Bittrex is a popular cryptocurrency exchange with headquarters in the US and was launched in 2014 by experts with over 50 years of combined experience. In this article we present the latest Bittrex review. Users on the platform have the choice of trading in a wide array of the leading and rare cryptocurrencies in the world. The platform is available 24 hours via website and smartphone app.
Table of Contents
Trading Options
The online exchange platform is easy to use, and it owes its popularity to being beginner friendly. Bittrex has three account options; Unverified, Basic, and Enhanced. Traders have more trading freedom on the Bittrex platform, when they achieve the highest level of verification.
The platform had done away with wire transfers in the first quarter of 2017, but they have since returned the service and traders can deposit funds into their wallet or trading account straight from their bank accounts. There are several areas that Bittrex does not offer its exchange services including certain states in the US.
Deposits, Transaction Fees, and withdrawals
All deposit and withdrawal transactions on Bittrex are done bank wire transfer and cryptocurrencies. It will take less than an hour for the funds to reflect in your Bittrex wallet after which you can start trading. All deposits to the Bittrex wallet are free.
You can also make deposits to your Bittrex wallet using Bitcoin, Bitcoin Cash, Litecoin, Dash, Ripple, and Ethereum, to name a few of the accepted cryptocurrencies. Bittrex charges a 0.25% maker/taker fee. However, each coin network has a transfer fee already computed into the trade. Withdrawal fees are dependent on the cryptocurrency you are trading. You can always request for hard copies at a fee $10, and $1 per page for shipping within the US.
Transfer Limits
The amount of digital assets you can withdraw depends on the level of your account verification. The basics of getting a verified account include uploading a government issued ID or passport, verifying your phone number, among other items. For unverified accounts, users 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.
Security
Always verify your phone number, choose a strong password, and enable 2-step verification to safeguard your account. Users also need a four-digit PIN, which must be kept a secret. Bittrex uses a multi-sig cold wallet to store between 80% and 90% of the clients’ funds. However, to achieve high verification standards and reach the Enhanced account status, you will have to provide a lot of personal data, and you can read their Privacy Policy before you give away all that information.
Conclusion
Bittrex despite its challenges, is considered to be among the top three cryptocurrency exchanges in the world. They offer 24/7 customer support via their website, Zendesk, support tickets, and email queries get a response within 12 hours. However, you can log in to your Bittrex Support account and review your customer support tickets. You can also get your questions on Twitter, Facebook, at a much faster rate. Was this Bittrex review helpful, if so, register and start trading right away.
