Who Should Use Bittrex?

Bittrex'southward in-depth features can encounter the needs of most cryptocurrency investors, but its fees are non the lowest bachelor. As with nigh exchanges, volume discounts make this commutation's fees more competitive for frequent traders, though you lot'd take to exchange more than $100,000 of crypto a month to come shut to low-fee leaders Binance.US or KuCoin.

Non-specialist users should annotation that Bittrex's instant purchase platform can charge spread fees that brand it uncompetitive, and experienced traders may want more than advanced options, like margin trading.

Bittrex is bachelor in most U.S. states, with a few exceptions. One major omission, New York, stems from the state'due south Department of Financial Services deciding the platform had deficiencies in combating money laundering, among other issues.

As with all crypto exchanges, it's of import to keep in mind that investing in cryptocurrency is a risky proposition as almost all coins experience wild swings in value. You should never invest more in crypto than you can afford to lose.

Bittrex Fees

Similar many cryptocurrency exchanges, Bittrex'due south fee structure is based on the maker/taker model. Orders are categorized either every bit makers, which create liquidity on the commutation, or takers that reduce liquidity. Since maker orders increase liquidity, they often incur a lower fee than takers.

It's incommunicable to know whether whatever detail society volition create or reduce liquidity when you place it, and so y'all volition not know if you lot are paying a maker or a taker fee until the gild goes through.

Bittrex offers volume discounts that reduce the fees you lot pay for trades based on your previous thirty-solar day trading volume. In short, the more than you lot trade, the less you pay, though you'll accept to merchandise tens of thousands of dollars worth of crypto per calendar month to qualify.

Bittrex's maker-and-taker fee structure is every bit follows:

You also incur fees if you withdraw coins from your Bittrex account, as you might if yous wanted to put them in a carve up crypto wallet. If yous anticipate you will regularly move your coins to a split wallet, you may prefer a platform like Gemini, which provides a certain amount of free withdrawals each month.

Bittrex Features

Instant Purchase and Sell

Newbies may appreciate only how easy it can be to buy crypto on Bittrex, thanks in large part to its Instant Buy and Sell feature. Through Instant Buy and Sell, investors can buy many leading cryptos using a linked bank account, coin already held in their account or a debit carte.

While you won't run into fees at the starting time of this process, they announced before you lot place your social club in the form of a spread. This will ofttimes be much more expensive than if you had simply used Bittrex'south trading platform yourself, in particular if yous use a debit card to fund your purchase.

Debit transactions come with an additional 3% fee, plus any fees your depository financial institution charges, significant most investors will be best served funding their accounts with free ACH transfers and by quickly learning how to navigate a trading platform.

Security

To decrease the adventure that major hacks upshot in the loss of client assets, Bittrex stores the majority of its cryptocurrency avails offline in so-called cold storage. In improver, the platform has taken out a policy covering upward to $300 million in customer assets.

Other Bittrex security features include ii-cistron authentication and wallet and IP address whitelisting. These all reduce the likelihood that someone can impersonate you on the platform or hack your account by increasing the steps you lot must go through to log in and perform certain transactions too as reducing the wallets and locations that can admission your coins.

Cryptocurrencies on Bittrex

Bittrex offers the following leading cryptocurrencies:

  • Bitcoin (BTC)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • USD Coin (USDC)

For a full list of the cryptocurrencies available on Bittrex, view the company's Markets page.