1 Level
5 Review
14 Karma
Review on Bittrex by cristian eduard
Platform GOOD, but too strict lately
Bittrex used to be a great platform in the past - easy registration, many coins added frequently and fair fees for trading and coin operations. However, its best feature was that it had multiple tiers for accounts. KYC (Know-Your-Customer) verification was not mandatory for volumes under a certain threshold.
However, that changed and although verification is a compliance-related issue and they are obliged to do it, it seems privacy is absolutely gone. After doing around 2BTC worth of trading, I got asked to provide my source of funds for the cryptocurrency traded and had to provide numberous receipts and blockchain transactions to prove my funds are truly mine.
While I had to deal with this situation, my remaining crypto holdings were frozen, a situation I did not enjoy at all.
Pros
- Ease of use
- Broad range of markets and cryptocurrencies
- Fast deposits and withdrawals
- Acceptable fees
Cons
- You can only trade after verifying your identity
- They may ask for additional documents and source of funds at any time
