Bittrex is one of the largest crypto to crypto exchanges in the market today. Some of the major cryptocurrencies traded on the platform include darkcoin, litecoin, and nextcoin just to mention a few. The platform features excellent security that involves a two-factor authentification process. Bittrex is a US-based crypto exchange platform with a fixed trading fee of 0.25%. Traders are only subjected to transaction fees that are specified in the blockchain of a particular cryptocurrency.
What is Bittrex?
With a million different places to buy and sell cryptocurrencies, Bittrex is a popular platform for a reason. Popularly known as Trex, the crypto trading platform offers more coins than the majority of the other platforms in the market. There are some coins that you can only get on this exchange platform.
Aside from the number of coins it offers, Bittrex Verification Time is something to reckon. The simplified signup and verification process allows you to have your account up and to running/ no more than one day. Established in 2014, the Seatle, Washington State-based exchange has recently expanded operations with an international arm in Malta.
Bittrex Malta, as well as, international.bittrex.com are both nearly identical to Bittrex as their operation are based on the same technologies. The company has achieved effective segmentation and regulation to ensure traders have an easy time on the platform.
Not to forget that Bittrex now has a banking license that allows traders to make fiat withdrawals and make fiat fundings. This together with its top-notch performance gives Bittrex a competitive advantage over other well-reputed exchanges in the market.
Bittrex Signup Process
The Bittrex signup process is simplified to ensure you have your account up and running in no time. Once you create a Brettix account, you’ll need to perform account verification before you can withdraw funds from the platform. International customers are usually automatically redirected to the international sign up page. It is recommended that you start trading only after you have successfully verified your account to avoid running into verification-related issues in the future.
Bittrex usually assigns each user a unique email address to ensure no two people share the same identification on the platform. The email address is the same you’ll use as your user name; this makes it easy to remember. The multiple security measures put in place are to ensure there are no cases of unauthorized access and misuse of the Bittrex platform. With a fully protected account, you can be assured that your funds are safe.
• Enter Email and password
Once you open the Bittrex site, the first step is usually entering your email and password after which you can read all terms of service as specified by Bittrex. You can then click on the signup button, and the verification email will be sent to your account email with further directions. The first time you log into your account, you will be required to verify your IP address, and this will be repeated each time you use a different IP address to log in. This is one among many measures put in place to ensure no one logs into your account without your knowledge.
• Verify your personal information
After verifying your IP address, you’ll need to verify your personal information to complete the signup and verification process. You’ll need to go to settings, click on ‘My Profile’ and follow the directions given on the page that opens. You’ll need to complete your personal information verification in Latin English characters. Using symbols and characters from other languages will result in a failed verification.
• Uploading a selfie
Once you are done with this step, the last is uploading a selfie, as well as, your official government identification. As an international customer, it is recommended that you use your passport. The system will take a few minutes to process the uploads after which you’ll get a notification showing the process has completed successfully. In case of an error during the verification process, a message will appear on your screen explaining what the issue is. You can easily contact Bittrex support to get assistance on how to resolve your issues.
How Long Does Bittrex Verification Take?
When the signup and verification process is done correctly, Brittex Verification Time is usually not more than 24 hours. However, you might have delays when you don’t follow the right procedure. Besides, you can always request a ticket and have the customer support team to assist you with whatever issue you might have.
Common Issues of ID Verification During Process
• Submission of the Wrong Selfie
Usually, you are required to submit a different selfie than the one included in your identification document. Submitting the same selfie will most likely result in delays.
• Improper Selection of Submitted Documents
The only tip you need for your signup and verification process is following instructions to the latter. To begin with, your ID should be readable; otherwise, the system will likely take longer than usual when verifying the information uploaded. All in all, you cannot have access to the Brittex platform if your ID cannot be verified as a legitimate document issued by the government.
• Using Non-Latin Characters to Complete Fill in Your Personal Information
Since there are counties whose IDs do not have Latin characters, Bittrex has an additional step to ensure customers are not left out. The verification process involves manual intervention. Ensure you use the Latin character set or the manual verification process to avoid any delays.
Bittrex Support – How to Get in Touch
In case you need to get in touch with Bittrex support, you can click on the support button at the bottom left corner of the support site and request for a ticket. The support team is usually very helpful, and you will get a response within 24 hours of submitting your ticket. The normal hours of operation for the support team is between 9-6 PM PST. Some of the issues you can get assistance with include;
• A disabled account
• Verification issues
• Two-factor verification
• Multiple account consolidation
• Help with orders, withdrawals, and deposits
Bittrex vs. the Competition
• Bittrex vs. Coinbase
These are two of the most popular crypto exchanges in the market. They were founded around the same time since Coinbase existed since 2012 and Bittrex was founded in 2014. These are highly secure and well-regulated platforms that ensure your account is secure.
The major difference between these two platforms is that Bittrex is a worldwide platform while Coinbase ca only be accessed by 33 countries. Aside from that, Coinbase tends to be more beginner friendly than Bittrex. Bittrex users, however, enjoy the o.25% trading fee whereas Coinbase’s trading fee stands at 1%.
• Bittrex vs. Poloniex
Both Bittrex and Poloniex were founded in 2014, and they are US-based. Poloniex was however sold to Circle Internet Finacial ltd in 2018. Even though these two platforms operate based on the same principal, Bittrex has a more experienced team. Additionally, whereas Poloniex offers only 97 coins for trade, Bittrex offers more than 190 crypto coins.
Another important thing to note is that Poloniex was hacked in 2014 while Brittex has never been hacked since the platform was founded. Besides, Brittex stores 80-90% of its currency offline and users need not worry about their funds.
• Bittrex vs. Bitfinex
These two platforms are known for being suitable exchanges for investors with experience in crypto trade. With both, you get numerous trading pairs with low fees and the opportunity for altcoin trading. Even with their similarities in nature, Bittrex and Bitfinex have notable differences.
First off, Bitfinex has a mobile app while Bittrex can only be accessed through a web browser. Bittrex, however, compensates for this shortcoming by offering an affordable trading fee of 0.25%. With Bitfinex, there is a trading fee schedule that is used to calculate fees for each trade.
Bittrex is a secure exchange that offers you numerous trading pairs with low fees. Aside from Bittrex Verification Time, the 0.25% is also a beneficial feature that makes the platform suitable for crypto trading.
Arnold Webb received a Masters Degree in Computer Science from Harvard University. Arnold currently is a full-time researcher and trader in the cryptocurrency industry. Arnold contributes content to CryptoCelebrities.co, The Bitcoin Magazine and several other publications.