Bittrex Review: The Must Read Cryptocurrency Exchange Guide

This Bittrex Review

goes over the crypto trading platform founded in 2014. With a yearly volume of more Ahan $1 trillion, you can trade major cryptocurrencies. Some of the popular cryptocurrencies can be traded such as Bitcoin, Ethereum, Ripple, and other cryptocurrencies. 

Bittrex offers very competitive fees on trading with fees that start as low as 0.02%. Payment methods with debit cards, credit cards, and cryptocurrencies are supported to fund your account and withdraw funds. The deposit and withdrawal process doesn’t take so long and you have no fees when you deposit or withdraw. 

You cannot buy or sell cryptocurrencies with the Bittrex platform, but the transferring process of your crypto funds into the Bittrex account is very smooth. The trading platform allows you to trade with many features and tools. You can use analytical tools to analyze the charts or switch to different time frames. 

The trading platform it’s available through the Bittrex website and mobile app. You can download the mobile app and trade from your smartphone. But, if you want to have a smooth experience in trading to analyze the crypto markets, then the web version its more reliable to use.

Bittrex it’s regulated and licensed in countries as United States, United Kingdom, Canada, Australia, Germany, France, Spain, Italy, and other countries. But there are restrictions on some countries so you cannot use the Bittrex. The verification process is required so you’ll need to verify your account with an identity document and verify your address too.

Supported Cryptos

Bittrex supports more than 20 cryptocurrencies, altcoins, and tokens.  You can only trade in the trading platform that’ available on the Bittrex website or use the mobile app. Currently, you cannot buy or sell Bitcoins or other cryptocurrencies.

With Bittrex trading platform, you can trade Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Verge (XVG), Cardano (ADA), Siacoin (SC), Monero (XRM), Dashcoin (DASH), Dogecoin (DOGE), Iota (IOTA), and many more cryptocurrencies, altcoins, and tokens.

The full list of supported cryptos, altcoins and tokens can be found from the link below:

Supported Countries

Bittrex it’s available for clients from the United States, the United Kingdom, Germany, Spain, Italy, France, Australia, Canada, Japan, South Africa, and other countries.

But not all countries are supported, so the Bittrex service it’s limited in some countries. The users from the following countries, cannot join the Bittrex.

Afghanistan, Egypt, Bosnia-Herzegovina, Botswana, Cambodia, Central African Republic, the Democratic Republic of the Congo, Côte d’Ivoire, Ethiopia, Eritrea, Ghana, Guinea, Guinea-Bissau, Guyana, Iraq, Laos, Lebanon, Libya, Maldives, Pakistan, Sri Lanka, Somalia, Sudan, South Sudan, Trinidad, and Tobago, Tunisia, Uganda, Vanuatu, Venezuela, Yemen, and Zimbabwe.

Trading Platform

The crypto trading platform has a volume of more than 1,000 Bitcoins per day. As we mentioned, many cryptocurrencies, altcoins, and tokens are supported. You can trade pairs as USD/BTC, USD/ETH, USD/XRP, USD/TRX, and many more pairs. 

Spreads start as low as 0.0% on USD/BTC pair, in some other pairs, spreads are more widger. Besides the USD pairs, you can also trade crypto coins with Euro, such as EUR/BTC. EUR/ ETH and more.

You can access the trading platform once you create an account. The trading platform uses a simple design, but that’s easy to use. On the top menu, you have the option to choose the crypto markets. 

All the supported pairs can be selected to appear on the chart table. Just below the top menu, you have the chart that you can view and analyze the crypto markets. You can change time frames to higher and shorter time frames. 

On the right side, you have the information’s about the crypto volume. The ask price and price are shown for the current crypto pair that you have on the chart. You can also get information about the crypto volume such as the lowest price and highest price during the 24 hours.

And at the bottom of the crypto platform, you have the buy and sell tables. You can execute sell and buy orders very quickly and also open pending orders too. The total balance of each cryptocurrency will show in the buy or sell the table. The “Orderbook”, shows your current open and pending transactions. 

You can also view your past transactions on a different period. When you place an order, a notification box will appear on the top right of the crypto platform. The alert with the blue background, confirm that you have opened an order but it’s not executed yet. 

Once your order is filled, then another alert with a green background color will appear. And that confirms that your buy or sell order has been filled. You can also visit the “Order” page on the top menu to see your current open orders. And also view your past buy and sell orders.

Funding & Withdrawal

You can deposit only with debit cards, credit cards only by using the mobile. Other payments method such as bank wire transfer or electronic payments are not supported. 

You can deposit with cryptocurrencies only through the Bittrex website. You’ll need to have a wallet first so you can make the deposit transaction. To use an online wallet you can choose Blockchain wallet, MyEther Wallet, and other wallets. 

Once, you have created a wallet, you will have to deposit funds from your wallet to the address shown during the deposit process. Deposits with Bitcoin can take more than 1 hour to be processed because of blockchain network confirmation. 

Bittrex charges a fee of 0.0005 BTC or more for withdrawal requests. You can withdraw funds similar to the deposit method, with only cryptocurrencies. The withdrawal process can take hours or days to be processed in your account. 

You will get charged only for the transaction fees such as the mining fee and other fees. To process your payments faster, you can increase the transaction fees. 

For e.x, when you deposit with Bitcoin, you can increase the mining fee so the transaction will be confirmed faster. It takes minutes for 1 blockchain network confirmation. But if you increase the mining fee, then your transaction could be confirmed much faster.

Fees

30-day volume (USD)	Maker Fee	Taker Fee
$0K – $50K	0.20%	0.20%
$50K – $1M	0.12%	0.18%
$1M – $10M	0.05%	0.15%
$10 – $60M	0.02%	0.10%
$60M+	0.00%	0.08%

Account Verification

You can choose to create a personal or corporate account. The corporate account will require you to fill more information. The verification is required after you complete the verification by email. So you will have to verify your account before you start trading.

As part of the identity verification, a passport, a driver’s license, or an identity card are supported. You need to take a photo of the identity document that you have chosen and submit it. You will also be required to take a photo of your driver’s license or identity card on both sides. 

Verification’s possible through the mobile app too, so you can use your mobile phone to verify it. The verification process can take up to 10 minutes according to the Bittrex website. If you fail 3 times to verify your account, you will have to contact the support team by submitting a ticket. 

You must keep the verification page on the website open until the verification is finished. Users from the United States will have to provide the Social Security number. Or, you can use the Alien Identification number or Passport number.

Security

Two-Factor Authentication is not required to use the Bittrex website. But, we recommend you to enable the 2FA as it can help you increase your account’s security.  You can add the 2FA from your account tab menu and click the Two-Factor Authentication page. 

Before you set up the 2FA, you need to back up your security key. You can the Google Authenticator or other authentication apps to scan the QR code. An email will be sent to your email to verify your 2FA setup. You need to click on the link provided in your email, so the 2FA will be activated. 

The activation link is valid for 24 hours only, so after 24 hours you need to restart again with the 2FA setup. You can also set up the 2FA through your phone. Bittrex does not allow you to use your phone number with 2FA.

Other features are available that can help you to add more security levels in your account. You can add your IP to the whitelist, so your IP will be allowed to access your Bittrex account. If you set up a wrong IP address, then you need to contact the support team to solve that issue. 

You can use the crypto address whitelist feature to restrict other wallet addresses. Once you set up your crypto address from your wallet, all of the withdrawals will have to be made on that address. If you try to use another address, then you need to add that address on the crypto address whitelist.

Another security feature available in the IP verification procedure. During the first time when you log in to your account, you need to verify your IP Address. A confirmation will be sent in your email, so you need to click on that email link to approve the sign-in. 

Bittrex will not ask you to approve your login if you use the same IP address. If you try to access your account from another IP Address, then you need to approve the log-in.

Create an account

1. Start the account registration process here.

2. Choose whether you would like to create a Personal or Corporate account by selecting the appropriate Account Type button.

3. Enter your email address into the E-mail address field. This will also be your Bittrex Global username.

4. Enter a password into the Password field. Passwords must be at least 12 characters long. 

5. Click Create Account. A verification email will be sent to you. Navigate to your email inbox and click the “Verify Email” link in the email to verify your email address.

6. After successfully verifying your email address, you will be asked to review the Terms of Service carefully. 

7. You will be directed to submit your Basic Profile information. 

8. Characters and symbols from other languages cannot be processed and will result in a failed verification. Names will be read directly from your ID and entered your profile.

9. Click Continue to move on to ID Verification. All Bittrex Global accounts must be verified with government-issued identification. 

Referral Program

With the referral program, you can earn a 10% commission from your referred clients. You find your referral code into your account by clicking on the referral program tab. You can share the referral link on social media such as Facebook, and Twitter. 

You can also send the referral link via Telegram or Email. The referral can take up to 7 days to be calculated, and you can see the numbers of your referred clients. 

Each commission from your clients will be paid based on the pair traded by your referred client. So, if your referred client has traded BTC/BCH, your commission will be paid in BTC (Bitcoins).

Client Support

The Bittrex Global Support Team offers live chat Monday through Friday from 6:00 AM to 4:00 PM PST. To access the live chat, you need to login to your support account. You can also the ticket system to submit any ticket to the support team. 

Submitted tickets can be tracked by visiting the support page. Bittrex does not offer client support through phone. You can visit the Frequently Asked Questions (FAQ), to find information about the Bittrex platform.

Summary

Bittrex is a an advanced trading platform that has low fees in trading. When you deposit or withdraw funds, you will be not charged with any fees, except for the transaction fees.

The trading platform supports a lot of cryptocurrencies, altcoins, and tokens too. So you have many options to trade in the crypto markets.

Security is very important, and Bittrex provides many alternatives to that. You can use features such as IP verification, IP whitelist, Crypto address whitelist, 2FA.

In general, we can recommend to trade you with Bittrex trading platform.

Get Started with Bittrex here!