Bittrex used to be the go-to crypto exchange a few years ago, but thanks to their lack of innovation, they have fallen behind; however, in 2020 they have done a massive redesign.
Breakdown
| US Residents Allowed | Yes |
| Exchange Type | Centralized |
| Exchange Token | No |
| Two-Factor Authentication | Yes |
| Foundation Date | 2013 |
| Headquarters | Seattle |
| Withdrawal Limit Without KYC Documents | KYC is Needed |
| Fiat-to-Crypto | Yes |
| Crypto-to-Fiat | Yes |
| Bank Deposits | Yes |
| Bank Withdrawals | Yes |
| Credit/Debit Card Purchases | Yes |
| Trading Fees | Not Fixed | See Fees |
| Margin Trading | No |
Start and Founders
Bittrex was founded in 2013, in Seattle, WA, by three cybersecurity engineers, called Bill Shihara, Richie Lai and Rami Kawach.
They are still the main people behind the exchange.
The exchange’s headquarters is located in Seattle, Washington.
Security
You can add two-factor authentication to protect your account — which we highly suggest.
Bittrex has insured the digital assets held in its cold storage to up to $300 million, giving traders a peace of mind. It is the highest insurance any exchange has followed shortly by Coinbase, which has a $255 million coverage.
In case the exchange gets hacked, even if the insurance is able to cover it, legal action can take years.
We strongly recommend everyone to use a hardware wallet.
Main Focus
Bittrex’s main focus is trying to get back to the top, as they had fallen off massively when Binance took over them.
In early 2020 they have redesigned their whole website, launched a nice looking mobile app, and started a referral program so they can bring volume back to their exchange.
Traders mostly use Bittrex to trade altcoins, but it is also possible to buy and sell cryptocurrencies for fiat currencies, such as the USD.
Frequently Asked Questions
Pros and Cons
Pros
- Wide variety of cryptocurrencies
- One of the longest-standing exchange
- Reasonable fees
- Has an OTC desk
- Highest insured cryptocurrency exchange
Cons
- Doesn’t allow US residents
- Not insured
- Have to verify yourself before using the exchange
Fees
| Maker | Taker | 30 Day Volume |
| 0.20% | 0.20% | $0k – $50k |
| 0.12% | 0.18% | $50k – $1M |
| 0.05% | 0.15% | $1M – $10M |
| 0.02% | 0.10% | $10M – $60M |
| 0.00% | 0.08% | $60M+ |
Review Summary
8.7/10
Overall Score
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We did not contact anyone before writing this review, and we rated them to our best knowledge.