If you are in the world of bitcoin sportsbook, you must have heard about Bittrex. Here in the following article, we are going to give you a complete and genuine review of Bittrex.
Bittrex is a company founded in the United States. It is a cryptocurrency exchange platform and specializes only in this target. Therefore, you can only deposit funds directly in a cryptocurrency. Due to its strength, cryptocurrency offer and ease of use, it has become one of the operators’ favorite exchanges.
This platform founded in 2013, has a team of professionals with experience in large companies such as Microsoft, Amazon, and BlackBerry.
It offers hundreds of different cryptocurrencies and is one of the easiest platforms to use in the market. In addition, it is one of the safest and most reliable exchanges.
Due to its great popularity and volume of transactions, Bittrex was forced to temporarily suspend the registration of new users in December 2017. This in order to maintain a good service, without interruptions or incidents. However, they continue their expansion plans, so we believe that this temporary measure will be canceled soon.
Bittrex Review- account registration and verification:
First, keep in mind that the registration of new accounts is suspended until further notice. That said, it should be mentioned that Bittrex has one of the simplest records among all exchanges. To create a new account, simply visit the Bittrex website, select “Log in” and then click on “Don’t have an account? Sign Up:
Signing up for Bittrex is that simple. Now let’s see if you need to verify your account and how to do it.
Like many other exchanges, the Bittrex account verification is divided into different levels. According to your level of verification, you can increase your deposit and withdrawal limits. But this platform is not complicated as much as others: it has only 2 types of account:
Basic Verification: This is the most common type of verification and works quite well in most cases. It is the minimum requirement to start trading in Bittrex. You will be asked for 3 basic information: name, address, and date of birth. In addition, you will be asked for your phone number to make a quick verification via SMS. Users in this category can withdraw up to 0.4 BTC per day.
Advanced verification: here, you will be asked to upload digital copies of some identity documents. Also, you will have to take a selfie using the camera of your computer or mobile phone. Bittrex works with Jumio, that applies several heuristic methods to verify the legitimate match between his identity document and his photo. Users with advanced verification can withdraw up to 100 BTC per day.
Deposit of funds:
As we have said before, Bittrex is an exchange that only supports cryptocurrencies. In other words, it is not useful to buy digital currencies using fiat currencies, such as the dollar or the euro.
Therefore, you must deposit funds in one of the wallets of one of the cryptocurrencies offered by Bitrrex. The platform will create these custom wallets with a unique address for you. It is best to deposit funds directly in any of the base currencies (BTC, ETH or USDT).
However, there is good news for Bittrex users who also want to trade with fiat currencies. The General Director of Bittrex, Bill Shihara, has announced to Unikrn Radio that they are working on the incorporation of several exchange pairs in dollars.
You will not have to worry about the minimum deposit limits. Bittrex does not impose minimum amounts for the deposit of cryptocurrencies. The limits are given by the minimums of each cryptocurrency.
The minimum amount of operations:
In November 2017, Bittrex increased the minimum of its operations to 0.001 BTC per operation. Read more about Bittrex here.
What makes Bittrex different from the rest of the exchanges?
Bitrrex is a cryptocurrency exchange similar to others found on the web. However, behind the curtain, Bittrex is an extremely solid and reliable platform. Here some of the features that confirms it:
Registered company and operating license. Bittrex is a company registered in the USA and operates under the legislation of that country. In fact, it is one of the first companies to apply for the New York Bitlicense license. This provides more confidence to investors who want to avoid online scams.
Bittrex offers 197 different cryptocurrencies through three markets. These 3 markets allow trading with three cryptocurrencies: bitcoin (BTC), Ethereum (ETH) and Tether (USDT). The cryptocurrency list includes the most popular. Below, we list the ones with the highest volume of transactions:
– Bitcoin (BTC)
– Tron (TRX)
– Nexus (NXS)
– Health (SLS)
– Ion (ION)
– ETC (Ethereum Classic)
– Verge (XVG)
– Ethereum (ETH)
– UnbreakableCoin (UNB)
– ZClassic (ZCL)
– Expand (EXP)
– CloakCoin (CLOAK)
– Quantum Resistance (QRL)
– OkCash (OK)
– Ripple (XRP)
– Reddcoin (RDD)
– NEO (NEO)
– Guppy (GUP)
– Siacoin (SC)
– Nubits (NBT)
The cryptocurrency offer is quite complete and varied. However, Bittrex is one of the strictest platforms to add new altcoins in its offer, so it is difficult to find newer currencies. Generally, it takes a few months until Bittrex adds a new cryptocurrency to its list.
Conclusion about Bittrex Review:
Bittrex is one of the best cryptocurrency exchanges. It is a secure, reliable platform that has managed to maintain a fairly positive reputation, free of problems related to scams or significant failures. Although the competition is becoming increasingly intense, Bittrex has managed to maintain a very considerable volume.
With future plans, Bittrex will surely be among the first exchanges. Until now, it has managed to respond adequately to the changing circumstances of the cryptocurrency market. This is probably one of the essential platforms for any trader and, those that are starting to operate should definitely try Bittrex services.