December 9, 2020

Bittrex Cryptocurrency Exchange Guide

This is our complete guide about the Bittrex Cryptocurrency Exchange

There are several exchanges in the cryptocurrency market, and one of them is Bittrex. This platform has been operating since 2013 and it is offering users the possibility to exchange cryptocurrencies in a fast and easy way.

Bittrex is considered to be one of the most user-friendly platforms in the market that would allow you to get access to a wide range of virtual currencies. Considering the platform is located in the United States it must follow stricter regulations than in other countries. However, this has provided better security to users over the last years.

Read More: What is Binance Coin?

What is Bittrex?

As we have mentioned in the introduction, Bittrex is one of the largest and most popular crypto exchanges in the world. Located in the United States it is allowing users to get access to some of the most traded digital currencies in the world.

The exchange aims at making security the most important thing for users. This is why they have been working to create an expert team that would protect users from hackers, attackers and scammers.

Nonetheless, the negative side about this platform is related to the fact that it has been offering weak customer support and it has frozen accounts due to different reasons. This has reduced the number of users the platform has.

Which are Bittrex Services?

Bittrex is a great platform to trade cryptocurrencies. You can buy and sell digital assets in a few simple steps with market and limit orders. Thus, users can expect to have a traditional crypto platform ready to allow them to acquire virtual currencies.

One of the main advantages of the trading system used by Bittrex is related to its speed. Compared to other exchanges, Bittrex keeps things minimalistic and fast. While other platforms seem to be full of features, they end up making the services slower and not as fast as with Bittrex.

Furthermore, you can deposit USD in your account through wire transfers. This can be very useful to users that want to get onboard to the crypto market and didn’t have the opportunity to do it before.

Users in most of the U.S. States can definitely trade with USD, deposit them and withdraw them to their bank accounts in just a few clicks. In addition to it, users can also trade with Tether (USDT), one of the largest stablecoins in the market.

Bitmex Fees and Regions Supported

In terms of fees, Bittrex is offering standard fees for trades. The platform decided to use flat commission fees for all the trades that take place in the platform. At the moment you will have to pay a 0.25% fee for the trade you perform. Although this is slightly higher than in other platforms, the services they offer are related to the fees paid.

In addition to it, users will be able to enjoy this platform all over the world. You do not need to be located in the United States to use Bittrex. However, there are some regions that are banned to use the platform, including North Korea, Iran, Crimea, Syria and Cuba. Furthermore, countries sanctioned by the United States are also going to be affected.

Bittrex Weaknesses

The main weakness of this exchange is related to customer support. This happens because the exchange tends to block and suspend accounts with or without funds due to different reasons. Nevertheless, the support they give to users is minimal and this ends up affecting their overall services.

A large number of users have claimed their accounts were frozen and the customer support never answered back. Other crypto platforms with lower fees are offering better customer support.

Conclusion Bittrex

Bittrex is among the most popular exchanges in the world. Users can enjoy a fast and secure platform and pay for standard fees while trading digital assets. Located in the United States and regulated by financial authorities in the country, it makes Bittrex one of the safest and most regulated platforms in the cryptocurrency market.

If you are searching for fast and reliable services to trade digital assets, then this is going to be a great crypto platform to use. Instead, if you want to have more services such as DeFi platforms or other solutions, this may not be the right choice for you. Take into consideration that users will be able to trade with USD and USDT but the customer support is not going to be among the best in the world.

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