Bittrex Review 2021: Details, Pricing & Features Coin Insider

To participate in fiat trading on Bittrex,  your identity must be verified. However, Bittrex states on its website that it has complied with and meets all the important regulations regarding anti-money laundering. The KYC process backs this up, as you are required to complete the strict documentation before you can begin trading.

How we make money

The only fees that you are likely to encounter are the fees that your bank or intermediary banks are likely to charge for routing the funds. This model will incentivise those traders who add liquidity to the order books with limit orders. We can only assume that Bittrex does not need this excess liquidity. However, you will not get any fee benefits if you place large trades that are making liquidity for the exchange. When it comes to fees, Bittrex has chosen to go with a flat rate fee on all of their transactions. This is relatively in line with other exchanges such as Bitstamp etc.

Is Bittrex safe?

However, it does charge a fee for the withdrawal of cryptocurrency to cover the network transfer fee. Bittrex displays this fee overtly, so you’ll know what to expect before you get to the decision point. Bittrex’s commission schedule is relatively straightforward and structured similarly to rivals’. Like many others, Bittrex has a maker-taker commission structure that gives some preference to those who create liquidity in the marketplace (makers) over those who reduce it (takers). It also offers discounts to those who bring a lot of trading volume to the crypto exchange.

Bittrex Trading Platform

All of these positives easily make up for the fact that it doesn’t allow trading in fiat currency (USD, EUR, etc.). The basic verification, which allows you to withdraw up bittrex review to 3 BTC equivalent per day, is usually a very easy process. Once your order has been filled, the cryptocurrency you purchased will be available in your Bittrex wallet.

• So far, Bittrex hasn’t been hacked or lost any of its customers’ money.
• When it comes to withdrawing your funds, you will follow a similar process.
• Finally, the last step is to buy, sell, or trade crypto or tokenized shares.
• In addition to the data required for basic accounts, enhanced accounts require users to provide scanned copies of legal photo identification materials as well as a selfie.
• As a crypto trader, you should be looking to trade your hard-earned coins and tokens on the best cryptocurrency exchange platform available.

• Founded in 2014, it is a full-featured cryptocurrency exchange with a focus on security and trust.
• Unfortunately, many cryptocurrency exchange platforms have ceased operations in Canada due to regulatory constraints.
• There are a variety of factors that make Bittrex a better option for cryptocurrency traders, outlined in the following sections.
• If you are only going to be trading and not withdrawing automatically, then you may want to disable the withdraw functionality.
• You’ll find articles on a wide variety of crypto topics, such as how crypto mining works and what you need to know about crypto taxes.
• Bittrex offers an impressive library of educational resources in its Discover section.
• They ask you some additional questions just to ascertain your fiat trading demands.

Bittrex customer support

• This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
• Takes a LOT of time and trial and error to go through this process.
• In the top right of the platform, you have easy access to your wallets, the other markets as well as your general account settings.
• All trades on Bittrex draw a 0.25% commission, a bit higher than the industry average.