Looking for a Bittrex exchange review? you’re at right place.
Bittrex exchange offers many trading pairs into Bitcoin, including all the major cryptos, with very high turnover and two-factor authentication security. Apart from this, it is not allow any pump and dump schemes. This is what user demands from all the major exchanges.
Here we bring you a complete Bittrex Exchange review. How does it work? Is this exchange worth the investment for you?
We will answer all your questions in our deep extensive review of the platform.
Quick Navigation :
- What is Bittrex?
- How Does Bittrex Stand Out?
- How to add and withdraw Coins in Bittrex?
- Bittrex Fees and Security
Latest updates and announcements
Sep 7, 2019: Bittrex Exchange Conducts WAX-WAXP Swap From ERC20 Token To New Mainnet Blockchain
Aug 5, 2019: Bittrex lists ERC-20 Tether (USDT)
June 10, 2019: Bittrex Exchange upgrades their blockchain from Syscoin 3.0 to Syscoin 4.0.
June 8, 2019: US Customers no longer can access Bittrex from 21/06/2019
May 30, 2019: The Bittrex Exchange lists the DigixDAO wallet and the Origo wallet for trading.
May 23, 2019: Bittrex Exchange completed the META blockchain upgrade to the new Mainnet. Deposits and withdrawals on the blockchain are now open.
May 22, 2019: Bittrex announces its partnership with iBitt Exchange that will launch a new digital asset trading platform in Chile and Peru.
What is Bittrex?
Bittrex is a platform for trading digital currency or to be precise, cryptocurrency. One of the biggest challenges for the trading community is security. A trustworthy and secure infrastructure is essential to operate an online transaction. Thus, a group of security professionals founded Bittrex. The founders of Bittrex are Bill Shihara (Co-founder & CEO), Richie Lei, Rami Kawach and Ryan Hentz.
Bittrex, developed and operated in the United States, is responsible for the fast and easy trading of cryptocurrency. Being in the domain of development and security, Bittrex has been serving its clients for almost 50 years. Bittrex prevents any security breach by following strict authentications and high-end technology.
How Does Bittrex Stand Out?
Cryptocurrency runs only on online networks and uses cryptography for its security. Even though the technology is advanced, cybercriminals still find their way to make the product vulnerable. Thus, Bittrex provides a safe platform for currency exchange. However, the major crypto exchanges are Litecoin, Darkcoin, Nextcoin, and Ethereum.
Custom trading engine:
Bittrex has a custom trading engine that uses elastic computing technology. This trading engine supports instant transactions without any delay. For maintaining security, Bittrex uses multi-stage wallet plan so that 70-90% of the currency can be kept offline. The Client also has to go through a two-step verification process for any withdrawals or deposits.
Automated Monitoring Platform:
Bittrex has automated monitoring platform. Thus, it updates the client in real-time. Any information related to deposits, withdrawals, wallet balance etc. is easily available and accessible. Moreover, the Application Program Interface (API) allows quick and secure exchange of currency.
Robust Trading Network:
Thus, this Exchange allows high-frequency trading network, which is both robust and reliable. The trading experience for individuals or business owners has become overwhelming. Bittrex is also tested for a secure network to assure quality as per industry standards. However, Bittrex has collaborations with a bunch of financial experts for legal structuring.
How To Add and Withdraw Coins?
After successful login, Click Wallets. Click the next to the currency you wish to deposit. Click “New Address” to generate your address. Some coins require a minimum amount to be sent before they are credited.
Some coins will require a message/payment/tag/memo and you need to send the coins to the address provided by them and attach the message/payment/tag/memo to the deposit. Furthermore, if you do not attach this, you will risk losing these funds.
You can now send your coins to this address. Please make sure that you send the same coins to this address. If you deposit a different coin to a different address, then you risk losing these coins permanently.
Click Wallets in the upper right of the page. Click the next to the coin you wish to withdraw. Enter the Address and Quantity that you want to Withdraw. Make sure the address you enter is of the same coin you are withdrawing. You cannot withdraw coins to another coins address.
For some coins, you must provide the message/payment/tag/memo for the withdrawal, so that the coins can be routed to the receiving wallet. If you do not attach this, you will risk losing these funds. Check with your receiving wallet’s deposit instructions for the coin you are sending. Click Withdraw.
The minimum withdrawal for all coins should be greater than 3 times the fee. For example, BTC has to be .00150001 or greater as the fee is .0005
Choose your desired trading pair on the markets page. Place Your Order: For a basic trade, focus on Order Book. Here you can view all orders of other users.
Choose the price and quantity you prefer. Any order that significantly below asks prices may not be fulfilled. Before placing your order you need to confirm it, here you will have the option to cancel orders.
Bittrex Fees and Security
All trades are charged 0.25%. There are no fees for deposits. But, some coins require you to move your funds to another address before they are credited them. And, for withdrawal each coin has a network transfer fee that is built into the coin. clicking the to view the fee for a coin.
Fiat Deposit and Withdrawals – No fees for USD deposits and withdrawals.
The exchange team consists of “security freaks” that are focused on keeping their customers safe at all time. Bittrex provides top-notch security standards. Furthermore, to 2-factor authentication, the platform has stringent verification standards for Enhanced accounts. Also, the platform uses a multi-stage wallet strategy to ensure that 80-90% of client funds are held offline.
Overall, in the Bittrex review we conclude that the security and reputation at Bittrex is better than it’s competitors. Moreover, the platform has many trading pairs to exchange against Bitcoin and Ethereum. Furthermore, It’s a platform for new generation digital trading, which has no dependence on flat currency or traditional currency.
Them not charging any fee for deposits and low withdrawal fee is also another major draw. If you are looking for a cryptocurrency exchange which has special importance on security, then Bittrex is the exchange to look out for.