Looking for an expert Bittrex review to help you determine if its a worthy exchange platform? Bittrex is one of the few popular cryptocurrency exchanges with headquarters in the US. It is regarded as one of the top three cryptocurrency exchanges based on trading volume. In this article, we present the latest Bittrex exchange review. By the time of writing, Bittrex records a daily trading volume of approximately $300 million. The platform is available 24 hours via website and smartphone app.
Bittrex Review – Everything you Need To Know About It
Bittrex stands out from other cryptocurrency exchanges for having outstanding features. They include
Custom Build Trading Engine
Speed is of crucial importance in crypto trading, and Bittrex uses elastic computing. This makes the platform scalable, and orders are executed instantaneously. This eliminates crossed order books and trading delays.
The level of account verification will determine the type of account you will hold. To verify your account, ensure to upload a government-issued ID or passport, verifying your phone number, among other requirements. Users with unverified accounts can only withdraw 1 BTC per day. The Basic account allows for 3 BTC withdrawals daily, and the Enhanced account holders can withdraw up to 100 BTC.
The web-based Bittrex platform is easy to use, and it owes its popularity to being friendly for beginners, while giving professionals a wide range of trading options. Bittrex offers three account options; Unverified, Basic, and Enhanced.
In early 2017, Bittrex had suspended wire transfers, but they have since returned the service and traders can deposit funds into their wallet or trading account straight from their bank. Despite being a US-based crypto exchange, some US states do not get the Bittrex service.
Deposits, Transaction Fees, and Withdrawals
Deposits and withdrawals on Bittrex are done via bank wire transfer or cryptocurrencies. It will take less than an hour for the funds to reflect in your Bittrex wallet after which you can start trading. Deposits to the Bittrex wallet come at no charge.
You can also make deposits to your Bittrex wallet using Bitcoin, Ethereum, Bitcoin Cash, Dash, Litecoin, and Ripple, to name a few of the accepted cryptocurrencies.
Bittrex charges a 0.25% maker/taker fee. With that said, each coin network has a transfer fee already computed into the trade. Withdrawal fees are dependent on the cryptocurrency, and you can always request for a hard copy of the fee breakdown at a cost of $10, and $1 per page for shipping within the US.
Is It Safe?
Since inception, Bittrex has maintained a clean bill of health without any security breaches announced thus far. Bittrex uses a multi-sig cold wallet to store between 80% and 90% of the clients’ funds. The platform also supports 2-factor verification for user account security. Users also need a four-digit PIN for withdrawals.
As noted by other unbiased Bittrex review posted online, this is among the top three cryptocurrency exchanges in the world. They offer 24/7 customer support via their website, Zendesk, support tickets, and email. However, you can also log in to your Bittrex Support account to review your customer support tickets. Create your account today and start trading right away. Get more insights about cryptocurrency exchanges here.