Bittrex Review: Safe Crypto Exchange? This You NEED to Know

In addition to a straightforward trading experience, users can also benefit from a real-time view of the markets available on Bittrex. The platform also supports advanced order types, including stop, stop limit, trailing stop, and ladder limit orders. Those interested in staking can earn up to 5.5% in Cardano (ADA) rewards by staking ADA on Bittrex.

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Bittrex currently allows you to deposit and trade over 250 cryptocurrencies. You can use the search bar to find the cryptocurrency you wish to deposit. Poloniex has a very large number of users complaining about poor customer support. Across forums and message boards, you’ll find many users claiming to have not gotten a response in weeks or even months from their support. This has also been the experience of some Coin Central staff and friends of staff as well. Both exchanges currently offer a wide variety of BTC, ETH, and USDT trading pairs.

• Bittrex imposes a 3% fee on debit card transactions and a $25 fee for wire withdrawals.
• Customers need to complete an identity verification process on Bittrex in order to be able to fund their accounts and start trading.
• This Bittrex review will not only tell you what Bittrex is, but it will also tell you how to use it.
• Bittrex uses a maker/taker fee model where Bittrex fees decrease as a user’s 30-day trading volume increases, providing incentives for liquidity.
• However, if you would like to trade cryptocurrency with leverage, you’ll have to look elsewhere.
• These factors, combined with the lack of phone support, paint a less than ideal picture of Bittrex’s customer service.

Completed Order and Withdrawals

Beginners may find it has a bit of a learning curve, and the customer support could be better. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication.

Locate the Trading Pair You Want to Trade

Basically, bids and asks are the equivalents of buys and sells. You choose the number of units and the price and the market decides whether or not it is filled. Once your deposit is confirmed, locate the pair that you want to trade bittrex review by using the search function. Please be aware that wait times were becoming increasingly longer even before Bittrex stopped accepting new accounts. Hopefully, when the system is upgraded, verification will be back to normal.

Other platforms offer many ways to contact customer service directly, so this is clearly Bittrex’s letdown. Trading commissions form the primary source of revenue for many cryptocurrency exchange platforms, and Bittrex is no different. The instant buy feature allows users to purchase tokens directly using their credit or debit cards.

Creating and Verifying a Bittrex Account

This means that they are probably one of the only exchanges that you can easily convert fiat currency into a range of different smaller altcoins. One of the strongest advantages of Bittrex over some of the other exchanges is the number of cryptocurrencies that you can trade. In fact, they are probably one of the top exchanges when it comes to coin support. If you are funding your account in cryptocurrency, Bittrex will not charge you any fees.

However, its reduced charting capabilities versus the web platform will be problematic for users looking to perform technical analysis and trade using a single app. Unfortunately, Bittrex doesn’t support margin trading, making it difficult to take advantage of small changes in price without a sizable amount of capital. Customers can use drawing tools and technical indicators to find opportunities and switch between pairs without their analysis disappearing. Bittrex has recently unveiled its staking services, which allow users of the exchange to earn rewards on their crypto holdings. Currently, Bittrex has staking rewards on Cardano (ADA) at a rate of 5.5% APY. With no fixed lockup period and a minimum delegation of just 1 ADA, staking on Bittrex is very flexible.

If you want that option, you might want to opt for an exchange like Kraken or use a dedicated cryptocurrency derivatives exchange like BitMEX. Traders can earn fiat or crypto depending on the currency their referrer https://www.tokenexus.com/ paid their trading fees in, this is subject to certain limitations. If you’re always on the go and want access to your crypto portfolio anywhere in the world, you’ll want to get the Bittrex mobile app.