Bittrex Cryptocurrency Exchange
Bittrex is one of many cryptocurrency exchanges and it is based in the US. The exchange launched in February 2014, so they have been around for quite a while. The team that founded Bittrex has a very strong background in the infosec/computer security industry and puts security as their top priority. They offer trading pairs against BTC, ETH, and USDT, which is standard across most cryptocurrency exchanges.
NOTE: Bittrex does not currently pay out any GAS accrued from NEO that you keep on the platform. If you plan to buy NEO, consider moving it to your own NEO wallet. Here is a guide for creating a NEO web wallet and one for a NEO desktop wallet.
Liquidity is one of the most crucial factors when choosing an exchange to trade on. Without liquidity you may have a lot of trouble buying/selling your cryptocurrency. Bittrex has had an early mover advantage and is doing an excellent job of bringing in volume. At the time of this writing, Bittrex is #3 in terms of 24hr trade volume. They traded $3Bil in the past 24hrs. While they may not list new tokens as frequently anymore, they do play by the rules and list more ‘credible’ cryptocurrencies.
Bittrex used to add new cryptocurrencies pretty rapidly. However, tightening regulations in the US have caused them to do extensive legal reviews on any cryptocurrency that wants to be listed on their exchange. They have also had to de-list tokens such as SNGLS because of mechanisms that make it considered a security. The positive here is that they are covering their bases, which means you shouldn’t have to worry about them being randomly shut down one day.
Bittrex has a clean interface that is easy to navigate. They have a very nice selection of charting tools and indicators for the charts. This gives a lot of flexibility, so novice and veteran traders should be fine with these options. The below screenshot shows the different charting tools and indicators/studies.
The below screenshot is the top half of the trading screen. The default chart style is candlestick, but there are options for bar, colored bar, line, hollow candle, and mountain. You can even change the theme between light (shown in screenshots), dark, or upload a custom theme. To the right of the chart you can see the important information for the trading pair. Underneath the chart is where you would place your buy and sell orders. Check out these guides for how to buy and how to sell on Bittrex to see how easy it is.
The below screenshot is the bottom half of the trading screen. This shows the order book, any open orders you have, market history, and your order history. It sticks to the basics and shows the important information.
Since Bittrex touts security as it’s biggest priority I decided to give it it’s own section. Bittrex offers the standard two-factor authentication using Google Authenticator. They also provide notifications when someone logs into your account, which can be enabled or disabled. I think the most interesting security features they offer though are the ability to whitelist wallet addresses and IP addresses. These options are found under the “Settings” tab in the top right corner of the screen. Screenshots of each option are below. Note that if you add a cryptocurrency to the address list you will have to provide a withdrawal address for all of the other ones you plan to withdraw.
Bittrex is a great exchange that has been in the cryptocurrency space for a while. Their strong focus on security and playing by the rules makes it one of the safest exchanges to trade on. If you are interested in exchanges that add newer cryptocurrencies at a fast rate, check out the Binance or KuCoin review.