Review
Updated
Bittrex offers just about everything crypto investors need in an exchange. It has robust security, reasonable trading fees, and more cryptocurrencies available than most of its competitors. However, there have been some complaints about its customer service. Read this detailed Bittrex review to decide if it's the exchange for you.
Ratings Methodology
Bottom Line
An exchange that checks all the boxes in terms of features, with lots of crypto trading options, advanced tools, and educational content. Beginners may find it has a bit of a learning curve, and the customer support could be better.
Fees:
0.00%-0.35%
Account Minimum:
Approximately $3 minimum trade amount
Full Bittrex review
This cryptocurrency exchange is a good fit for: Active investors who want to carry a variety of cryptocurrencies in their portfolios.
Pros
- Highly secure
- Excellent cryptocurrency selection
- Low fees
- Advanced trading tools
- Educational content
Cons
- Mediocre customer support
- Challenging for beginners
Top perks
Highly secure
Security is always an important consideration when choosing a crypto exchange. Fortunately, this is an area where Bittrex excels.
Three cybersecurity engineers founded Bittrex, and they prioritized building a safe platform for crypto trading. This exchange has several measures to protect its clients' funds, including:
- Cold storage of crypto assets
- Insurance
- Address whitelisting that lets you set up approved withdrawal addresses for your account
SEE MORE SECURE CRYPTO PLATFORMS: Best Cryptocurrency Apps and Exchanges
Excellent cryptocurrency selection
There are over 140 cryptocurrencies available on Bittrex. With so many types of cryptocurrency to choose from, it's perfect if you'd like to invest in some smaller tokens outside of the big market leaders.
Low fees
Trading fees on Bittrex start at 0.35%, and they can get lower depending on how much crypto you trade. It doesn't quite have the lowest fees we've seen, but it's definitely one of the more affordable crypto exchanges.
Advanced trading features
Bittrex has several order types, including limit orders and stop orders, advanced charting tools, and live order books. If you're looking for advanced options, this exchange should have the features you want as you invest in crypto.
Fast trading execution
Bittrex has a custom-built trading engine designed for executing trades quickly, even under heavy demand. This is a valuable benefit for active investors who want to capitalize on price movements.
Offers Cardano staking
If you hold Cardano (ADA), which is available for purchase on Bittrex, you can stake it through the exchange and earn up to 5.5% in rewards. Staking is a great way to grow your crypto holdings, and Bittrex makes it easy to do.
LEARN MORE: What Is Staking in Crypto?
Educational content
Bittrex offers an impressive library of educational resources in its Discover section. You'll find articles on a wide variety of crypto topics, such as how crypto mining works and what you need to know about crypto taxes. The exchange also has detailed breakdowns on over 100 cryptocurrencies, which is extremely helpful if you're trying to learn more about whether a cryptocurrency is a good investment.
Referral program
If someone you know signs up for Bittrex through your referral link, you'll earn 10% on all the trading commissions they pay (subject to certain limitations set forth in the program terms).
Unless your referrals are some serious crypto whales, this won't exactly be a lot on most trades, since Bittrex's highest trade fee is 0.35%. Still, it's nice that Bittrex has a referral program -- and that you'll get a cut every time your referrals make trades.
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What could be improved
Mediocre customer support
Customer service on Bittrex is average at best. There's no phone number or email address to contact the exchange directly. If you have an issue and require assistance, you can either file a ticket with Bittrex on Zendesk or use its live chat. Note that live chat is only available to Bittrex clients who are logged in to their accounts.
There have been complaints about very long wait times to get an answer from customer support. To be fair, every crypto exchange has disgruntled customers. But based on the reports, Bittrex's customer service needs work.
Challenging for beginners
The Bittrex trading platform has quite a bit of information and features. While that's generally a good thing, it can be a little overwhelming for newer investors looking for a simple way to buy and sell crypto. There are more beginner-friendly cryptocurrency exchanges out there.
Only offers rewards on one cryptocurrency
The fact that Bittrex lets you stake Cardano and earn rewards is a plus. However, it's disappointing that this is only an option with one of the many cryptocurrencies Bittrex offers.
Several other exchanges have better rewards programs that let you stake or lend multiple cryptocurrencies. Bittrex falls a bit short in comparison.
RELATED: Check out The Ascent's guide to the Best Crypto Staking Platforms
Unavailable in four states
Bittrex isn't available to residents of the following states:
- Connecticut
- Hawaii
- New York
- Vermont
Alternatives to consider
If you want a beginner-friendly crypto exchange: Coinbase is a standout here, as it makes buying and selling crypto very easy and straightforward. This exchange also offers fantastic articles and videos and will even give you free crypto for completing its educational modules.
If you want to earn interest on your crypto: You'll be able to earn competitive interest rates on several cryptocurrencies with Gemini. Its Gemini Earn program allows you to lend out crypto. Plus, there are no hidden fees, it's available everywhere in the U.S., and you can withdraw your assets at any time.
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| Rating |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| Commissions |
Variable fees (Coinbase), 0%-0.80% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
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$0.99-$2.99 orders < $200, 1.49% for orders at least $200 (default), 0% - 0.40% (Gemini ActiveTrader)
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| Next Steps |
How Bittrex works
Bittrex is an exchange that gives you access to a wide selection of crypto markets. After you sign up for an account, you can buy, sell, and trade cryptocurrency. You can deposit money to your account through an ACH transfer from your bank account or a money wire.
It's worth noting that not all of the cryptocurrencies on Bittrex can be purchased with U.S. dollars. Many of its cryptocurrencies are only available if you trade for them with another cryptocurrency, such as Bitcoin (BTC) or Tether (USDT).
Fees overview
Bittrex bases trading fees on your 30-day trading volume. Fees get lower as your trading volume increases.
The exchange also uses a maker/taker fee model. If your trade order is filled immediately by an existing order on the order book, you're charged the taker fee, as you're taking liquidity from the market. If it isn't filled immediately by an existing order, then you're charged the maker fee, as you're adding liquidity to the market.
Here is the Bittrex trading fee schedule:
| 30-day Volume (U.S. Dollars) | Maker Fee | Taker Fee |
|---|---|---|
| Under $25,000 | 0.35% | 0.35% |
| $25,000 to $50,000 | 0.25% | 0.30% |
| $50,000 to $100,000 | 0.15% | 0.25% |
| $100,000 to $1,000,000 | 0.10% | 0.20% |
| $1,000,000 to $5,000,000 | 0.06% | 0.16% |
| $5,000,000 to $10,000,000 | 0.05% | 0.15% |
| $10,000,000 to $60,000,000 | 0.02% | 0.10% |
| $60,000,000 to $100,000,000 | 0.00% | 0.08% |
| $100,000,000 or more | 0.00% | 0.05% |
Source: Bittrex.
There are no fees for deposits in U.S. dollars or for withdrawals made through an ACH transfer to a bank account. Bittrex charges a $25 fee for wire withdrawals.
Cryptocurrency selection
Bittrex has over 140 cryptocurrencies available for trading. That's one of the largest selections we've found, and it includes both the largest digital currencies and plenty of smaller tokens.
The most notable gap in this exchange's lineup is Solana (SOL), one of the most popular altcoins. While many other crypto exchanges list Solana, you won't find it on Bittrex.
RELATED: Best Places to Buy Solana
Is your cryptocurrency safe with Bittrex?
Bittrex places a heavy emphasis on security, and it ranks among the top crypto exchanges in that regard. As mentioned above, it was founded by three cybersecurity engineers, and it has quite a few features aimed at keeping its clients' crypto funds safe.
Here are some of the most important:
- Two-factor authentication (2FA) for all users: This guards against unauthorized access to accounts. When 2FA is enabled, Bittrex requires your password and a code sent to your mobile device to log in.
- Majority of crypto funds in cold storage: That means those funds are stored in offline devices. Cold storage is the safest way to store crypto, since hackers can't access it while it isn't connected to the internet.
- Insurance policy on crypto funds: In 2020, Bittrex announced it was taking out an insurance policy protecting its crypto assets in cold storage against external theft and internal collusion. The policy covers up to $300 million in losses.
- Can whitelist IP and crypto wallet addresses: When you whitelist IP addresses, Bittrex will only authorize trades and withdrawals from those IPs. When you whitelist crypto wallet addresses, Bittrex will only allow withdrawals to those addresses.
Bittrex is right for you if:
- You want to be able to buy, sell, and trade a large number of cryptocurrencies.
- You trade cryptocurrency often and you're looking for advanced trading tools.
- You prioritize security and speed in a crypto exchange.
Our Cryptocurrency Expert
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Lyle Daly owns Bitcoin, Tether, Cardano, and Solana.
Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Lyle Daly has positions in Bitcoin, Cardano, Solana, and Tether. The Motley Fool has positions in and recommends Best Buy, Bitcoin, Cardano, Solana, and Target. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.