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ScandiCrypto » Crypto Exchanges » Bittrex Review

January 26, 2023 by Editorial Staff

Bittrex Review

Bittrex logo
4/5
Go to Bittrex
Bittrex
Name: Bittrex
Website: www.bittrex.com
Established: 2014
Headquarters: Las Vegas, USA
Fiat to Crypto: Yes
Crypto to Crypto: Yes
Cryptocurrencies: 300+
Margin Trading: No

About Bittrex

Bittrex is a long-established US crypto exchange that was founded in 2014. The founding team consists of computer security experts with over 40 years of shared experience and prioritizes security in their development decisions. Its trading platform has been praised for its speed and stability, and it has never been hacked during its existence.

One of Bittrex’s biggest advantages over other exchanges is the number of cryptocurrencies that can be traded on its platform. In fact, it is one of the best crypto exchanges when it comes to supporting different cryptocurrencies.

Trading on Bittrex

One of the most important services Bittrex offers is its trading platform. The platform lists a variety of cryptocurrencies and allows the execution of standard spot trading orders flawlessly.

In addition to regular spot trading, Bittrex is filled with trading functions such as stop loss orders, ladder limit orders, instant purchase and technical chart tools required by more advanced traders. Best of all is the loading times and responsiveness of the site, which is much better than many of Bittrex competitors.

BittrexBittrex✔️ Beginner friendly
✔️ Great support
✔️ 300+ cryptocurrencies
4/5
Go to Bittrex

Bittrex Mobile App

For all the mobile traders out there, the good news is that Bittrex is a very convenient platform. Recently Bittrex launched their own native app that works just as well on both Android and iOS devices.

The Bittrex trading app allows you to do all the basic functions such as deposits, withdrawals, adding cryptocurrencies into a watchlist and trading. Our overall experience with the Bittrex mobile app is that it’s extremely user friendly and a great tool for trading on the go.

Payment Methods and Trading Fees

The trading fees on Bittrex are relatively high compared to the industry average. Here there is a flat 0.2% fee applied to all transactions which can seem a bit high for day-traders. However, if you reach a certain volume of trades within a 30 day period the fees will reduce slightly.

In terms of available payment methods, Bittrex has you covered with the basics. Here you can use the following methods for depositing and withdrawal:

  • Banktransfer
  • VISA
  • Cryptocurrency

There is a small fee of 3% when depositing with VISA but for all other forms of deposits are completely fee-less. For withdrawals in crypto there is a small fee applied and it varies based on the specific cryptocurrency one wants to withdraw. If you withdraw funds in a FIAT-currency there are no fees applied.

Bittrex Customer Support

In contrast to Bittrex’s first-class security rating, the biggest drawback of the exchange is customer service. It offers a standard FAQ page and a ticketing system but, it’s missing a live chat which is preferred by many traders. Overall we had no problem with the support when we tried, but unfortunately it can be a bit slow.

Our Verdict

Bittrex is a trusted choice if you are looking for a Fiat-Crypto exchange with a large array of altcoins. With recent updates such as their mobile app, it has become one of the most attractive trading options in the cryptocurrency market. It has no controversial features such as margin trading, but everything Bittrex has to offer works extremely well.

Pros and Cons

✔️ Pros❌ Cons
Beginner friendlyNo unique trading features
Great support
300+ cryptocurrencies
BittrexBittrex✔️ Beginner friendly
✔️ Great support
✔️ 300+ cryptocurrencies
4/5
Go to Bittrex

Bittrex FAQ

What cryptocurrencies are available for trading on Bittrex?

Bittrex offers trading of over 250 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others.

How does Bittrex ensure the security of my account?

Bittrex uses a multi-stage wallet strategy to ensure that the majority of funds are kept offline in cold storage, and implements multiple layers of security, including two-factor authentication, to protect user accounts.

How can I deposit funds into my Bittrex account?

Bittrex supports the deposit of various cryptocurrencies, such as Bitcoin, Ethereum and Litecoin. You can deposit crypto to your Bittrex account by sending it to the deposit address provided in your account.

How do I make a trade on Bittrex exchange?

To make a trade on Bittrex, you must first deposit funds into your account by sending cryptocurrency to your deposit address. Once your deposit has been confirmed, you can then place an order on the trading platform by selecting the desired trading pair and placing a buy or sell order at the desired price point.

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