Bittrex is a US based exchange founded in 2013 and headquartered in Seattle Washington. The company was founded by Bill Shihara, Richie Lai and Rami Kawach, all three previously worked at Microsoft.
Bittrex claims to put an emphasis on security by employing the most reliable and effective technologies available. The founding team, which comprises computer security experts with over 40 years of combined experience, prioritizes security in all its development decisions.
Bittrex has in place an elastic, multistage wallet strategy that always keeps 80%-90% of funds safely offline.
Meanwhile, on the customer side, two-factor authentication is a must for all withdrawals and API calls; if it’s not activated, a limit on withdrawals is enforced for customers without 2FA set up.
Bittrex has achieved the rare feat of never having suffered any breaches or having lost any customer funds.
Bittrex has one main service it provides which is its trading platform. The platform lists a wide variety of currencies and allows for standard spot trading orders to be executed.
The current trading engine seamlessly glues together automated trading features, such as stop loss, good ’til canceled (GTC), and instant buy or sell, with all the standard technical charting tools a trader needs.
Clients continually commend the exchange’s trading interface for its quick loading times, with no incidences of hanging or lags. There is no option for margin trading on Bittrex.
Identity verified customers (personal or corporate) operating outside the United States or in one of the following US states/territories are eligible for US Dollar trading, deposits, and withdrawals:
Alabama , Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana ,Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Missouri, Mississippi, Michigan, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Texas, Utah, Washington State, Washington, D.C., Wisconsin, West Virginia.
USD deposits and withdrawal are done through wire only. Accounts that aren’t eligible for USD trading can still use stablecoins like USDT (Tether). Over 400 altcoins are available for trading against Bitcoin, Ethereum, USD and USDT.
Bittrex makes an effort to add up-and-coming altcoins after carefully vetting their source codes and delisting inactive coins. While some pump-and-dump coins have managed to slip past the vetting process, Bittrex’s goal is to raise the quality of the overall coin listings.
CoinsBittrex carefully reviews all coins from impending hard forks or airdrops before providing full support and debiting customers’ accounts. Often, as soon as the networks are stable enough, several coins birthed from hard forks are made available to trade.
A 0.25% flat commission is applied to all trades.
Trading fees are slightly higher on Bittrex compared to the industry average. Additionally, there are neither rebates for higher-volume trades nor incentive models for takers and makers.
Bittrex is opened to customers worldwide except for North Korea, Iran, the Crimean region, Syria, and Cuba as well any person with economic sanctions levied against them specifically by the US federal government.
Bittrex is not regulated under US securities laws.
No. Bittrex is not FDIC insured.
Although Bittrex can be considered an excellent exchange for beginners and traders looking for a robust, secure platform on which to trade multiple cryptocurrencies, its lack of customer support and freezing of accounts make it a questionable choice.