1 Level
1 Review
0 Karma
Review on Bittrex by John Thor
Bittrex is a regulated crypto exchange that is based in the United States and was formed in 2014 out of Las Vegas, Nevada.
Although Bittrex does not currently enable leverage, the company has stated that they expect to implement a leverage functionality later this year or in the beginning of 2018. The maximum withdrawal amount allowed for users with basic accounts is 1 BTC, while enhanced account holders who have been verified can withdraw up to $50,000 at any one time. Overall, Bittrex is a great cryptocurrency exchange for seasoned arbitrageurs, but isn’t the most ideal option for professional daytraders due to the limited amount of immediate liquidity and the inability to trade with margin. But, as Bittrex has witnessed a staggering rise in new accounts in 2017, the platform’s liquidity woes may soon come to an end.
Pros
- Anonymous function – no ID required for basic accounts
- No minimum deposit
- Utilizes 2-factor-authentication
- Quick and simple account setup
- Makes 1-minute price charts available
- Perfect platform for those doing arbitrage
- Flawless data connections – service interruptions are rare
Cons
- No app support
- Only email and ticket customer support
- Do not accept USD or any fiat currencies
- No margin available
- Low liquidity can be a problem from time to time
- No dollar value assigned to cryptocurrencies
- Advanced user interface (not beginner friendly)
- High trading fees of 0.25%
