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With more than 360 cryptocurrencies to invest in and an APY of up to 5.5%, Bittrex is one of the best crypto exchanges. It’s also worth it to use Bittrex if you have intermediate skills in crypto trading as you can use it to analyze market trends. New UI features let you control the information you want to see on charts.
Pros
- More than 360 cryptocurrency stocks
- Relatively low trading fees – 0 to 0.74%
- Available in 46 states in the U.S.
- Offers the Instant Buy/Sell option
Cons
- Not so beginner-friendly
- High withdrawal fees
Jump to: Full Review
Compare to Other Crypto Exchanges
BlockFi
Buy, sell, and trade a variety of cryptoassets at competitive prices
Up to 1.5% back in crypto on every purchase with Rewards Credit Card
Earn interest on Bitcoin or borrow money at rates as low as 4.5% APR
Coinbase
Store all of your crypto and NFTs in one place (100 cryptocurrencies)
Earn crypto rewards with Coinbase Visa debit card (up to 4% cashback)
$2 account minimum and 0.5% – 4.5% fees varies by type of transaction
How Does Bittrex Work?
Bittrex is a well-known cryptocurrency exchange platform founded in 2014. Its headquarters are located in Liechtenstein and Bermuda.
Bittrex offers a way for individuals to invest in cryptocurrency stocks. It has over 360 digital assets, including bitcoin and other altcoins to buy and sell.
Like other cryptocurrency trading platforms, you’ll need to create an account and complete account verification. After that, you can explore your Bittrex dashboard where you can trade and purchase crypto stocks.
Both the app and website have the “Instant Buy/Sell” feature making the process easier.
Through this feature, you can also buy digital currency stocks using your bank account, credit card, or funds in your Bittrex balance.
Finally, you can use the app to store bitcoin stocks and other crypto assets. You can also stake selected coins and earn up to 5.5% APY.
How Much You Can Earn with Bittrex?
It’s common knowledge that the cryptocurrency marketplace is highly volatile and is only ideal for people who can afford to lose some cash. Despite that, people making huge profits from their investments are not unheard of.
This is because many platforms, including Bittrex, offer ways for investors to make money without having to actively trade in the market. Bittrex, to be specific, can help you earn up to 5.5% APY by staking Cardano (ADA) tokens.
Bittrex Reviews: is Bittrex Legit?
Bittrex is a legitimate platform where you can buy, sell, trade, and store crypto stocks. It has a 4.7 Apple App Store rating and 4.2 Google Play Store rating.
On the other hand, some users expressed that Bittrex can do better in the verification process. There are also users who find issues with depositing their money only to find they couldn’t purchase specific coins.
Who is Bittrex Best for?
Bittrex offers a simple interface for those looking to learn about cryptocurrency trading. At the same time, it hosts in-depth features ideal for many traders with all levels of expertise.
Bittrex is also ideal for traders looking for several order types and access to real-time market views.
Bittrex Fees: How Much Does it Cost to Invest with Bittrex?
Here are some fees you can expect at Bittrex:
| Trading fees | 0 to 0.74% depending on monthly volume |
|---|---|
| Deposit fee | $0 |
| Withdrawal fee | $25 |
When it comes to trading fees, note that the higher volume you trade, the lower fees you need to pay.
Bittrex Features: What Does Bittrex Offer?
Instant Buy/Sell
Instant Buy/Sell is the main feature that makes Bittrex a game-changer. This allows you to trade cryptocurrency stocks in seconds. By choosing this option on the website or app, you’ll see a simple interface and select whether to buy or sell.
In each option, you can enter the amount of cryptocurrency and the platform will automatically generate the equivalent in fiat money. This way, you know right away how much you’ll need to pay or receive.
The Bittrex Mobile App
The Bittrex Mobile app offers a convenient way to track your crypto investments. Like on the website, you can use this to buy, sell, and trade in the marketplace.
Additionally, you can access the Instant Buy/Sell feature on the app. You can also place other types of orders on the market, such as limit orders and conditional or stop-limit orders.
Markets
Trading on Bittrex lets you access at least 500 markets. Whichever cryptocurrency stocks you have you can surely find them on Bittrex. This feature can also help you look for the next bitcoin or at least the best coin to invest in.
New UI features
The Bittrex platform has new features that can help you understand and analyze market trends. You can set your trading preferences, including viewing market charts in light or dark mode. There are also options to change the layout and currency.
Suppose you find the chart a bit loaded with data. In that case, you can set the chart preferences to only show information you can want to see. It has a toggle control where you can turn on or off details on open, closed, and drafted orders.
Bittrex Requirements
You can only use all Bittrex features once you complete your profile and verify your identity after creating an account. When completing your profile, make sure to avoid using non-English characters and symbols as these can result in a failed verification.
You’ll also need to upload a photo of your government-issued ID and undergo face verification. The verification process normally takes around 10 minutes.
Bittrex Payout Terms and Options?
Bittrex allows users to sell cryptocurrency stocks and withdraw fiat funds to their bank accounts. For this, you’ll need to add your bank account first through a fiat application or by connecting with Bittrex support.
Then, you can access the withdrawal option by logging in to Bittrex through a desktop computer. After successfully requesting a withdrawal, you’ll receive the amount within 3 to 7 days. Note that you can only withdraw a minimum of $35.
Bittrex Risks: is Bittrex Safe to Invest with?
Bittrex is a safe crypto trading platform to use. Although investing in the cryptocurrency market is known for its risks, considering Bittrex offers safeguards that can still guarantee a profitable investment.
Among these is the great selection of markets you can invest in. You can search for high-performing and promising crypto to buy and put your money in.
The security measures of Bittrex also make it a safe platform to invest in despite the risk. It uses offline cold storage for most of its crypto assets.
You can also take advantage of security features, such Two-Factor Authentication and whitelisting of wallets and IP addresses.
How Does Bittrex Protect Your Money?
By themselves, your crypto portfolio may not be insured by the FDIC, SPIC, or similar institutions. However, Bittrex ensures that its investors’ digital currency stocks are protected. It has recently acquired a policy of $300 million to cover customer assets.
What are the Bittrex Pros & Cons?
Bittrex Pros
- More than 360 cryptocurrency stocks
- Relatively low trading fees – 0 to 0.74%
- Available in 46 states in the U.S.
- Offers the Instant Buy/Sell option
Bittrex Cons
- Not so beginner-friendly
- High withdrawal fees
How Good is Bittrex Support and Knowledge Base?
When exploring a new cryptocurrency platform, it’s important to get an idea of how certain features work and processes proceed. After all, this platform is for making money and increasing your assets, not losing them.
Fortunately, Bittrex offers a decent support and knowledge base section where you can find how-to articles. This section also includes a chatbot to guide you in looking for the right articles to address any issues.
In case you need to talk to an actual support agent, you can create a ticket and they will reply to you via email. You can also reach out to them through their official Telegram channel. They also have an active Twitter account with nearly 1 million followers.
Bittrex Review Verdict: is Bittrex Worth it?
With more than 360 cryptocurrencies to invest in and an APY of up to 5.5%, Bittrex is one of the best crypto exchanges.
It’s also worth it to use Bittrex if you have intermediate skills in crypto trading as you can use it to analyze market trends. New UI features let you control the information you want to see on charts.
If you’re looking to quickly buy or sell crypto assets, the Instant Buy/Sell feature is perfect for you. It literally takes seconds for you to complete your transaction.
Bittrex also has one of the lowest trading fees among crypto platforms these days. However, the withdrawal fees to bank accounts need to be reconsidered.
How to Sign Up with Bittrex?
Here are the steps to sign up with Bittrex:
- Go to the Bittrex website and click on Sign Up.
- Select the account type you want to create.
- Enter the email address you regularly use.
- Create a password with at least 12 characters. Make sure it has uppercase and lowercase letters and numbers.
- Go to your email inbox and click the verification link from Bittrex.
- Confirm agreement on Terms of Service and Privacy Policy.
Sites Like Bittrex
| Sites Like Bittrex | Service Fees | Minimum Deposit | Best for |
|---|---|---|---|
| Bittrex | 0 to 0.74% | 50 | Average traders |
| Coinbase | 0.5% to 4.5% | 50 | Crypto traders |
| Binance | Up to 0.5% | $50 | Crypto traders |
| BlockFi | About 1% | $51 | Intermediate/advanced crypto trader |
Bittrex vs. Coinbase
Coinbase Summary
- Over 4500 cryptocurrencies to choose from
- Low minimum deposit amount of just $2
- Get $10 when you sign up for an account
- Get a $10 bonus for each friend you refer
Sites like Coinbase and Bittrex provide excellent tools for traders. Both require users to have at least some fundamental knowledge of cryptocurrencies and digital currency stocks.
But compared to Coinbase, Bittrex is less complex to use for total beginners and it has lower trading fees.
Bittrex vs. Binance
Binance Summary
- Low fees
- Offers stocks, futures, and options
- Powerful tools to learn active trading
- Eide range of products for passive income
Binance is one of the best alternatives to Bittrex. It’s a cryptocurrency exchange platform and a wallet where you can store your coins. Additionally, Binance has the option to sell your crypto assets for fiat currency.
However, Binance offers a wide selection of products besides its exchange platform. For crypto beginners, its features and services can be overwhelming.
Bittrex vs. BlockFi
BlockFi Summary
- Get a $10 bonus for every referral
- Get up to 3.5% cashback on card purchases
- Borrow money from as low as 4.5% APR
- Earn up to 9.5% APY on your deposits
BlockFi is similar to Bittrex as both offer quick crypto-to-crypto exchanges and you can instantly buy cryptocurrency stocks with cash.
However, Bittrex is preferable as it offers more crypto assets than BlockFi’s less than 20 cryptocurrencies.
Other Sites like Bittrex
Bittrex FAQ
What is Bittrex?
Over 500,000 thousand users around the world are registered to Bittrex. It has also one of the largest volumes of cryptocurrency in the market, equivalent to around $47 million.
Is Bittrex legal in the United States?
Yes, Bittrex operates legally in the United States.
Is Bittrex free?
Yes, you can use Bittrex for free. However, some transactions incur charges, such as USD withdrawals and trading crypto coins.
Who owns Bittrex?
Bittrex is owned by Bill Shihara.
Can I withdraw from Bittrex to my bank account?
Yes, you can withdraw funds from your Bittrex to your bank account.
Can I buy Dogecoin on Bittrex?
Yes, you can buy Dogecoin on Bittrex.
