Bittrex is among the most established exchange services that provides quality service.
Launched in 2014, this US-based company has an outright goal to become the new generation cryptocurrency trading. Bittrex partnered with Amazon and Microsoft for security and development purposes and to gain more clients. Bill Shihara, CEO of Bittrex, has experience of working as a part of the security team for Microsoft, Blackberry and Amazon.
Creating an account on Bittrex requires a bit more information compared to other sites. New clients would need to provide their names, date of birth, address, postal codes and phone numbers for verification. There’s also a third level verification where the clients need to submit scans of their identification for verification.
When it comes to trusting your own money in an online exchange service, you ask yourself one important question- is it safe?
Same kind of question arises for any cryptocurrency user using any cryptocurrency exchange service for the first time. It is in the nature of the people to always look for alternatives for better quality.
When it comes to security measures, the Bittrex team take all the necessary steps to provide safety for their clients. Any change of account password will result in a 24-hour freeze of the account from any withdrawal.
Daily withdrawal limit will remain at 1 BTC per day if the client doesn’t process two-factor authentication.
Clients are allowed up to 3 BTC per day after 2FA authentication and 100 BTC per day after third level verification.
A fee of 0.25% is applied on all the trading.
The Bittrex website has very compact and decorated interface.
Clients are only allowed in-depth access to the website once they register an account.
There are different pages for different trading market available for the clients after registration. A trading window has “buy” and “sell” options to punch in trading price manually. There is an Order Book at the bottom part of the page. Automated trading tools, like ‘Good till canceled’ (GTC) and ‘Immediate or Cancel’ (IOC) are available on the Bittrex website.
Despite all the security measures and steps, Bittrex doesn’t have the most popular of the customer support services. Forum posts can be found regarding unresolved tickets and service problems.
In short, we can say that Bittrex has several positive sites to go with few negative sites as well.
They have a top-notch security system for safe trading options. The website is pretty simple to get used to.
There are automated features for a smooth trading experience.
On the other hand, the verification system of Bittrex takes quite some time to get processed. There are some issues of unresolved customer complains.
So, if you’re looking for a trading platform that can act as a secure wallet for your cryptocurrency than Bittrex might be a suitable option for you. But there is a room for improvements in terms of customer complaint and authentication service.