Bittrex, is a Cryptocurrency Exchange that operates in the United States since 2014 and has became one of the world’s most popular Altcoin Market amongst traders
If you’re looking for a platform that specializes in alternative Cryptocurrencies, then Bittrex should be on top of your List of exchanges to trade on
While it’s based and fully regulated in the USA, it has managed to attract clients from around the World resulting in Bittrex becoming a powerhouse it terms of trade volume, making this Exchange one that boast some of the highest liquidity for popular Crypto Trading pairs such as Steem/BTC
As of 2017, Bittrex has become a more popular choice among traders when compared to Poloniex primarily due to the variety of listed Cryptocurrency pairs. It seems as if these Days, everyone is trading their Altcoin such Neo, Ethereum, Litecoin, Steem, Cloakcoin and many more on Bittrex
Liquidity in Crypto is easily defined as the amount of Cryptocurrency quoted at any specific price point. Traders should value liquidity because it will ultimately coincide with the ease we enter and exit the market.
Steem's biggest Market right now, exists on Bittrex! Volume indicates that People are actively engaging in trade on Bittrex, resulting in many Steemians exchanging their Steem to BTC or vice versa. Anyone that earns Steem, is likely to have registered an Account at Bittrex, resulting in thousands of users making buy/sell orders for Steem/Steem Dollar
If you're looking to buy some Cheap Steem, Bittrex is the go-to Exchange for you. Let's review Bittrex as a Cryptocurrency Exchange
Team
Developed by a team of 3 highly successful computer scientists, all currently employed at major companies. The team behind Bittrex, consists of a group of Crypto enthusiasts bringing more than 50 years of combined security and development experience to the trading community from companies, including Qualys and BlackBerry. The founders of Bittrex are Bill Shihara (Co-founder & CEO), Richie Lei, Rami Kawach and Ryan Hentz, have worked for large corporations like Amazon and Microsoft. Overall, Bittrex is backed by a serious team of security and development professionals
Trading Fee’s
The set trading fee at Bittrex is 0.25% on each buy or sell order, which is slightly above average when compared to most of the popular Exchanges. When it comes to Withdrawal, Bittrex seem to have reasonable commission, if not charging only the typical network fee imposed by a Blockchain Protocol which tend to be much lower when compared to Liquid.io and HitBtc withdrawal fee's
Security
For maintaining security, Bittrex uses a multi-stage wallet plan to ensure that 70-90% of the currency can be kept offline. Bittrex prevents any security breach by following strict authentications and high-end technology, featuring a custom trading engine that relies on elastic computing technology (a Trading engine that supports instant transactions). Continues updates have made Bittrex a more secure Exchange over time, indicating a growing interests in securing customer Funds
Interface
Known for it’s speed, traders can expect to execute Trades without delay, however it does take some time to get the hang off it. The fact that Bittrex offers it’s users over hundreds of Cryptocurrencies paired to Bitcoin & Ethereum , make it one of the most popular Altcoin Hubs. While Bittrex does not offer fiat trading pairs such as the USD, EUR or YEN they do offer USDT, this makes this particular exchange ideal platform for those interested to trade their Bitcoin to a more popular Altcoin. The platform itself is not so user friendly and requires some time to get used too
Overall Review
Whether you are new to trading and Cryptocurrencies, or a veteran to both, this Altcoin Exchange was created for you! Bittrex is the go-to spot for traders who demand lightning-fast trade execution, stable wallets, and industry-best security practices
Even though you don’t buy Bitcoin using Bittrex with Fiat, you’ll still end up trading on it due to variety of Altcoins offered and for the liquidity backing some the more popular pairs. Since Bittrex recorded higher trade volume than Poloniex, it has since been the go-to Exchange to trade Altcoins
When compared to Poloniex, Bittrex seems to be more user friendly and you’ll find that speed of transaction such Deposit/Withdrawal take less time to be credited to the Account. Poloniex used to record higher trade volume, however Bittrex is leading the way now and is officially recognized as the third largest Exchange as of October 2017
The fact that it supports both new and established Crypto-currencies, giving you with an ever-growing collection of trading and capitalizing opportunities. As for now, Bittrex remains my favourite place to trade Altcoins and I definitely would recommend it as a Platform to buy/sell Steem or Steem Dollar