Bittrex

What is Bittrex?

Bittrex is a cryptocurrency exchange catering to a global audience with more than 250 tokens on offer, which you can sell, trade, or purchase. Users could benefit from its several order types and its variety of security features, which aim to keep their assets safe.

Like other exchanges out there, starting off can be a bit overwhelming if you happen to be a beginner, and the same can be true here as well. Therefore, newcomers to the space may initially have a hard time navigating through this exchange and the assets it supports, which may make it a better alternative for some of the more experienced cryptocurrency traders. However, if you stay long enough, like with anything, you will eventually get the hang of it.

What is BTXCRD on Bittrex? 

Here, BTXCRD stands for Bittrex Credits, which happened to be a customer rewards program the exchange employed to allow its users to receive some commission-free trades whenever they would trade on Bittrex Global. However, unfortunately, this credit program has recently been terminated, and users are therefore not eligible to earn any credits.

Where is Bittrex Located?

Bittrex is currently based in the United States, in Seattle. The firm’s non-US operations, on the other hand, can be found in Liechtenstein.

Who created Bittrex? 

In 2014, the Bittrex cryptocurrency exchange was founded by three individuals named Rami Kawach, Richie Lai, and Bill Shihara, who all once held important managerial positions at Amazon.

For instance, Bill Shihara held the position of Security Engineering Manager, whereas Richie Lai was a leader within the Amazon Information Security Team. As for Rami Kawach, his position was Principal Security Engineer, where he managed various security issues at Amazon.

Who Owns Bittrex?

Bittrex Global and the services it offers are owned by the company named Bittrex Inc., whose founders have already been mentioned earlier.

Is Bittrex Exchange Available in the USA?

Towards the end of March 2023, the CEO and co-founder of Bittrex, Richie Lai, gave a statement announcing the closure and winding down of the exchange’s operations in the United States, which was effective April 30 this year. The statement then went on to claim that users’ funds were safe and withdrawable until April 30. So, no, the exchange is no longer available in the United States.

Is Bittrex Safe? 

As highlighted previously, Bittrex has multiple security features on offer that are designed to safeguard users’ funds. For example, it stores most of its users’ assets in cold storage. Moreover, it deploys measures such as two-factor authentication and IP address and wallet whitelisting.

Furthermore, Bittrex provides some useful guidance for its users concerning security. This takes the form of tips for keeping mobile devices secure, avoiding phishing attempts, disabling accounts if a hack is taking place, and generating strong passwords.

However, despite its security features, one thing worth mentioning is that its user feedback is mostly negative, with a rating of 1.4 on Trustpilot. Moreover, its Trustpilot reviews number more than 500, which can be substantial enough to make that rating even more compelling.

Consequently, its users report problems pertaining to account lockouts, issues with identity verification, and frozen assets. Still, such concerns are by no means unique to Bittrex and are something you will find on many cryptocurrency exchanges.

Pros and Cons of Bittrex

Pros 👍

There are a handful of things that Bittrex might have going for it. For one, its cryptocurrency selection isn’t bad, and the same can be true for its educational material and its security features.

Cons 👎

However, there is a lot that needs addressing.

• Firstly, it needs to amp up its customer support, which many users have pointed out to be subpar.
• Secondly, its fee structure isn’t particularly competitive in today’s cryptocurrency landscape.
• And then you have the fact that it was forced to shut down its US-based operations, which indicates a lack of regulatory compliance.
• Finally, it could make the onboarding process for its users a bit smoother; as things currently stand, it can be a bit overwhelming for beginners.

How to Buy Crypto on Bittrex?

There are quite a few ways to buy cryptocurrencies on this exchange. However, here we will only be discussing one, which is outlined below.

Step 1. Sign Up

To buy cryptocurrencies on Bittrex, you will have to register for an account there first. So, just head over to its official website, click the “Sign Up” button at the top, and follow the instructions asked of you here to complete the registration process. One thing to note here, however, is that you may have to complete KYC and add some additional information, along with creating an account, within one session.

Step 2. Select “Instant Buy & Sell”

Once you’re done with the registration and KYC process, you can log into your account and click the “Instant Buy & Sell” option at the top. Select the “Buy Now” section, enter the amount, choose the token you want to buy, and also choose the fiat currency you want to make the payment in.

Step 3. Choose “Debit/credit card”

Select the “Debit/credit card” option under “Pay using.” Following that, you will be directed to a page where you will have to enter the appropriate information pertaining to your debit or credit card. So, review your purchase once you have done that to get done with your payment.

How to Deposit on Bittrex?

How to Withdraw on Bittrex?

Like depositing, go to your “Holdings” tab and search for the token you wish to withdraw. Click that token’s withdrawal option, and you will then have to add an address in the withdrawal field. So, if it is a third-party wallet, like Coinbase’s, for instance, open it and select the same token there as the one you’d like to receive. A unique address will then be generated that you will have to paste into the Bittrex withdrawal field mentioned previously. And there you have it: you have successfully withdrawn your cryptocurrency from Bittrex. However, like with deposits, make sure to select the same token on both ends; otherwise, your funds will be lost.

How to Transfer from Bittrex to Coinbase?

You can start by signing into your account on Coinbase, clicking “Trade,” and under “Wallet Balance,” clicking “Deposit.” Look for the token you wish to deposit and copy the deposit address for it. Then, head over to Bittrex, and from the “Holdings” page, select that same token and click its “Withdraw” option. Paste the deposit address that you copied earlier into the withdrawal field here to transfer your funds from Bittrex to Coinbase.

Bittrex Review

Review and basic information of Bittrex are as follows.

Crypto Exchange Basics	Bittrex
Official Name	Bittrex
Exchange Representative (Founder)
Headquarters Location
Bittrex Launch Date	1970-01
Number of Tradable Crypto Pairs	Pairs
Weekly Visits	0 Users
Overall Rating	⭐ / 5.0

The rating result at the top is the result of Coin-Labs.com's overall evaluation of Bittrex.
Bittrex was rated in seven categories: fees, diversity and quality of the services provided, security capabilities, etc.

Bittrex Fee 2024

The fees charged to you for transactions at Bittrex are as follows.

Maker/Taker Fees	Bittrex Transaction Fees
Spot Maker Fee	0.1%
Spot Taker Fee	0.15%
Derivatives Maker Fee	No Service Provided
Derivatives Taker Fee	No Service Provided

The fees shown in the table above are Bittrex transaction fees charged to a regular user.

Bittrex Trading Volume

Trading Volumes of Bittrex are as follows. (Based on CoinMarketCap 2024-12-09 01:11:18 data)

Trading Volume Items	Bittrex Trading Volume
Daily Trading Volume (24h)	0 KRW
Weekly Trading Volume (7d)	0 KRW
Monthly Trading Volume (30d)	0 KRW
Daily Volume Change (24h)	0.00%
Weekly Volume Change (7d)	0.00%
Monthly Volume Change (30d)	0.00%

Communicate with Bittrex

You can check exchange's messenger and SNS information in the table below.

Types	URL
🐦 Twitter
🎺 Messenger

FAQs