If you have NO Currency to trade yet..Purchase your coin at coinbase first…
Now that you have your Currency… Lets start trading!!
Bittrex.com – The Crypto Currency Trading Platform!
When looking for new websites that trade crypto currencies, you would always ask yourself, is this legit?
Granted at the moment, it seems everything to do with Crypto Currency is too good to be true.
With that being said, is Bittrex a legit website to trade BTC with other crypto currencies?
Bittrex.com has been operating for a long time, in the U.S. since 2014. They claim to be the next generation in crypto currency trading. They are backed up by security and development experience from companies like Microsoft and Amazon, they might just be the people you want to do business with.
Their team has an impressive combined experience when it comes to security.
If your ready to jump straight into Crypto Trading – Don’t Delay – Verify your account and START NOW!!!
The How to and Requirements for you to get verified with Bittrex:
Basic Verification requires
Date of birth
Complete Address with Postal/Zip Code
Passport Number (Optional)
Mobile phone number (mobile number provided should be able to receive SMS messages)
Enhanced Verification entails
You need to complete your Basic Verification first in order to proceed to the third level of verification.
It’s quick and easy to register an account with no problems at all.
Then you need to enhance your verification – This will allow you to withdraw up to 100 BTC.
Enhanced verification would require you to submit scans of your identification along with your selfies. They work together to verify the ID’s submitted and does the face verification process.
Some peaople are hesitant to hand over such details, but it actually helps protect you, and the business from fraud.
Account Limits for Bittrex.com Trading Account
Due to the Bittrex team experience when it comes to software security, they made sure that their customers would feel secure in using their services. They take security seriously.
A change of password in your account would mean that you cannot make any withdrawals within the next 24hrs.
If you do not have a 2FA integrated into your account, you will only have a daily limit of 1 BTC withdrawal or equivalent per day.
Unverified Account – 1 BTC per day or equivalent
Basic Account – 3 BTC per day or equivalent with 2FA enabled
Enhanced Account – 100 BTC per day or equivalent with 2FA enabled
All trading done within Bittrex.com will incur a charge of 0.25%. One to buy and one charge to sell. So Each trade will cost you 0.5% Which compared to a share trader charging between $15 and $30 per trade, makes this a lot of fun at little cost.
Once logged in, you will be greeted with the available Bitcoin markets that you can trade with. Clicking on the BITTREX icon brings up the markets. You can use either your BTC (Bitcoin) or your ETH (Ethereum) to trad with. And from these 2 markets, you can trade with almost any other ALTCOIN.
On the trading window, you are able to see two sides, this would be the “Buy” and “Sell” windows. You can manually enter the amounts you want to buy or sell in the space provided. Manual entry of amounts also means that you need to punch in your price manually as well.
You can also use the Order Book located on the lower part of the page. If you click on either side of the boxes, this will auto-populate your trading windows on the value that you have clicked. This would come in handy if you want to know the current asking price for the trade is.
They also have automated features like GTC (Good till canceled) and IOC (Immediate or Cancel) which you can setup by clicking the button located in your trade window.
GTC – Good Till Cancelled is the default setting. This means that the system would continue to look for your buy/sell post until this is fulfilled.
IOC – You would buy/sell your crypto currency for your price. If any portion of the currency being sold or bought cannot be fulfilled, this will be canceled immediately.
Security by Bittrex.com
As mentioned at the start, the company is being handled by a group of “security freaks” that are focused on keeping their customers safe at all time. Even tenured security experts in the world know that there is no such thing as a “perfect system” or software that can keep you safe, but they try their best to do so.
Bittrex offers 2-Factor Authentication which is always great when it comes to trading websites. I strongly advise using the Google Authenticator for the 2FA’s that you would be doing. Not just for this website, but for all your online transactions.
Trade with the help of a BOT..
Bittrex Review Conclusion
Bittrex.com offers a trade service with very good security options that you can use to your advantage. The website acts as a wallet and at the same time a trading platform for your crypto currencies. The verification process is still a question for me. Customer service is something that I do not want to count on due to negative reviews. Overall, they need a lot of improvement in a lot of things other than security.
Sign up today and start trading!!
Bittrex.com – The Crypto Currency Trading Platform!
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