Bittrex Review 2024

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    Bittrex Global is one of the most secure cryptocurrency platforms in the world.

    Bittrex uses a flexible multi-stage asset storage strategy: most of the cryptocurrency is stored in cold storage for additional protection. Platform provides two-factor authentication for all clients and provides many additional security features.

    Bittrex cryptocurrency exchange
    Bittrex homepage

    The exchange is regulated by the The Bermuda Monetary Authority and is licensed to trade digital assets and provide custodial wallet services.

    This is a reliable trading platform with a good rating, providing services for both professional and novice traders. Our experts have studied all the features of the Bittrex crypto exchange, from registration to trading opportunities.

    Registration and account verification

    Step-by-step instructions on how to register on the Bittrex exchange:

    1. Click Sign up in the upper right corner on the official page of the exchange;
      Bittrex registration start
      Registration on Bittrex
    2. Enter email, create password;
      Bittrex registration form
      Bittrex registration form
    3. Bittrex will send an email to the specified email address: click the Verify Email link to verify your email address.

    After successfully verifying the email, you need to read carefully the Terms of Service. To agree with the terms of the exchange click Accept the terms.

    A new Bittrex Global user will be automatically redirected to the account creation page on the exchange. Identity verification is a mandatory step in working with the trading platform.

    Required verification helps prevent unauthorized access and protect your account.

    Let’s move on to the verification process:

    1. Firstly fill in profile data: country of residence, address, city, zip code and date of birth;
      Profile Fill
      Fill Profile
    2. The first step of verification ID – specify nationality → click Continue;
      ID verification
      ID verification
    3. Next, select country/region and document type for checking up;
      Identity verification with passport as ID
      Identity check with passport as ID
    4. Make a document photo and a selfie.
    ID verification takes about 10 minutes. Do not close the page until the process is complete.

    If the verification is successful, click Start Trading and go to the security settings.

    Account protection

    The daily withdrawal limit is $10,000. To increase it, enable two-factor authentication. In order to increase the withdrawal limit, as well as increase the level of account protection, you need to activate the 2FA option.

    Account security is the user's responsibility first and foremost.

    Step-by-step instructions on how to enable two-factor authentication:

    1. Select My account in your Bittrex account;
    2. Click Two-Factor Authentication in the menu on the left;
    3. Download the Google Authenticator app on your mobile device (you can use a different authentication app if you like);
    4. Open Google Authenticator and add new authentication key;
    5. Scan the QR-code using Google Authenticator;
      Enable two-factor authentication
      Enabling 2FA
    6. Enter the 6-digit code provided by Google Authenticator → Enable 2FA.
      Input 6 digit code
      Entering a 6-digit code

    After this step, check your email to confirm the two-factor authentication. Click the Enable 2FA button in the email from Bittrex Global to complete the setup.

    The account is registered. What’s next?

    Before you can trade on the exchange and use the available instruments, you need to top up your balance.

    Available deposit and withdrawal methods

    The crypto exchange offers several options on how to fund your account:

    • 1st way: deposit with cryptocurrencies;
    • 2nd way: deposit with fiat (USD or EUR) via credit card or bank transfer.

    Cryptocurrency deposit:

    1. Go to your personal account and select Holdings in the upper right corner of the page;
      User Assets
      User’s assets
    2. Specify the required cryptocurrency in the Balances tab and click Deposit;
      Exchange Deposit
      Depositing on the exchange
    3. Create an exchange wallet for the currency you want to fund up your account with (eg USDT). To do this, click the Generate new wallet address button;
      USDT deposit
      USDT wallet topping up
    4. Copy the received USDT deposit address and transfer funds from your personal crypto wallet to it.
    Be aware some coins on Bittrex have minimum amount for depositing. Therefore, the transfer amount must not be less than the specified value.
    Minimum deposit amount
    Minimum amount of transfer

    Account replenishment by bank card:

    1. Select Credit/Debit Card in the Holdings tab on the right side of your personal account;
      Deposit by credit card
      Depositing by a credit card
    2. Specify the currency in the next window (USD or EUR);
      Select fiat to enter
      Selecting fiat currency to transfer
    3. Enter the amount of crypto you want to transfer to your Bittrex account in the new window, and click the Enter card info next button;
      Map entry
      Entering card holder’s data
    4. Next, enter the data of the credit card you are paying with and click Pay.
    The last step is to confirm the transaction through the 3D-Secure service (an additional security protocol for transaction authentication).

    Trading conditions and instruments available on Bittrex

    Let analyze in detail the trading opportunities that Bittrex offers to users.

    Buy crypto

    For a quick buying of cryptocurrency with a bank card:

    1. Select Instant Buy anf Sell in your account,;
      Bittrex Cryptocurrency Quick Buy
      Buying cryptocurrency on Bittrex
    2. Fill in the Buy now form: specify cryptocurrency you want to buy and fiat you pay it with;
    3. Specify payment method → enter card info;
      Bitcoin Quick Buy with USD
      Buying bitcoin with USD
    4. Enter card details and other requested information in the new window;
    5. Verify all data and complete the exchange.

    Spot market

    Bittrex focuses on the classic – spot trading. To start trading on the Bittrex spot market select Markets from the main menu.

    Bittrex Spot Market Access
    Access to Bittrex spot market

    Staking

    The exchange offers to earn extra crypto by staking Сardano (ADA). To do this, select Holdings → Earn Rewards → Start Earning Rewards.

    Bittrex Staking
    Staking on Bittrex

    Commissions and limits

    Commission for account replenishment:

    • Cryptocurrency — 0%;
    • By bank cards — 3% of the transfer amount;
    • Bank transfer — 0%.

    Trading commission: 0.25% for all market participants. Withdrawal fees: depends on the coin to be withdrawn.

    Bittrex trading fees are slightly higher than on other exchanges. Moreover, there is no difference between makers and takers, and there are no discounts for large trading volumes.

    How to trade on the Bittrex cryptocurrency exchange

    Instructions on how to buy or sell an asset on the Bittrex spot market are below:

    1. Activate the Markets tab in the main menu;
      Bittrex Spot Market Access
      Entering Bittrex spot market
    2. Select a trading instrument (eg USDT-BTC) and click Trade USDT-BTC. After that, you will find yourself in the trading terminal;
      Select currency pair
      Selecting a trading pair
    3. Fill in the Buy form to buy: specify order type and other data depending on the order (the trading interface is standard: buy/sell order creation form is to the right of the chart);
    4. Click Place buy order.
      Order to buy BTC for USDT on spot Bittrex Market
      Buying BTC for USDT on Bittrex
    There are 6 order types available for trading on the Bittrex spot market: Market, Limit, Stop Limit, Trailing, OCO, Ladder Limit.

    Mobile Application

    Crypto exchange Bittrex has its own mobile app for Android and iOS devices. By installing it on your phone, you can get full access to the functionality of the exchange wherever you are.

    You can find download links on the official website of exchange.

    Reviews

    It is important to note that you need to consider not the overall assessment of the service, but directly read the reviews. If the feedback is positive or negative, it should be informative: what did you like/dislike, what are the pros/cons, etc. The content of reviews has nothing to do with the trading platform very often.

    In positive reviews about Bittrex users note:

    • Simple replenishment and withdrawing;
    • An option to buy crypto with a card and bank transfer;
    • Additional earnings on staking.

    Negative ratings of users feature:

    • It’s impossible to use the exchange without verification;
    • High trading fees and no discounts for traders;
    • Accounts blocking.

    Pros and cons

    High liquidity trading platform;
    Up-to-date license available;
    Crypto and fiat deposits;
    Quick purchase of cryptocurrencies from card or bank transfer;
    Extensive opportunities for trading in the spot market;
    6 order types;
    API support;
    Security is a priority.
    Input limits for some coins;
    Trading fees are higher than average market commission;
    No discounts on commission for large trading volumes;
    No margin trading;
    No farming, liquidity pools and other investment tools;
    Complaints from users about blocking accounts.

    FAQ

    What is Bittrex?
    Bittrex is a cryptocurrency exchange focused on classic spot trading, with mandatory KYC verification and a high level of security.
    Can Bittrex be trusted?
    Bittrex is positioned as one of the most secure trading platforms in the world. No cases of scam, account hacking or manipulation by the exchange owners have been identified.
    How to trade on Bittrex?
    The exchange offers users access to the classic spot market. Select Markets in the main menu and go to the trading terminal.
    How can I make a deposit on the Bittrex exchange?
    Crypto exchange offers two options on how to fund your account:

    • With cryptocurrency;
    • With fiat currencies by credit card or bank transfer.

    We have described in details how to make a deposit in cryptocurrency and with a bank card in the section Available methods of depositing and withdrawing funds.

    How to buy on Bittrex?
    To buy an asset on the Bittrex spot market:

    1. Click Markets in the main menu;
    2. Specify currency pair;
    3. Fill in the buy order creation form → click Buy;
    4. Select order type for the trade and enter other details depending on your choice;
    5. Press the Buy button.

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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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