Bittrex Exchange Review

Bittrex Review

Bittrex is one of the older crypto to crypto exchanges and is based in the Seattle, United States. Bittrex’s largest competitor is Binance (review). They both feature a large variety of cryptocurrency and trading pairs.

Bittrex grew so fast in 2017 that it shut down it signup’s for months. Currently, Bittrex is slowly allowing new users to join there exchange through a waitlist. If you want to trade now, and the coin you want is on Binance, try making an account there.

Bittrex Fee Structure

Bittrex charges .25% commision on all transactions. This is on the higher end compared to most other exchanges. Binance charges .05%, Kucoin charges .1% and Cryptopia charges .2%.

Bittrex Withdrawl and Deposit Fees

Bittrex charges reasonable withdrawal fees, but the fees are certainly higher than a normal transaction would be. Currently, Bittrex has the following withdrawal fees:

  • .0005 Bitcoin (BTC)
  • .006 Ethereum (ETH)
  • 1 Ripple (XRP)
  • .001 Stellar Lumens (XLM)
  • .01 Litecoin (LTC)

Withdrawl fees are annoying, but Bittrex is a business and has to profit somehow. If you are trying to move funds from exchange to exchange, consider converting all currency to XLM before sending.

Bittrex Trading Pairs

Bittrex has a large selection (almost 200) of cryptocurrencies and altcoins. There are 3 main trading pairs used on Bittrex. They have Bitcoin (BTC) markets, Ethereum (ETH) markets, and Tether (USDT) markets.

Bittrex Trading Volume

At the time of this writing, Bittrex has around 27 thousand BTC in total daily trading volume. This is definitely lower than it was in December/January as cryptocurrency markets have been cooling down.

Bittrex on Airdrops and Hardforks

Bittrex has supported several airdrops in the past (Zclassic/Bitcoin Private and NXT/IGNIS) and hard forks (Bitcoin Gold and Bitcoin Cash). On the other hand, they have also not supported others such as (Monero/Monero Classic and Ethereum Classic Callisto). Bittrex claims the reason why these forks were not supported are due to the dev teams not contacting them early enough.

Bittrex CEO and Team

Bittrex CEO Shihara

Bittrex is lead by CEO Bill Shihara and Richie Lai. Bittrex works closely with the U.S. government to ensure they are following all rules and regulations.

Bittrex Customer Support

Bittrex’s customer support is decent compared to its competitors. They aren’t always the fastest to respond but allow their users to contact them through Twitter, Slack, Reddit, and Email.

Bittrex’s Security

Bittrex’s security is very strong, considering there haven’t been any major hacks or outages. Bittrex allows its users to set up 2-factor authentication to add an extra level of security to their accounts.

Bittrex API

Bittrex allows its users to access a simple and powerful API (Application Programming Interface) that allows them to programmatically perform almost all actions available in web interface. Trading bots and other tools can be used to interact with Bittrex and its data.Bittrex API Review

Conclusions

Bittrex is easily one of the best altcoin exchanges. They recently updated their entire site making it look great and run better. They add several cryptocurrencies a month allowing new coins to be featured on their exchange.