What is Bittrex crypto exchange?

Bittrex is a crypto exchange based in the United States that offers trading in a wide range of digital assets, including Bitcoin, Ethereum, and Litecoin. The platform is known for its security, reliability, and fast trade execution. Bittrex supports over 350 trading pairs and is a popular choice among traders due to its user-friendly interface and advanced trading features such as a stop loss order. However, the exchange has faced criticism in the past for its lack of transparency and customer support.

Bittrex is a solid choice for trading digital assets, but users should be aware of its limitations and do their own research before using the platform. So, we made an investigation of the platform for you and tell you all the details about its functions, prices, registration process, and advantages.

History of Creation

Bittrex was founded in 2013 by Bill Shihara, a security expert with over 20 years of experience in the technology industry. Shihara and his co-founders, Richie Lai and Ryan Hentz, were motivated to create a secure and reliable platform for trading digital assets, as they saw a need for a better alternative to the existing exchanges at the time.

The company is based in Seattle, Washington and it began operations in February 2014. The exchange quickly gained popularity among traders and investors, thanks to its focus on security and its wide range of trading pairs.

In 2017, Bittrex introduced the USD trading pairs to attract investors, which allowed them to provide crypto trading directly with US dollars.

Bittrex continued to expand its platform and services, adding new coins, fiat pairs, and features to the platform. Today Bittrex is one of the largest crypto exchanges in terms of trading volume and it’s considered one of the most secure platforms in the market.

Bittrex Crypto trading terminal

The Bittrex trading terminal is a crypto trading tool with a simple interface. It offers a wide range of features and tools to help traders manage their portfolio and execute trades effectively. TradingView charts and tools provide a wealth of information and make navigation easy and accessible to traders of all experience levels.

The trading terminal is divided into several sections, including the order book, the trade history, and the charting tools.

• Order book: The order book displays all the buy and sell orders for a particular trading pair, allowing traders to see current market trends and make informed trading decisions.
• Trade history: The trade history section displays all the recent trades that have been executed on the platform, including the price, the quantity, and the time of the trade.
• Charting tools: Bittrex offers a variety of charting tools to help traders analyze the market to help make informed trading decisions, drawing tools, and other advanced charting features.
• The charts can be customized to display different time frames, indicators, and other technical analysis tools.
• Balance and order section: The balance and order section is where traders can manage their portfolio and see their current balance, open orders, and trade history.
• Stop Loss, Take Profit, and Trailing Stop: Bittrex allows traders to set stop loss and take profit orders to limit their losses and lock in their profits.
• Mobile App: Bittrex also offers a mobile application for iOS and Android devices, which allows users to access their accounts and trade on the go.

Bittrex Services

Bittrex offers several types of crypto trading options for its users. Some of the main types of trading available on the platform include:

1. Spot trading: This is the most common type of trading on Bittrex, where users can buy and sell cryptocurrencies at their current market prices. Users can place limit and market orders to buy or sell digital assets.
2. Margin trading: Bittrex offers margin trading for select trading pairs, allowing users to trade with leverage. This means that users can trade with more funds than they have in their account, which can amplify their gains but also increases the risk of losses.
3. Staking: Bittrex offers a staking service for some of the supported coins, which allows users to earn rewards for holding and supporting the network of a specific coin.
4. Lending: Bittrex allows users to lend their digital assets to margin traders and earn interest on their lending.
5. OTC (Over-the-counter) trading: Bittrex also offers OTC trading for large volume trades, where users can trade large amounts of digital assets directly with other users without having to go through the order book.

Note that not all of these types of trading may be available for all trading pairs, and the availability and terms of these services may change over time. It’s always good to check the Bittrex website for the latest information and updates.

Advantages of Bittrex

As we have already mentioned, Bittrex is a cryptocurrency exchange that offers a wide range of features for traders and investors. Some of the key features of the platform include:

• Wide range of trading pairs: Bittrex supports over 850 trading pairs, including popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, as well as lesser-known digital assets.
• Advanced trading features: Bittrex offers advanced trading features such as stop loss orders and limit orders, which allow traders to manage their risk and execute trades more effectively.
• Security: Bittrex places a strong emphasis on security, using a combination of hot and cold wallets to store customer funds, as well as two-factor authentication for added protection.
• Reliability: Bittrex is known for its fast trade execution and minimal downtime, making it a reliable choice for traders.
• User-friendly interface: Bittrex has a user-friendly interface that is easy to navigate, making it accessible to traders of all experience levels.
• USD trading pairs: Bittrex allows trading with USD (Fiat trading) which makes it more accessible for institutional and accredited investors.
• Staking and earning rewards: Bittrex also offers staking services for some of the supported coins, this allows users to earn rewards for holding and supporting the network of a specific coin.
• Mobile App: Bittrex also offers a mobile application for iOS and Android devices, which allows users to access their accounts and trade on the go.
• API: Bittrex provides an API that allows developers to access the platform’s features and functions, enabling them to build custom trading applications and automation tools.

Disadvantages of Bittrex

Disadvantages of using the Bittrex exchange include:

• Limited payment options (only accepts cryptocurrency deposits)
• Limited customer support and slow response times
• Occasionally, the site may experience technical difficulties or downtime
• Limited coin selection compared to other exchanges
• Supports one language version

Registration on Bittrex

The registration process on Bittrex is relatively straightforward. Here are the steps to follow:

1. Go to the Bittrex website and click on the “Sign Up” button located in the top right corner of the page.
2. Fill out the registration form with your email address, a strong password, and a username.
3. Click on the “Sign Up” button to complete the registration process.
4. Check your email for a verification link, click on it to verify your email address.
5. Once you have verified your email address, you will be prompted to log in to your account.
6. After logging in, you will be prompted to set up two-factor authentication (2FA) to enhance the security of your account. You can use a mobile app such as Google Authenticator or Authy to generate the 2FA code.
7. Once you have completed the 2FA setup, your account will be activated and ready to use.

Please note that to withdraw funds, you will need to go through a verification process. Bittrex requires users to provide personal information and documents to verify their identity before they can withdraw funds.

After you have verified your account and are logged in, you will be able to deposit funds into your Bittrex account and start trading.

Bittrex Verification

The verification process on Bittrex is required to increase the account’s limits and to be able to withdraw funds. Here are the steps to follow for the verification process:

1. Log in to your Bittrex account and click on the “Settings” button on the top right corner of the page.
2. Click on the “Verification” tab, and then click on the “Get Verified” button to begin the process.
3. Fill out the form with your personal information, including your name, address, and date of birth.
4. Upload a government-issued ID, such as a passport or driver’s license. The ID should be in color and all 4 corners should be visible.
5. Submit the form and wait for the verification process to be completed. The process usually takes a few days to complete.
6. Once the verification process is complete, you will be able to increase your account limits and withdraw funds.

Please note that Bittrex reserves the right to request additional information or documentation if needed, and the process may take longer if there are any issues with the information provided.

Additionally, Bittrex has different levels of verifications, each level increases the withdrawal limits and it also requires submitting more information and documentation.

Bittrex fees

Bittrex charges a small fee for each trade executed on the platform. The fee is calculated as a percentage of the total trade value and is based on the trading pair being used. The fee schedule can vary.

Currently, Bittrex charges a flat fee of 0.25% for all trades. This fee is considered to be relatively low compared to other cryptocurrency exchanges.

In addition to the trading fee, Bittrex also charges a small fee for deposits and withdrawals. The deposit fee is generally zero, but some cryptocurrency networks charge a small transaction fee for each deposit. The withdrawal fee varies depending on the cryptocurrency being withdrawn and the network transaction fee.

It is worth noting that Bittrex also charges for the use of certain features such as advanced order types (stop loss, take profit), margin trading, and lending.

In summary, Bittrex charges a relatively low trading fee and deposit fee, but withdrawal fees may vary depending on the cryptocurrency and network fees. It’s always good to check the current fee schedule on the Bittrex website before making any transactions.

Mobile app

Bittrex has a mobile application that is available for both iOS and Android devices. The mobile app offers many of the same features as the web-based trading platform, allowing users to access their accounts, view their portfolio, and execute trades on the go.

The Bittrex mobile app has a user-friendly interface that makes it easy to navigate and access the different features. Users can view the order book, trade history, and charting tools, as well as place orders and manage their portfolio.

The app also supports two-factor authentication (2FA) for added security.

Additionally, the mobile app also includes push notifications, which allow users to receive real-time updates about their orders and trades.

Overall, the Bittrex mobile app is a convenient and useful tool for traders and investors who want to stay connected to the market and manage their portfolio on the go.

Please note that the mobile app may not have all the features available on the web-based platform, and it is always recommended to check the app store for the latest features and updates.

What Cryptorobotics features can be used on Bittrex?

Trading on Bittrex is very popular among traders, as this platform has proven to be absolutely safe. However, the crypto market is so dynamic and rapidly developing that it requires traders to monitor the market as often as possible. But, this is not always possible and therefore you can automate crypto trading on Bittrex using Cryptorobotics tools.

Cryptorobotics is a trading terminal that offers a wide range of features and tools to help traders execute trades more effectively on Bittrex and other cryptocurrency exchanges. Some of the main functions of Cryptorobotics that can be used on Bittrex include:

1. Automated trading: Cryptorobotics offers a variety of pre-built trading strategies that can be automated to execute trades on your behalf, based on market conditions. These tools are crypto trading bots, crypto signals, copy trading, AI bots of autofollowing, smart ladder orders, and DeFi bots.
2. Custom strategies: In addition to the pre-built strategies, users can also create their own custom strategies using special tools on the platform.
3. Demo Trading: Cryptorobotics allows users to test their strategies on a demo, so they can see how the strategy can perform without money depositing.
4. Portfolio management: Users can view their portfolio and track their performance in real time.
5. Risk management: Cryptorobotics allows users to set stop loss and take profit orders, which can help limit losses and lock in profits.
6. Advanced indicators: Cryptorobotics offers a variety of indicators such as the  Moving Average, Relative Strength Index (RSI), Bollinger Bands, and others, that can be used to analyze the market and make more informed trading decisions.
7. TradingView Terminal: Cryptorobotics has an integrated TradingView charting platform, which offers a wide range of indicators, drawing tools, and other advanced charting features.

How to trade on Bittrex via Cryptorobotics?

Cryptorobotics is a trading terminal that allows you to trade on Bittrex and other crypto exchanges using advanced trading strategies and tools. Here is an overview of how to trade on Bittrex using Cryptorobotics:

1. Sign up for an account with Cryptorobotics.
2. Connect your Bittrex account to Cryptorobotics by providing your Bittrex API key.
3. Once your Bittrex account is connected, you will be able to access the Cryptorobotics trading terminal.
4. Browse through the available trading strategies and select the one that best suits your needs.
5. Set up the parameters for the strategy, such as the trading pair and the risk level.
6. Start the strategy and let the bot execute trades on your behalf, based on the set parameters and market conditions.
7. Monitor your trades and adjust the strategy as needed.
8. Withdraw your profits from your Bittrex account.

Conclusion

Overall, Bittrex is a feature-rich platform that offers a wide range of options for traders and investors. Its strong emphasis on security and reliability, as well as its user-friendly interface, make it a popular choice among users.

READ MORE: How to trade crypto securely with API Keys on Cryptorobotics?