Review on Bittrex by Umut ERDOGAN
Good Luck Bittrex !
What's Good on Bittrex?
Fees: Bittrex has a fixed fee of 0.25% for each trade. Although it is slightly higher than average, it makes the job very easy for beginners. Having a single fee for all transactions makes it easy to calculate how much you spend.
Diversity: Bittrex's cryptocurrency options are fantastic (> 190). It offers users the opportunity to trade both with the oldest coins and newer coins such as Loopring and Tron. Bittrex examines which currencies are listed every day and adds new coins frequently. To compare, there are about 80 cryptocurrencies on the Poloniex exchange.
Verification: This is the process that allows the exchange to decide whether to trade or not. Bittrex aims to get as little user information as possible to protect the platform. It uses a service called Jumio that uses local records. Jumio can verify more than 100 million people in more than 200 countries.
Speed: Bittrex was created using elastic computing. In other words, the platform makes purchases and sales the moment it enters the transaction.
What's Bad on Bittrex?
Trading in fiat currency: Bittrex does not currently offer its users the opportunity to trade in fiat currencies. In a recent podcast, Bill Shihare stated that users will soon be able to use US dollars for trading. Until then, users have to buy Bitcoin, Tether or Ethereum before they can start trading. Other exchanges such as Coinbase and Kraken offer their users the opportunity to trade with cryptocurrencies.
Accessibility: While Bittrex prides itself as a secure platform, there is also a downside to it. Bittrex might even be a little too safe! Some users cannot log into their own accounts. That's why Bittrex's user authentication process is blamed. Bittrex is working towards making it safe and accessible.
Customer Service: Some users are unhappy with the way the platform handles complaints. Some users have waited weeks for a response. Bittrex apologized for taking the long time to resolve the issues.
Pump and Dump Scams: Bittrex offers its users many different cryptocurrencies. Sometimes new cryptocurrencies are used for pump and dump fraud.
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What you can do with Bittrex
- Market orders
- Limit orders
- Stop orders
- Good-Til-Cancel orders
- Immediate-Or-Cancellation Order
- Fill-Or-Kill Order
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Good Luck Bittrex...
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Pros
- There are Maximum Security principles.
- Quick withdrawals and transactions
- Supports Around 150 Crypto Money In Different Markets
Cons
- Less Coins
- There is only Crypto Money Transfer. No Cash Deposits and Withdrawals
- There are some security vulnerabilities, albeit a small number.
- Not intended for Novice Users.
