Bittrex Exchange – Latest Review & updates
Bittrex exchange is an exchange that deals with cryptocurrencies. It was established in 2014 and it is based in Seatle, USA.
The exchange is among the top cryptocurrencies exchange globally alongside Coinbase and Binance exchange. Its daily trading volume is estimated at USD 300 million. Also, the integrity of the Bittrex exchange as a top-level secure platform for crypto exchange and trading is traceable to the technical expertise of its founders.
The Founding Team
Bittrex exchange was co-founded by Bill Shihara [former manager: Security Threat Analysis at Blackberry Ltd.], he is currently the Chief executive officer. Other co-founders include Richie Lai [Security Engineer and Chief information officer], Rami Kawach [Chief Technology Officer].
It may interest you to note that the three co-founders are security engineers and have served reputably in high profile companies like Amazon, Microsoft, and Blackberry. Therefore, it is not surprising that the Bittrex exchange platform is rated high among other crypto exchange platforms in terms of its security.
Bittrex Exchange Trading
As a cryptocurrency exchange platform, one of the main services it renders to its clientele is a platform to trade. In this trading platform, Bittrex allows a wide variety of currencies for trading. Also, the Bittrex exchange trading platform is built around a concept termed ‘elastic computing’ which makes trading orders to be executed instantaneously.
Furthermore, the current new trading engine introduced by Bittrex has added more value to the trading platform. This new trading engine combines unique trading features like the Good-til-canceled [GTC], Instant buy and sell, and the stop-loss features. Also, with the new trading engine, the rate at which transactions are executed has become very much faster.
Another unique operational feature of Bittrex is the Bittrex online wallet. Unlike several other e-wallets in the sphere, Bittrex online wallet supports various ranges of altcoins.
Bittrex Exchange Trading Fees
Bittrex does not place variable trading fees on its trading platform. It charges commission at a flat rate of 0.25% for all transactions. It is worthy to note that Bittrex does not charge any fees for deposits. However, there is a withdrawal fee of about 0.0005BTC.
In addition, the minimum trade size on Bittrex is 50,000 satoshis. While on the other hand, there is no maximum trade size. This implies that users can trade to any limit that they may be able to provide the funds for.
How to Register with the Bittrex Exchange Trading Platform
To Signup with Bittrex, all you need to do is to provide an email and a secure password.
Next, a mail will be sent to the email address you provided and in the mail is contained a verification link that you will use and continue to have your email verified.
One thing that is very necessary to do upon signing up is to enable the two-factor authentication. You can do this by using the Google authentication app.
Subsequently, Bittrex will require that you verify your Identity. This is a simple process. It is as follows
- Click on ‘Settings’ from the menu bar
- Then on the next page, select ‘My Profile’ and proceed to fill in your details in the field provided.
- Next, click on the tab labeled ‘Identity Verification’ and then on ‘Start verification’
How to deposit coins into your Bittrex online wallet
In order to deposit coins/cryptocurrency into your Bittrex wallet, click on ‘wallets’ located by the top right corner on-site homepage.
Next, search for the wallet you want to deposit coin/cryptocurrency into and select ‘New Address.’ A new address will be generated for you, use the address to make the deposit.
Trading Transfer Limits
There are various transfer limits placed by Bittrex to help regulate how much anyone can withdraw to their crypto wallets, also, these limits are placed to help check for spam. The withdrawal limits are as follows
- For the Unverified accounts, the withdrawal limit is 1BTC/day
- For the Basic account, the withdrawal limit is 3BTC/day with 2-factor authentication enabled.
- For the Enhanced Verified account, the withdrawal limit is 100BTC/day with a photo Id verification.
The Pros and Cons
On the pros
- The platform is highly secured
- No deposit fee attached
- Supports a wide range of altcoins
- It is easy to use with automated features
- It has a flat rate commission fee of 0.25% on all trades
On the Cons
- Customer support is relatively poor
- The verification process is relatively long
- It does not support a bank wire transfer except for the Enhanced Verified account.
In conclusion, Bittrex exchange as a cryptocurrency exchange platform is rated among the top 3 cryptocurrency exchange platforms. And one unique thing about Bittrex is that it places a high standard for the security of its users, which tends to draw people to it. However, it may not carter to the needs of all its users, but it is one of the best cryptocurrencies that guarantees your safety with your funds. Go for Bittrex today!
For more information, Visit Bittrex Support @ https://bittrex.zendesk.com/hc/en-us