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Bittrex Exchange Review
Bittrex Global is a cryptocurrency exchange oriented towards more experienced traders. Founded in 2011 and originally based in Seattle, U.S., they have since moved their headquarters to Lichtenstein. They offer over 250 digital assets via their powerful cryptocurrency trading engine with a sleek interface and numerous trading pairs. Bittrex also has a set of its own API keys which can be used for automated crypto trading with bots.
Launched by former employees of Microsoft and Amazon, another one of its biggest draws is its robust security. With easy ways to get started, and a plethora of cryptocurrencies to choose from Bittrex is one of the top exchanges on the market. Our Bittrex Review will help you determine if it is right for you.
Bittrex Overview
- Great option for experienced cryptocurrency traders
- Relatively low fees
- Very high level of security
- Launched by former Microsoft and Amazon employees
Pros & Cons
Pros
Tons of trading pairs
Very high liquidity
Fiat deposits and withdrawals
High level of security
Cons
No margin trading
Extensive verification
History of poor customer support
Bittrex Funding Methods
| Method | Deposit | Withdraw | Speed |
|---|---|---|---|
| Bank Wire | Yes | Yes | 1-5 days |
| Card/Debit Card | Yes | No | Instant |
| Cryptocurrency | Yes | Yes | Nearly Instant |
Bittrex Exchange at a Glance
| Users: | Millions |
| Volume: | $50+ million |
| Trust Rating: | Medium |
| Fees: | Trading fees range from .2% to 3% |
| Buying Limit: | N/A |
| Overall Rating: | Medium |
Setting Up a Bittrex Account
Setting up a Bittrex account is a simple process but can take a little while due to their verification process. That said, they use Junio which is generally a fast verification provider. As long as you have your ID documents ready, the process is pretty fast. Follows these steps to set up your Bittrex account:
- Click Sign Up on the Bittrex Homepage
- Choose your account type: Personal or Corporate
- Enter your email address and create a password, they send a verification email.
- Verify your email address through the email they send
- Accept their terms of service
- Enter personal information (Address)
- Enter financial information (Employment Status and Income)
- Start Identity Verifcation Process
- Choose type of ID you will provide and upload photo/scan. They accept passports, driver’s licenses and government ID cards
- Take a selfie using their automated system
- Provide proof of address such as a utility bill
- Their system will then automatically verify you
- Once verified you can fund you account and start trading
What Can You Buy on Bittrex?
Bittrex offers a ton of cryptocurrencies to trade, buy and sell on their platform. They offer over 250 different digital assets, with access to both USD and EUR trading pairs for most, along with the ability to trade fiat for fiat. Here are some of the crypto assets they offer:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Cardano (ADA)
- Bitcoin SV (BSV)
- Bitcoin Cash (BCH)
- Tron (TRX)
- Crypto.com Coin (CRO)
- Ripple (XRP)
- Stellar (XLM)
- Polkadot (DOT)
- TrueUSD (TUSD)
- Litecoin (LTC)
- Chainlink (LINK)
- Neo (NEO)
Bittrex also offers users API keys which they can use to automate trades on their platform through the use of a third-party crypto trading bot. Please click here for more information on trading bots.
Supporting Operating Systems
Bittrex Global offers both a desktop version via your web browser and a mobile app as well. The web version of Bittrex works on Linux, Windows, and iOS, while the mobile app is available for Android and iOS and is available on their respective app stores.
Is Bittrex Safe?
Bittrex is one of the safest cryptocurrency exchanges on the market today. They are one of only a few major exchanges that has never had a security breach of any kind. They store 80-90% of all assets offline and use a multi-stage wallet strategy for added security.
They follow all Know Your Customer (KYC) and Anti-Money Laundering (AML) policies and keep careful watch of IP addresses of user logins in case of unusual activity.
All withdrawals and uses of API keys require Two Factor Authentication (2FA). If you do not set up 2FA then you will have strict limits on withdrawals.
Are Bittrex Fees High?
Bittrex, while not the cheapest on the market, has fairly low and reasonable fees for their platform. Maker fees start at 0.2% and go down from there, turning to 0% when you have $60 million in trade volume for the past 30 days. Taker fees also start at 0.2% and go down from there, turning to 0.08% when you hit the $60 million volume mark.
When it comes to crypto fees, they charge nothing for you to deposit cryptocurrency into you Bittrex exchange account. There are charges for network fees on withdrawals of cryptocurrency and these fees vary by the asset.
For purchases made with credit and debit cards, either Visa or Mastercard, there is a 3% processing fee charged on top of your purchase. This is fairly standard across the industry.
For funding with a bank transfer, Bittrex charges no fees for deposits or withdrawals, the only fees you will be charged are the fees that your bank charges you for making the transfer.
Bittrex Frequently Asked Questions
Bittrex used to be located in Seattle, USA, but since the change to Bittrex Global their headquarters are now located in Lichtenstein. The business is registered in Bermuda.
Bittrex is a good exchange to buy Bitcoin because you can buy it instantly with a debit or credit card. Simply set up your Bittrex account and you can buy Bitcoin right away.
Yes, Bittrex has a mobile app called Bittrex Global. It is available for both Android and iOs and can be found on the Play Store or App Store.
The CEO and founder of Bittrex is Bill Shihara. They are not a publicly traded company so there is no owner.
No, Bittrex does not have its own token like Binance Exchange does with Binance Coin (BNB).
Yes, Bittrex is available in all US states, but there are restrictions for users of some states, such as Nevada, which prevent access to certain cryptocurrencies, and withdrawals and deposits in fiat.
No, you do not need a social security number to trade on Bittrex. They accept other forms of identification for their verification process such as passport, driver’s license and government issued ID card.
