Bittrex was founded in Seattle back in 2014 by a group of cyber engineer geniuses. Since then, the company was able to maintain a pretty solid image on the market, namely because it is one of the rare ones to offer such a wide variety of tradeable assets, especially when it comes to digital coins. This is a highly desired feature by us, passionate crypto traders, let me tell you. The thrill and the rush of trading digital coins can’t be compared to many other life’s pleasures, that’s for sure.
However, as skeptical as I am, I wanted to see how were the experiences of other traders before me, and if there is something I can learn from them. And before I could make a final decision, I have to say I was astonished by the way that Bittrex is able to keep the clients locked out of their accounts, and feeding them some lame excuses about the reason for it. For a brand that was founded and regulated in the US, I’m baffled by how long they were able to pull out their scam.
Platform and Execution SCORE: 67%
The advanced platform is absolutely the number one reason that gets so many clients attracted to this brand daily. Bittrex, regardless of the name, is not oriented solely on trading Bitcoin, as most of the companies are. Rather, they are focused on constantly improving their variety of tradeable digital coins.
However, things seem to have taken a grim turn since last year, when the company reportedly was forced to ban over 30 different coins available for trading in the US. I guess the political influence takes it quite far, so I was really disappointed to see where this platform has ended up now.
Withdrawal Speed SCORE: 41%
As for withdrawals, the Bittrex trading platform seems to have a wide flow and efficient way of processing the requests by their clients to withdraw their funds. However, by what I’ve witnessed so far, I can only assume that the requests are processed so promptly because of the major lack of clients interested to trade with Bittrex.
Which brings me to my next point - the fees. Bittrex was somehow able to present its highly unacceptable fees as an advantage. However, if you have been in the game a bit longer like me, you will notice that there are so many other and more reputable brands that offer lower fees or even no fees for certain clients based on their deposits. However, with Bittrex, you will only get lured into depositing more and more each time in hopes of your fee getting decreased by less than 1%.
Support and Assistance SCORE: 55%
The customer support that handles all of your issues and requests is fairly knowledgeable and efficient, at least in my case. Though they severely lack the variety of channels through which you can reach them, they were still able to reply to me relatively briefly.
However, what I did notice is that their live chat option is on its way to be shut down, considering that you can never reach them there. I have tried getting through several times, only to receive no reply in the return. And when I talked to the helpful agent on the phone, they gave me some weak excuse about “the IT working on it”.
Education and Tools SCORE: 29%
Bittrex is completely lacking a purposeful educational section on their page. I have tried scrolling and scrolling, certain that I got my wires crossed or that I mixed things up. However, I was right - there is not a single e-book, tutorial, or helpful video tip for the people that are just visiting the platform and wish to try their luck with trading.
Still, you can find a few vaguely familiar passages that can guide you through the webpage alone. However, there are no concrete or helpful tutorials or other material that would serve us, clients, while we’re finding our way around.