Crypto Exchange Explained

Cryptocurrency Exchange Guide: Bittrex

The Seattle based cryptocurrency platform started operation in 2013 by Bill Shihara, Rami Kawach, Ryan Hentz, and Richie Lei. The former Microsoft security professionals have encompassed good security measures in the platform to make it safe from external threats and hacks. The easy-to-use trading interface is sleek and houses different types of cryptocurrencies.

The Bittrex platform is touted as the next generation trading platform as it is highly reliable and secure. It delivers the fastest trading solution for people, which has helped in building a solid reputation. It has two-factor authentication to ensure the account’s security. The positive feature is that it has not reported any major hacks to date.

The exchange charges 0.25% of a trade’s profit as its fees. It charges no fees for deposits while the withdrawal fees depend upon the network transfer fee of the coin. The paper copies of the electronic records are charged at $ 10 along with $1 per page as the shipping and handling charges.

The crypto-to-crypto exchange earlier allowed payment using the Bitcoin, but from 2018, it has come to an agreement to allow the users to swap their dollars for the cryptocurrency. Therefore, it has begun to process the fiat deposits and withdrawals.

The world-class trading platform requires no ID for the basic accounts as the users can start trading by simply providing the name, email id, and the date of birth. But, for advanced users, a photo ID and passport for the verification process. People from USA and others around the world can upload the passport copy to complete the authentication.

Though the exchange is available to international users, it is not available in some parts of the US, China, and the countries facing the economic ban from the US government (like Iran, North Korea, Cuba, Crimea, Syria, etc.)

This digital currency exchange system is also US-based five years old cryptocurrency exchange which deals with the majority of cryptocurrencies. This exchange is exchanging more than 190 cryptocurrencies.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Pooja Anoj is a cryptocurrency blogger who covers exciting crypto news stories and crypto guides for OWLT Market.

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