coins and 284 trading pairs. It provides access to popular assets, including Bitcoin, Ethereum, Tether, and Dogecoin.

Bittrex uses a multi-stage wallet strategy with secure authentication methods. It offers a versatile portfolio with access to popular trading pairs. Our 2021 Bittrex review shows that the coins available include:

Bitcoin (BTC)
Ethereum (ETH)
Bitcoin Cash (ABC)
Maker (MKR)
Compound (COMP)
ZCash (ZEC)
Litecoin (LTC)
Dash (DASH)
Horizen (ZEN)
Terra (LUNA)
Filecoin (FIL)

Bittrex trading pairs include:

BTC/USDT
BTC/USD
ETH/BTC
ETH/USDT

Fees 

Bittrex has a transparent fee structure. It offers three account tiers with different fees. Unverified accounts don’t receive access to BTC withdrawals. Basic accounts withdraw up to 4BTC daily. Professional accounts have a daily withdrawal limit of 100BTC.

Bittrex has a flat fee of 0.25% on all trades. This fee is higher than the industry average. Bittrex doesn’t charge a fee for deposits or withdrawals. The minimum transaction size at Bittrex is $3. This exchange has maker/taker fees that vary from 0% to 0.35%, depending on trading volume and account tier.

This cryptocurrency exchange rewards crypto enthusiasts. Users receive Bittrex credits for actions taken on the platform. Referrals earn 10% on all commissions your referred friends spend on trades. The Bittrex team offers leading account security features. Read our in-depth reviews for more details on trading fees, trading pairs, and user accounts.

Regulation & Reputation 

Bittrex is a leading cryptocurrency exchange with the best safety measures. It stores up to 90% of currency offline. The cold storage at Bittrex hasn’t experienced any breaches. Bittrex uses two-factor authentication for all transactions.

Bittrex is a US-based cryptocurrency exchange. It complies with the Know Your Customer and Anti-Money Laundering programs. It keeps its platform safe with verification processes and strict authentication requirements.

Account Opening 

Account opening at Bittrex is straightforward. Investing in digital assets is possible up to your Bittrex account limits.

To set up a Bittrex account, follow the steps below:

Access Bittrex’s homepage and click on Sign Up.

Enter an email address and password.

Complete Basic Verification for your phone number.

Turn on two-factor authentication and use Google Authenticator to generate a code.

Submit personal information, including full name address.

Agree to the User Agreement and Privacy Policy.

Verify your account.

Link a payment method and start using Bittrex.

Customer Support 

Customer service is an important aspect we review. Most users complain about Bittrex’s support team. All clients receive access to customer support with a support ticket. Another way to reach their team is with their official Telegram Channel, Bittrex Global. Our Bittrex review reveals customer support is average.

Bittrex Vs. Other Cryptocurrency Companies

Bittrex is a popular cryptocurrency exchange with safe platforms. It has a great choice of digital assets. Its primary competitors are Binance, Coinbase, PancakeSwap, and Huobi. Crypto traders use multiple exchanges and digital assets to establish a reliable crypto portfolio.

Binance

Binance is a centralized cryptocurrency exchange. It has a competitive fee structure with low costs. It offers powerful tools for active traders. Binance has limited learning tools. The minimum trade with this exchange is $10.

Binance is the direct competitor of Bittrex. Both exchanges offer trustworthy services but differ in key aspects:

Both exchanges have average customer service reviews. Users at Bittrex complain about the lengthy response times.
Binance offers OTC and exchange services for institutions and high-net-worth clients. Bittrex offers institutional trading with access to professional tools.
Binance has a transparent fee structure with fees as low as 0.10%.

Binance is a reputable cryptocurrency exchange with powerful services. It is a trustworthy Bitcoin exchange platform. Bittrex is a trustworthy crypto platform part of Bittrex Global. Check our in-depth reviews to learn more about the services available at Binance.

Related content: Binance UAE Review

Coinbase

Coinbase is another competitor of Bittrex. Both offer reliable services, but there are key differences:

Both providers are centralized exchanges where users buy or sell assets.
Coinbase offers staking rewards at different interest rates. Bittrex offers account credits for actions taken on the platform.
Coinbase has competitive pricing and a transparent fee structure.

These exchanges have strengths and weaknesses depending on your trading needs. Coinbase has a versatile portfolio with an average fee structure. Read our in-depth reviews for more information on the services available at Coinbase.

Related content: Coinbase UAE

Huobi

Huobi is an interesting crypto exchange to trade with. It has low fees and access to cold crypto storage. Huobi is another competitor of Bittrex. Both exchanges are reliable but differ in main criteria:

Huobi has a beginner-friendly interface and 24/7 customer support. Bittrex might be challenging for new traders, and it has below-average support.
Huobi offers cold crypto storage services for account holders.
Huobi has an outstanding platform with rapid transactions and a user-friendly interface.

Both exchanges offer valuable services for crypto enthusiasts. Huobi is a good fit for new traders as it has straightforward platforms. It provides learning tools and access to a knowledgeable support team. Read our in-depth reviews to learn more about the services available at Huobi.

Summary 

Bittrex is a well-established, popular cryptocurrency exchange. It has average fees and offers exciting rewards. Its platforms are secure and support 50 digital assets. Bittrex is a top choice for professionals and active traders.

FAQ

Is Bittrex Safe And Legit?

Bittrex uses powerful security features, including two-factor authentication. It encourages account holders to follow the recommended safety measures. Cryptocurrencies are speculative assets. Digital currency trading is risky. Bittrex is a trustworthy exchange for all traders. It has an excellent reputation because of its app security. Read our in-depth reviews to learn more about crypto exchanges and safety.

How Do I Get My Money Out Of Bittrex?

Bittrex withdrawals are simple. Access your user account and click on the “-“ icon. Submit the address where you want to send your funds. For example, users send their funds to a Coinbase wallet address to withdraw funds.

How To Trade On Bittrex?

To start trading on Bittrex, you need to select Bittrex as your exchange. Choose your currency from the Markets section and follow the steps below to place a Limit Buy Order: – Submit the quantity of digital coins in the Quantity area, – Enter your limit price in the Bid section, – Place the Buy Order and confirm the total amount. If you’re interested in Quick Trades, you must have enough coins in your account. This lets you immediately Buy/Sell coins at the rate in the order book. Check our in-depth reviews to learn more about crypto exchanges and trade types.

What Is The Minimum Trade Size At Bittrex?

Bittrex has a minimum trade size of 0.00100000 BTC.

Are There Any Hidden Fees?

Bittrex has a standard 0.25% fee for all trades. It has no deposit or withdrawal fees. There are “gas” fees that vary by blockchain and network congestion. For example, ERC-20 currencies have higher gas fees than Bitcoin or Ethereum. Read our in-depth reviews for more information on cryptocurrency exchanges and fees.

What Are The Main Advantages Of Bittrex?

The main advantage of Bittrex is its safety measures. This exchange uses powerful security features, including two factor authentication and cold storage. Verify our in-depth reviews to learn more about the best safety measures at crypto exchanges.

Are There Any Complaints?

Yes. Most users complain about the customer support response time. It might take up to a week to receive an answer from their team. Customer service is essential to online trading. Read our in-depth reviews to learn more about cryptocurrency exchange platforms and support.

Does Bittrex Offer Fiat Currencies?

Yes, but not for forex. Recently, Bittrex included fiat currencies in its portfolio as tools for entering the cryptocurrency market. Use fiat currencies USD and EUR to purchase any crypto coin on the exchange and then trade from there.

Is Bittrex Legal?

Yes. Bittrex has its headquarters in the US. It complies with the laws and regulations of the US. Check our in-depth reviews to read more about cryptocurrency exchanges and laws.

Is Bittrex A Good Fit For Beginners?

Bittrex has a popular crypto exchange app. It has a straightforward interface, but it might be challenging to learn for new traders. It offers strong security features. We recommend it for professionals and active traders.

Is Bittrex A Good Cryptocurrency Exchange For Bitcoin Trading?

It is a good fit for Bitcoin enthusiasts, but it might be difficult for beginners to learn. Bittrex offers access to 50 digital assets. It is safe and provides a fast verification process.

Does Bittrex Have An Affiliate Program?

Yes. If you refer a friend to Bittrex, the system will pay you using Bittrex Credits. You must have enough Bittrex Credits to use these as payment on the platform.

Does Bittrex Offer Staking?

Bittrex offers staking rewards for Cardano (ADA) tokens. Users must accept the Bittrex Global Terms of Service to become eligible for these rewards. To become eligible, users must: – Complete ID verification – Accept the Bittrex Global Terms of Service – Trade/Deposit on Bittrex in the past 180 days – Hold at least 1 ADA in a Bittrex account

Is It Worth Staking Crypto?

The advantage of crypto staking is that users receive crypto payments for doing it. Profitable cryptocurrencies pay more than 20% per year. Crypto staking functions like earning interest in a Certificate Of Deposit (CD) at your local bank. We recommend you read more about the process before joining. Our in-depth reviews offer more information on crypto trading, staking, and risks.

Which Is The Main Competitor Of Bittrex?

The main competitor of Bittrex is Binance. Binance offers beginner-friendly services and industry-leading safety measures. It has a minimum trade of $10. Check our in-depth reviews to learn more about the services available at Binance.

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