Bittrex Review 2023
By:C, FionaBittrex Review: Our rating for Bittrex exchange is 3/5.
Bittrex could be a good option for active traders seeking relatively low fees and several order types. However, Bittrex’s customer feedback is mostly negative.
What is Bittrex?
Bittrex is a global crypto exchange offering over 250 cryptocurrencies to buy, sell, and trade. Users can benefit from relatively low fees, multiple order types, and a range of security features to help keep their funds safe.
While Bittrex is fairly user-friendly, beginners may be overwhelmed by its trading platform and the number of assets it supports. Thus, it could be better suited to more experienced crypto traders and investors.
This exchange initially offered only crypto-to-crypto trading, but it recently introduced fiat-to-crypto trading as well. However, it’s worth noting that its fiat trading program is relatively new, so trading pairs are limited and fiat trading isn’t available everywhere. This exchange is available in 46 U.S. states, excluding Connecticut, New Jersey, Hawaii, New York, and Vermont.
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Bittrex Review – Pros & Cons
Pros
- Large selection of cryptocurrency
- Low fees
- Widely available
Cons
- Relatively limited customer support
- Poor user feedback
- No margin trading
Bittrex Review: Trading Experience
The trading experience on Bittrex is fairly straightforward. Users can log in to their trading dashboard on desktop or through the Bittrex mobile app, available for Android and iOS. The desktop interface offers a simple “Instant Buy/Sell” option where users can quickly make trades or purchase crypto with a debit card, credit card, bank account, or Bittrex account balance.
In addition to a straightforward trading experience, users can also benefit from a real-time view of the markets available on Bittrex. The platform also supports advanced order types, including stop, stop limit, trailing stop, and ladder limit orders. Those interested in staking can earn up to 5.5% in Cardano (ADA) rewards by staking ADA on Bittrex.
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Range of Coins
Bittrex supports over 250 cryptocurrencies and stablecoins. This wide selection makes it an attractive platform for those looking to trade popular coins as well as lesser-known options. Here’s a partial list of assets available on Bittrex.
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (LINK)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Polygon (MATIC)
- Tether (USDT)
For a full list of the cryptocurrencies available on Bittrex, see the company’s Markets page.
Bittrex Fees
Bittrex offers a simple maker/taker fee structure, which is useful for those interested in cost transparency. As with many other crypto exchanges, fee discounts are available for higher-volume traders. Overall, Bittrex’s fees are on par with fees of other major exchanges like Kraken, though some exchanges do offer lower fees.
Here’s a look at Bittrex’s fee structure:
| 30-Day Volume (USD) | Maker | Taker |
| Less than $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| $100,000 – $1 million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 million + | 0.00% | 0.05% |
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Bittrex Review: Is Bittrex Safe?
Bittrex has several security features designed to help protect users’ funds and suggests some account security best practices. The platform keeps the majority of user funds in cold storage. It also employs measures like two-factor authentication, and wallet and IP address whitelisting.
In addition to these features, Bittrex offers some helpful guidance for users on security best practices. This guidance includes tips for avoiding phishing attempts, keeping phones secure, creating strong passwords, and disabling your account in the event of a hack.
What are the User Reviews on Bittrex?
Bittrex receives negative feedback overall from its users, and it has an average rating of 1.3 out of five stars across over 490 Trustpilot reviews. Users report issues with account lockouts, frozen assets, and problems with identity verification. Unfortunately, these concerns are common across many cryptocurrency exchanges and aren’t unique to Bittrex.
Despite the negative feedback Bittrex has received, some users have positive things to say. Customers appreciate its wide selection of assets and its security features.
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Alternatives to Consider
If you want to trade on exchange with low fees and excellent customer satisfaction: BTCC is one of the most reliable exchanges in the world with wide range of cryptos and advanced trading features. BTCC is also a good choice if you want to diversify your investments to include stocks, commodities, and crypto.
BTCC is one of the world’s longest-running and best known exchanges with over 11 years of stable and secure operating history focused on the Bitcoin and Ethereum trading. BTCC offers trading service in US, Canada, and many other countries in Europe.
Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. BTCC has over 1 million registered users, and it has a trade volume (24H) of $16.21 billion.
Here are some key reasons why BTCC is also a good choice for you:
Safe & Secure
BTCC places strong emphasis on security, offering multiple strict measures to ensure the safety of user assets, with no reported hacks or security breaches to date.
High Liquidity & Volume
One of the largest crypto futures exchange by volume and open interest, dominating the derivatives sector with huge market share.
High Leverage for Crypto Futures Trading
BTCC offers a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT with high leverage up to 100x.
User-Friendly
Simple user-friendly interface and intuitive trading platform, ideal for both beginners and advanced users. It also offers a range of educational resources and market updates to help users expand their understanding of the crypto and trade more easily.
One-Stop Trading Platform
Apart from large crypto selection, BTCC also supports tokenized futures, allowing users to trade stocks and commodities futures with USDT. With the integration of spot and futures markets, BTCC offers a complete ecosystem to fully utilize crypto/stock/commodity assets and manage portfolio risks.
If you want a U.S. based full-service crypto exchange: Headquartered in the U.S., Gemini is easy to use and offers a good range of cryptocurrencies, trading features, staking, and rewards.
Bittrex Review: How Bittrex Compares to Other Crypto Exchanges
Those interested in a wide selection of crypto trading pairs, real-time market data, and advanced order types may appreciate what Bittrex has to offer. It’s also a fairly secure exchange, with multiple tools in place to protect user funds. Here’s a look at how Bittrex compares to another popular exchange, Kraken:
Bitfinex vs Kraken
- Bittrex supports over 250 cryptocurrencies, while Kraken supports 220+.
- Bittrex has slightly higher maker/taker fees than Kraken. Fees range from 0.00% to 0.35% on Bittrex and 0.00% to 0.26% on Kraken.
- Kraken offers phone support to address urgent or challenging issues, while Bittrex does not offer this option.
Read our full Kraken review.
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Bittrex Review: Final Verdict
Overall, Bittrex could be a good choice for experienced crypto traders. The platform has hundreds of supported assets, with a focus on crypto-to-crypto trading pairs. Users will also appreciate its robust security features and the option to place advanced orders.
However, its trading interface and the large number of supported currencies may be overwhelming to beginners. Bittrex also offers relatively limited customer support, so novice traders may be better off with an exchange like Kraken, which provides phone support for urgent issues.
Hope you’ll find this Bittrex review helpful.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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