Comprehensive Bittrex Exchange Review
The surging interest in cryptocurrency trading has led to the establishment of numerous platforms offering these services.
Bittrex is one such platform that has caught the attention of many traders globally. Traders Union revealed a comprehensive Bittrex exchange review that explores everything from trading conditions to fees, helping traders understand the true worth of this platform.
What is Bittrex?
This Bittrex exchange review revealed what Bittrex is. According to TU experts, Bittrex is a high-risk cryptocurrency exchange with an overall score of 2.4 in the TU Rating. Unfortunately, this platform ranks 156 out of 198 companies, indicating that it has not performed as well as many of its competitors.
Bittrex provides both basic and advanced features for trading in the global cryptocurrency markets, with a convenient and intuitive trading terminal. Bittrex, however, clearly targets active trading, as it doesn’t offer investment programs, and the referral program yields minimal returns. There are no demo accounts or tutorials on the exchange, making it less suitable for beginners.
Advantages and disadvantages of Bittrex
TU experts have identified several advantages and disadvantages associated with Bittrex:
Advantages:
- The convenient and functional interface of the trading application.
- Supports trading through third-party terminals.
- Offers the most popular cryptocurrencies.
- High level of data and asset security.
- No restrictions on regions and trading strategies.
- High-speed deposits and withdrawals.
- Algorithmic trading via API is available.
Disadvantages:
- No investment programs.
- No training materials for beginners.
- Limited fiat representation, only Euros and US Dollars.
Evaluation of the most influential parameters of Bittrex
Based on TU experts’ evaluation, the following parameters for Bittrex are:
- User Satisfaction: 1.18/10
- Regulation and Safety: 3.38/10
- Commissions and Fees: 3.02/10
- Variety of Instruments: 2.8/10
- Brand Popularity: 2.96/10
- Customer Support Work: 3.32/10
- Education: 3.54/10
Trading conditions for Bittrex users
Bittrex does not limit the minimum deposit significantly, and users regulate their financial activities independently. There is no leverage for trading. Technical support operates 24/7 but can be accessed only by email or through the ticket system. Users can also communicate with the exchange through large social platforms like Facebook. The proprietary platform supports both personal and corporate accounts.
Bittrex commissions & fees
TU experts report that Bittrex calculates commissions and fees based on the user’s trading level, which is determined by the volume of trades over the last 30 days. There are nine trading levels with commissions ranging from 0.75% at the first level (trading volume up to $5,000) to 0.0% for makers and 0.05% for takers at the ninth level (trading volume of $100,000,000).
Conclusion
Though Bittrex provides a platform for cryptocurrency trading, it comes with its own challenges. Traders Union experts have identified several issues like the high-risk nature, lack of educational materials, and limited fiat representation. Therefore, it’s crucial for users to weigh these factors before deciding on this platform. For more insights, visit Traders Union’s official website.
