Bittrex is a popular cryptocurrency platform that has its origins in the United States. This resource was originally considered an online exchanger for digital assets, but then grew into a full-fledged trading area. Bittrex has been operating since 2015 and allows you to work with thousands of cryptocurrency pairs, has two-factor authentication and cold storage of most users’ assets to protect against possible system failures.
Bittrex history
Bittrex cryptocurrency exchange appeared in trading in 2014. The project developers are experienced specialists headed by Bill Shikhara.
The resource is currently regulated by the European Union and the Government of Malta. In addition, the site complies with all US regulations.
It is worth noting that, before implementing its platform, the creator of Bitrix for 11 years worked on the Windows operating system, was a security manager at Amazon, and created a security program for the BlackBerry ecosystem.
It is noteworthy that other members of the company also have experience in IT corporations and the security sector.
Initially, Bittrex played the role of an online exchange for digital assets, but the professionalism of the developers allowed it to grow into a full-fledged trading exchange. And now users from all over the world make profitable deals using this resource!
Working conditions
Of course, before starting work with any trading platform, you need to familiarize yourself with the working conditions. So let’s take a look at what the Bittrex exchange offers to its potential clients!
Trading pairs
The platform currently supports 669 currency pairs and 1 fiat (US dollar).
It is worth noting that the listing contains absolutely all top tokens: Bitcoin, Ethereum, Ripple, Litecoin, Cardano, NEO, Dogecoin, and many others. In addition, the project does not forget about the little-known coins.
What do we have at the end? An excellent set of digital assets with high liquidity contributes to efficient trading in the cryptocurrency market. Everything is quite logical!
Commissions
The trading commission for any transactions is 0.25%. If the order is partially executed, the commission will be deducted only from the part that will be bought/sold. The minimum trade size is 0.0005 BTC.
About withdrawing funds, it involves charging 0.001 BTC (or the equivalent). But the account replenishment has no restrictions and is made without commission.
How to trade on the Bittrex exchange?
Any trading operations on the platform’s website are performed using the “Sell” and “Buy” keys, respectively. The trading terminal looks pretty simple and straightforward.
First of all, the trader needs to indicate the currency pair. After that, the current schedule and all the information on the given duet will open in front of him. Below the chart, some orders are used to buy/sell digital assets.
To create a new order, you just need to specify its type, value, and a number of tokens. Do not forget about the exchange commission for any transactions (0.25%), regardless of the trading volume!
How to trade on the Bittrex exchange?
It is logical to assume that the maximum profit is achieved thanks to currencies with a high level of liquidity. This means that it is profitable to use assets that are quickly sold at a price close to the market value at the time of the transaction.
Types of orders
So, at the moment Bittrex supports two types of orders:
Limit. It is executed when the price reaches a predetermined limit. The use requires a counter order in the market with a similar value.
Stop Limit. A combination of stop and limit orders. Such an order implies two values - stop price and limit. Used to reduce losses from possible asset slippage. That is, the price reaches the ceiling and opens a new order for a positive outcome of the trade.
It is worth noting that Bitrix offers its clients algorithmic trading via API. This option automates the trading process using third-party services. Unfortunately, margin trading with leverage is not supported.
