There are many crypto exchanges you must have preferred for trading cryptocurrencies including Bitcoin. Being a popular cryptocurrency, people are much curious to know about the right time to invest in Bitcoin. But more than that one must know about the crypto exchange where trading of this popular digital currency is done. Today, we are going to give you a review of Bittrex, one of the major crypto platform for crypto trading. Bittrex is a well-known crypto exchange other than Coinbase that has gathered much fame in recent years. So it becomes important to know about it and to be aware of its main issues.
Review Of Bittrex Exchange
Known to be a very popular old US exchange, Bittrex, has always aimed for the users’ security. The reason that makes this crypto exchange a notable trading platform is its two main promising functions, which are stability and speed. Believe it or not, Bittrex never faced any kind of hacking ever since it made its journey. But every technology had its share of downside. Bittrex too was not far from it.
It was criticized for providing lesser customer support and giving no prior notice while suspending the accounts of users. Even though this crypto exchange is strong enough, still, it must be used with caution. This is a bit brief review of Bittrex exchange, but there is more to it, so keep gliding to know more about it.
In the year 2013, Bittrex, a US exchange made its debut. Its headquarter is situated in Seattle Washington. Those who have active participation behind its foundation have prior experience in Microsoft.
Emphasis On Security
While doing a review of Bittrex exchange, you need to note that this topmost crypto exchange has never left any lacunas especially in terms of security. It made it possible with the best available technology that was efficient and trustworthy. It has always emphasized on security with decisions based on development. Bittrex follows a multistage wallet strategy where maximum funds are kept with offline safety.
While doing a review of Bittrex, you will come to know that it has not experienced any serious issues like losing funds of the customer or any breaches. The main service provided by the Bittrex is trading. Many multiple digital currencies are listed in this trading exchange. The execution of standard spot trading is enabled here. A review of Bittrex according to clients has been positive because of its speedy loading and efficient trading interface leaving no excuse for lagging. One point which you must note that in Bittrex, there is a margin trading option.
Vetting the source codes of upcoming altcoins and delisting the coins, which are not active is also an important role of Bittrex. However, there have been coins which have been avoided during the process of vetting. But whatever it may be, Bittrex never compromises on raising the quality of coin listing. Review of Bittrex exchange might seem interesting for you but do you know before debiting the customers’ accounts, this popular exchange also reviews the coins from airdrops or hard forks. Many coins that come out from hard forks are referred for trading when the stability of the network is satisfactory. If you are interested to know about the future Bitcoin price, then it is speculated to cross around $400K.
Comparing to the industry average, Bittrex charges higher trading fees. Rebates of higher-volume trades are not involved in this exchange platform. Excluding a few countries like Cuba, Syria, North Korea, and Iran and for the people who have been levied with economic sanctions by the US government, Bittrex welcomes customers from all over the world.
Public Opinion About Bittrex
Sadly, the review of Bittrex does not live up to the expectation of public opinion. The major flaw which is responsible for this poor review is the accounts that are suspended. Sometimes, there are accounts that are suspended for a short period of time making the completion of the review in the pending state. This shortcoming proved a minus point from those owners whose accounts are being frozen. Such problems have been consisting but the team of Bittrex is still tight-lipped on this issue.
Competition With Binance
Don’t think that competition can take place only between Bitcoin and altcoins. Competition is possible between the two most popular exchanges also. The biggest example is the Bittrex vs Binance. The amount of altcoins provided by Bittrex is often coming to face off with Binance as a substitute. But when it comes to high fees and austere process of verification, then Binance proves to be a worthy opponent to Bittrex.
Conclusion
While doing trading, it is essential for a crypto trader to choose the right trading platform. For example a review of Bittrex, which is a US-based crypto exchange that doesn’t compromise when it comes to the priority of security for the users. No doubt, Bittrex is a worthy crypto exchange for newbies and most importantly for traders also, who aspire to do trading of several cryptocurrencies on a secured and robust platform. But two of its biggest flaws including account freezing and no customer support have put a big question mark on its credibility and doubtful choice.
