Bittrex is one of the suitable choices for a leading reputable cryptocurrency exchange. This exchange has a variety of Altcoins, an easy-to-use interface, and quick coin trading, helping you to experience international cryptocurrency trading conveniently. Learn how to trade coins and Bittrex sign up for beginners now.
What is Bittrex?
Bittrex exchange was founded in 2014 with the leadership of Bittrex, Inc. This trading platform is based in Seattle, Washington, USA, developed by former employees of Microsoft and Amazon. Bittrex allows users to buy and sell digital currencies directly on a highly secure platform. Bittrex’s API suite makes trading quick and easy.
Besides, this exchange also has an automatic monitoring system that shortens the withdrawal time for Fiat and crypto pairs. Bittrex has a team of professional technical engineers to enhance information security.
Bittrex is an exchange regulated and licensed by US law. Bittrex’s daily trading volume is in the hundreds of millions of dollars. This exchange is also a formidable competitor of exchanges such as Binance, Kraken, Huobi, etc.
Bittrex’s History
When mentioning Bittrex, the first platform we need to name is Bittrex International. It was launched in 2018 to accommodate the growing investment scale of international traders, who look for investing in Bittrex.
However, in September 2019, the exchange launched a new platform called Bittrex Global. This is an alternative to Bittrex International. When applying this platform, all Bittrex accounts of previous investors will be automatically upgraded to the new platform.
Bittrex Scale
After less than 10 years in the crypto industry, Bittrex has made it onto the list of reputable cryptocurrency exchanges. The exchange is formidable with an impressive achievement of trading volume and more and more investors joining.
Bittrex exchange has high liquidity and a daily trading volume of up to 300 million USD. The current trading volume shows the growth potential and the humongous investment of traders on this exchange.
Bittrex exchange always prides itself on its unparalleled strength with an extremely rich list of coins. Investors can choose to trade two popular coins, Bitcoin and Ethereum, or lots of lower-cap tokens. The exchange currently lists hundreds of cryptocurrencies and processes millions of trades every day. Up to now, Bittrex has over 480 cryptocurrencies listed and over 1000 trading pairs on the platform.
Bittrex Global Products
In the central strategic direction, Bittrex Global focuses on the spot trading market (basic trading/spot trading) – providing coin/token trading pairs with BTC, ETH, USDT, and USD
BTC Market: At Bittrex, other coins and tokens are bought/sold and priced in BTC. The number of BTC transactions exceeds 22.6 billion USD per day in the market.
USD Market: This is a very rare market as there are very few exchanges that allow the trading of coins or tokens into fiat currency USD. Some popular coins on this market are BTC, ETH, XRP, USDT, LTC, BCH…
USDT Market: This is a strength of the Bittrex cryptocurrency exchange. Currently, USDT is also the token traded with the highest volume in the market, followed by equally popular tokens such as USD Coin, Paxos, True USD, etc.
ETH Market: Ethereum is the second-ranked coin, after BTC in popularity and trading volume. There are 30 coins/tokens traded in the ETH market on Bittrex.
Exchange Review before Bittrex sign up
Advantages of Bittrex
High security
The development team consists of experts in the technology field. This is the reason why the Bittrex operations team prides itself on its security foundation. This exchange uses crypto wallets to store customer assets offline for better security.
Stable trading fees
Every trade Bittrex hovers at the fee of 0.25%. Although it’s higher than some other exchanges, the method of completing the transaction is simple and suitable for new investors.
Friendly-interface
This is the biggest advantage of Bittrex. The exchange is designed with a simple, easy-to-use, and extremely user-friendly interface. The intuitive dashboard shows the full range of trading markets, prices, volume, and percentage change per day.
Variety of coins
With 480 coins listed on the Bittrex exchange, including both old and new coins such as Loopring (LRC) and Tron (TRX), Bittrex offers users more than 1000 trading pairs. Every day, the exchange aggregates reviews of each coin and lists them specifically on the platform.
Quick verification
Bittrex will verify the user’s identity before initiating a transaction. The user will verify on the Jumio platform. With the strong growth, the platform is possible to verify more than 100 million people in 200 countries. Users need to provide the following information for verification: full name, date of birth, and address.
Proprietary platform
The term “Elastic computing” has been applied by Bittrex to operate the exchange. In cloud computing, the term is quite common. This is a service that allows customers to initialize on demand a variety of virtual server resources including CPU, RAM, Storage, and Networks without having to invest in hardware equipment in the data center.
The Bittrex Platform has the following feature:
- Customize Brightness/Darkness.
- Displays 12 cryptocurrency price charts and 10 timeframes.
- 113 technical indicators and 33 drawing tools. Therefore, users can analyze charts.
- Offer limit orders to better support trading.
- There is an order function with the following conditions: Good Till Cancelled and Immediate or Cancel.
- Develop mobile applications with two popular operating systems: Android and iOS.
Fast deposits and withdrawals
The trading time on Bittrex is very short thanks to the automated monitoring platform.
Professional customer service
The language on Bittrex is English (the most popular language in the world). It can serve most users across the globe. Investors will be answered questions and consulted on some major sites such as Zendesk, Slack, Twitter, and Facebook.
Disadvantages of Bittrex
- Not supported through the Telegram channel.
- Due to being too strict about security, some new users are locked out of their accounts because of performing the wrong operations too many times
Bittrex sign up Guide
Bittrex requires you to provide personal information in order to be able to make transactions: email, full name, date of birth, and phone number. You need to wait within 30 minutes for Bittrex to confirm.
Step 1: Go to Bittrex’s website according to the button above => Select “Open your free account today”
Step 2: Enter your email address, and password to Bittrex sign up and code URG – 3GU – WEW to get a discount on transaction fees.
Note: The password must be at least 12 characters, and contain numbers, uppercase letters, special characters, etc.
Step 3: Check the Email you used to Bittrex sign up. The exchange sends you an email with a link to confirm.
Step 4: Select “Verify Email”.
Note: The link you received in the email is only valid for 5 minutes, so you need to quickly click to make the confirmation.
Step 5: Agree to Bittrex terms and conditions
Step 6: You need to fill in the same information as the address in your ID card or passport as required when Bittrex sign up. Then select “Continue” to continue.
Account Security Guide When Bittrex sign up
How to verify identity – KYC when Bittrex sign up
Step 1: Select your nationality => select “Continue”
Step 2: Choose to provide your information through Passport, driver’s license, or ID card (Here we select ID)
Note: Because of circulating globally, it is easy for hackers to commit illegal acts with Passport. And ID cards only circulate in Vietnam with higher security. Therefore, the advice for you is to provide your ID.
Step 3: Choose the form for uploading your ID’s photos (use it directly on the website if your computer has a webcam)
Step 4: Select “Start” to start posting ID
Step 5: Capture the front of your ID and click “Confirm”
Step 6: Capture the back of your ID and then click “Confirm”
Step 7: Take a portrait photo for face recognition with the photo taken on the ID Card.
Step 8: Wait 3 minutes to authenticate the account if the document is valid.
How to 2FA (Google Authenticator) set up When Bittrex sign up
Step 1: On the Bittrex homepage, select “My Account”
Step 2: Select “Two-Factor Authentication”
Step 3: Copy your security code
Step 4: Open the Google Authenticator app => Fill in the name of the “Issuer” section and the security code in step 3 to the “Secret” section. Then click Ok
Step 5: Copy the 2FA code and paste it into the “Authenticator Code” section => Select “Enable 2FA”
Step 6: Check the Email you used to Bittrex sign up. The exchange sent you an email with a link to confirm => Select “Yes, that was me”
Step 7: Copy and paste the 2FA code and then select “Enable Two-Factor Authentication”
Deposit and withdraw money when Bittrex sign up
How to deposit into Bittrex
Step 1: Select “Holdings” in the right corner of the screen.
Step 2: Select the token or coin you want to withdraw then click “Deposit”
Step 3: Copy the wallet address
How to withdraw money on Bittrex
Go to the Bittrex homepage and log in to your account
Step 1: Select the “Holdings” item in the right corner of the screen.
Step 2: Select the token or coin you want to withdraw then click “Withdraw”
Step 3: Enter the wallet address you want to withdraw the coin or token. Select the number of coins or tokens you want to withdraw.
Click the “ Withdraw” to withdraw money.
How to trade coins when Bittrex sign up
Step 1: On the Bittrex homepage, select “Markets”
Step 2: Search for the coin or token you want to trade
Trade Limit Orders on Bittrex
Buy coin orders
Step 1: Select the “Buy” mode and select the “Limit” order on the trading bar.
Step 2: Select the price of the coin you want to buy.
Step 3: Select the number of coins you want to buy. Select “ Place buy order” to place a trade order
Sell coins orders
Step 1: Select “Sell” and place a “Limit” order on the bar of trading orders.
Step 2: Select the price of the coin you want to sell.
Step 3: Select the number of coins, then select “Place sell order” to agree to the trading order.
Market Order Trading on Bittrex
Buy coin orders
Step 1: Select “Market” on the trading orders bar
Step 2: Select “Buy”
Step 3: Select the price of the coin you want to buy
Step 4: Select the number of coins you want to buy. Select “ Place buy order” to agree to a trading order
Note: In a market order, the price you buy will automatically be matched at the nearest price.
Sell coins orders
Step 1: Select “Market” on the trading orders bar
Step 2: Select “Sell”
Step 3: Select the price of the coin you want to sell
Step 4: Select the number of coins to sell. Select “ Place Sell Order” to agree to a trading order
Note: In a market order, the price you sell will automatically be matched at the nearest price
Frequently Asked Questions When Bittrex sign up
Is Bittrex a scam?
There are many people before participating in trading on the Bittrex exchange, who wondering about its safety and fidelity. To clear your doubts, you can see the photo below taken from user comments. This is how they feel after using Bittrex. As you can see from 5 years ago users in the US and Great Britain (England, Scotland, and Wales) have been impressed with Bittrex’s customer service and problem-solving speed.
Currently, in difficult times for the cryptocurrency market, many companies in this field have to lay off employees to cut costs or go bankrupt, but Bittrex is still operating normally. If Bittrex were a scam exchange, it wouldn’t have survived to overcome the hard times of the crypto market.
Should I trade on Bittrex?
Yes of course. Bittrex uses an Instant Buy & Sell trading system that makes it possible for users to buy a variety of cryptocurrencies by paying through an intermediary bank. Bittrex offers advanced trading tools with specific order types such as Limit, Market, OCO, Trailing orders, and Stop-Limit. These functions make it the best place to buy and sell Bitcoin for experienced traders.
Has Bittrex been hacked before?
In April 2019, Bittrex was sued by an individual investor named Gregg Bennett in the King County Superior Court of Washington state (USA). According to information from the press and financial forums, Bennet was hacked to take control of his mobile phone to rob his Bitcoin account trading on Bittrex. 100 Bitcoins were confiscated by the police from criminals, worth almost $1 million (at the time). This man alleged that Bittrex violated published security protocols and missed the opportunity to prevent the BTC theft.
After notifying the exchange’s user support, he didn’t get a response fast enough to stop the robbery. However, he said he successfully asked Bittrex to close the account and unauthorized withdrawals even though it was too late. About the incident, Bittrex refused to respond to the press about the lawsuit and the hack.
Does Bittrex have maintenance errors?
To better protect user accounts, Bittrex regularly has to maintain wallets and patch security holes to prevent hacker’s attacks. The fast trading system on Bittrex is thanks to them constantly applying new technology to transactions. Before the system maintenance, the customers receive the notification of the exchange via email or phone number and also in the notification section when you log in to your account.
Which country is Bittrex? Does it support Vietnam?
Bittrex’s is based in the US and is regulated by the legislatures in this country. Currently you can not trade P2P on Bittrex if you are Vietnamese. If you want to trade P2P, you need to register for Binance.
What is Bittrex Coin?
Currently, Bittrex has not released exchange coins.
Is it necessary to KYC a Bittrex account to withdraw money?
Because of the high-security requirements, when using Bittrex, you are required to KYC to withdraw money. It is still possible to deposit without verifying your identity, but your account will be closely monitored for suspected fraud or money laundering.
What is the deposit and withdrawal limit on Bittrex?
On Bittrex, you have to deposit a minimum of 50 USD and can only withdraw up to 100 BTC/day after completing KYC.
What types of fees are there on Bittrex?
- Bittrex does not charge a fee when users deposit money into the exchange.
- Withdrawal fees will be charged by the exchange according to the net cost of the coin or token.
- Maker and Taker transaction fees:
| 30 day volume (USD) | Maker | Taker |
| $0K – $5K | 0.75% | 0.75% |
| $5K – $10 | 0.50% | 0.50% |
| $10K – $25K | 0.35% | 0.35% |
| $25K – $100K | 0.20% | 0.25% |
| $100K – $1M | 0.12% | 0.18% |
| $1M – $10M | 0.05% | 0.15% |
| $10M – $60M | 0.02% | 0.10% |
| $60M – $100M | 0.00% | 0.08% |
| $100M+ | 0.00% | 0.05% |
What is Bittrex app on Android, iOS?
You can search for the keyword “Bittrex” on the CH Play or App Store and then download and access the App to trade.
Conclusion
If you have an interest in trading Altcoins, Bittrex will be a great choice. This is a long-standing exchange, has relatively low fees, and is very safe for your assets. When you make Bittrex sign up, you will put your trust in an intermediary cryptocurrency exchange to execute buy and sell orders with a high level of security, and multiple layers.
