Bittrex Review

Overview

Bittrex is a new, but successfully and dynamically developing site to trade in crypto currencies.

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Details

BrokerBittrex
Website URLbittrex.com
Founded2015
HeadquartersUSA
Support TypesEmail, Facebook, Twitter, Slack
Trading PlatformVolfix
Free Demo Account No
Account TypesNew, Basic, Enhanched
Deposit MethodsBitcoin, Ethereum, Litecoin, Dash, Ethereum Classic, Monero, Zcash, etc.
Withdrawal MethodsBitcoin, Ethereum, Litecoin, Dash, Ethereum Classic, Monero, Zcash, etc.
Number of Assets200+
Types of AssetsBitcoin, Ethereum, Litecoin, Dash, Ethereum Classic, Monero, Zcash, Neo, Internet Of People, Aeon, Ark, FunFair, OkCash, Komodo, Lisk, AdEx, etc.
Account CurrencyCrypto currency
US Traders Allowed No
Overall Score9.7/10

Full Review


The Bittrex crypto exchange has been operating on the market since 2015, being one of the newest services having to do with crypto assets. Nevertheless, it has gained momentum, constantly increasing the number of its users. Today it can be seen in the TOP-10 of crypto exchanges by the volume of trading. It’s popular in many countries especially in the United States because it offers an impressive selection of cryptocurrencies to deal with – more than 200. In addition to this, the trading platform is reliable, simple and easy to use.

Of course, you’d like to know whether Bittrex is a fraudster or it’s a reliable platform, which ensures safe trading and trouble-free withdrawal of earnings. We’ll answer this question here below.

Bittrex review

The ambitious American crypto exchange has already gained the trust of thousands of traders around the world. It’s popular with English-speaking traders and those speaking other languages. The advantage of this crypto exchange is that it offers advanced trading opportunities and guarantees instant execution of orders and a stable and secure withdrawal of funds. A huge plus, which makes it competitive in the market, is its outstanding reliability as well as maximum safety. Thanks to the technology of so-called «cold storage», it’s absolutely impossible to steal funds from traders – all user data is located on servers that do not have a network connection. As for account protection, it’s ensured via a two-factor authentication.

The main advantage of Bittrix is represented by 260 pairs of digital currencies, including rare digital coins (it gives grounds to compare the exchange with the market leader Poloniex). Here it’s worth noting low commissions, a highly responsive support service and an absolute absence of hacking and theft of traders’ funds in the history of the exchange. What dominates trading on the platform throughout the trading day are operations with Bitcoin (make money on bitcoin’s) and a digital analogue of the evergreen buck – USDT (Tether). Two types of markets are available to traders: Bitcoin and USD. On one market currencies are traded against the US dollar, while on the second one they’re traded against Bitcoin. Other popular digital currencies on the exchange include Neo, Ethereum, Monero, Ripple, Bitcoin Cash, etc. Not every leading crypto exchange can boast such a rich choice of digital coins.

There’s nothing surprising in the fact that the given crypto platform is so popular with a lot of traders. Well, it’s characterized by a simple interface, which is suitable especially for beginners of crypto trading (read here how to earn on cryptocurrencies). The trading terminal is considered to be one of the most convenient on the market. Among its features one should mention a chart of price dynamics, candles, indicators, a book of orders; here you can get information about orders for the purchase and sale of cryptocurrencies, get familiar with the book of orders and the history of transactions. Another interesting feature on the site bittrex.com is a new service «Lab». It’s a kind of laboratory with a bunch of useful functions: Any2Any Convertor converts cryptocurrencies, Auto-Sell makes it possible to automatically sell the currencies indicated in Bitcoins, the calculator is capable of pre-calculating the amount of profit and loss (this feature is being developed).

The Bittrex exchange was one of those companies, which applied for a BitLicense license (it’s the license of the New York Financial Services Department, which decided to independently regulate cryptoexchanges). The process turned out to be complicated and time-consuming – the application is still being considered today. The exchange looks quite reliable and protected – for the whole period of its work there weren’t any hacker attacks and thefts of money, which makes it more trustworthy.

 

Replenishment and withdrawal of funds

When it comes to replenishment and withdrawal of funds the crypto exchange supports only digital currencies, fiat currencies aren’t supported.  Therefore, to replenish your trading account, you need to initially buy a cryptocurrency. Bitcoin would be the best choice because it trades with all the altcoins, which appear to be analogs of Bitcoin.

To replenish the account, you need to go to the bittrex.com site in the «Wallets» section, select the necessary cryptocurrency and transfer it from your wallet (or from another crypto service, using exchangers) to a special address. The withdrawal of funds takes place in the same tab. The most common methods of replenishment include:

  • Bitcoin;
  • Ethereum,
  • Litecoin,
  • Dash,
  • Ethereum Classic,
  • Monero,
  • Zcash and others.

In order to easily withdraw money from the exchange, starting from 2017 all new users of the crypto exchange should undergo a simple and fast verification. The withdrawal is carried out within two days, but more often it doesn’t happen this way, which is confirmed by numerous reviews of traders about the long withdrawal.

 

Complaints about Bittrex

The Bittrex exchange is very popular; therefore there are more than enough reviews about it on the web now. Traders positively note its reliability, a rapid verification, a user-friendly interface, a large selection of digital coins, a simple process of trading. The exchange has a reputation of one of the safest services to work in the crypto market.

Nevertheless, there are enough negative reviews. As a rule, they point to the problem of a long withdrawal of funds, a problematic verification, blocking of accounts without explanation, lack of communication with managers, lack of support of fiat money.

If we find complaints about Bittrex, we will post it on social media. Follow us to be well informed:

 

Regulation of Bittrex

The Bittrex exchange, LLC is an organization, officially registered in the US. It follows the regulations of the regulatory country. The company collects certain information about its customers and their preferences regarding the resource (AML) in order to improve the service and ensure the most complete identification of the individual. Additionally, this data will help to resolve various issues, prevent illegal activities with the resource (fraud, criminal deeds, terrorism), etc. More information is provided in the «Privacy Policy» section of the Bittrex website.

The exchange collects data about users using cookies, which allow the company to get a lot of information: about using the site, user actions, personal information, applications, etc. More information about Cookies is available in the «Cookies» section of the Bittrex website.

Read the Privacy Policy on the Bittrex Exchange website
Read the Cookies Policy on the Bittrex website

 

Is Bittrex a scam?

The Bittrex exchange is currently one of the most popular sites on the market. It’s included in the TOP-10 of crypto exchanges by the volume of trading. The company is all geared up towards becoming a leader in its niche, and it’s dynamically gaining momentum (by the volume of trade operations, the number of users, etc.). In spite of the fact, the crypto exchange still has a minimal work experience, but it already has a lot of regular customers who trust its reliability and security, which allows it to seriously compete with market leaders.

Many traders around the world prefer this platform to other more popular crypto exchanges due to its convenient and intuitive interface, a variety of options, an informative personal cabinet and a very comfortable trading process. Such an impressive choice of currency pairs, about 260, is another crucial factor that attracts traders and those who prefer trading in rare digital coins on the platform.

Unlike Poloniex, this platform has never faced any hacker attacks and it greatly contributes to the users’ trust in the service. Being aware of the everlasting exposure to hacker attacks in the cryptocurrency market (learn here whether cryptocurrencies are a scam), the developers of the company implemented the so-called «cold storage» of funds, which does not allow to steal money. This new technology hasn’t failed the exchange yet. Besides this for the protection of traders’ accounts, a two-factor authentication is used.

The Internet offers a lot of reviews about Bittrex. Among positive moments, traders point to the overall reliability and security of the exchange, the simplicity and convenience of the platform, a large number of digital coins for trading. As for negative feedback, also available on the web, here traders are mainly concerned with a long withdrawal of funds, a long verification and blocking of accounts without explanation, mediocre communication with the technical support.

Today one should stress that the Bittrex exchange isn’t a fraudster because at the moment it’s working properly, fulfilling its obligations to traders. As a matter of fact, payments are made to users on time, their technical support, the web resource of bittrex com as well as payment systems are always at hand, and there aren’t any mass messages about the theft of money from accounts. So, Bittrex isn’t a scam at all because the keeps dynamically developing. It offers maximum opportunities for crypto trading and ensures reliability and safety of work.

 

Conclusion

The Bittrex crypto exchange is a new, already successful and dynamically developing platform. Today it’s very popular around the globe, attracting an increasing number of users with the expanded opportunities for comfortable trading in cryptocurrencies (2018 cryptocurrency forecast). An impressive choice of digital coins for trading also serves as a serious factor that increases interest in the stock exchange.

One of the greatest advantages of Bittrex is that the site hasn’t been subjected to hacker attacks yet. Despite there are a lot of positive reviews about the company on the Internet, but there are also enough negative points. Let’s hope that the stock exchange is willing to proceed with its dynamic development and its services will be improved. We won’t regard the Bittrex exchange as a scam. By the way, user feedback, we’re waiting for this article, can warn traders of possible issues and even change the exchange’s rating on our web portal.

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