What is Bittrex About?
You are here because you want to know how secure Bittrex platform is and whether you can make good money on Bittrex. Bittrex.com has been operating since the year 2014. It operates in the United States.
The site allows you to trade crypto-currencies. Crypto-currencies have become a global phenomenon. It is a form of digital currency that can be exchanged between traders. The first known digital currency was the bitcoin. You can trade Bitcoins, Ethereum, and other forms of digital currencies on Bittrex.
There are many knowledgeable and experienced people behind the Bittrex site. Bill Shihara is the co-founder and CEO. Richie Lai has experience in network security, malware, and internet crimes. Rami Kawach worked for Qualys. He was the Director of Engineering. Ryan Hentz is a contractor, and he helps with the operations.
This is a review of all about Bittrex Exchange and what Bittrex is all about. You will be watching three Youtube video of a complete tutorial guide on how to use Bittrex Exchange, how to secure your Bittrex account and finally on how to make huge money trading on Bittrex exchange.
- The security is top-notch! Your details will be in safe hands on Bittrex. Your coins are secure here!
- The wallet is free. You do not have to pay anything to create a wallet.
- Faster withdrawals and deposits
- No crossing or delay of processing of the trades
- Easy and complete REST API
Benefits of Using Bittrex Exchange
What does a trader look for in a platform? They look for security! The verification process may be long, but it is worth it.
You can become wealthy by trading the digital currencies on this platform. Making money on this site is secure. It is the ideal exchange platform.
There are multiple numbers of wallets available on this site. All you need to do is buy bitcoins at a low price and sell them for a higher price.
Is Bittrex Restricted to Specific Countries or Not?
Bittrex is available for the whole world! It is accessible to Indian citizens as well. However, the document requirements will be different in each country.
Although it is a US-based broker, there are some parts in the United States where Bittrex does not work. Some of the services available on Bittrex are not available to 29 states.
How to Use Bittrex Exchange
It is time to join Bittrex! How to get started?
You would need to login or sign up by using your email address and password.
Verifying your email address is essential.
Click on the wallet page and deposit cryptocurrency in your account. You would need to use the search bar to find the cryptocurrency that you want to deposit.
You would see a deposit box in front of you which will pop up! You would need to create an address. When you can see the address, you can deposit the amount and get started!
YouTube Video of Complete Tutorial Guide of Bittrex Exchange
Type of Account You Can Open on Bittrex Exchange
- You need to submit name, address, and your DOB (Date of Birth).
- The details are verified through the public records.
- In case this process fails, you would need to opt for an enhanced account.
2. Basic Account
- You would need to provide scans of identification
- You would need to submit selfies
- These will be verified by the JUMIO service provider
- The good part about enhanced accounts is that they can withdraw 100 BTC in a day.
Do I Recommend Bittrex?
As a novice, I was trying to find sites that offer a trade of cryptocurrencies. The prime worry of learners is that they wish to know whether the site is legit or not.
Bittrex claims that it is the next generation in the cryptocurrency trading business. Is it true? I used Bittrex and liked the fact that the team has years of expertise in the field. Bill Shihara is the CEO and co-founder of Bittrex.
He has several years of expertise in the area as he worked for Microsoft Windows Operating system for 11 years. He also worked as a Security engineer for Blackberry and Amazon. There are many other people behind the success of Bittrex.
Would I recommend Bittrex? Absolutely! It is a secure platform, and I appreciate the faster withdrawals and deposits. If you want a reliable platform for currency exchange, then Bittrex would be a wise choice!
Payment Method Supported by Bittrex
To deposit the crypto-currency whether it is bitcoins, siacoin, or dash, you would need to click on the ‘wallets’ option. You can find it on the upper right side of the page.
You would need to search for the wallet and select New Address. Once you decide the new address, it will generate the address. Now you would be allowed to send cryptocurrency to this address.
What crypto-currencies can you buy/sell? This is the most common question that a trader has! You can trade the following crypto-currencies –
YouTube Video on How to Secure Your Bittrex Exchange Account
Fees Charge on Bittrex
There is a straightforward fee structure on Bittrex. When you are trading, there is a small commission that the site takes. It is 0.25% commission that one needs to pay! You would be happy to know that there is no withdrawal or deposit fee.
If you want the paper copies of the electronic correspondence, then you can get it by paying a fee of US $10.
Withdrawals and deposits are quick on this site! The unverified accounts can withdraw only 1BTC per day. While the enhanced ones can withdraw 100 BTC per day, the unverified users do not get this luxury!
Customer Support for Bittrex
The people, who use Bittrex, have complaints regarding the customer support system. The trouble is that the traders have tickets to their problems which are not being resolved.
The support system works through email, but the response is not prompt. This is a serious issue which Bittrex has to work on!
Online and Public Opinion of Bittrex
Bittrex is one of the leading cryptocurrency trading platforms. It has gained popularity and received love from people around the world.
You will be able to see positive reviews of the site on different review sites. People are also talking about Poloniex. Concerning customer support, Bittrex wins because Poloniex does not have a significant customer support team! Bittrex does not have an impress customer support team, but it inevitably wins in this aspect.
Poloniex has a massive trading volume as compared to Bittrex. According to online reviewers, Bittrex wins because there is open communication between the users and the founders. The founders are available on social media. It is a secure platform because the co-founders have a background in network security.
Can You Really Make Money on Bittrex?
There are two types of markets on Bittrex – one is the bitcoin, and the other is USD. The trading fee is just 0.25%. The web-based trading platform has allowed users to make a lot of money.
The only downside is that they do not offer fiat money deposits. This is not good news for the novices as they would have to research trading.
Yes, you can make money on the site as it is a secure trading platform. Multiple altcoins are available on Bittrex. The founding members of Bittrex are open on Social Media, and they update latest events through tweets.
The only thing missing is a mobile application. If Bittrex has a mobile app, it would probably work in their favor.
What I like About Bittrex
- The Security provided to the traders. Security of the traders is the topmost priority of Bittrex!
- Wide range of altcoins available
- Easy to use as the users can navigate easily!
Issues with Bittrex
- Minimal help from customer care team
- The verification process is long
- Withdrawal limit is low for unverified accounts.
Bittrex is for all those, who wish to buy or sell digital currency. If you want to enter the crypto-currency business, you must visit the Bittrex site and join.
It would be wise to do some research before you come to the new field. The website is easy to navigate, and security is top-notch!
This review is for the top-runners in the crypto-currency business and the novices, who want to make money by trading crypto-currencies.
How To Make Money With Bittrex?
Trading crypto-currencies is not an easy job! If everybody knew the art of selling/buying crypto-currency, then everyone would be a trader! There are no middle-men or brokers here! It allows two people to exchange digital currency.
As a novice, you may think that the crypto-currency business is complicated. It is numbers which the traders use as money! How to make money with Bittrex?
Firstly, start with buying some bitcoins. When you have some bitcoins available, you can exchange it. Bittrex is the best exchange platform.
The key here is to buy low and sell high! You can buy a bitcoin for x price and sell it for y price. The rate should be higher! This way you would be able to make money with Bittrex.
YouTube on How to Trade and Make Huge Money with Bittrex Exchange
Alternatives to Bittrex
There are many other sites which offer crypto-currency trading. The traders consider Bittrex to be the best site for selling because it is secure and fast!
There are over 55 other reliable and legitimate Bitcoin and Crypto exchanges platforms online.
Many of them are suitable for big volume exchange. They are the most significant competitors of Bittrex.
My Final Opinion of Bittrex
So, what is your thought of Bittrex? Are you ready to stake your Bitcoin? Do you think you are ready to make huge money on Bittrex?
After using Bittrex and experiencing it first-hand, I would like to summarize it as a decent experience. The good news is that the site offers security. Security is the top-most priority! It is a site which does the job of a wallet.
It is one of the most reliable websites for crypto-currency trading. The customer support team does not get extra brownie points because it is inefficient. The site owners need to work on this and give a better experience to the traders. In a nutshell, it is a good and reliable exchange platform, and i suggest you try it out!
Bittrex at a Glance
Owners: Bill Shihara (CEO and Co-founder)