Bittrex Exchange Review with Pros and Cons – Is it Safe?

Bittrex used to be the biggest Altcoin exchange before Binance took its place; however, it is still fairly popular.

They also offer USD Pairings.

Table of Contents

  1. When did they start?
  2. Do we know the founders?
  3. How secure is it, is there 2FA, etc.?
  4. What’s the point of verifying yourself?
  5. What does the exchange focus on?
  6. Does it hold IEOs?
  7. What are the fees?

START AND FOUNDER

Bittrex was founded in 2014, in Seattle, WA, by three cybersecurity engineers, called Bill Shihara, Richie Lai and Rami Kawach.

They are still the main people behind the exchange.

Bittrex is still located in Seattle, Washington.

SECURITY

You have the option to secure yourself with a Two-Factor Authenticatior, like Authy or Google Authenticator.

It is also recommended to verify yourself, that way you can increase your BTC withdrawal limit to 100 BTC, and it also gives you access to the USD Markets.

Security lock, with a small description under it.
Like most other high-tier exchanges, they also keep the majority of the user funds in cold wallets.

THE EXCHANGES FOCUS

They focus on creating a smooth altcoin trading experience while complying with the US regulations.

To do that, they have two versions of their website, one is called Bittrex, and the other one is called Bittrex International. The US Version is more strict, which means that there are fewer available cryptocurrencies on that platform.

They are also launching Initial Exchange Offerings, which is making them the first exchange to do it without having their own token.

FEES

Fee structure of the cryptocurrency exchange called Bittrex.

In September 2019, they have updated their fee structure, from a flat 0.25% to a better, more dynamic one.

Bittrex

7.8

Ease of Use

7.6/10

Security

8.1/10

Fees

7.7/10

Pros

  • Ability to access USD Markets
  • Huge selection of altcoins
  • Good customer support

Cons

  • Their redesigned user interface is mediocre at best