Cryptocurrency Definitions: Bittrex

Cryptocurrency Definitions: Bittrex

Bittrex is one of the most prominent crypto currency exchanges at the moment. It is relatively new on the market, yet currently holds a place as of one of the largest multi-altcoin cryptocurrency exchange. In 2017 the overall daily trading volume is, $156,110,15, making Bittrex a top 10 exchange by volume. Bittrex is one of the fastest exchanges to get signed up and verified with. You can trade over 200 cryptocurrencies on this exchange, and it has good support and security relative to the majority of other exchanges out there. Majority of the user funds in cold storage, and have 2- factor authorization.

The platform is good for beginner altcoin traders that haven’t clearly defined their trading goals or ones that definitely do not require leverage in their trading. Beginners will find a decent liquidity without too many unforeseen counter-party risks. Plus altcoin liquidity is sometimes comparable, or in some cases higher than other big altcoin exchanges and that trend should continue to follow through, as bittrex is becoming less of a backup exchange and more of a mainstream option for altcoin traders.

Bittrex unfortunately doesn’t have any margin trading right now, but they plan to have a site relaunch at the end of 2017 that will include leverage. The liquidity is below average compared to other exchanges, and executions are quite poor sometimes, with waits as long as 10 minutes. Trading fees are rather high at .25%, which is pretty significant compared to other exchanges. There is no in house mobile app either.

Cryptocurrencies are an incredible new and exciting frontier in the financial markets. To prepare yourself to capitalize on this exciting new opportunity, check out our Cryptocurrency Trading Chatroom.

Bulls on Crypto Street is a trading education website dedicated to cryptocurrencies. We teach strategies for swing and day trading cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and other Altcoins. We're at the forefront of this industry and are continuously providing up to date information on each coin, regulations, news, token sales, and much more.

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