Review on Bittrex by Silviani Lulu
Is Bittrex Safe?
Is Bittrex Safe?
The exchange is very safe, with all the procedures put in place by the founders to make sure it was as safe as it could be.
In relation to this, they use a multi-wallet strategy which ensures between 80-90% of funds are stored off-line.
There is also the 2-factor authentication required for all withdrawals and any API usage.
Final Verdict
Traders often use exchanges depending on how fast their transaction times are. This can be limited by the network, but Bittrex do all they can to make their side as fast as possible.
With the use of elastic computing techniques, the Coinbase to Bittrex transfer time can be in the region of 30-minutes up to a maximum of an hour.
Bittrex comes with high-security features but is still easy to use. With over 140+ cryptocurrencies to trade against it can be an ideal place where to trade from. For basic trades, the firm has simplified the how to sell on Bittrex.
With a quick visit to the order book on the dashboard, you can see all of the buy’ bid and sell/ ask orders for all other users.
This is one example of how this crypto exchange has careful thought of all sides of the process with security being at the forefront.
Overall, the only real downsides to trading on Bittrex are the possible higher fee and the lack of Fiat options for trading and making purchases.
Aside from that, it is a robust exchange, and it is easy to see why they are ranked so highly.
Pros
- -A strong and enhanced level of security. -A fast signup and verification process. -A great exchange platform for those people doing arbitrage trading.
Cons
- -A fixed trade fee (0.25% per trade) with no discount for traders wanting to exchange a higher number of coins. -Fluctuating liquidity, sometimes below average. During these periods transaction processing can take up to 10 minutes. -Margin trading not allowed. A big minus for users with smaller accounts who want to trade bigger amounts.
