Bittrex

Bittrex is one of the largest cryptocurrency exchanges in the world, began operating in New York in 2016. Initially, the Bittrex Exchange began to work as a regular exchanger service, but thanks to the efforts of the team and the careful attitude to the money of its customers, Bittrex International is known to everyone in the field of crypto trading now.

The Bittrex exchange allows you to trade almost all known cryptocurrencies. Now it is about 200 coins, and each new one is trying to get on the list. The most popular coins on the exchange are Bitcoin, Ripple, Ethereum, and Cardano. The daily turnover is $ 500,000,000.

Bittrrex International is one of the few exchanges that have remained operating in the United States due to the tough policies of cryptocurrency regulators. The leaders of the platform applied for an official license. Although it is still under consideration, most competitors at that moment decided to change jurisdiction and prohibit US residents from registering and trading on their platform.

A distinctive feature of Bittrex is the team's constant desire to improve the security system. On the one hand, this is a disadvantage for traders who want to be anonymous. But for them, there is a large selection of other platforms. Bittrex is trying to comply with US laws and is, even more, trying to protect the funds of traders. For this, when registering on the platform, it is required to provide all personal information, including the place of residence, as well as for some other countries, attach passport photos with a residence permit.

Registration is slightly different for different countries. For example, Russian citizens can attach an old-style passport. For Ukrainian citizens, the Bittrex exchange requires a biometric passport. Residents of the United States may not pass KYC only if the withdrawal amount does not exceed 3 bitcoins per day. It is worth noting that Bittrex employees or algorithms are not involved in a document or user verification. For these tasks, a third-party service with a good reputation and anonymity is used.

If you plan to withdraw up to 100 BTC, identity confirmation will be required. Also, for security reasons, it is recommended to use two-factor authentication. There was only one situation with the theft of personal data from users. And only those traders who did not attach Google Authenticator to their account, or used a very simple password, were affected.

Among exchanges, Bittrex cannot boast of all available types of trading or an advanced interface. Trade is available only in the USD and BTC markets. In the dollar market, trading is using the USDT. Margin trading is also not yet available. But, as the developers of Bitrex assure, this function is still at the development and testing stage, and soon traders will receive it in their arsenal.

In terms of fees, Bittrex is not much different from most popular exchanges either. 0.25% of the transaction and the blockchain network fee for withdrawing coins. The exchange does not work with fiat currencies, so use Bitcoin to replenish the deposit.

One of the weaknesses of Bittrex is its support service. Complaints are regularly received from many users who either do not receive a solution to their question or wait a very long time for an answer. In the majority of cases, the problems are just efficiency. But this can be explained by a huge user base, and the support department can not cope with the number of applications. Also, a drawback for some traders will be the lack of Russian localization. But the advantages include a user-friendly interface, huge turnover, security, and many available cryptocurrencies, which make the Bittrex platform a leader and a good choice for trading.

Follow the information on this and other cryptocurrency exchanges on the pages of the Neironix.io