Bittrex Exchange Review

After the success of Bitcoin and the subsequent introduction of numerous altcoins, it didn’t take long for crypto trading to become mainstream.

However, to this day, traders struggle to find a secure exchange that is also easy to use. Not only has Bittrex never been hacked, but it is also based in the USA, intrinsically making it safer to use than other platforms.

But does the company comply with regulations? Does it have a responsive customer service team? More importantly, is the platform worth your time and money? In this in-depth Bittrex review, we will answer those questions and more.

INTRODUCTION – WHAT IS BEHIND BITTREX?

Bittrex is one of the most widely used crypto exchanges in the USA. It was founded by three former senior security managers from Amazon back in 2014. The founder’s Bill Shihara, Richie Lai, and Rami Kawach currently serve as Bittrex’s CEO, CIO, and CTO. The three founders make a formidable team, lending over 50 years of combined cybersecurity experience to Bittrex.

It’s also worth mentioning that all three of the co-founders worked at Microsoft at some point in their careers, and looking at their CV, it’s not hard to see why the Bittrex has a security-centric focus. Post its launch in 2014, Bittrex quickly grew to become one of the most popular crypto exchanges in the industry. The company employs a self-regulatory model called The Blockchain Act, as a result of which all of Bittrex’s customers must undergo stringent KYC and AML checks. 

A year after its launch, Bittrex applied for the BitLicense so that operations could expand to New York. However, four years after the initial application, the state of New York rejected the application stating “a seriously deficient customer identification program” as the reason. The company has denied these claims.

In 2019, the company also revamped its trading engine, making the platform nearly 20 times faster than before. The company also added new features and support for USD and EUR markets, and in the same year, the company launched Bittrex Global to expand its user base. The two exchanges now share liquidity.

Who is Bittrex for?

Initially, Bittrex did not allow users to buy cryptocurrencies using fiat currencies. However, as of 2021, the company has added this feature, making it a lot more accessible to traders. To buy cryptocurrencies with fiat currencies using Bittrex, you will need to pass its bank verification process.

Bittrex enables its customers to buy more than 680 different cryptocurrencies and tokens. What’s more, the company boasts 284 unique trading pairs, making it the right platform to use if you want to experiment with trading lesser-known altcoins.

But perhaps what’s more important is that more popular currencies like Bitcoin, Tether, Ethereum, and Litecoin are available for purchase on the platform. Bitcoin and Tether have the most trading pairs on Bittrex, with Bitcoin alone having more than 450 trading pairs.

Buy and sell crypto

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The relatively low transaction fees of 0.25% make the exchange that much more enticing to both beginners and seasoned traders. While the fees are not the lowest in the industry, the fact that only one fee applies to all transactions makes keeping track of expenditure that much easier.

Another advantage the company offers is lightning-fast trading speeds. The company employs elastic computing technology, enabling trades to process instantly. 

It’s also worth noting that Bittrex has a set of unique APIs, enabling users to set up automated trading bots for convenience. All of these features, coupled with the uncomplicated interface and the easy-to-use mobile app, make Bittrex an excellent option for beginners. But the elastic computing tech and access to APIs make an equally enticing option for seasoned traders looking for a secure trading platform.

How to trade with Bittrex?

Like with other exchanges, you must fund your account before you can execute a trade.

Head to the Markets dropdown that appears on the top of the main screen and clicks on the pair you want to trade.

Next, choose how many units of the cryptocurrency you selected you want to buy and at what price. You can check to see what users are selling the currency for in the website’s Order Book section. Make sure you don’t bid too lower than the asking price, or your order may never go through.

You can optionally place a limit on the order, indicating that you will certainly buy the units at the price you’ve stated – that is, unless you cancel the order.

After all your details are set, confirm your order’s details before finalizing the purchase. After the order is complete, the coins will appear in your Bittrex wallet automatically.

Deposit and withdrawals with Bittrex

Bittrex does not verify user accounts itself – it has partnered with Jumio to take care of the verification process. The ID verification solution provider processes users from 200 countries on behalf of numerous companies. 

Nonetheless, you will need to verify your identity with the company before you can make a withdrawal. There are no deposit fees whatsoever, regardless of which currency you buy, which is typical of crypto exchanges

Security measures:

The company puts an emphasis on user and data security by employing the most reliable security technologies out there. The protection offered is undoubtedly the company’s most defining feature.

Bittrex uses an elastic, multi-stage wallet strategy to keep users safe. This is done by moving the coins from cold to hot wallets securely as and when required.

The 50+ years of security expertise the founding team has to offer, coupled with the fact that security is always prioritized in all developmental decisions, makes Bittrex one of the world’s most secure exchanges. Bittrex uses an elastic multi-stage wallet, putting away 90% of its funds in cold storage. It makes the exchange that much harder for hackers to break into. 

The company’s domain is encrypted with industry-standard SSL, which means all of the data communicated between you and the site is 100% secure.

The company also offers two-factor authentication, and you can also use Google Authenticator for it rather than using SMS to receive the code. However, the company does not enforce the use of 2FA like some other platforms do.

Whitelisting features are also available:

Wallet whitelisting: Gives users control over withdrawals. Using the feature, you can ensure that your funds are never withdrawn to wallets that are not yours.

IP whitelisting: You can “whitelist” IP addresses to ensure that account activity from IPs other than yours is blocked.

One other feature that makes Bittrex stand out is its cross-chain recovery service. If any of your deposits are worth more than $5000, the company will recover the funds for you if you accidentally send it to a wallet of the wrong coin type.

However, using the service costs 0.1 BTC, and you can use it if you request a recovery within seven days of transferring the funds. It is important to remember that the company cannot help you if you transfer the funds to the wrong wallet. All of these features make Bittrex a reliable exchange – and reliability is the one thing traders look for in their exchange of choice.

VERDICT

Not only is the veteran exchange safe, but it is also easy to use, making it an attractive choice for both new and experienced crypto traders alike. And with all the updates made to the platform recently, it has only become more of an attractive choice.

While it does not offer margin trading, the exchange does enable you to sell your coins for USD or EUR and withdraw them into your bank account. So, if you’re on the lookout for a fiat-to-crypto exchange that offers a wide variety of cryptocurrencies to pick from, Bittrex will not disappoint.

The security measures the company takes to make it one of the best cryptocurrency exchanges in the industry.

Advantages of Bittrex: 

High secure trading platform

More than 600 coins are available

Fiat deposits and withdrawals

Low trading fees

Professional trading platform

Ultra-fast account verification

Crypto.com Exchange Review

Crypto.com: A Top-Rated Cryptocurrency Platform 

Crypto.com is a top-ranked crypto platform that allows users to buy, transfer, store, and exchange more than 90 cryptocurrencies, according to its website.

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), CRO, and other cryptocurrencies are among them. On the site, you can also utilize over 20 fiat currencies (e.g., GBP, USD, EUR, etc.).

The company offers a flexible debit card that allows customers to spend cryptocurrencies anywhere Visa is accepted. Furthermore, Crypto.com's CRO tokens provide consumers with a stunning 8% cashback incentive.

Crypto.com Features and Products 

Crypto.com remains best known for its great MCO Visa card, which makes cryptos conveniently mainstream. The company offers a wide range of features and services. Many customers are surprised to find out that the platform also provides access to:

Crypto Pay

Crypto.com app

Crypto Earn

Crypto Credit

Crypto.com exchange

Crypto.com DeFi wallet

CRO Token

The Crypto.com App

The Crypto.com app allows you to sell and buy a growing number of cryptocurrencies at real-time exchange rates. This program can also be used to store, receive, and send cryptocurrency. The ability to buy and sell bitcoin at genuine cost has been the app's standout feature. It's worth mentioning, though, that if you want to save money, you'll have to pay with a bank transfer rather than a credit card.

How You Open a Crypto.com Account 

Head to Crypto.com to get started. There, you'll find links to download the mobile app for Android and iOS. Remember that you must be at least 18 years of age or older to sign up.

From there, you'll need to either go to the app store links or scan the QR code on the home page. Download the app to your phone and then start the app. Follow the prompts needed to verify your identity, and you're good to go.

How to Pay with Crypto.com

When you go to your store's payment method page, select "Crypto.com" from the establishment's drop-down menu. Agree to the Website Terms of Use and Terms and Conditions and then click the button that says "Crypto.com Pay" to head to the checkout.

Next, you'll see a popup page with a QR code. From there, open your Crypto.com app and select the shopping bag icon located on the Home Screen to gain access to "Crypto Pay." Or you may click on the "Pay"' button on the dashboard.

Look for the "Scan" button and click on it to scan the QR pay code you now have. Follow the prompt to choose a digital currency you'd like to pay with, and then click "Continue to Review." Finally, you'll review the payment and click "Confirm."

Is Crypto.com Safe to Use?

We've already discussed in this review that Crypto.com takes security and safety seriously. Nevertheless, your account won't enjoy the same insurance protections (FDIC or SIPC). Of course, this is true of cryptocurrency exchanges and platforms across the board.

You should also bear in mind that Crypto.com is not a US-based enterprise. Instead, it's headquartered in Hong Kong where financial regulations prove quite different.

The platform relies on a Secure Software Development Lifecycle. These software analysis tools keep a constant eye on the code. It's quality controlled and peer-reviewed by a full-time staff.

The software also gets audited by external certifications via Certik and Quantstamp for smart contracts. It's worth noting that Crypto.com started with a mixed reputation in its early years.

From 2017 to 2019, some people even accused the company of being a scam. Since these early, difficult years, Crypto.com has worked hard to prove it's a legitimate platform.

KuCoin Exchange Review

VERDICT: As a whole, KuCoin exchange has become one of the most popular crypto exchanges across 207 countries and regions in the world. Comparatively, it provides a series of financial services including crypto-to-crypto trading, fiat-to-crypto purchases, futures, staking, borrowing, and many more.

Additionally, the trading platform is also convenient for users on-the-go, as it has a mobile app on both Android and iOS mobile devices. KuCoin exchange also supports various promotion programs and a referral program. Among the promotional programs is a 30% discount that is applied to users’ fees if they use the exchange’s native token, KCS.

On a negative note, the exchange does not allow fiat-to-crypto trading. Yet, the KuCoin exchange’s main attraction is the available trading pairs offered on its platform.

Furthermore, the trading platform has partnered with Arwen to bring users a self-custody option for crypto assets. Rather than rely on a third-party exchange wallet to secure your assets, you can leverage the native security of your digital asset’s blockchain and trade through KuCoin.

KuCoin exchange is one of the top digital asset trading platforms in the world. Furthermore, the crypto exchange flaunts of serving one out of every four crypto holders internationally. Since its establishment, the exchange has expanded its services, hosting over 300 employees in 207 countries.

Presently, the cryptocurrency exchange has global branches spread across the United Kingdom, India, Canada, Singapore, Japan, and Turkey. In fact, to cater to various nationalities, KuCoin’s trading website is translated into 17 languages. These include English, Russian, South Korean, Hindi, Turkish, German, Chinese, and French, among others.

In addition, KuCoin exchange has a wide selection of assets and services, a high number of users and liquidity, and low trading fees. Meanwhile, as of October 2020, the platform has more than 5 million active users. Also, the trading platform has more than 400 markets and supports trades for around 200 cryptocurrencies.

History Overview

Although the KuCoin exchange’s technical architecture was designed in 2013, it began to operate fully in 2017. The crypto exchange was founded by Michael Gan and Eric Don and is headquartered in Seychelles. By all means, the exchange is known as the “people’s exchange”. Hence, it offers low trading fees and an easy-to-use interface for all its users.

Afterward, the KuCoin exchange raised its funds through an initial coin offering (ICO) conducted between August 13 to September 1, 2017. During the ICO, the exchange issued its native token KuCoin Shares (KCS). Following this, nearly $20,000,000 in BTC (at the time) were raised in exchange for 100,000,000 KCS.

Firstly, the ICO price for a single KCS was pegged at 0.000055 BTC. Accordingly, KCS tokens can be used for multiple purposes including promotions on the platform, trading discounts, and as a part of exchange profits. Equally, KCS holders are able to receive exclusive rewards and cryptocurrency dividends on a regular basis.

KuCoin Exchange Platform Interface

As a matter of fact, Coingecko ranks KuCoin exchange as one of the busiest trading exchanges. Significantly, the platform has a combined daily average volume of around 100 million. After all, its objective is to create a simple and safe platform for all its traders.

With this in mind, users can access the platform through a desktop computer and the KuCoin App through Android and iOS.

Supported Cryptocurrencies

Accordingly, the KuCoin exchange keeps expanding its number of digital assets being offered for crypto users across the globe. The numerous supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRX), and Tether (USDT). In addition, the platform also supports NEO (NEO), Ripple (XRP), and its native token KuCoin Shares (KCS), among others.

Undoubtedly, users can directly purchase crypto and stablecoins using various payment methods offered on the platform. Moreover, by utilizing the fast buy feature, KuCoin exchange clients can purchase multiple digital assets with low fee rates. Again, KuCoin enables its users to trade each crypto asset against Bitcoin, KuCoin Shares, and stablecoins such as USDT, USDC, TUSD. Not to mention other altcoins as well.

KuCoin Exchange Deposit/Withdrawal/Trading Fees

To clarify, KuCoin exchange is exclusively for crypto-to-crypto. Therefore, users are not permitted to deposit any fiat except when buying it directly via third-party integrations. On the positive side, the platform does not charge any fee for deposits.

More so, withdrawals are usually processed within 30 minutes. In addition, withdrawal fees are charged depending on the token. Provided that the withdrawal amount is huge, the process is handled manually to maintain the security of user assets. However, the platform does not support fiat money withdrawals.

The trading platform also uses technology that can handle millions of transactions per second (TPS). Furthermore, payouts on the platform should be particularly fast. Also, they last no more than 10 minutes.

Pros

Low trading and withdrawal fees

User-friendly platform

A diverse selection of altcoins

All-round clock customer service

Ability to purchase crypto using fiat

Non-compulsory KYC checks

Ability to stake and earn crypto yields

Cons

No fiat trading pairs

No bank deposits

5 Best Crypto Exchanges Without KYC Verification in 2022!

This is a curated list of over 10+ best Non-KYC crypto exchanges in the blockchain industry. No Exchanges listed here require customers to do KYC verification. Meaning these exchanges can be used anonymously without needing ID:s.

KYC stands for Know Your Customer which is a procedure where exchanges are required to identify clients by doing verification on documents such as home addresses, phone numbers, Passport, ID or driver’s licenses, and so on. This often also means that you are not able to buy or sell cryptocurrencies before giving out all of your valuable information.

Nowadays there are loads of crypto exchanges asking you to provide all these important documents during the signup, deposit, or withdrawal process. And of course, none of us likes to deal with these things. And that is why we have created a complete list of Non-KYC crypto exchanges that we have confirmed do not require KYC / AML on you.

Bybit

Bybit is one of the newest advanced leverage trading exchanges in the market. This exchange has quickly grown to the top with its volume, execution speed and interface. Bybit has four main perceptual swaps to choose from BTC, ETH, EOS, and XRP. On top of everything, Bybit has one of the most generous welcome trading bonus programs, giving new users up to $90 to begin trading with.

Huobi

Huobi is another one of the world’s leading exchanges when it comes to Bitcoin spot and margin trading. This exchange is another older yet still highly performing cryptocurrency platform.

KuCoin

KuCoin is a great alternative to Binance, offering a wide variety of coins to choose from, they as well have the option fo purchase with a credit card and all in all are a great exchange to anyone looking to buy, sell or trade lots of different altcoins.

BitMax

BitMax is one of the newest margin trading platforms. This platform offers a variety of different altcoins to choose from which you can trade against USDT and via margin. it has great volume and easy to learn interface, overall this is a good exchange.

Poloniex

Poloniex was once the top altcoin trading platform but has lost a lot of its shine from then, mainly because of Binance, and KYC requirements. However Hoverwer this exchange is still great for US citizens and has been stable for a long time making them still an excellent choice for trading a large variety of different coins.