Bittrex review: Pros, cons, fees & more

Bittrex review: Pros, cons, fees & more

bittrex review

Since then, it has grown into one of the best and most reputable crypto exchanges. Bittrex is one of the oldest crypto exchanges in the world, having initially launched in 2014. However, a downside of Bittrex is that the exchange doesn’t provide leveraged or margin trading. If you want that option, you might want to opt for an exchange like Kraken or use a dedicated cryptocurrency derivatives exchange like BitMEX.

Bittrex Features

This means that Bittrex must charge a small amount which is estimated to cover this fee. You can view the current fee for a coin by clicking the withdraw button for the respective coin (on your Bittrex account), which displays the transaction fee. For basic trading purposes, the Order Book is the most important section to pay attention to. Use it to view all buy (bids) and sell (asks) orders that have been placed by Bittrex users. Once your deposit is available for trading, locate the trading pair you would like to trade on the markets page.

bittrex review

Step 3 – Depositing and buying crypto

bittrex review

When taking a look at the trading platform, it is indeed quite impressive from a first glance. The new user interface is easy to understand and everything is well laid out. You can also easily switch between the different markets right on the left toolbar. Traders can earn fiat or crypto depending on the currency their referrer paid their trading fees in, this is subject to certain limitations. To summarize this Bittrex review, here’s my pros and cons for this cryptocurrency exchange. It’s recommended you first deposit a small amount, to make sure everything is working correctly.

bittrex review

Popular Cryptocurrencies

However, in order for you to get access to this account level you have to complete their corporate KYC checks. These require a lot more paperwork and back and forth than when setting up your own personal account. This includes such information as your personal details as well as residency etc. This is required because they will have to confirm the identity of the user to fully activate the account. You can head on over to their registration page and you will be presented with the following form.

This is insane and could cause me lots of loss because I can’t trade now probably for weeks. While Bittrex has developed quite a sophisticated exchange and trading platform, there are a few things that we thought warranted some improvement. Kraken is similar to Bittrex in many ways given that they offer Fiat funding, that they have a lot of coins and that they have never suffered any sort of security breach.

For example, Interactive Brokers and Robinhood offer trading in only a handful of crypto coins. While more than 100 choices certainly are a lot, Bittrex doesn’t offer all the most popular cryptocurrencies, at least not yet. So it doesn’t matter how large the selection is, if Bittrex doesn’t offer the coin you’re looking for.

  • After logging into the Bittrex app, users can browse the cryptocurrency market, viewing the most traded assets and the top winners/losers of the day.
  • It’s worth noting that not all of the cryptocurrencies on Bittrex can be purchased with U.S. dollars.
  • Navigate to the “Wallets” page to deposit the cryptocurrency of your choosing.
  • Bittrex offers fiat currency support, but customers of Bittrex Global need to file an application with the exchange if they want to have fiat trading enabled.

Is Bittrex Safe?

  • Registration and buying crypto is easy, but you can also dive into in-depth markets with the click of a button.
  • If you’re more of a passive investor, though, Bittrex also offers an API that lets you programmatically execute trading and transactions.
  • If you wanted more information you could read our in depth Kraken review.
  • Eligible customers accumulate Bittrex Credits as they are trading, and the credits can then be used to pay for trading fees.
  • There are other exchanges around that allow you to do that and are still compliant with regulations.
  • The easiest and quickest way to do this is probably through crypto funding of some sort.
  • Now you’re armed with some spare time and the items you need to pass verification; we can commence the process.

The easiest and quickest way to do this is probably through crypto funding of some sort. On the exchange coin management side, Bittrex claims that they operate what is called an “elastic, multi-stage wallet strategy”. This basically governs how they access their coins and move them from cold to hot wallets.

bittrex review

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. With no fixed lockup period and a minimum delegation of just 1 ADA, staking on Bittrex is very flexible. While the current range of supported assets is extremely low, we expect to see Bittrex announce support for new assets over the coming months. At CoinSutra we have reviewed numerous cryptocurrency exchanges, but today’s review is special. It charges no deposit or withdrawal fees for U.S. dollars, and it charges no fees for deposits of cryptocurrencies.

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