We can present Bittrex as a kind of institution on the crypto-currency market since it is one of the most well known exchanges in the industry. Operating since 2014, this American platform is based in Seattle. Despite the fact that Binance has been stealing the show for a few months, Bittrex still has more than one trick in its bag since it is still trading for the equivalent of half a billion dollars worth of crypto currencies daily.
On this exchange, it is impossible to buy crypto-currencies via fiat currencies (= state currencies), only transactions in crypto-currencies are accepted. To buy Bitcoin, Ethereum or Litecoin via CB or bank transfer, you can always use Coinbase (see associated article), then transfer your funds to Bittrex to be able to exchange them for other cryptos from the extensive catalogue. There is something for everyone here! Nearly 300 are available with a single click (with Bitcoin or Ether as a pair, sometimes Litecoin). In addition, some currencies are almost exclusively on this exchange (for example ZenCash, an anonymous currency on the rise).
The recent craze for crypto-currencies has somewhat damaged the platform. Indeed, it was obliged to limit the number of new registrations in order to always be able to offer a quality service to its customers. It seems that registrations are now being reopened, but in a piecemeal fashion.
Bittrex in Brief
Bittrex is one of the top trading platforms for cryptocurrency. It is easy to use and easy to handle, allowing all Internet users to trade with complete peace of mind. Come and try the experience with Bittrex to become a pro of cryptocurrency and get huge benefits!
- 1 Bittrex reviews: Withdrawals, Deposits, Fees, Commissions, All About Bittrex Trading?
- 2 Bittrex review: What customers think
- 3 What about the Bittrex Application on Smartphone?
- 4 Conclusion
Bittrex reviews: Withdrawals, Deposits, Fees, Commissions, All About Bittrex Trading?
BITTREX: HOW DOES IT WORK?
Step 1: Registration
To register, first visit the Bittrex website
Click on “Sign Up“, then fill in the required fields.
Confirm your email and that’s it!
Step 2: Securing
Once your email has been validated, you will be able to log in.
Be careful to pay attention to the URL of the website before connecting: pishing attempts are more and more frequent.
Some users have had their username and password stolen from them. All this is independent of the security of Bittrex, one of the best there is, but don’t forget to enable dual authentication (2FA).
The principle is simple, but effective: to be able to access your account you will need your password but also a unique and temporary code generated by an application on your smartphone. You are thus doubly protected.
Step 3: How to fund your account
As mentioned in the introduction, Bittrex is a platform that allows you to exchange cryptocurrencies only.
To deposit funds on the site, navigate to the “Wallet” tab, then to the little next to the chosen currency.
Choose the currency you want to credit.
Generate an address and on it, you can send your funds.
Attention: Always check the sending and receiving addresses! In the event of an error, the funds will be lost.
If you want to withdraw funds and send them to another address, click on the small” -” next to the crypto. Then, enter the recipient address and validate.
BITTREX: HOW MUCH DOES IT COST?
Registration to the platform is, of course, free of charge.
Then, the fee for each transaction is 0.25%. This may not seem like much, but many exchanges now offer a commission fee of 0.1%, which puts Bittrex in the high range of fees.
BITTREX: HOW IS IT USED?
As with all trading platforms, you will find on the main page of each currency the necessary information:
- The real-time price of the selected crypto. Above, the ETH / BTC pair: you can change the time range or add financial indicators.
- The order book (purchase on the left and sale on the right):
- The tab to buy or sell: beware of comma errors
Bittrex review: What customers think
Reviews on Bittrex are mixed.
First of all, the choice is very wide because the platform has been in the landscape for a few years. Everyone can find something for themselves, use the platform simply and safely.
On the other hand, new currencies take a long time to arrive on the exchange. In recent months, there have not been many innovations… Moreover, we can note some legitimate omissions and questions: Why propose NEOs but not GAS dividends (they are not distributed and kept by the platform)? At the same time, why not add GASs for trading? Other platforms already offer this service, sometimes even a pair in NEO (Kucoin).
What about the Bittrex Application on Smartphone?
Bittrex does not currently have a dedicated application.
Anyway, a trading application can be useful today to follow the prices but to go further, it is recommended to use another support than a smartphone (there is more risk of making mistakes on a small screen).
Bittrex clearly has its place among the mastodons of the market.
However, be careful not to rest on your laurels! It would be good to continue adding new crypto-currencies: a multitude of small exchanges are taking more and more market share (Kucoin and Coss.io, for example, to name but a few)