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We will introduce trading on Bittrex by describing the interface, how to navigate through the site and, the process itself. The walkthrough has been divided into sections, so that it becomes easier for your understanding: Signing up on Bittrex is very basic and easy.
If you never want your name beeing connected to a trading platform, it looks like you could sign up with fake data, an anonymous e-mail only created for this purpose and trade within the basic account, which means deposits and withdrawals in Cryptocurrencies only and with limitations concerning the amounts.
The dashboard is very simplified, which can also make it slightly confusing. All your basics such as Wallet, Settings and Orders sit on the upper right. And in the middle you will be able to view price change of most of the currency pairs on the site in real-time:. This is most of what you will see:. Bittrex offers a market order and a really convenient conditional order types. You can browse your open and completed orders under the menu of the same name, and besides looking at them, you are given the chance of canceling any unfilled position.
This page implements basic filtering to search for orders as your history gets populated, and a dropdown to control the number of results shown per page.
There is also no margin trading option — but they are planning a site relaunch in the end of with new functions and margin trading encluded. Trading fees are 0.
Besides some minor complaints about inefficient customer service and withdrawals, comments about Bittrex are mostly positive as seen, for example, here. Ratings on the web are slightly positive, often spanning in the 3. Bittrex employs the most reliable security technologies available. Whitelisting of addresses is also available, for an extra layer of security which is a very nice option of them to add.
Complaints against their security are very rare to non-existant. The last and possibly only active complaint from Bittrex. User accounts that were using 2fa google authenticator were not vulnerable. In the past their main focus was how quick they could vet and add new altcoins to their platform.
In the end, the exchange did have a very high turnover of crypto currencies, while also offering some of the shady scamcoins the opportunity to also advertise on the bittrex platform, leading some to accuse it of enticing or giving tacit approval to pump and dump schemes that have always eroded confidence in the crypto currency ecosystem as a whole.
Apart from the occasional they are United States based, which has always added to an overall positive sentiment for their integrity as a whole. FAQ for submitting new coins by coin developers: There is no interactive chatroom, such as that of poloniex. Years ago, at least pump and dumps used to be announced in the chatroom, nowadays — exchanges have mostly stood against it.
Bittrex is a No distraction, pure trading zone. Bittrex uses Zendesk for their support, and although every exchange has been experiencing backlogs , you should expect bittrex support to answer most of your support tickets within a week, often faster. Their facebook and their twitter is how you can also get current updates from their team if any issues arise:.
Beginners will find a decent liquidity without too many unforeseen counter-party risks. Plus altcoin liquidity is sometimes comparable ,or in some cases higher than other big altcoin exchanges and that trend should continue to follow through, as bittrex is becoming less of a backup exchange and more of a mainstream option for altcoin traders.
Liquidity has always been their biggest struggle point, although with the recent surge of visitors and new accounts in , liquidity may soon be much less of an issue. Often the price for bitcoin is slightly lower than your average exchanges, so you can arbitrage between exchanges just like it was possible during the mtgox debacle, so every trader, not just arbitrageurs, must take that into account. Ultimately their strong focus on security will always make Bittrex a key competitor on the market as that is what sets them apart, and will make them a winner in this space if they keep to their pledge.
It is a cryptocurrency trading platform created by security professionals with the purpose and pledge of delivering the fastest and most secure trading platform available. Bittrex LLC S. Current Top Broker Deals: No margin trading the liquidity is sometimes way below average, sometimes you can get execution after waiting for over 10 minutes trading fees are solid 0.