Still one of the best
Whether you’re new or not, you’ve probably heard about Bittrex. After all, it’s been around for some time and has proven to be one of the most reliable and secure exchanges available that is still active and healthy to this day.
If you’re new or looking for an exchange, this short review will tell you everything you need to know about Bittrex. So stick around, this might be the one you’re looking for.
What does it offer?
During the time it’s been active, Bittrex has aimed to distinguish itself from its competitors, and although that’s becoming harder as time passes with other excellent exchanges joining in, rest assured knowing that Bittrex has you covered. Here are some of its main features:
- A highly secure platform with some of the best security technologies currently available.
- A scalable trading engine that is able to process and execute orders instantly.
- Deposits and withdrawals work through an automated monitoring platform, which means they’re executed in a fast and efficient manner.
- Remarkable customer support that runs on a separate support page to avoid any potential issues with the main site. Additionally, you can also contact them through social media and can expect a fast response.
- Hundreds of cryptocurrencies available for you to trade with the ability to trade up to 1 BTC a day with an unverified account and 2 BTC with a basic one with 2FA enabled.
- Fixed fees of 0.25% on all trades regardless of the coin you’re trading.
- User Friendly trading GUI.
What does the community think of it?
As of 2018, you’ll find that there are mixed opinions on Bittrex. This has mostly to do with the fact that a while ago several thousand Bittrex accounts where disabled for no apparent reason, which resulted in an uproar. However, later on a statement was released by Bittrex that explained why this happened.
Most, if not all of the accounts involved in this event were unverified ones or accounts that were suspected of being involved in some sort of shady activity, and since they have to comply with several US regulations and wanted to keep their platform fully secure, this was necessary. In the end, a tiny percentage of accounts in Bittrex were affected (less than 0.1%), but the event left a bad impression for a very vocal minority.
Pros & Cons
- Trading fees are uniform among all currencies.
- Supports hundreds of cryptocurrencies.
- Great customer support, which is something many exchanges are still lacking.
- Verifying your account is fast and easy.
- A nice, beginner friendly GUI.
- No support for fiat trading.
- No options to make fiat payments.
Despite the aforementioned event being somewhat of an anomaly, you’ll find that the pros outweigh the cons in the case of Bittrex.
To sum it up
Even though its reputation suffered slightly during an unfortunate event, Bittrex has still shown to be a very reliable, secure and easy to use exchange as of this year, so even if you don’t end up using it, we encourage you to check it out here.
Funded back in 2014, Bittrex came from the ambition of now Co-founder and CEO Bill Shihara to develop a truly secure and reliable exchange. At the time, security breaches, lack of transparency and other similar issues were very common, which is what Shihara aimed to change. For that to happen, a team of security and development experts with over 50 years of combined experience was assembled for the creation of Bittrex.
The end result of this was an exchange that to this day has not suffered a single hack or security breach, and an exchange with some of the healthiest trading volumes, healthy enough to consistently put it among the top exchanges.