Bittrex Review 2022 – Is it Safe or Legit?

Bittrex has emerged for a long time as one of the most favored crypto exchange platforms allowing users to trade crypto without hassles. In this Bittrex review article, we’d try to go through all of the features of the platform and let you decide for yourself if it is the best crypto exchange for you.

Exchange platform Bittrex 
Supported crypto assetsBTC, ETH, LTC, BCH, DOGE, XRP, and more.
Fiat paymentsYes 
Supported payment methodsWire transfer, credit/ debit card
Deposit feeNone 
Trading fee0.25%
Mobile applicationAndriod, iOS
TP/SLYes 

Summary (TL;DR)

  • Bittrex was initially found in 2014 in the United States.
  • Further, it supports fiat currencies and transactions only for enhanced accounts.
  • Bittrex has three kinds of accounts, i.e. unverified accounts, primary accounts, and enhanced accounts.
  • For unverified accounts and primary accounts, the maximum limit of daily withdrawal is 4 BTC.
  • Whereas, for enhanced accounts, the daily withdrawal limit is 100 BTC.
  • Bittrex charges a 0.25% trading fee on all transactions.
  • Bittrex also provides its users with the facility to verify their identity via documentary proof.

What is Bittrex?

Bittrex was initially situated in Seattle, United States, providing its customers with a safe and protected environment. This digital currency exchanger allows traders to trade over 730 different types of cryptocurrencies. Richie Lei, Bill Shihara, Ryan Hentz, and Rami Kawach are the founders of the Bittrex exchange launched in 2014. These owners have considerable experience of safeguarding in companies such as Microsoft, Amazon, and Blackberry. 

Due to the provenance of Bittrex in the crypto market, this international cryptocurrency exchange processes approximately hundreds of millions of dollars in daily trading volume. As a result, Bittrex is ranked among the top 10 exchange platforms globally (at the time of writing), considering the number of available markets. Further in 2019, this crypto trading site stretched its horizons through its Partnership Program and eventually launched Bittrex Global. Bittrex Global was initially meant for international clients. Apart from this, Bittrex Global provides various traits such as trading fees, spot and limit trading, and liquidity pool.

What is Bittrex?
What is Bittrex?

Also, read: Poloniex vs Bittrex | Which is the Best Crypto Exchange?

Bittrex Review: Products

Number of Available Markets

Bittrex supports over 500 crypto assets, including Bitcoin, Ether, EOS, Dogecoin, Tezos, Tron, and much more. Easy trading and lots of supported cryptocurrencies allow traders to prefer Bittrex over other trading platforms. For example, you can easily purchase bitcoin on Bittrex without any hassle. Not only does it allow users to trade crypto assets, but it also allows them to trade both altcoins. Apart from that, Bittrex has successfully launched 3x leveraged tokens to keep up with platforms like FTX.

Bittrex Review: Elastic Computing

Bittrex trading platform considers the concept of ‘elastic computing ’. Bittrex exchange mainly operates around this concept due to various reasons. Elastic computing is nothing but an abstraction that lets clients leverage their computer holdings according to their practical requirements and preferences. Considering this system helps the Bittrex crypto exchange platform provide condescending trade implementation speeds that get rendered almost immediately. 

EUR and USD deposits and withdrawals

One more prime feature of the Bittrex cryptocurrency exchange is letting users deposit or withdraw the fiat currency through their banks. Apart from that, it allows traders to trade with the help of EUR or USD as well. Moreover, transactions made through credit cards to debit cards are instantly and cost a minimal fee of approximately 3% per transaction. 

Bittrex Products
Bittrex Products

Bittrex Trading Fees

Bittrex is classified into three categories, including New/ Unverified accounts, Basic accounts, and Enhanced accounts. New or unverified accounts cannot process any BTC withdrawals or deposits, whereas, with essential bills, you can withdraw an amount up to a maximum of 4 BTC per day. For the enhanced accounts, the daily withdrawal limit is 100 BTC, along with 2-factor authentication. Also, Bittrex prices are not much and are pretty minimal.

In terms of fees, Bittrex inflicts a flat rate commission of 0.25% on all trades. Comparatively, the price is higher than the industry average. Nevertheless, traders should note that Bittrex doesn’t charge any fee on deposits and withdrawals. In a way, this helps to balance out the relatively higher trade fee imposed by the Bittrex exchange.

Bittrex Trading Fees