Bittrex review 2023
Bittrex review Summary
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Bittrex offers a fast, stable platform that’s ideal for beginners and experienced cryptocurrency traders alike. Along with all the most popular coins, like many altcoins exchanges – 1,000s are available to trade on Bittrex as well, while it also provides cold storage security for your holdings. Continue further into our review for more.
What can I do with Bittrex?
Trade more than 300 altcoins with near-instant transaction speeds and fast withdrawal times. It’s a specialised spot exchange, which means you can’t trade on the margin, but it does include all the other basic trading functions you’d expect, like order limits and charts.
Its primary focus is on security and providing a reliable cryptocurrency exchange, which it does through two-factor authentication for all users and a host of additional security measures to provide multiple layers of protection.
Pros & Cons
Pros:
Cons:
Bittrex cryptocurrencies and trading options
What cryptocurrencies can you trade on Bittrex?
All of the most popular coins are included in the 300 or so tokens that are available on Bittrex. You can trade Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Chainlink (LINK) along with lots of other altcoins.
Leveraged tokens were also recently introduced and are aimed at experienced traders, as they offer increased exposure and risk.
Major cryptos traded on Bittrex
- Bitcoin
- Ethereum
- Aragon
- Crypto.com Coin
- Cardano
- Tether
- Chainlink
- Digibyte
- XRP
- NEO
- Tron
- Deapcoin
- Uquid Coin
- Litecoin
- Monero
- Bitcoin SV
- Stellar
- Tezos
- Verge
- Quant
Bittrex core currency pairs
- ANT/ETH
- CRO/BTC
- ETH/BTC
- CRO/ETH
- Link/BTC
- XRP/BTC
- TRX/BTC
- Link/USDT
- XLM/BTC
- ADA/BTC
- ZEC/BTC
- BAT/BTC
- SENSO/ETH
- BCH/ETH
- XMR/USDT
- ZRX/BTC
- VLX/BTC
- RDD/BTC
- VTC/BTC
- VET/BTC
All Bittrex trading options
Bittrex is a spot exchange so it only offers coins, tokens, and pairs trading.
| Product | Offering |
|---|---|
| Cryptocurrencies | 320 |
| Crypto pairs | 563 |
Can I trade with leverage on Bittrex?
Bittrex doesn’t provide leverage margin trading options for its cryptocurrencies. The recently-introduced leveraged tokens are the only assets that can be traded for 1:3 leverage but they are only available to professional account holders at this time.
Margin trading or leverage is a complex form of trading and is not suitable for beginner traders. It carries a high degree of risk and is only recommended for professionals.
| Product (CFDs) | Maximum leverage | Margin |
|---|---|---|
| Leveraged Tokens | 1:3 | – |
What are the spreads?
Bittrex doesn’t offer spreads for their traded cryptocurrencies, instead it charges 0.2% fee for both maker and taker orders, which is slightly higher than other cryptocurrency brokers.
Fees, limits, and payment options on Bittrex
Bittrex charges a 3% processing fee for all withdrawals made through Visa or Mastercard credit cards. The maximum amount of money you are allowed to withdraw per month is $10,000, or the equivalent in EUR.
You can deposit USD or EUR to your Bittrex account through international wire transfer or debit/credit card.
| Payment method | Deposit | Withdraw |
|---|---|---|
| Cryptocurrency – min/max – fees – speed | Yes 0.001 BTC/None Free Instant | Yes 0.001 BTC (3x greater than the withdrawal fee)/100 BTC 0.0005 BTC Instant |
| Debit/Credit card – min/max – fees – speed | Yes $50/None Free 24 hours | Yes $50/$10,000 per month 3% 1-2 business days |
| Bank Transfer – min/max – fees – speed | Yes $50/None Free (only bank wire charges apply) 1-2 business days | Yes $50/$3,000 Free (only bank wire charges apply) 1-2 business days |
How much are Bittrex’s fees and commissions?
Bittrex fees start at zero for the maker and 0.08% for the taker for large trading volumes. For most traders with trade volumes of up to $50,000 per month, fees are 0.20% for each side.
| Fee type | Fee amount | Commission |
|---|---|---|
| Crypto trading | 0.20% | -N/A |
Bittrex trade sizes and limits
The minimum trade size with Bittrex is 50,000 Satoshis. There is no maximum trading size but you will have to contact the customer support if you wish to trade volumes bigger than the equivalent of $10 million USD.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Cryptocurrencies | 50,000 Satoshis | None |
Bittrex trading platform
What devices can I use Bittrex on?
Bittrex offers a user-friendly online trading platform. It also offers a highly rated crypto app known as Bittrex Mobile, which is available to download via Google Play Store (for Android devices) and the App Store (for iOS devices) worldwide.
- PC
- Tablets
- Android mobile devices
- iOS mobile devices
Can I use Bittrex in my country?
Bittrex accepts clients from around the world, except those from countries with specific trading regulations and laws such as: Cuba, Crimea, Iran, Syria, North Korea and the United States. Select your country from the list below to see if it is available where you are.
Is Bittrex available in my language?
Currently, Bittrex only offers support in the English language.
How easy is it to use Bittrex?
Bittrex is a platform designed to favour simplicity over advanced features. That makes it easy to use, and its extensive knowledge base is a big help for beginners who are just getting started.
Its proprietary trading platform was built using cutting-edge technology, so it processes trades as soon as they occur in real-time, has plenty of variety in terms of supported coins/tokens, and has a streamlined account verification process in partnership with Jumio where you only need to give your name and address.
Key features
Bittrex is a little light on advanced features and tools. But it does possess some robust capabilities. Here are some of the broker’s key features.
Fast Trade Execution
The trading engine was custom-built for scale and speed to facilitate real-time order execution under heavy demand.
State of the Art Security
Trust matters when it comes to depositing and storing your funds and Bittrex understands this perfectly. Security has been one of their top considerations and the platform was built from the ground up with several layers of protection, such as two-factor authentication and 90% of funds being held offline in cold storage.
Cold Storage Wallet
The highest grade no-fee wallet that is available on the market today.
Security and regulation
Is Bittrex safe?
Yes, Bittrex has never been hacked and it provides some of the most secure protocols in place to keep hackers and cyberattacks away. It uses IP verification and multi-factor authentication to protect your funds and account information.
Am I and my cryptocurrency protected?
Bittrex has insured digital assets held in its offline, cold storage wallets to up to $300 million. This is one of the highest voluntary coverages provided by a cryptocurrency exchange. The insurance was underwritten by Arch Syndicate, which provides specialised insurance for corporations.
Is Bittrex regulated?
Bittrex is not a regulated exchange under the U.S. securities laws. Bittrex Global operates within the framework of the Transactions System Based on the Trustworthy Technologies Act (“the Blockchain Act”).
Bittrex Global is also supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act. The company is required to comply with the KYC/AML/CFT standards under the same Due Diligence Act.
Do I have to verify my account with Bittrex?
Yes, all Bittrex accounts must be verified. When creating an account you have two options to choose from, depending on whether you’re setting up a personal or corporate account. The corporate account requires more information and a more detailed application process. No matter the type of account you opt for, you will be required to provide a valid form of photo ID to verify your account and start trading with Bittrex.
Extra information
Educational resources
Bittrex provides a rich support section. In the main page footer you can, access the “Support” page. You will be redirected to a page that contains several sections, including “News and Announcements”, “FAQ”, and “Coin Information”.
There you will find a wide section of articles available on how to trade, open an account, deposits/withdrawals, and other useful information.
Tools and charting
Bittrex’s tools and charts are limited. But for traders who like to develop their own trading algorithms and crypto bots, Bittrex API is a good option.
Bittrex provides a full REST API and WebSocket API, meaning you can develop your own trading scripts and use them to automate your trades.
Customer support
In addition to a thorough FAQ section, Bittrex provides customer support via tickets, email, and live chat. On the website’s main page, simply go to the bottom and select “Contact Us”.
In the past support tickets seem to have taken a long time to get settled, but the platform has publicly apologized for this and appears to have gotten their response times down.
Our verdict
Bittrex is a trusted cryptocurrency trading exchange. It’s regulated, safe to use, and welcomes clients from around the world with minimal trade fees.
It’s designed for both beginners and professionals, with its basic real-time exchange features being enough for those just starting out and a simple and powerful API provided for pros that require the customisation.
Some drawbacks are that you cannot open a demo account, the customer support and website are only available in English, and there are no other trading assets available aside from cryptocurrencies and leveraged tokens at this time. Still Bittrex is a safe, easy to use, no frills exchange.
How to buy and sell cryptocurrency with Bittrex
How to buy crypto on Bittrex
- Create your account on Bittrex
- Deposit an amount to your account (USD, bitcoin or altcoin)
- Once you have your preferred currency in your wallet, choose a currency to buy on Bittrex
- Place a regular limit order and click “Max Buy” to convert your deposited currency into the crypto you want to buy
- Click “Confirm” and, once the trade clears, click on “Wallets” to see your transaction.
How to sell crypto on Bittrex
- Start by depositing US dollars, Bitcoin, or altcoins into your Bittrex account.
- Go to the top right corner of the screen and click “deposit”, then you will see a pop-up window on the screen where you can select the currency and the amount you are depositing.
- Choose a currency to sell
- Click “Sell” and then click “Confirm”
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