Bittrex Review 2024: Is It Safe? Heres The Answer

bittrex review

Several other exchanges have better rewards programs that let you stake or lend multiple cryptocurrencies. There’s no phone number or email address to contact the exchange directly. If you have an issue and require assistance, you can either file a ticket with Bittrex on Zendesk or use its live chat. Note that live chat is only available to Bittrex clients who are logged in to their accounts. Unless your referrals are some serious crypto whales, this won’t exactly be a lot on most trades, since Bittrex’s highest trade fee is 0.35%.

bittrex review

Bittrex Review: Established Exchange with Huge Selection of Crypto Assets

These accounts have a lot less restrictions and have better rates, customer service and no limitations. While the flat rate fee is easy to understand, it is disadvantageous for those users who trade large amounts of volume and can be a market maker. The « maker-taker » model is something that other exchanges such as BitMEX use. As two of the world’s largest cryptocurrency exchanges, that are growing at a rapid pace, both sites are faced with a large number of support tickets. Naturally, this has strained both sites’ resources, however Bittrex has handled the growth much better.

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Let us take a closer look at these exchanges in a side by side comparison. The trading platform was upgraded in 2018 and a much more user-friendly interface was introduced. The Bittrex trading / matching engine was also custom built and is able to handle extensive load while bittrex review matching the trades within milliseconds. However, given that Bittrex has increased their support headcount as well as the fall in trading demand, verification times are way back down. Hence, the 2-3 hour waiting period is probably in line with what you should expect.

bittrex review

Deposit and Withdrawal Fees

However, since things have calmed down and they have expanded their team, the waiting times have fallen dramatically. You have no way of knowing whether these applications are safe. Given that you are handing them the write access to the API interface, they could easily steal your API keys and use them to run pump and dump schemes on the exchange. Something that we really like about the Bittrex platform is their charting functionality. Unlike other exchanges, they have developed this themselves and they do not use third party charting packages like TradingView etc. In both of these cases, they will give you their bank account information once you have completed the fiat account request form.

Supported Cryptocurrencies and Trading Pairs

Bittrex started out as a crypto-to-crypto exchange, meaning that you had to own cryptocurrency before joining Bittrex in order to use the platform. However, in 2021, the platform introduced the ability to buy cryptocurrency with fiat — traditional money like EUR and USD. Thanks to that change, Bittrex is a good option for first-time crypto traders who are looking to buy their first digital coins. Bittrex users can manage their accounts through desktop or mobile.

Opening a Bittrex Account

  • It serves as a matching platform between users to exchange digital assets such as coins or tokens.
  • That’s not to say it’s good, only that it’s somewhat above the level of support that many crypto traders have come to accept.
  • Orders are categorized either as makers, which create liquidity on the exchange, or takers that reduce liquidity.
  • Bittrex has several order types, including limit orders and stop orders, advanced charting tools, and live order books.
  • However, if you would like to trade cryptocurrency with leverage, you’ll have to look elsewhere.
  • The Bittrex trading / matching engine was also custom built and is able to handle extensive load while matching the trades within milliseconds.

You’ll then be required to share a selfie to verify that your likeness matches the image on your ID. After your identity is verified, you can begin trading on the Bittrex platform. Bittrex has put a good deal of effort into the security of customer assets. For traders that frequently travel, Bittrex offers a mobile app available on IOS and Android devices. The app has a 4.6/5 star rating with over 3,000 reviews on the Apple App Store, the exchange is often praised for its ease of use and performance on mobile devices.

  • The company was founded by engineers and experts with decades of combined experience in the industry.
  • If you’re going to trade on Bittrex often, this feature could certainly save you a decent chunk of change.
  • While the order book interface is Bittrex’s primary offering, the exchange also supports instant buys using a bank card or an account balance.
  • Afterward, it’s relatively easy to navigate, especially when you already know the coins you’d like to trade.

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