When it comes to fees, Bittrex has chosen an easy-to-understand route. Here the fees are not determined on the basis of volumes or values, but are calculated as a flat rate. The fee rate is always 0.25 percent. Compared to the competition, this value is quite decent, even if some providers have even lower fees. Nonetheless, this fee plan is very decent and clear. Every user can immediately calculate for himself which fees have to be planned and can accordingly understand immediately how high his return will be.
Bittrex may be a fairly experienced provider for trading Bitcoins and other cryptocurrencies. The platform is predicated within the us and is even officially licensed there by the relevant authorities. This successively means users from the USA also can trade here. consistent with our Bittrex experience, the main target of the provider is totally on diversity, which may be seen from quite 200 tradable coins. In our test report below, we would like to find out whether the individual quality might fall by the wayside.
In our Bittrex experience, the most attraction of the platform is that the great diversity within the portfolio. Additionally, to Bitcoin, there are quite 200 other coins within the portfolio, in order that additionally to varied majors, unknown minor coins also are traded. Experienced traders especially should enjoy this, newcomers will probably consider the “big ones” anyway. The provider trades on a web-based platform that doesn’t require any additional software to be used. Nonetheless, rock bottom line is that trading is extremely easy, more details will follow later.
Deposits and withdrawals
According to our Bittrex experience, only the wallets of the varied coins can currently be used for payments to the trading account. After all: the proper wallets are available within the payment area for all tradable coins. Deposits with currencies like the euro or US dollar aren’t possible. just in case of doubt, this suggests for a few users that they first need to exchange their fiat currencies for coins before the deposit are often made to the trading account. The deposited amounts are in fact credited immediately, there’s no risk of fraud or the likes of.
If users want to form a withdrawal from their account, the well-known wallets for deposits are often used again. Of course, the BTC can only be paid bent a BTC wallet. Just like, for instance, the LTC only on an LTC wallet. Whoever disregards this risk permanently losing its existence. it’s also important that the payout are often secured with two-factor authentication. Anyone who opts for now enjoys a significantly higher level of security. However, this extra key also means entering another code, without which the payouts will otherwise not be administered. Problems or errors don’t occur with the payouts,
Security and Regulation
Bittrex is predicated within the USA and is one among the few exchanges to supply its services within the USA. The provider has a politician license for this, which is amid an intensive control by the US authorities. Every user can therefore believe the law-abiding work of the service provider and rule out Bittrex fraud at any time.
In addition, the provider uses two-factor authentication, with which certain functions, like paying out, are doubly secured. A little drawback during this case, however, is that the incontrovertible fact that this extra protection has got to be set first and isn’t available “by default”. Nonetheless, the provider doesn’t need to be blamed for security, especially since all user data is protected with SSL encryption. There’s therefore no danger when trading via Bittrex.
The provider doesn’t provide a live chat or a telephone hotline for discussions with customer support. The strongest alternative is an e-mail address to which customers can send their questions or suggestions at any time. It takes a couple of hours for the solution to be received, and at an equivalent time the solution is usually only delivered in English. But if you’re a minimum of a touch conversant in the language, you should not have any problems here. By the way: If you prefer to require it a touch more classic, you’ll contact the provider by post. The address is often found directly on the web site. Another very interesting approach is support via Facebook, Twitter or Slack, where, within the best case, you’ll expect a way faster response than email.
Despite the great design, not every user wants to and can’t act permanently reception within the front room. For this very reason, a mobile alternative is out there called the Bittrex app. However, it’s immediately noticeable that it’s not a downloadable download app, but an internet version. In detail, this suggests that no additional software has got to be loaded onto the smartphone or tablet so as to trade. Instead, users simply call up the provider’s website and may start trading within a couple of moments. consistent with our Bittrex experience, there are not any major disadvantages, in order that we will definitely speak of a true alternative.
All Bitcoin Exchanges try to draw in attention as much as possible in the highly competitive industry. Bittrex relies totally on diversity and presents all users with an outstandingly large selection of coins. this may only be of limited relevance for newbies, but the experienced traders are probably rubbing their hands together now. Despite the big variety, consistent with our Bittrex experience, the provider has managed to stay the overview on the web site alright. Many graphics and short texts, reading is straightforward, at an equivalent time the menu items are all clearly visible at the highest right of the screen. we’ve no cause for complaint, here and there there’s only a small little bit of potential for improvement.