Bittrex is a U.S.-based crypto exchange and this brief Bittrex review is one of the best ways potential users can get a good idea of what the platform has to offer.
Doing a thorough research before you opt for an exchange is crucial as it can help you choose a platform that suits your needs and minimizes the safety risks posed by the crypto space.
This is an advanced crypto exchange that offers numerous outstanding features to the users and aims to make crypto investing and trading less stressful and hassle-free for the interested parties.
It was established as a crypto-to-crypto exchange but has developed more, making it one of the topmost options for crypto investors and traders around the world.
If you are also interested in using this platform then you need to know about the various features it offers to the crypto investors and traders who use the platform.
Bittrex Review – What is Bittrex
The Bittrex exchange was established in 2014 in Seattle, USA. However, it is now operational from Bermuda and Lichtenstein.
It is a highly advanced cryptocurrency exchange that allows the users to purchase, sell and trade digital assets in an easy and convenient way. This exchanges takes the security of the users very seriously. With team members who have expertise in computer securities, Bittrex aims to make it a safe and secure platform for every interested party.
It has more than 500,000 active users from all across the globe, however, there are a few countries this platform does not extend its services to.
To know whether this exchange is suitable for you or not, you need to know the details mentioned below.
Advanced Trading Platform
Bittrex is a powerful and advanced trading platform that aims to make crypto trading easier for every type of trader. Crypto trading is a complex venture that also comes with a lot of risk, especially if the traders are unaware of some helpful information or don’t have prior experience. This is where the exchange stands out.
This Bittrex review specifies that the trading platform and matching engine of the exchange is outstanding and contributes a lot to the kind of trading experience people have while using the platform.
The user-interface of the exchange was updated a few years ago to make it more accessible and easily useable for the novice parties.
The trading matching engine of the exchange is custom-built and is quite powerful. It takes only nanoseconds to execute the trades and at the same time it also matches market takers and makers.
Access to Fiat Markets
As mentioned above in this brief Bittrex review, the exchange initially began as crypto-to-crypto platform. However, with time as it grew it also introduced 2 fiat markets for the users. This has made the exchange more accessible and attracts more people.
As a user of the exchange you can deposit the following 2 fiat currencies on the platform.
- U.S. Dollar
Security Protocols of the Exchange
In terms of safety offered, Bittrex is one of the safest crypto exchanges in the market. Since the team members are experts in computer securities they make sure that the safety and security of every user remains intact and safe from any kind of cyber threat.
This is why, the crypto exchange uses some of the best and highly advanced security protocols to offer enhanced security to all users.
Some of the security systems mentioned in this Bittrex review are:
- Elastic multi-stage wallet strategy
- Full Secured Socket Layer (SSL) encryption
- Two-factor authentication (2FA) for withdrawal
Trading Fee Details
Whether you choose an exchange to buy crypto assets or trade it, it is important that you always take a look at the fee charged by the exchange. This is one of the topmost features that can help you determine whether it is a suitable and good exchange for you to choose or not.
Therefore, you should also know about Bittrex fees before you opt for this exchange.
The trading fee charged by the exchange varies from one trader to another and depends on the 30-day trading volume of the traders. The fee is, however, based on the market maker and taker fee model.
This Bittrex review specifies the fee charged by the platform to help novice in determining if it is according to their trading requirements or not.
- Market makers are required to pay a trading fee that ranges from 0.00% to 0.75%
- Market takers are required to pay a trading fee that ranges from 0.05% to 0.75%
A Bittrex review can help the new people stepping into crypto space in determining if this is a suitable exchange for them or not. There are several features it offers that are important for every potential user to know about.