Bittrex Review: Is It Safe To Use In 2023? Updated

Bittrex was founded in 2014 by engineers Bill Shihara, Richie Lai, and Rami Kawach, and is headquartered in Seattle. This exchange initially offered only crypto-to-crypto trading, but it recently introduced fiat-to-crypto trading as well. However, it’s worth noting that its fiat trading program is relatively new, so trading pairs are limited and fiat trading isn’t available everywhere.

There might be other Bittrex reviews out there, but you’ll only need this one. This Bittrex review will not only tell you what Bittrex is, but it will also tell you how to use it. It goes against our guidelines to offer incentives for reviews.

  • Trade bitcoin, litecoin, XRP, and other top and lesser-known coins for big-time gains.
  • It is also cheaper to trade on Coinbase, with maker/taker fees starting at 0.5% and below, which is way less compared to Bittrex fees of 0.75% and below.
  • Accounts that aren’t eligible for USD trading can still use stablecoins like USDT .
  • So, all crypto traders should use news trading properly to make quick profits.
  • VALR is one of the biggest cryptocurrency exchanges in Africa.

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Moreover, the exchange needs to add more fiat options to the market as it is a popular trading option. Bittrex does not offer many fiat trading options at the moment. Similarly, the exchange should work on extending the platform wider to make a potentially global platform by making efforts to add those countries that are missing at the moment. It should also work on creating more crypto awareness on social media channels. After creating your account, you can click on the Market where many crypto coins are listed.

Nowadays, you’ll have to go through the full KYC process to use what Bittrex has to offer. The functionality on this thing is great, it’s got all the bells and whistles an experienced trader will need, while at the same time being simple enough for a novice to operate. According to, Bittrex’s trading volume over the last 24 hours was $144.799M. And since the beginning of the year, their trading volume has been $20.095B. They offer IP whitelisting, to ensure that only selected IPs can access your account. This one makes sure only approved wallets can interact with your account.

How to Use Bittrex?

Users will also appreciate its robust security features and the option to place advanced orders. In terms of cons, Bittrex currently has a lengthy verification process. Customers usually want to get things quickly to start managing their funds.

This list constantly changes, the exchange delists and enlists coins every month. At the time of writing, they support almost 700 projects. The standard trading fee for Bittrex is 0.35%, which is on the high side of the spectrum compared to other major bittrex review exchanges. Their accusers suspect that Bittrex needs liquidity and freezing crypto assets is a measure taken to improve that. Apparently, Bittrex’s made a habit of disconnecting and disabling certain accounts and freezing their funds in the process.

Bittrex vs Kraken

The crypto exchange offers relatively low maker fees and taker fees compared to other large crypto platforms. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.

bittrex review

If your trade order is filled immediately by an existing order on the order book, you’re charged the taker fee, as you’re taking liquidity from the market. If it isn’t filled immediately by an existing order, then you’re charged the maker fee, as you’re adding liquidity to the market. Unless your referrals are some serious crypto whales, this won’t exactly be a lot on most trades, since Bittrex’s highest trade fee is 0.35%.

Other than this, Bittrex operates under the Digital Asset Business Act framework in Bermuda. I like the writing style in this Bittrex review, not trying to suggar coat anything. The platform is great, especially of beginners, but it’s not flawless. Purchase top-rated Ledger products and get it shipped to you completely for FREE, wherever you are!

How to Predict Crypto Prices – Platform Has the Answer

Due to the amount of altcoins offered by Bittrex, it is often compared to Binance as an alternative. However, the strict verification process and relatively high fees (0.25% vs. 0.1% on Binance) quickly point out that Binance is a more appealing option. Public opinion on the speed of response to support tickets is dismal when it comes to verification, customer service issues and follow-ups on accounts that are under review. Bittrex has slightly higher maker fees and taker fees than Kraken. Moreover, Bittrex supports more than 330 cryptocurrencies.

Bittrex is a US-based crypto exchange, which was in the process of winding down its operations due to the tough crypto regulatory environment in the US. The below tables provide a quick overview of the different types of fees and the Fee schedule based on the account’s 30-Day Trade Volume for maker & taker. When people read a Bittrex exchange review and they see that it has a few issues they ask themselves, is Bittrex safe? To answer that question, this Bittrex review will look at Bittrex’s security a bit more closely.

bittrex review

Unfortunately, these concerns are common across many cryptocurrency exchanges and aren’t unique to Bittrex. Bittrex has several security features designed to help protect users’ funds and suggests some account security best practices. The platform keeps the majority of user funds in cold storage. It also employs measures like two-factor authentication, and wallet and IP address whitelisting.

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When it comes to cryptocurrency support, both have a very large number of cryptocurrencies, with more than 300 each. For instance, Bittrex is much more supported in the US than Binance. Binance users in the US are highly limited, even with Binance.US.

The location of the company is another critical factor that makes it an excellent option to choose. In Liechtenstein, a regulatory framework has been considered for the development and advancement of blockchain technologies. This exchange is working closely with the token teams to play a crucial role in developing blockchain at the global level. Bittrex Global does not accept US customers at the moment due to some regulatory issues and sanctions.

The coins are typically listed on the Market based on their market capitalization. For example, Bitcoin has a market cap of close to 1 trillion USD, so it is usually listed on top. Ethereum comes in second place on almost every cryptocurrency exchange. Listing cryptocurrencies based on market capitalization helps traders know which crypto is performing well on the market. Apart from it, you get a search option where you can quickly type the name of the cryptocurrency to view its chart and trading options. Moreover, whenever there is a huge increase in trading volumes, especially during bullish trends, Bittrex finds it hard to welcome new users.

Binance also has some of the lowest fees, starting at 0.1% and below, which is minuscule compared to Bittrex’s fees of 0.75% and below. Bittrex has slightly higher maker/taker fees than Kraken. Fees range from 0.00% to 0.35% on Bittrex and 0.00% to 0.26% on Kraken. But given Bittrex’s lack of phone support, account management will likely be mostly self-service. Bank card deposits are much faster, but it will cost you an extra 3% on top of the deposit amount per transaction.

Trade bitcoin, litecoin, XRP, and other top and lesser-known coins for big-time gains. Newbies may appreciate just how easy it can be to buy crypto on Bittrex, thanks in large part to its Instant Buy and Sell feature. Through Instant Buy and Sell, investors can purchase many leading cryptos using a linked bank account, money already held in their account or a debit card. Once your account is opened and verified, you need to fund your Bittrex account. The easiest way to fund your account is by transferring them from another wallet. There, you click the coin you want to deposit, press “+”, and then press “Deposit”.