Bittrex Review: Convert your Bitcoins to Altcoins Easily
Table of Contents
- 1 Bittrex Review
- 2 What is Bittrex?
- 3 How to Register on Bittrex?
- 4 How to Secure your Bittrex Account?
- 5 How to Verify Bittrex Account?
- 6 How to Deposit Bitcoin in Bittrex Account?
- 7 How to Use Bittrex to Buy Altcoins?
- 8 How to Use Bittrex to Sell Altcoins?
- 9 Bittrex Fees Schedule
- 10 Bittrex Security
- 11 Bittrex App
- 12 Conclusion on Bittrex Review
Bitcoin is Booming after Segwith Update and today it has crossed $3850 highest price so far. As the Altcoins are down it’s the best time to buy some Altcoins and hold them.
I was already using Poloniex but one my friend recommended me to try Bittrex. I bought some Altcoins like Stratis, TenX Pay, Antshares (NEO) from Bittrex and I would like to share my Honest Bittrex Review.
Personally, I was addicted to Poloniex but it’s always better to have a backup although Bittrex has a better security compared to Poloniex.
What is Bittrex?
Founded in 2014, Bittrex is a US based Cryptocurrency exchange. You can Instantly Convert your Bitcoins to Altcoins from Bittrex. Bittrex is also one of the secure Cryptocurrency Exchange.
How to Register on Bittrex?
1.) First of all, Visit Bittrex and click on Sign Up.
2.) Next, Enter your Email and Password.
3.) Tick on “I Agree to Terms & Services of Bittrex”
4.) Click on Sign Up Button.
5.) Next, Verify your Email Address.
Voila! You’ve successfully created your account on Bittrex.
Now that you’ve successfully created your account it’s time to make your account safe and secure so that only you can have access to have it 🙂
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How to Secure your Bittrex Account?
1.) Click on the Setting Icon at the Top Right Corner.
2.) Click on the Two-Factor Authentication.
3.) Next Scan the Barcode or Enter the Authentication Code on the Google Authenticator App.
4.) Now Enter the Password and the 6 Digit Code from Google Authenticator App and Enable the Two-Factor Verification
Voila! You’ve successfully secured your Bittrex Account.
How to Verify Bittrex Account?
The Verification Process on Bittrex is similar to the other Cryptocurrency Exchanges and here on Bittrex, there are Total 3 Levels of Verification.
In Basic Verification, you have to submit your basic details like Name, Birth Date & Address.
Daily Limit: 1 BTC
In Phone Verification, you have to verify your Mobile Number via OTP from Bittrex.
Daily Limit: 3 BTC
In Enhanced Verification, you have to upload some personal documents and selfies and here’s the list that is required.
Daily Limit: 100 BTC
Tips for successful verification:
- Take a fresh selfie, ensure nothing is blocking a full view of your face
- Do not use the same image from your identification documents
- Do not use a professional profile picture
- Don’t manipulate the image of your identification in any way. This includes adding watermarks or blacking out certain information
- Do not crop the image of your ID such that any portion of the ID is removed including edges.
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How to Deposit Bitcoin in Bittrex Account?
1.) Click on “Wallets” Tab.
2.) Now search for the BTC because you’ve to load Bitcoins and Click on “+” icon.
3.) Next, just the Copy the Bitcoin Address and send the desired amount of Bitcoins you want to Trade.
How to Use Bittrex to Buy Altcoins?
1.) Click on The Bitcoin Market Tab at the Top.
2.) Now you can see the chart of the selected Cryptocurrency or you can also select any Cryptocurrency which you would like to buy from Bittrex.
3.) Select the Cryptocurrency and the Graph will be Loaded scroll down and you can see the section for Buy and Sell Cryptocurrencies.
4.) Next, Enter the Units (No. of Coins) of the Cryptocurrency which you want to purchase and accordingly the Fees will be Charged (I’ve discussed the Fees Charges in the Next Part)
5.) Select the Bid Option to Last only to get it faster and at the current rate.
6.) Click on the Buy Button and complete the process of buying.
I had recently purchased 1 STRAT and this is how it looks when you place an order.
Voila! You’ve successfully purchased your Altcoins
To Track your Order Reports just Click on Orders Tab.
How to Use Bittrex to Sell Altcoins?
1.) Click on the Bitcoin Market Tab at the Top.
2.) Select the Cryptocurrency and the Graph will be Loaded scroll down and you can see the section for Buy and Sell Cryptocurrencies.
3.) Next, Enter the Units (No. of Coins) of the Cryptocurrency which you want to purchase and accordingly the Fees will be Charged (I’ve discussed the Fees Charges in the Next Part)
4.) Select the Bid Option to Last only to get it faster and at the current rate.
5.) Click on the Buy Button and complete the process of buying.
Bittrex Fees Schedule
For every Trade on Bittrex, you will be charged 0.25% fee…
Bittrex is always known for the secure and best cryptocurrency exchange. It is also safe and seems to be the best secure trustable cryptocurrency exchange.
Even after good security, I would highly recommend you to enable your 2FA (2 Factor Authentication) to increase the security level.
Bittrex does not have any mobile app but there are some mobile apps which are based on its API but the users cannot trust these apps for trading.
Conclusion on Bittrex Review
In conclusion, I liked Bittrex in terms of everything like security, transparency, UI, multiple coin support with inbuilt wallets to store.
When comparing Bittrex to Poloniex, Bittrex took more than an hour to add Bitcoin to my Account for few of my friends it took more than 2 hours also where as in Poloniex most of the transactions are processed in just 30 minutes.
Bittrex Fees are also normal and the best thing is that you can store any altcoins in your Bittrex Wallet itself. In addition, if you’re going to register on any Cryptocurrency Exchange just make sure to Enable 2FA on every possible site to reach the maximum security.
I hope you found the Bittrex Review helpful and now you can also easily Buy Altcoins 🙂
Note: This Bittrex Review is not sponsored by Bittrex.
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Here are some of the Pros & Cons of Bittrex.
- Doesn’t requires verification
- Huge List of Altcoins to Trade
- Live Exchange Rates with Graph
- Inbuilt Wallet for all Altcoins
- Poor Support
- Mobile App is not available
- Getting Started Details are not available.