The bad news is we can’t really give you a comprehensive answer in this part of our Bittrex review – or at least one that we can be sure will still be the case when you’re reading this. Bitrex offers an absolutely huge amount of cryptocurrency to trade with: roughly over 200 at the time of writing. The reason we say roughly and the reason we don’t want to write a list in this portion of our Bittrex exchange review is simple: the selection is ever-changing.
Don’t get us wrong, bitcoin is unlikely to disappear anytime soon, for instance. But because Bittrex is dedicated to keeping up to date with the constantly advancing world of cryptocurrencies, that means this list is always being added to. On some occasions, some cryptocurrencies are also removed to keep Bittrex safe and streamlined. Key examples include Ethereum, Bitcoin Cash, Litecoin, Ripple and Dash, to name but a few.
Although it’s ever-changing, one thing that does remain the same – and is a huge positive in this Bittrex exchange review – is that the selection is always absolutely massive. Bittrex is aimed at the more experienced user, and that means going beyond the basics of what is expected.
Happily, there’s no confusion in this part of our Bittrex review. The Bittrex trading fees are pretty much standard for this kind of business: 0.2% both ways. This is something we really appreciate because we’ve come across so many examples of exchanges which make this information needlessly complicated.
Considering that so many people tell us they’re put off by the apparent complexity of these types of exchanges, making this as simple as possible is a big help. The fact that this is done by an exchange which is known for being aimed at a more advanced user base shows that every one of their competitors can and should strive for something similarly easy to understand.
It’s top marks for ease of use in our Bittrex review here. The only complication is that there are discounts for large orders and promotional fees. Naturally, these are time restricted so the fees you get will vary. It’s good, competitive stuff here.
So, this is another area of our Bittrex review which is a little tricky. There actually does not appear to be any clear section on the site which point-blank tells us which countries are available.
The only clear caveat here is that you are not able to use their services if you’re part of a country or state that is embargoed by the United States. Later, it does actually specify some countries, including North Korea, Iran, Syria, Cuba and the Crimean region. However, it’s believed that other countries are also without access, but we don’t want to say without confirmation.
This vagueness is a flaw and sadly, has to be a mark down in our Bittrex review. The only other confirmed restrictions are those 31 states that were announced in 2019. These include, but aren’t exclusive to, the likes of Uganda, Pakistan, Venezuela, Egypt and more. The good news is that it does appear to be available in most European markets.
This part of our Bittrex review is partially a guide so you can get an idea of what to expect when signing up to this exchange.
1. Sign up
Firstly, you’ll need to register an account. This is really simple: just go to the homepage and sign up. All you need is an email and password. You can then verify your account using your phone number.
2. Fill out your profile
The next step is to enter your profile details including name, age and so on. Make sure this is correct because next up, you will need to verify your identity.
This requires you to take photos of your identification (preferably a passport), and should take 10-15 minutes including processing. US users will also need to add their social security number. That’s pretty much all there is to it. You can begin by selecting Bittrex trading.
3. Deposit to your account
To deposit funds, go into holdings, hit Bittrex deposit and input your wallet address. If you don’t have one, you can get a wallet address at this point.
Now you can choose what you want to deposit. Keep in mind there are different minimum deposits. Do make sure to use the same types of coins with the same address. In other words, if you have created a bitcoin address, any other coin sent to that address could be lost permanently. This is made clear by Bittex but is a common enough issue that we see it brought up by a lot by customers.
4. Bittrex how to trade
Head over to Bittrex markets and choose a currency. You can find the prices in the order book, and if your bid is accepted, it will be sent to your bitcoin wallet. Once again, transaction times and minimums vary because we’re dealing with an awful lot of variables here. When you’re ready to make your Bittrex withdrawal, it’s as simple as hitting the icon and telling it where to send the money.
We were really impressed by how easy this process is made. Once again in our Bittrex exchange review, they’ve made clear that a lot of variety doesn’t necessarily compromise its ease of use.