Bittrex review: Bittrex is a well-known cryptocurrency exchange that was founded in 2014 by Bill Shihara, Richie Lai, and Rami Kawach. Headquartered in Seattle, Washington, Bittrex has grown to become one of the leading platforms for trading various cryptocurrencies. Its founders, who have extensive experience in the cybersecurity industry, set out to create a secure and reliable platform to cater to the growing demand for cryptocurrency trading.
One of the key features that sets Bittrex apart is its emphasis on security. The exchange employs cutting-edge security measures to safeguard user funds and data. It utilizes industry-standard security protocols such as two-factor authentication (2FA) and cold storage for the majority of its digital assets. By prioritizing security, Bittrex has earned a reputation as a trustworthy platform among traders, investors, and institutions.
Regulatory compliance is a significant focus for Bittrex. The platform has actively worked to adhere to various regulatory requirements, implementing strict know-your-customer (KYC) and anti-money laundering (AML) procedures. This commitment to compliance has enabled Bittrex to operate in several countries and states within the United States, further expanding its reach and user base.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 300+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0% |
| 💳 P2P platform | ✅ |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | Seattle, Washington, United States |
Overall Bittrex Review
Overall, Bittrex's commitment to security, its wide selection of cryptocurrencies, user-friendly interface, and regulatory compliance make it a popular choice among cryptocurrency traders and investors looking for a reliable and reputable exchange to engage in digital asset trading.
Go to Bittrex website
Geographic Distribution
Geography of clients (traders) of Bittrex
Top Reviews
Best customer reviews of Bittrex
The site administration cannot guarantee review accuracy and lacks the technical means to verify if authors are actual customers. Reviews lacking detail and purely emotional in nature are disregarded.
Bittrex is my go-to platform for cryptocurrency trading. Their security measures are top-notch, which gives me peace of mind while managing my digital assets. The vast selection of cryptocurrencies allows me to explore various investment opportunities. The user-friendly interface and trading tools make it easy for me to execute trades efficiently
United States
I have been using Bittrex for a while now, and it's an okay platform. The security features are decent, but I wish they had more advanced options for experienced traders. The variety of cryptocurrencies is good, but sometimes the listing process can be slow. Overall, it's a functional exchange, but I don't find anything particularly outstanding about it.
United Kingdom
I had a disappointing experience with Bittrex. They suspended my account without warning, and it took weeks to get a response from their customer support. The lack of clear communication and slow resolution left me frustrated. Additionally, the trading fees are quite high compared to other exchanges, making it costly for frequent traders like me. I'll be looking for alternatives with better service and lower fees.
Germany
Expert Review
Expert Review of Bittrex
As a financial expert, I must assess the reliability of the Bittrex exchange based on its performance, security measures, regulatory compliance, and user feedback.
Bittrex has proven to be a reliable platform for cryptocurrency trading. The exchange was established in 2014 and has maintained its operations for several years, demonstrating stability in the fast-paced and ever-changing crypto industry.
In terms of security, Bittrex has implemented robust measures to safeguard user funds and data. Two-factor authentication (2FA) and cold storage for most assets are commendable features that protect against unauthorized access and potential breaches. As a result, Bittrex has gained the trust of traders and investors who prioritize the safety of their digital assets.
Moreover, Bittrex's commitment to regulatory compliance is noteworthy. The platform adheres to various global and local regulations, including strict know-your-customer (KYC) and anti-money laundering (AML) procedures. This compliance not only ensures the legality of its operations but also enhances its credibility as a reputable exchange.
Despite these positive aspects, some users have raised concerns about the exchange's customer support response times. Delays in addressing user inquiries or issues can be frustrating, especially during times of high market activity when quick resolutions are essential. Improving customer support efficiency could enhance the overall user experience and reinforce the exchange's reputation.
In conclusion, as a financial expert, I find Bittrex to be a reliable cryptocurrency exchange, supported by its strong security measures, regulatory compliance, and established track record. However, addressing customer support responsiveness would further solidify its position as a dependable platform for traders and investors in the crypto market.
Financial expert and analyst at TradersHero.com
Risk warning for trading on Bittrex:
- Cryptocurrencies are known for their extreme price fluctuations.
- Rapid and unpredictable market swings can lead to significant gains or losses.
- Traders should exercise caution and only invest funds they can afford to lose.
Bittrex Ern
Investment Programs
Earning money on Bittrex (or any cryptocurrency exchange) involves trading and investing in digital assets. While there are no specific “programs” provided by Bittrex for making money, traders can employ various strategies and tools to increase their chances of profitability. Here are some common approaches used by traders on Bittrex:
Staking, also known as “staking,” is an essential feature in many blockchain networks. However, unfortunately, it is not available on the Bittrex platform. Staking enables holders of specific cryptocurrencies that participate in the Proof of Stake (PoS) protocol to earn rewards for supporting the network and processing transactions.
In other networks like Ethereum 2.0 and Tezos, staking allows users to “stake” their tokens and lock them as collateral to enhance the network's security. By participating in the staking process, users receive rewards based on their token stake's proportion in the network.
While Bittrex offers a wide range of other trading and investment opportunities in various cryptocurrencies, including margin trading and participating in Initial Coin Offerings (ICOs), staking functionality is not available on this platform. If you are interested in staking and earning passive income from participating in blockchain networks, you may want to explore alternative platforms or wallets that support this feature.
Risk warning for trading on Bittrex:
- Despite Bittrex's security measures, the exchange is not immune to hacking attempts.
- Cyber threats and phishing attacks can pose a risk to user accounts and digital assets.
- Traders should use strong passwords, enable two-factor authentication (2FA), and consider using offline wallets for added security.
Best Copy Trading Platforms
Conditions
Trading Conditions for Bittrex Users
Trading conditions for Bittrex users are designed to offer flexibility and accessibility for traders. The exchange does not impose significant limitations on the minimum deposit, allowing users to start trading with as little as $1. This feature caters to traders of various budgets, making it inclusive for both experienced and novice investors.
Unlike some other platforms, Bittrex does not offer leverage for trading. Users can trade cryptocurrencies without borrowing additional funds to amplify their positions. While leverage can potentially enhance profits, it also increases the risk of losses, and Bittrex's focus on straightforward trading aligns with its commitment to risk management and user protection.
Bittrex provides 24/7 technical support to assist users with their inquiries and concerns. However, it's important to note that the primary communication channels for contacting support are through email or the ticket system on their website. This may be a limitation for users who prefer real-time chat or phone support.
The exchange supports various account currencies, including cryptocurrencies, EUR, and USD. Users have the flexibility to fund their accounts through bank cards (Visa/Mastercard) and wire transfers, as well as cryptocurrency wallets and SEPA transfers. Similarly, withdrawals can be made using the same methods, offering convenience for users in managing their funds.
Bittrex offers a diverse range of trading instruments, including cryptocurrencies and fiat currencies such as EUR and USD. Traders can engage in various crypto-to-crypto and crypto-to-fiat trading pairs, providing ample opportunities for diversification. The commission fees are tiered based on a user's trading level, which is determined by their trading volume over the last 30 days. As traders increase their trading activity, they can benefit from reduced commission fees, incentivizing more active participation.
The proprietary trading platform on Bittrex boasts advanced functionality, including stop-loss and take-profit orders, enabling users to implement risk management strategies effectively. Moreover, Bittrex prioritizes data protection to ensure users' security while conducting trades on the platform.
While Bittrex does not offer PAMM accounts or act as a liquidity provider, it does support mobile trading. This feature allows users to access the platform and manage their trades conveniently while on the go.
Finally, Bittrex's referral program offers users an opportunity to invite others to the exchange and earn a commission from their trading fees. This program is a way for users to benefit from passive earnings by encouraging others to join and participate in the Bittrex ecosystem.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 300+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0% |
| 💳 P2P platform | ❌ |
| 🔁 Copy Trading | ❌ |
| 📊 DeFi Staking | ❌ |
| 🖼️ NFT | ❌ |
| 🏦 Crypto Loans | ❌ |
| 🔓 Demo account | ✅ |
| 🚀 Launchpad | ✅ |
| 📱 Mobile apps | iOS, Android |
| 📞 Customer Service | Forums, Chat, Email |
| 👩💼 Support | Multilingual |
| 🗺️ Headquarters | Seattle, Washington, United States |
Risk Warning
Comparison
Comparison of Bittrex with other Crypto Exchanges
Crypto Exchanges comparison table of trading instruments
Commissions
Bittrex Accounts, Commissions & Fees
Bittrex offers various types of accounts, including personal and corporate accounts. Users can choose the account type that best suits their trading needs and requirements.
Commissions and fees on Bittrex are determined based on a user's trading level, which is calculated from their trading volume over the last 30 days. The exchange employs a tiered fee structure, rewarding more active traders with lower commission rates.
As of my last update, Bittrex has nine trading levels, each with its respective commission rates. The higher the trading level, the lower the commission fees. For example, at the lowest level with a trading volume of up to $5,000, the taker/maker's commission fee is 0.75% of the transaction amount. At the highest level with a trading volume of $100,000,000, the maker's commission fee is 0.0%, and the taker's commission fee is 0.05%.
Additionally, Bittrex may charge withdrawal fees for transferring funds from the exchange to external wallets or accounts. Users should review the latest fee structure on the Bittrex website to stay informed about current commission rates and any additional fees that may apply.
Fee schedule
| 30-Day Volume | Maker Fee | Taker Fee |
|---|---|---|
| $0K – $100K | 0.10% | 0.15% |
| $100K – $1M | 0.05% | 0.10% |
| $1M – $10M | 0.03% | 0.08% |
| $10M – $60M | 0.00% | 0.05% |
| $60M + | Contact us about our VIP Programme (for individuals) and Corporate Premium Programme (for corporates) | Contact us about our VIP Programme (for individuals) and Corporate Premium Programme (for corporates) |
Risk warning for trading on Bittrex:
- Cryptocurrency regulations vary widely between countries and regions.
- Regulatory changes can impact trading activities, asset availability, and market sentiment.
- Traders must stay informed about regulatory developments to adapt their strategies accordingly.
Risk Warning
Final review
Detailed review of Bittrex
Bittrex, established in 2014 by Bill Shihara, Richie Lai, and Rami Kawach, is a prominent cryptocurrency exchange headquartered in Seattle, Washington. With a focus on creating a secure and trustworthy platform for cryptocurrency trading, the founders, who possess extensive cybersecurity expertise, have successfully positioned Bittrex as a leading player in the industry.
At Bittrex, traders can access an extensive range of cryptocurrencies, encompassing well-established options such as Bitcoin (BTC) and Ethereum (ETH), as well as a wide variety of altcoins. The platform meticulously evaluates and scrutinizes new projects to ensure compliance with its listing standards, ensuring a level of quality and security for users.
One of the distinguishing factors that sets Bittrex apart is its unwavering commitment to security. Employing cutting-edge measures like two-factor authentication (2FA) and cold storage for most digital assets, the exchange prioritizes safeguarding user funds and data. Consequently, Bittrex has garnered a strong reputation for reliability among traders, investors, and institutions alike.
With a user-friendly interface and intuitive trading tools, Bittrex accommodates both novice and experienced traders. Offering a basic trading view for beginners and an advanced interface for seasoned traders seeking sophisticated charting and analysis tools, the platform caters to a diverse user base.
Transparency and credibility are integral to Bittrex's operation. The platform regularly undergoes third-party audits of its financial reserves, reassuring users that their entrusted assets are adequately backed.
Bittrex's growth and evolution have led to the introduction of several additional services. Bittrex Global serves international customers, while the Bittrex Wallet offers a secure mobile app enabling users to manage their cryptocurrencies conveniently on the go.
In conclusion, Bittrex's emphasis on security, diverse cryptocurrency selection, user-friendly interface, and regulatory compliance have positioned it as a favored choice among cryptocurrency traders and investors seeking a reputable and reliable exchange for their digital asset transactions.
Advantages:
Main advantages of the exchange:
Bittrex Regulator
Bittrex is a regulated cryptocurrency exchange that complies with various regulatory requirements in different jurisdictions. The specific regulators overseeing Bittrex's operations can vary depending on the country or region in which the exchange operates.
In the United States, Bittrex is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). Additionally, Bittrex operates as a regulated Money Transmitter in several U.S. states that require such licensing for cryptocurrency exchanges.
Furthermore, Bittrex Global, the international arm of Bittrex, is regulated in Liechtenstein under the Transaction Systems Based on Trustworthy Technologies Act (TVTG). This regulation ensures that Bittrex Global adheres to strict standards for anti-money laundering (AML) and counter-terrorism financing (CTF) measures.
Bittrex's commitment to regulatory compliance and adherence to Know Your Customer (KYC) and AML procedures helps to establish it as a reputable and reliable exchange in the cryptocurrency industry.
It's essential to note that regulatory landscapes are subject to change, and additional regulatory approvals or changes may have occurred since my last update. For the most current information regarding Bittrex's regulatory status, users should refer to the exchange's official website or consult with official regulatory authorities in their respective countries or regions.
Risk Warning
Promotions
Bonuses Paid by the Bittrex
Bonuses
Bittrex does not typically offer bonuses or promotions to its users. Unlike some other cryptocurrency exchanges, Bittrex focuses on providing a secure and reliable trading platform for cryptocurrencies and tokenized assets without implementing specific bonus programs or promotions.
The exchange's primary focus is on facilitating trading activities and offering a wide range of cryptocurrencies for users to trade. Bittrex emphasizes security, regulatory compliance, and transparency, which has contributed to its reputation as a reputable platform in the cryptocurrency industry.
It's important to note that cryptocurrency trading carries inherent risks, and users should exercise caution and conduct thorough research before engaging in any investment activities on any platform, including Bittrex. While bonuses and promotions can be enticing, traders should prioritize factors like security, fees, available assets, and customer support when choosing a cryptocurrency exchange.
As cryptocurrency exchanges and regulations evolve, it's possible that Bittrex or other platforms may introduce new programs or promotions in the future. To verify the most up-to-date information about any bonuses or promotions offered by Bittrex, users should refer to the exchange's official website or follow their official announcements.
Education
Review of the Bittrex Education Program
Bittrex does not have a formal education program explicitly tailored for users. Unlike some other cryptocurrency exchanges, Bittrex primarily focuses on providing a secure and reliable platform for trading cryptocurrencies and tokenized assets, without a specific emphasis on educational resources.
While Bittrex offers a user-friendly interface and basic trading views suitable for beginners, the exchange does not have structured educational materials, such as tutorials, courses, or webinars, to guide users on cryptocurrency trading or investment strategies.
It's important to note that the cryptocurrency market can be complex and volatile, and traders should be well-informed before engaging in trading activities. Users who are new to cryptocurrencies are encouraged to seek educational resources from reputable external sources, such as online courses, books, or articles, to gain a comprehensive understanding of the market and risk management techniques.
Additionally, Bittrex's customer support may assist users with platform-related inquiries, but educational guidance is not typically a primary focus of their support service.
As the cryptocurrency industry evolves, exchanges may introduce educational initiatives or partnerships with external educational providers. To verify the most current information about any education program or resources offered by Bittrex, users should refer to the exchange's official website or follow their official announcements and updates.
Online Courses:
Please note that the availability and popularity of online courses can change over time. It's recommended to check the latest reviews and ratings before enrolling in any course to ensure it meets your specific learning needs and objectives. Additionally, keep an eye out for new courses that may have been released since my last update.
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The Future of DeFi: Trends and Predictions for 2024
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Advanced Charting Techniques: Using Advanced Chart Patterns to Improve Your Trading Accuracy
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Crypto Security Best Practices: Tips for Keeping Your Digital Assets Safe from Hackers
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Leveraging Fundamental Analysis: Using Economic Indicators to Inform Your Trading Decisions
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Forex Trading Platforms: Choosing the Right Platform for Your Trading Needs
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The Future of Cryptocurrency: Predictions and Trends for the Next Decade
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Trading Volatility: Strategies for Profiting from Price Swings in Forex and Crypto Markets
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Introduction to Crypto Mining: How to Start Mining Cryptocurrencies at Home
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Exploring Forex Pairs: Understanding Major, Minor, and Exotic Currency Pairs
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Crypto Market Analysis: Identifying Trends and Opportunities for Profitable Trading
Rating and Comments
Bittrex Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
Bittrex is a total disappointment! Their customer support is horrendous, taking weeks to respond to my issues. I’ve had funds stuck in withdrawal limbo, and no one seems to care.
Bittrex’s security measures are a joke! My account got hacked, and they offered zero assistance in recovering my stolen funds. It’s like they don’t care about their users at all
Stay away from Bittrex! The platform is incredibly slow and unresponsive during peak trading hours. I’ve lost money due to sudden crashes and constant errors.