Here are a few other differences between Bittrex and Kraken:. Bittrex offers relatively low fees and a secure way to purchase Bitcoin and other popular cryptocurrencies. Kraken offers more crypto assets for direct purchase and has lower overall trading fees than Bittrex, which could make it a better option for active crypto traders. Bittrex is a centralized crypto exchange offering advanced order types and other features that may appeal to experienced traders.
While not every cryptocurrency is available for direct purchase, a good selection is offered and they are making more available. Bittrex places a strong emphasis on user security, protecting user accounts with two-factor authentication and optional IP address whitelisting. Bittrex has some poor user reviews that mention lengthy account lockouts and poor customer service response times. This may be cause for concern, especially for those worried about losing access to their crypto.
Overall, Bittrex is a decent option for active traders interested in advanced order types and relatively low fees. While it could be suitable for new crypto investors, inexperienced traders may feel overwhelmed with its interface. Another exchange might be a better option for those just getting started in crypto.
The Balance is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized.
Our full cryptocurrency exchange methodology , including the data collection and review processes and weighted data points, is available for review. Securities And Exchange Commission. By Jacob Wade. Jacob Wade is a personal finance expert who has covered credit cards, investing, insurance, and tax issues for more than a decade.
He is a former IRS enrolled agent and has prepared scores of individual and small business tax returns. In addition to his work for The Balance, Jacob has written professionally for LendingTree, CompareCards, Investing Answers, and other widely-followed personal finance sites. Learn about our editorial policies. Fact checked by Michael Rosenston. Learn More. Pros Low fees Available in well over countries Strong security features Over trading pairs available.
Cons Not all cryptocurrencies are available for instant purchase with U. Key Takeaways. Bittrex is a centralized cryptocurrency exchange where users can buy, sell, and trade crypto. Bittrex offers advanced trading charts and order types, including trailing and ladder orders. Bittrex is a U. Year Founded Official Website www. Company Overview. Trading Experience. Opening an Account. Customer Service. Customer Satisfaction.
Account Management. Introduction Bittrex is a cryptocurrency exchange that allows users to buy, sell, and trade supported cryptocurrency. Trading crypto on Bittrex may be too advanced for new crypto traders. This helps prevent would-be scammers from withdrawing funds to their wallets.
IP Address Whitelist: Bittrex allows users to whitelist specific IP addresses, meaning that only authorized devices mobile or computer using specific IP addresses can access the account. This helps prevent outside attackers from logging in to user accounts. Disable Account Email Link: Users can disable their account with a single click using a link provided via email. This email is sent when a user from a new IP address logs into your account. Opening a Bittrex Account Signing up for Bittrex is simple.
Customer Service Bittrex offers email support, the ability to open support tickets, and an automated chatbot to help users find answers to specific questions. Customer Satisfaction Bittrex has received several customer complaints, mostly related to its account verification process and users being locked out of their accounts. Final Verdict Bittrex is a centralized crypto exchange offering advanced order types and other features that may appeal to experienced traders.
Article Sources. The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Crypto See more articles.
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