Bittrex Review ++ How Good Is The Crypto Exchange?

Our editors independently research and recommend the best products and services. You can learn more about our independent review process and partners in our advertiser disclosure. We may receive commissions on purchases made from our chosen links. Jacob Wade is a personal finance expert who has covered credit cards, investing, insurance, and tax issues for more than a decade. He is a former IRS enrolled agent and has prepared scores of individual and small business tax returns. In addition to his work for The Balance, Jacob has written professionally for LendingTree, CompareCards, Investing Answers, and other widely-followed personal finance sites. In terms of privacy policy, Bittrex as a U.S based company is obligated by law to collect certain information about its clients which may, in turn, be shared with the U.S government.

If you are a bit more experienced in the digital asset trading scene and wish to buy and sell crypto-cross pairs – Bittrex has you covered. With that said, the vast majority of crypto-crosses are paired with Bitcoin. Some of the most traded markets in this department include ETH/BTC, DOGE/BTC, ADA/BTC, and XYM/BTC. With the view of attractive less experienced cryptocurrency investors, Bittrex has since created a gateway for instant purchases. That is to say, you can use your debit or credit card to instantly buy digital currencies at the click of a button. With that said, instant buy transactions are charged at 3% – which is expensive.

Bittrex Exchange Kyc And Aml

On a crypto-to-crypto trading exchange, you can only trade in cryptocurrencies. This means you can’t buy cryptocurrencies with fiat currencies. The level of security on this platform is enough to deter even the most confident of cybercriminals. With their many layers of theft protection and security, it’s easy to see why the crypto community is flocking to Bittrex. They are confident in Bittrex’s ability to keep user funds safe. While many exchanges have invested significant resources into perfecting the on-boarding process, Bittrex is one of the exchanges which have truly nailed it. In this review, Bittrex will be dissected in an attempt to better understand the value this exchange provides to the cryptocurrency market.

If any provision herein is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect. The time for verification to complete varies, for U.S. residents and citizens may be asked to provide their social security number. Once verification is completed, account holders will receive a verification success message. There is no limit to the number of people who can use the referral link, but Bittrex has made it so that the account holder can not view the number of people that have used the code.

Bittrex Overview

Adding this, we especially liked that the trading platform is flexible and accessible. When depositing funds using fiat currency, some factors come into play, most notably your location. Bittrex supports the U.S. dollar and the Euro as fiat currencies. Depositing funds in a currency other than these two currencies will incur separate foreign exchange fees. The terms and conditions for fiat deposits vary from country to country.

• It charges both buyers and sellers a fee based on the price of the executed order.
• The ID verification solution provider processes users from 200 countries on behalf of numerous companies.
• Having said that, you’ll require to have passed their full bank verification process in order to do so.
• Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms.
• To start the process of opening an account with Bittrex you can visit the Bittrex trading platform here.
• The customers usually want to get things quickly to start managing their funds.

However, users will quickly discover that it’s run by a bot, and you can’t directly chat with an agent when facing difficulties. Other platforms offer many ways to contact customer service directly, so this is clearly Bittrex’s letdown. We believe the safety of your investment should be a top priority when choosing a cryptocurrency exchange. After all, you wouldn’t want to suffer the unfortunate event of losing your hard-earned tokens. It’s a means of ensuring that exchange platforms, like other financial institutions, comply with regional or international fiscal regulations. You should always consider an exchange platform’s fees before deciding to trade on it.

Storage & Security

Users can share their referral link from their Bittrex account directly to their social media accounts or email. Bittrex account holders can take advantage of the Bittrex referral program. Users can earn 10% on all commissions spent through their shared referral link . In 2018, the exchange joined the Virtual Commodity Association Working Group together with competing exchanges Bitstamp, bitFlyer USA, and Gemini. You will need the Google Authenticator application, which is available for both iPhone and Android. Follow the instructions on the screen, or check out the 2FA support documentation for more information.

One of the most significant advantages to using Bittrex is that its equipped with a massive number of cryptocurrencies that are present for members to trade. The Bittrex website is designed with approximately 450 trading pairs for only BTC. This means that Bitcoin holders can exchange this BTC with a wide array of altcoins, or alternative cryptocurrencies when looking to conduct a crypto-to-crypto exchange. Unlike some other cryptocurrency platforms, Bittrex does not offer a demo account.

What If I Cancel My Order After Choosing To Pay With Bittrex Credits?

The first thing you’ll have to do is create an account, and for Bittrex it’s simple. Jeremy Harshman is a protector of art and writing at CreditDonkey, a crypto comparison and reviews website. Write to Jeremy Harshman at Follow us on Twitter and Facebook for our latest posts. If you’re looking for a no-frills crypto exchange, you may want to consider Bittrex. Bittrex can and will hold your crypto hostage for no apparent reason. In my case they blocked my account after new regulation requirements.

Use the search bar provided to locate the currency you wish to deposit. This part of our Bittrex review is partially a guide so you can get an idea of what to expect when signing up to this exchange.

Withdrawal & Deposit Records

With all of the recent updates, it once again became one of the more attractive trading options in the crypto market. It does not have controversial features like margin trading, but it does let allow you sell your coins for USD or EUR and withdraw them directly into your bank account. bittrex review So if you’re looking for a fiat-to-crypto exchange with a wide range of altcoins, Bittrex is a trustworthy choice. Bittrex is a cryptocurrency exchange that allows users to buy, sell, and trade supported cryptocurrency. One of which being if you wanted to deposit more than USD 100,000.

Each cryptocurrency can be traded against Bitcoin, Ethereum and stablecoin pairs. Bittrex has also recently launched 3x leveraged tokens to complete with platforms such as FTX.

It wasn’t working perfectly to begin with, and although it’s something they’ve apolagised for, some customers are still not happy. This requires you to take photos of your identification , and should take minutes including processing. The only clear caveat here is that you are not able to use their services if you’re part of a country or state that is embargoed by the United States. Later, it does actually specify some countries, including North Korea, Iran, Syria, Cuba and the Crimean region. However, it’s believed that other countries are also without access, but we don’t want to say without confirmation. Although it’s ever-changing, one thing that does remain the same – and is a huge positive in this Bittrex exchange review – is that the selection is always absolutely massive.

• The downsides are no mobile app, their current backend issues, and lengthy verification.
• Bittrex has been facilitating trade on the financial markets for over 11 years.
• When comparing Bittrex vs Kraken trading fees there is not much to separate the two exchanges.
• However, this is probably less of a determining factor nowadays as most exchanges usually require identity verification.
• Bittrex offers advanced trading charts and order types, including trailing and ladder orders.
• So, the trading tools that you have at Bittrex are great for those individuals who like to use technical analysis to inform their trading and do not want to switch to external providers.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

Apparently, this situation has been going on for some time, with only minimal response from the Bittrex team. Clients continually commend the exchange’s trading interface for its quick loading times, with no incidences of hanging or lags. 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. Once your deposit is confirmed, locate the pair that you want to trade by using the search function.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD’s, Forex and Commodities.

• You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.
• Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action.
• Not to mention, the Bittrex website is designed with a shared API, which is used to leverage both exchanges for a straightforward online integration.
• Its ranking fell drastically to 100th place towards the end of 2019.
• As we have mentioned previously, many cryptocurrency and forex exchange trading platforms exhibit scam features.
• The Bittrex Global mobile app provides detailed statistics at a glance, a customizable favorites list and more to improve your cryptocurrency trading experience.

This is the direct opposite of competitors like Coinbase, which serves as a broker. With a broker, users buy and sell their crypto directly with the broker at a set market price rather than trade with each other. Bittrex is like the New York Stock Exchange on Wall Street, only cooler. Bittrex — the next-generation digital currency exchange is a Seattle-based crypto trading platform.

As we have mentioned previously, many cryptocurrency and forex exchange trading platforms exhibit scam features. One of the most commonly used scamming techniques is to include fake customer experiences.

Author: William Edwards