Bittrex cryptocurrency exchange Review: The United States is in first place in the ranking of states using blockchain technologies in various sectors of the economy. There are many cryptocurrency platforms operating in the country. Including old ones like Kraken, Coinbase, Poloniex and Bittrex. Users interested in trading virtual assets are often looking for exactly American trading platforms that are distinguished by optimal working conditions, reliability and the presence of legislative regulation.
Bitrix cryptocurrency exchange was founded in 2014 as an ordinary Internet exchanger. The service quickly became popular and the following year expanded its functionality to the level of a full-fledged exchange. The Bittrex trading platform has a variety of financial, trading and analytical tools for successful trading. And so the Bitrix exchange, registration and trading rules on the service.
Registration on the exchange
To create an account, you need knowledge of English or a translation program, the Bitrix cryptocurrency exchange does not support the official website in Russian. However, for those users who already have at least minimal experience of working on virtual platforms, the site of the Bitrix exchange is intuitive.
The official website of the exchange – https://international.bittrex.com
- Click ” Sing Up ” and go to the registration page.
- Enter your email address.
- Create and confirm a password. Requires at least eight characters in different layouts.
- Press the ” Sing Up ” button and see a message stating that an email has been sent to the specified email with a link to verify the email address.
We open the letter in the mailbox and follow the link.
Please note, according to the rules of the client agreement, it is forbidden to use Bittrex services, residents of a country which is embargoed by the United States or the UN Security Council.
After logging in, you will immediately be taken to the verification page. You can leave it and go directly to the trades or the deposits page. But keep in mind that the exchange does not allow withdrawal and deposit of funds for accounts that have not passed identity verification on the official Bitrix website. The rules for using the service indicate a zero daily withdrawal limit for accounts that have not been verified. But in reality, the system simply will not generate a deposit address. Therefore, it is better to start the verification procedure right away.
How to pass verification and security settings correctly
If you still left the verification page, click ” Settings ” in the upper right corner and select ” My Profile “.
Заполните все поля, используя английскую раскладку клавиатуры. Официальный сайт криптовалютной биржи битрикс на русском языке не работает, поэтому символы из кириллицы не будут считываться, и проверка не удастся. Помните, только лица, прошедшие проверку, могут выводить средства с Bittrex. Когда вы заполните все пункты, нажмите «Submit» и «Start Verification».
Еще в прошлом году клиенты торговой площадки Bittrex выводили до 3000$ в день пройдя базовый этап верификации. Не требовалась загрузка паспортных данных и селфи, но теперь полная верификация необходима для всех без исключения.
После щелчка кнопкой мыши по «Start» вы увидите следующую страницу. Выберите тип документа:
- Идентификационная карта;
- Водительские права.
It is required that you take a photo of the document and take a selfie (face photo) to verify your identity.
The exchange strongly recommends using a passport for the identity verification procedure. Images can be captured by a camera on your device or downloaded from a file. Do not use a document photo or professional photo for selfies.
When the data is sent, it will take a few minutes for the system to process your information, ID and photo.
If an error occurs during this process, a message appears describing the problem. In this case, click the “Support” button at the bottom of the page. Select ” SUBMIT A REQUEST ” to submit the file to support and wait for a response from the Bittrex agent.
После того как проверка завершена, нужно включить двухфакторную аутентификацию. Если этого не сделать, ежедневный лимит на битрикс вывод будет составлять 1 BTC, а после включения 2 FA его поднимут до 100 BTC. Впрочем, двухфакторку нужно включать в любом случае из соображений безопасности аккаунта.
Порядок включения 2FA стандартный:
- Установите Google Authenticator на мобильный гаджет.
- Нажмите сканировать штрих код.
- Добавьте аккаунт в утилиту 2FA на андроид-устройстве и введите полученную комбинацию цифр в графе Authentication Code на сайте биржи.
Click Enable 2FA, but remember to save the private key displayed under the Qr code on the Bittrex website before doing so. It will help you restore two-factor in case of loss or flashing of a mobile gadget. If you don’t have a mobile device, you can still enable 2FA on your PC using the winauth or authy program .
As soon as you enter the six-digit code and click on ” Enable 2FA “, an email will be sent to you. Follow the link in the letter and enter the code that will currently be displayed in Google Authenticator on your mobile device.
And so we finished with the verification, it remains to find out the question: ” How to work on bittrex “?
How to withdraw cryptocurrency from the exchange to your wallet
Withdrawing funds from the Bittrex exchange is quite simple:
- Go to ” Wallets “.
- Click the red circle with the arrow pointing up.
- Specify the address and the amount of withdrawal from Bitrix.
- Go to the mail to confirm the withdrawal.
If everything is in order, you will see a message from Bitrix, Exchange Output Authorized. It remains to wait for the completion of the operation.
How to use the platform
After completing the verification, you need to replenish the bittrex deposit. To do this, in the ” Wallets ” section , select the coin you need, click the green circle with an arrow down and in the window that opens, click ” Gentrate new wallet adress “. You will receive an address for sending funds.
Once there was no fiat money on the Bitrix exchange, but now you can fund your account with US dollars. To enable fiat deposits and withdrawals, the Bittrex administration must first approve your bank account.
However, you can use dollars in the trading process without additional verification. But if you want to carry out the deposit and withdrawal of Bitrix with fiat money, you must provide a letter issued by the bank or an account statement indicating your passport data and bank details.
One client is allowed to have several bank accounts. You will be sent instructions on how to make deposits and withdrawals in fiat when the bank account is added.
Residents of some American states cannot use this Bitrix service. Therefore, all persons residing in the United States must prove that they live and work in the territory of the state that is not subject to the ban.
We go to Markets, everything here is not located in the same way as on most cryptocurrency exchanges. In the middle there is a list of trading pairs.
Columns with exchange pairs USD, BTC, ETH and USDT follow one after another. It is necessary to select the trading pair you are interested in.
To do this, there is a Find field in the upper right corner of each list. Enter the name of the desired altcoin and, if supported, a separate line for this trading pair will appear. Click on it and go to the next Markets section, where it will be available:
- course schedule;
- order form;
- list of open orders;
- history of trades.
Перейти в другой раздел можно в коленке слева, выбрав одну из четырех обменных монет. Ордера на покупку и продажу на Bittrex совмещены, выбирайте Buy или Sell и заполняйте формуляр.
Как торговать на бирже Битрикс
Bittrex стремится обеспечить справедливое и эффективное формирование цен. Существуют ограничения и утверждения предназначены для улучшения общей практики торговли на площадке.
Bittrex оставляет за собой право закрывать ордера, которые выходят за пределы обычных ценовых границ. Любой заказ, который превышает 50% — 200% от последней цены, будет отменен через 28 дней.
Заказы, соответствующие следующим условиям, будут автоматически отменены через 24 часа.
- Любой заказ на покупку, цена предложения которого составляет 12,5% или меньше от последней цены
- Любой ордер на продажу, который составляет 800% или более от последней цены.
The minimum BTC trading value for orders is 50,000 Satoshi (0.0005 BTC).
There is also a minimum number of trades, which varies depending on the market. All minimum trading volumes can be found in the public domain:
API https://bittrex.com/api/v1.1/public/getmarkets. MinTradeSize refers to the minimum trade size for each market.
Bittrex actively opposes any type of market manipulation. In accordance with the service rules, all accounts involved in this type of activity will be blocked and notified to the appropriate authorities.
You need to know what fees are charged by Bitrix exchange. Commission for transactions is calculated according to the formula – amount * purchase price * 0.0025. Any part of the order that has not been completed will be fully refunded upon cancellation.
- Deposits are not subject to duties.
- Withdrawals and withdrawals on the Bitrix exchange are duty-free, including for fiat money. You pay for the transaction of the cryptocurrency network or the commission for the transfer of funds set in the bank where you have an account.
Margin trading on Bittrex is not yet available, the issue is under consideration.
What is pending deposit at Bittrex
If you withdraw from the exchange or deposit cryptocurrency on Bittrex, you must wait for a certain number of transaction confirmations. Until that time, your deposit will be in a pending state.
Now consider the case where bittrex blocked the account (what to do). Typical mistakes.
- 2FA_FAILED – The code you entered has expired or is invalid. Wait for the new code on your device and try again.
- PASSWORD_RESET_24H_LOCK – withdrawal blocked due to password reset within the last 24 hours. Wait until 24 hours have passed since the reset.
- LOGIN_2FA_LOCK_2M – wait at least two minutes after logging in.
- WHITELIST_VIOLATION_IP – The IP you are trying to opt out of is not in your whitelist of IP addresses. Add your current IP address to your whitelist to log in.
- WHITELIST_VIOLATION_WITHDRAWAL_ADDRESS – the address to which you withdraw funds is not in your whitelist. Add it to your whitelist to execute the output.
Possible reasons why your account may be disabled:
- You asked to deactivate your account
- There is a suspicion that your account has been hacked and disabled.
- You tried to verify your account using a document that is already registered on the exchange.
- Your account has been involved in irregular trading activity.
- You have violated Bittrex’s terms of service.
For all questions related to account blocking and other difficulties, you need to contact technical support. Please remember that the service is in English only.
Advantages and disadvantages of the platform
The main advantages of Bittrex:
- Security – funds are stored in cold wallets, a multi-level security system has been developed.
- Comfortable trading – the exchange works with other platforms (Votfix) and there is the possibility of algorithmic trading through extensive APIs.
- Strict adherence to legal regulations.
- The new token of the bittrex exchange undergoes a thorough analysis, which excludes the penetration of SCAM projects.
The main disadvantages of the platform:
- No Russian language support.
- There is no margin trading.
- The need for identity verification.
Since the exchange is already quite old, the affiliate program does not work here. Bittrex is obsessed with security issues and at the slightest suspicion of hacking, they block the account, and the support service is not always in a hurry to consider appeals.
It must be said right away that the Bitrix exchange deserved very diverse reviews. Some people don’t like the lack of a chat and a referral program. For others, the minimum transaction amount seems to be greatly overestimated and, of course, for many, the complete absence of the Russian language is difficult.
But on the other hand, the mechanism of trading and withdrawing funds does not cause any complaints.
Having made a detailed analysis of reviews about the Bitrix exchange, we can draw conclusions:
Bittrex is a trusted cryptocurrency exchange. The management of the exchange takes care of the safety and usability of the service. If mandatory verification and the minimum transaction amount of 50,000 satoshi is not a problem for you, you can start trading on Bittrex.