Bittrex Review 2023: Is It Safe? Heres The Answer

Its customers often praise Bittrex for its easy-to-use interface design and fast loading speeds. Bittrex’s trading platform is preferred and trusted because of the cutting-edge technology to design the exchange and its offerings. Let’s now take a look at Bittrex’s impressive features below in this Bittrex Review. Bittrex is a US cryptocurrency exchange that was launched in 2014. With its headquarters in Las Vegas, Nevada, USA, Bittrex also has an office in Seattle, Washington, USA. Bill Shihara, Richie Lai, Ryan Hentz, and Rami Kawach are its founders. Bittrex reportedly gained about five hundred thousand users by December 2017.

The website contains an elaborative FAQ section where most possible queries and concerns are explained thoroughly. We found the FAQs section to be extremely useful during our Bittrex review, which added to our positive user-experience. I like the writing style in this Bittrex review, not trying to suggar coat anything. The platform is great, especially of beginners, but it’s not flawless. When your bid is accepted your new currency will be sent to your Bittrex wallet. When you’ve been trading for a while your wallet will look something like this.

Bittrex Review 2023

After this date, bittrex review accounts will be disabled, and any remaining funds may be unavailable for an extended period. Availability of a wide variety of currency pairs for trading. High trading speed owing to elastic computing technology used. Bittrex is another veteran exchange oriented-towards more experienced traders.

While support options lack phone, Bittrex does offer a relatively useful help center where users can get answers to common questions. Its help center is broken down into different categories and also has a useful search bar. For example, you can learn about the order types Bittrex offers by searching for “orders”. Bittrex does offer a great selection of cryptocurrencies and stablecoins.

The company’s domain is encrypted with industry-standard SSL, which means all of the data communicated between you and the site is 100% secure. A year after its launch,Bittrexapplied for the BitLicense so that operations could expand to New York. However, four years after the initial application, the state of New York rejected the application stating “a seriously deficient customer identification program” as the reason. Customers of Bittrex Global are not affected by this change. Below is the detailed timeline providing critical dates in this process – please review this thoroughly as some actions must be taken prior to April 30th. I told Bittrex that in my opinion the new regulations were to heavy for me as a small trader and wanted to leave the platform.

Unfortunately, these concerns are common across many cryptocurrency exchanges and aren’t unique to Bittrex. BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services. Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. Read fact-based BitDegree crypto reviews, tutorials & comparisons – make an informed decision by choosing only the most secure & trustful crypto companies. It has built up a very stable reputation of being a global leader, and this is quite evident from all of the feedback that users have and share about it online. Bittrex has over half a million active users and boasts a daily trading volume of $193.69 million.The company recognizes the importance of user safety and data security.

Regulation and safety for customers at Bittrex:

So, if you’re on the lookout for a fiat-to-crypto exchange that offers a wide variety of cryptocurrencies to pick from, Bittrex will not disappoint. Bittrex is typically a crypto-to-crypto trading platform; however, it does allow its users to invest in USDT . Bittrex currently supports USD, EUR, and some other fiat currencies, but this facility wasn’t available initially.

About 32 cryptocurrencies are blocked for US citizens on Bittrex. Accounts that aren’t eligible for USD trading can still use stablecoins like USDT . Over 400 altcoins are available for trading against Bitcoin, Ethereum, USD and USDT. Clients continually commend the exchange’s trading interface for its quick loading times, with no incidences of hanging or lags. I buy a coin from them and even attach my receipt as proof of payment.

Bittrex Customer Support

Bittrex Global is one of the most secure cryptocurrency platforms in the world. Nonetheless, it has more than 280 cryptocurrency pairs listed on it and is a favorite destination for proof-of-work coins. Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.

Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. The exchange offers to earn extra crypto by staking Сardano . To do this, select Holdings → Earn Rewards → Start Earning Rewards. Copy the received USDT deposit address and transfer funds from your personal crypto wallet to it.

Insecure company

Bittrex carefully reviews all coins from impending hard forks or airdrops before providing full support and debiting customers’ accounts. Often, as soon as the networks are stable enough, several coins birthed from hard forks are made available to trade. The minimum deposit amount is USD 50, while there is no maximum limit on how much money you deposit.

As a US trader, you must be from one of the approved states to be eligible for fiat trading. Similarly, in October 2017, it disabled around 0.1% of total user accounts as part of a systemwide compliance review. In other words, it may be one of the safest large exchanges on the web, but this security can sometimes create inconveniences for individual users. The new exchange’s interface is uncluttered and user-friendly. On its main dashboard, there’s a list of supported trading markets with price overviews, volume, and percentage of price change during the last 24 hours. In 2019, Bittrex updated its trading engine to make the platform up to 20 times faster, more scalable, and enable support of new features and upgrades like USD and EUR markets.

Is Bittrex Regulated?

However, there are many things to consider in order to trade crypto successfully. You can find out more on how to invest securely on our website. Another thing we noticed on the crypto exchange was that Bittrex has its own API’s, which enable users to access automated trading with bots. A cherry on top is that the platform presents high liquidity, making it a reliable trading option. Bittrex is one of the oldest crypto platforms to exist, making it quite renowned.

Additionally, customers can fund their accounts using any tradable cryptocurrency. Bittrex is a US-based spot exchange that offers a simple way to buy and sell 573 cryptocurrencies. However, with a lack of features on the exchange, traders looking for an advanced trading platform could be unsatisfied with Bittrex.

• After your identity is verified, you can begin trading on the Bittrex platform.
• So if Adapt system Tech did not intervene I definitely would’ve lost my funds forever.
• I also have my 2fa activated they are real scammers and will try anything to make your life difficult.
• Bittrex provides a modern trading interface that is well laid out and easy to use for beginners and experienced traders alike.

The ID verification solution provider processes users from 200 countries on behalf of numerous companies. However, since Bittrex charges a fixed percentage fee per transaction, you can trade as little as $10 and test your strategies. It is also possible to buy fractions of a currency, too, and trading this way initially will give you real experience.

It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading. Bittrex has low fees compared to many cryptocurrency exchanges. It charges a low trading fee based on the customer’s 30-day trade volume. Maker fees and Taker fees are levied upon buyers and sellers, which vary according to the currency pair for which trading is conducted. Besides trading fees, Bittrex charges small transaction fees too.

CFD crypto trading is unavailable for clients residing in the UK and US. Let analyze in detail the trading opportunities that Bittrex offers to users. Currently, Bittrex sits at number #12 in the crypto exchange list of CoinMarketCap with a volume of +16,000 BTC.

While Bittrex offers a well-designed platform and a plethora of trading pairs, its positives are offset by the lack of features and high costs. As such, while Bittrex is a reasonable spot exchange, better international and US cryptocurrency exchanges are available. Considering the significant number of options available, finding the best crypto exchange is far more complicated than it may seem at first.

The https://forex-reviews.org/ support team is quite responsive, and you can expect a response within a short time. The form can be accessed through Bittrex’s official website, and the response is sent to you directly through email. All you have to do is click on the sign-up option, select the type of account you want to register with and then enter a few relevant details along with proof of identity.