Bittrex Exchange Review

Bittrex is a cryptocurrency exchange or digital asset exchange that was founded in 2013 by three business partners, including Bill Shihara. Prior to launching Bittrex, they were involved at Microsoft as security professionals – something a Bittrex exchange review reveals has rubbed off on security practices at this cryptocurrency exchange. This US-based outfit with headquarters in Seattle, Washington, seems to be at the top of their game in terms of industry-leading security practices.

A Bittrex exchange review also reveals that this cryptocurrency exchange is not a regulated exchange in terms of US security laws. Nonetheless, they seem to embrace self-regulation and have made a U-turn in terms of their former practice to list as many cryptocurrencies as possible. This is evident in the de-listing of no less than 82 cryptocurrencies that were said to be in violation of Bittrex’s listing requirements.

Bittrex and two other crypto exchanges were prompted to temporarily halt new registrations during the 2017 crypto bull market. A Bittrex exchange review reveals that this happened in December 2017 and that new registrations were only allowed on April 10, 2018 again. This is after Bittrex was forced to upgrade both their website and infrastructure to be able to handle the volume of new registrations.

Bittrex can today be described today as an advanced digital asset exchange with an international customer basis. Bittrex International seems to operate within the regulatory framework created by the European Union (EU) and the regulatory authorities in Malta (e.g. the VFA Act, short for Malta Virtual Financial Assets Act).

The exchange considers itself as one of the pioneers in leading the world in the blockchain revolution. It mainly focuses on bringing new innovations into the cryptocurrency world and finding new ways to integrate crypto-coins in daily life. One such feature is their “Blockchain Incubator”, where Bittrex works with various teams in the industry to create new cryptocurrencies.

Bittrex does not charge different fees for takers and makers, meaning it charges a flat trading fee. The flat fee on the platform is 0.25%. This is just in line with the global industry average. Though this isn’t necessarily an advantage or a disadvantage, it should be kept in mind that most cryptocurrency exchanges today charge fees averaging around 0.20%-0.10%. This means that Bittrex’s fees are slightly higher than those charged by other competitive cryptocurrency exchanges. The exchange charges a withdrawal fee of 0.001 BTC, which is slightly higher than the global industry average.

Though the exchange did not allow for fiat-crypto trading before 2018, such features are now available due to Bittrex’s partnership with the New York Signature Bank. After this partnership was announced, Bittrex declared that users would be able to deposit fiat currencies to their accounts. Such deposits can be made via bank transfers without a fee, though credit cards are not accepted as a valid form of payment. This is good news for new cryptocurrency investors as this new feature enables them to conduct their trades in a practical manner.

Bittrex is known for providing an extremely secure platform for its users. Such security is ensured through two-factor authentication as well as added verification requirements for users’ accounts. Almost 90% of users’ wallets are kept online and multisig wallets are used in order to prevent possible hacking. So far, there have not been any complaints regarding Bittrex’s security and all user comments online are very positive. When combined with the fact that the team behind the exchange is very experienced and transparent, Bittrex offers a very trustworthy platform for all users.