Overview

8.7/10
OVERALL SCORE

Table of Contents

Share this Review

Review Exchange Review Bittrex Exchange Review with Pros and Cons

Bittrex Exchange Review with Pros and Cons

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.

Bittrex Exchange Review banner with a dark background.

Breakdown

US Residents AllowedYes
Exchange TypeCentralized
Exchange TokenNo
Two-Factor AuthenticationYes
Foundation Date2013
HeadquartersSeattle
Withdrawal Limit Without KYC DocumentsKYC is Needed
Fiat-to-CryptoYes
Crypto-to-FiatYes
Bank DepositsYes
Bank WithdrawalsYes
Credit/Debit Card PurchasesYes
Trading FeesNot Fixed | See Fees
Margin TradingNo

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.

Bittrex Global announcing that it has a mobile application, with a blue background.
Bittrex has redesigned its unpopular user interface, as well as releasing a brand new mobile app.

Frequently Asked Questions

Yes, they can, but with a limited altcoin selection. Bittrex is also located in Seattle, Washington.

Yes, you won’t be able to do anything without verifying yourself.

Yes, it is! They have insurance that covers their cold storage for up to $300 million, which is the highest insurance out of any exchange.

It is fairly safe to trade on Bittrex, they were one of the first exchanges in the cryptocurrency space, and their high insurance gives traders an additional peace of mind.

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

MakerTaker30 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

Ease of Use
9.1
Reputation
8.3
Security
9.5
Fees
8
Payment Methods
8.5
8.7/10
OVERALL SCORE

Disclosure: The links in this review are referral links, which means that by registering to the exchange using our links, you are helping this website to keep running, which allows us to pay for hosting and work on quality, fact-based reporting. We did not contact anyone before writing this review, and we rated them to our best knowledge.

Recommended Tools