Bittrex Experience 2021: The Crypto Exchange Test
10 Stars
We present our Bittrex experience. What does the crypto exchange offer in the test, how high are the fees and is the offer secure? You can find the answers in our review.
Bittrex has made a name for itself as a crypto exchange and is characterised by a very large selection of cryptocurrencies. More than 200 cryptocurrencies can be traded on the exchange. In the test, we will look at the Bittrex experience and other important information.
But what else does the provider have to offer its users and what Bittrex experiences can be made with the platform?
How high are the Bittrex fees, is it really a reputable and safe provider, which Bittrex alternative is recommended and all other important questions are now answered in this Bittrex review.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
Advantages and disadvantages of Bittrex at a glance
The Bittrex fees are, as the provider claims, extremely favourable. Bittrex accepts the euro and other FIAT currencies as means of payment. With a selection of over 200 cryptocurrencies, Bittrex also proves to be a serious exchange on the market.
In terms of fees, Bittrex is not the cheapest but one of the most transparent. Bittrex has a fixed trading fee of 0.20% on all trades. However, Bittrex is aimed exclusively at the English-speaking world and so its services are only available in English. In addition, Bittrex is not subject to EU regulations in terms of security standards, hacker attacks and other regulations.
Bittrex Review - The Offer
The Bittrex Exchange was founded in 2013 by former Microsoft employees and is based in Las Vegas. The provider has a portfolio of over 200 coins, which includes various majors as well as many unknown coins, as our Bittrex review shows. Experienced traders will like this offer. Those who are new to crypto trading will probably focus on the big known coins. The platform is web-based and does not require a software download, which is a positive factor in the Bittrex rating.
The Bittrex broker's offer also includes a chart display, which shows the prices of the digital currencies in tables. This allows you to view all price developments in the live charts around the clock. Especially active investors will benefit from these useful tools. Analyses of the chart development in the appropriate time frame are also possible. According to the Bittrex experience, a total of 9 different time frames can be displayed, whereby the smallest time frame is one minute and the largest is one month. This way, you can easily find the right moment to exit or enter Bittrex bitcoin trading.
The Bittrex cryptocurrencies
When looking for an exchange for cryptocurrencies, the offer naturally plays a very big role. This is where Bittrex proves to be one of the strongest providers. Almost 300 different cryptocurrencies can be found here. Here is a small excerpt of the available coins - sorted in alphabetical order:
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
The BitMEX cryptocurrencies
A crypto exchange platform is all about the tradable cryptocurrencies. However, BitMEX seems to focus on bitcoin. However, one does not have the possibility to buy or sell coins of the popular currency, but one can only make deposits with bitcoins.
In addition, you can trade CFDs of various assets. The available digital currencies are listed here:
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And also over 250 other cryptocurrencies a complete listing can be found here: List of All Available Cryptos on Bittrex.
Step by step guide to trading on Bittrex
If one wants to access Bittrex crypto trading, registration is required. Bittrex registration is quick and easy. However, the whole registration process is done in English, as the Bittrex test shows, as the platform is unfortunately not available in German. Since the Bittrex registration process is almost self-explanatory, there should be no problems here. The individual steps of the Bittrex login are explained below.
Step 1: Registration
Registration follows the usual procedure. First you create your account. To do this, select whether you use Bittrex privately (Personal) or for business (Corporate). Then you enter your e-mail address and a password. Optionally, you can specify who recommended you. Then click on the button "Create Account" to create the account. Within a few seconds you should have received a message at the address you entered. Now click on the link in this mail to confirm your e-mail address. You will then be taken to the next page where you can enter your personal data.
Step 2: Personal data
Here you enter your personal data. After you have filled in everything click on "Continue".
Step 3: Verification
Bittrex customers enjoy anonymity, but it should be noted that completely anonymous trading is not possible, as the broker has to comply with the applicable money laundering laws and basic personal data of the users are entered during the registration process. You can choose between two different user accounts. On the one hand, there is the basic account, with which one can withdraw up to 3 Bitcoin as soon as one has completed the two-factor authentication (2FA). If you do not complete this authentication, the payout is limited to one bitcoin. In order to verify oneself, it is necessary to provide one's name, address and date of birth.
The extended user account allows a daily payout of up to 100 Bitcoin. For this, the 2FA must be completed. For this, one must submit a copy of an identification document. The verification of this data is done by an external service provider and can take a few days.
Step 4: The deposit
After registering with Bittrex, you can log in to Bittrex and access your wallet. You can then choose to deposit Bitcoin or other cryptocurrencies directly. It is also possible to generate additional deposit addresses. To do this, simply click on the icon with the "+". To make a withdrawal, click on the "-".
After you have deposited your cryptocurrencies or normal money, you can start trading.
In summary, we can say that we feel the sign-up process to purchase is solid. However, it bothers us that there is no German translation and so the entire site is in English. Some users have also told us that there were problems during the registration process. For example, personal data had to be entered twice because the server hung up.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
CFD or direct trading with Bittrex?
The Bittrex exchange allows the purchase of cryptocurrencies and has its own wallet so that customers can store their coins. But in the past, crypto exchanges have repeatedly fallen victim to hacker attacks, so it is advisable to keep your coins safe on your own wallet. Those who don't fancy the extra hassle should consider switching from direct Bittrex crypto trading to crypto CFDs. Trading with crypto CFDs is particularly simple with our test winner, and you don't need an extra wallet. Unlike direct trading with digital currencies, with crypto CFDs you only speculate on the price trend of a currency and do not have to "physically" own it. It is particularly practical that you can easily switch to other cryptocurrencies if the price trend is worse. You therefore remain flexible and can react to spontaneous market developments at any time.
Bittrex payment methods
To make a deposit, fiat currencies such as euros or USD are available. In order to buy cryptocurrencies at Bittrex, you can also first exchange a fiat currency into coins.
As an alternative, we particularly recommend eToro, one of the largest crypto exchanges worldwide. Cryptocurrencies are bought at our test winner either as direct coins or as CFDs with leverage. So you can choose whether you buy direct coins with euros or derivatives with our test winner. When trading with crypto CFDs, you only speculate on the price of the derivative. eToro was the test winner in our crypto provider test and offers the possibility to make deposits with fiat currencies.
To make a withdrawal at Bittrex, you can use the same wallet that was used for the deposit. It is important to note that at Bittrex Bitcoins can only be paid out to a BTC wallet and ETH can only be paid out to an ETH wallet. Withdrawals can optionally be secured with two-factor authentication for greater security. However, this requires the entry of an additional code, otherwise a withdrawal is not possible. Bittrex experiences show that the amount arrives in your wallet after a short time. Alternatively, our test winner stands out here again, which offers an integrated wallet to which you can have your cryptocurrencies (no CFDs) transferred. With this wallet, you can finally make purchases or send money conveniently.
Payment method | yes/no |
|---|---|
Credit cards | yes |
Paypal | no |
Instant bank transfer | no |
Skrill | no |
Neteller | no |
Paysafecard | no |
Bank Transfer | no |
Cryptocurrency | yes |
Bittrex experience: Security
There are so many different crypto providers on the market that it is easy to lose track of them and no longer be able to distinguish quality offers from the black sheep. Trading with cryptocurrencies often involves large sums of money, so you should not take any risks and should take a close look at a broker before registering. Only those who carry out precise analyses and consult independently conducted provider tests, such as our Bittrex test, can be sure that they do not have to fear a Bittrex scam. We have thoroughly examined the Bittrex Exchange with regard to its seriousness and can assure you that the provider operates in a safe manner.
This is indicated by the official licence from the USA, which guarantees that Bittrex is subject to regular controls by the competent authorities. All transactions are monitored and, if necessary, the platform is regulated. In view of this, Bittrex fraud can definitely be ruled out. The Bittrex Exchange also employs all the usual security standards and works with 2-factor authentication, which only allows the owner of the user account to access it. In addition, SSL encryption is used, which protects sensitive user data from unauthorised third-party access and hacker attacks.
The Bittrex app
The trend towards mobile crypto trading is on the rise, with more and more traders preferring the brokers' mobile offerings to the desktop version. The Bittrex broker has also taken note of this development and offers its customers a mobile Bittrex alternative. This is available as a web version, so it is not necessary to download a Bittrex app in order to trade cryptocurrencies on the go with a smartphone or tablet. To access the mobile offer, you navigate to the Bittrex Exchange website in your browser and can start trading within a few moments. According to the Bittrex experience, the mobile Bittrex app has no disadvantages compared to the desktop version, which is a positive factor in this Bittrex review.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
Bittrex fees
The Bittrex fees amount to a uniform 0.20 percent. If you buy 40 Bitcoins, for example, you have to expect a Bittrex fee of 0.1 Bitcoins as a deduction. Unlike many crypto exchanges, there is no graduation according to transaction size. The costs are therefore manageable with the flat Bittrex fee of 0.20 per cent, which makes Bittrex particularly interesting for small investors. Large investors who transfer large sums of cryptocurrencies can benefit from smaller fees. However, this only applies to people who trade with a monthly volume of over €50,000. It is therefore important to calculate exactly how high the Bittrex fees will be before investing and gaining your first Bittrex experience. Withdrawals incur additional Bittrex fees, as Bittrex has to pay a network fee on the transactions. The minimum amount for withdrawals is 10 dollars.
Fee type | costs |
|---|---|
Transaction fees | 0.20% |
€ 50,000 + | 0.18% |
€ 1,000,000 + | 0.15% |
Is Bittrex a scam?
If you take into account the various results of the Bittrex test and the testimonials that customers have sent us, you will see that it cannot be a scam. Bittrex is a trustworthy site - you can buy or sell coins through Bittrex without having to worry about being ripped off by the provider.
We can say with certainty: Bittrex is not a scam.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
Bittrex experience: Customer service
A quality broker is characterised by a competent customer service, which can be reached quickly in case of questions and problems and provides help and advice. Bittrex support can be reached by email, unfortunately no other contact options are offered. Whereas with other brokers you can count on quick feedback by phone or live chat, you unfortunately have to cut back on Bittrex support. You have to wait a few hours for a response by email, as the Bittrex experience shows.
The Bittrex employees also do not speak German, which is why you only receive help in English. An additional option is to contact Bittrex support via the social media channels Twitter, Facebook or Slack, where you can expect a quicker response.
Furthermore, an extensive help section can be found on the platform, which reliably answers all general questions. So anyone who needs quick answers should first take a look at the FAQ section, in many cases this offers an alternative to email contact.
Contact way | yes/no |
|---|---|
phone | +44 20 3868 9628 |
Live chat | no |
contact form | yes |
FAQs | yes |
Bittrex - Conclusion
The Bittrex review shows that the broker takes the security of its customers very seriously. 2-factor authentication and SSL encryption guarantee that users' sensitive data is protected from third-party access. So there is no need to fear Bittrex fraud, as our Bittrex test shows. Bittrex scores with a wide selection of cryptocurrencies, which is also available via a mobile Bittrex app, so that every type of investor can find the right offer.
Bittrex shows itself to be an innovative platform and offers well-known cryptocurrencies as well as unknown coins. We have to make concessions in the Bittrex rating because you first have to convert a fiat currency into coins in order to be able to buy cryptocurrencies at Bittrex. For this, one has to create a user account with another exchange that allows deposits to be processed with fiat currencies. In addition, other brokers provide the option to use different payment providers, which is unfortunately not the case with Bittrex. Payments by credit card, bank transfer or Neteller are not possible.
Unfortunately, there is no demo account that can be used to test the Bittrex crypto exchange without obligation and free of charge. Traders have to bet their own capital directly. So those who are new to the trading world should analyse the prices carefully and get a precise overview of the markets offered. For traders with little experience, it is recommended to fall back on a Bittrex alternative.
We can recommend our test winner at this point, as this crypto provider offers its users a demo account to gain experience. It also offers the possibility of making deposits with fiat currencies, among other things PayPal is available as a payment method, which makes using the platform particularly attractive.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
FAQ
The provider is a crypto exchange where cryptocurrencies can be bought and sold.
In our test, Bittrex was convincing. The diverse trading options and the excellent customer support attract many customers, most of whom are very satisfied with the provider.
The amount of your own investment should depend on your own liquidity, the chosen cryptocurrency and your own risk tolerance. In general, you should never invest money that you actually need elsewhere, as profits can never be guaranteed.
Here, too, the platform is convincing. Payouts are processed very quickly and are in your account within a few minutes to 2 working days, depending on the selected payout method.
You should always know what you are investing in. Cryptocurrencies are highly volatile, so you should first familiarise yourself with the selected coin in detail. If you have the necessary know-how, as well as the occasional bit of luck, then nothing stands in the way of early profits.
