Bittrex is U.S. based and founded in 2013 in Seattle, Washington. The company was established by Bill Shihara, Rami Kawach and Richie Lai who all worked for Microsoft.
What is Bittrex?
Bittrex is a veteran cryptocurrency exchange, based in the United States that has expanded in popularity in the past few years. The trading platform comes highly recommended for its stability and speed and has never been hacked since it was founded. The only disadvantage to this exchange is that it appears to suspend user accounts without giving prior notice to the customer, and it offers minimal support to its customers.
Bittrex claims to place great emphasis on security features and has employed the most effective and reliable technologies available. The founding team consists of computer security experts with a combined experience of forty years. Bittrex has a multistage, elastic wallet strategy in place that safeguards 80% to 90% of funds online. On the user’s side, two-factor authentication is applicable for all API calls and withdrawals. If this is not activated, a limit is enforced on withdrawals until the customer’s 2FA is set up. Due to their security measures, Bittrex has never suffered a loss of customer funds or any security breaches. Crypto Head compared the exchange, and you can view the online review on their website.
This cryptocurrency exchange platform has one paramount service that it offers. An extensive list of currencies is listed on the platform, and standard spot trading orders are allowed to be carried out. The present trading engine effortlessly binds together automated trading features like stop-loss, instant buy or sell, GTC (good ‘til canceled) along with all the regular technical charting tools that a trader may require. Clients continuously commend the exchange for its trading interface, quick loading times, and no reports of lagging or hanging on the system. There is no option available for margin trading on Bittrex.
Payment methods and currencies
Customers who are identify verified (corporate or personal) who are operating outside the U.S. or in any of the following U.S. territories/states are eligible for trading in U.S. dollars, withdrawals, and deposits:
Arkansas, Alabama, Arizona, Alaska, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana ,Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Missouri, Mississippi, Michigan, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Dakota, Oklahoma, Oregon, Ohio, Puerto Rico, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Washington DC, Utah, Washington State, Wisconsin, West Virginia.
USD withdrawals and deposits can only be done through a wire. An account with no eligibility for USD trading can still optimize stable coins such as USDT (Tether). There are more than 400 altcoins available for trading against Ethereum, USDT, Bitcoin, and USD.
There is a 0.25% flat commission charged for all trades. Trading fees are somewhat higher than other cryptocurrency exchanges. There are also no rebates given for volume trades or any incentives for takers and makers.