Bittrex Reviews 2025: Fees, Features, Safety, Pros & Cons

Please note Bittrex has filed for bankruptcy. The review below is being kept only for histroic information.

Bittrex is a veteran US-based global cryptocurrency exchange that launched in 2014. It’s located in Bellevue, Washington but serves customers in several countries. It’s one of the top 30 cryptocurrency exchanges according to CoinmarketCap rankings, with a rating of 5.1.

The platform mainly supports crypto-to-crypto trading but has enabled fiat transactions for purchasing crypto as well.

Bittrex exchange lists around 400 cryptocurrencies, including several altcoins. US-based users who want to invest in low-cap altcoins can find several lesser-known digital assets on the platform. 

The Seattle-based exchange offers a simple buy feature, an advanced spot trading interface, and staking opportunities for a few digital assets. The platform doesn’t offer futures trades or margin trading.

The exchange had its fair share of troubles with authorities and regulators and recently stopped offering services in Canada. In the US, it has been fined over 50 million dollars for its lax anti-money laundering (AML) stance and violation of US sanctions.

In this Bittrex review, we’ll look into all aspects of the exchange, including the fees, features, and possible issues with the platform, so you can decide if it’s the right exchange for you.

Pros & Cons of Bittrex Exchange

Pros

• Over 400 coins are available
• Supports fiat deposits

Cons

• Fined for lack of AML procedures
• Lists several altcoins that are pump-and-dump schemes
• Received a lot of criticism regarding its security monitoring

About Bittrex 

In 2022, the US Department of Treasury announced that Bittrex would pay over $24 million and $29 million in fines to the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC).

The announcement stated that Bittrex violated US sanctions by allowing traders from Syria, Sudan, Ukraine, Cuba, and Iran to trade over 250 million between 2014 and 2017. The exchange didn’t enforce anti-money laundering checks and was used in illegal and criminal financial transactions.

This isn’t out of the norm for crypto exchanges: Several others, including Kraken and Binance, have been under investigation for similar issues and were fined for violating sanctions and policies.

The fines reflect Bittrex’s actions from 2014-2017, but the exchange’s troubles with authorities remain relevant. Most recently, Bittrex left the Canadian market after it couldn’t keep up with the regulatory demands of the Canadian government. 

In 2021, the exchange delisted privacy coins Monero (XMR), Zcash (ZEC), and Dash (DASH) in a bid to comply with regulators’ demands.

The exchange failed to receive a Bitliscence from the New York State Department of Financial Services in 2019. NYSDFS published a statement regarding the exchange’s application and claimed the platforms had a “grossly inadequate transaction monitoring system.”

Crypto Coins Available on Bittrex Crypto Exchange

Bittrex Global supports over 400 digital currencies, including popular digital assets like

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT
• Cardano (ADA)
• Polygon (MATIC)
• Chainlink (LINK)
• Polkadot (DOT)
• Dogecoin (DOGE)

Most US-based exchanges list fewer cryptocurrencies than Bittrex. For comparison, Binance.US supports around 120, and Coinbase supports around 200 digital assets. With over 400 cryptocurrencies, Bittrex is an altcoin heaven for US-based traders.

However, remember that most altcoins don’t have a working product nor ever develop one. A huge chunk of the cryptocurrency market comprises mostly worthless coins that only gain value due to speculation.

A great majority of these coins are also known as pump-and-dump schemes because once they reach a high enough market value, owners who hold a big portion of the coins sell them at the peak price and cash out, leaving the asset worthless.

Pump-and-dump schemes can happen on every exchange, but global exchanges that list hundreds of altcoins are particularly vulnerable to these schemes.

Fiat Currencies Supported on Bittrex 

Bittrex supports EUR and USD deposits and withdrawals for eligible accounts from certain countries. 

To be eligible for fiat money, you have to submit an application to Bittrex with your bank statement. You may conceal private information, but your legal name, IBAN, and address should be visible on the bank statement.

You can wire transfer USD or EUR to your account after Bittrex processes your request. Your other fiat purchase options include Mastercard and Visa credit cards. You can use Bittrex’s instant buy feature to buy digital assets with credit cards.

Please note that you must complete ID verification and prove that you reside in an eligible location before depositing or withdrawing fiat money. The deposit minimum is $50, and the withdrawal minimum is $35. While Bittrex doesn’t charge for fiat deposits, withdrawals cost $25 plus any fees your bank might charge you for wire transfers.

You can check out all the deposit and withdrawal fees in the Bittrex fees section of the website.

Countries Supported on Bittrex Global

The Bittrex trading platform is available in over 100 countries. The exchange closed most of its operations in Africa in the last few years and most recently stopped working in Canada. 

You can find a full list of restricted countries on the Bittrex official website.

Bittrex Global Trading Fees

Instant Buy Fees

The Instant buy feature is quite expensive. Transaction fees vary depending on the market conditions and payment method. There is a 0.5% spread for stablecoin purchases, and a 1.5% spread fee is included in all other cryptocurrency purchases. Credit card purchases cost an extra 3% processing fee.

Spot Trading Fees

The platform uses a tiered maker/taker fee model. The spot trading fees start at 0.75% for both makers and takers, which is slightly above the industry average.

However, you can receive trading fee discounts based on your 30-day trading volume.

Deposit and Withdrawal Fees

Bittrex Global doesn’t charge deposit fees, but you have to pay 25 USD for each wire transfer withdrawal. Your bank or payment provider may charge additional fees when you deposit or withdraw fiat to the platform.

Withdrawal fees for crypto vary depending on the asset.

Main Features of the Bittrex Global Platform

Let’s see some of the most notable features of Bittrex in more detail.

Crypto Exchange

Bittrex’s crypto exchange site is where you can find hundreds of cryptocurrencies and many different trading pairs. On Bittrex, you can invest in some of the biggest crypto coins in the game as well as some of the lesser-known, newcomer coins.

You can also take advantage of the site’s advanced features, including stop orders, limit orders, live order books, and advanced charting tools. The site also has automated trading features that make it easy to buy crypto periodically.

Cardano Staking

Interestingly, Bittrex only allows users to stake Cardano (ADA). Still, having a limited staking feature is better than having no staking option at all. You can buy Cardano on Bittrex and store it on the Staking Rewards page. You can find this under the Earn Rewards tab.

As of 2022, the interest staking rewards on Bittrex are at 5.5%, and the minimum deposit for Cardono staking is 1 ADA. The longer you keep the ADA in the staking pool, the more interest you will receive.

It is important to note that it can sometimes take up to four weeks for the staking rewards to appear and that they get added to your staking amount – not to your crypto wallet.

Although you can only stake ADA for now, Bittrex may permit other coins for staking in the future.

However, please note that the Bittrex Cardano wallet has been under maintenance for months. Users haven’t been able to withdraw Cardano from the exchange for a long time, and it isn’t known when the wallet will be open again. 

How Easy Is It to Open a Bittrex Global Account?

Opening a Bittrex Global account is very easy. All you have to do is visit the Bittrex registration page and follow the instructions. As expected, you have to fill out your name, e-mail address, and some basic personal information, as well as create a password.

Once all of the above has been verified, you must complete the Know Your Customer (KYC) section. Here, you have to provide some form of ID – either your passport, driver’s license, or any other form of official ID – and wait for the customer support team to verify it. You’ll also have to take a selfie so the customer support team can verify the ID.

Once you’ve completed all the above and your account is live, you can begin trading on Bittrex. You can start trading immediately by depositing crypto to your account.

It’s a good idea to enable two-factor authentication to secure your account. 

Please remember to follow the official link we provided here. Don’t sign up on links sent to you by strangers. If you reach the Bittrex website through Google Search, double-check the authenticity of the website through the cryptocurrency exchange’s official website. 

Scammers often create fake exchange websites to fraud users into depositing their funds into their care. There are dozens of fake Bittrex websites created to steal funds. 

How Secure Is Bittrex Global?

Bittrex Global employs industry-standard security measures, including two-factor authentication and cold storage for assets. However, like many other centralized crypto exchanges, Bittrex is often targeted by hackers, so it’s not advised to leave large sums of crypto on the platform. 

There have been a few controversies regarding Bittrex’s security. The platform was famously denied a license to operate in New York, and the responsible agency cited Bittrex’s account monitoring as one of the primary reasons for the rejection.

Bittrex has been sued by a crypto trader who lost his funds after a SIM swap after he enabled two-factor authentication on his phone. The company denied responsibility for the hack since the hackers had obtained the man’s credentials through his phone. The trader had alerted Bittrex, but the funds (around 100 BTC) had been stolen by the time they took action.

Bittrex Phishing Scams

In 2022, a fake Bittrex website (bittrex.ltd) managed to become the top google search through Google Ads. Google has taken action to remove the fake site, but new ones pop up often.

Phishing scams like these steal personal information and funds from unsuspecting traders. Users are invited to deposit meager sums at first and may be able to withdraw a couple of hundred dollars in the beginning.

Once they invest in bigger sums, they find out that they have to pay thousands of dollars (usually advertised as tax or withdrawal fees) to cash out. Of course, users can never really cash out. 

Always double-check the address bar when you sign up for an exchange. Don’t sign up for exchanges by following links sent to you online. Scammers may contact you on social media or through text, pretending to approach you on a social basis before they invite you to trade crypto on these websites.

Has Bittrex Global Ever Been Hacked?

Bittrex hasn’t reported any successful hacks. 

The exchange was accused of negligence after a man lost 100 BTC after hackers stole his account by a SIM swap, and Bittrex didn’t put a hold on withdrawals after his withdrawal information had been changed.

Is Bittrex Global a Regulated Exchange?

Bittrex has an MBS certificate to operate in the US but isn’t regulated or audited by the authorities. Its application for a license to operate in the state of New York was rejected by the authorities in 2019. 

How Does Bittrex Global Compare to Other Crypto Exchanges?

Let’s see how Bittrex compares to Coinbase, another US-based crypto platform.

Fees

Bittrex spot market fees start at 0.75% for makers and takers, while Coinbase charges 0.40% (maker fees) and 0.60% (taker fees). Both exchanges offer fiat support, but Coinbase has more options. 

Features

Bittrex offers around 400 digital assets, while Coinbase offers around 200. Overall, both platforms offer access to diverse markets. However, Coinbase has a much higher trading volume, liquidity, and traffic compared to Bittrex. 

Moreover, Coinbase offers several earn products and more features overall.

Security

Please note that neither platform has undergone an official audit by an independent auditor. We have no way of knowing how secure these platforms are without audits.

Coinbase has a good reputation but has been hacked in the past. Bittrex hasn’t reported a hack since its launch.

In general, it’s a good idea to avoid leaving huge sums of crypto in centralized crypto exchanges. Your savings might be stolen or lost if the exchange is hacked or becomes inaccessible due to regulations. 

Does Bittrex Global Have an App?

Bittrex has a mobile app that allows you to participate in crypto and dollar trading – just like the desktop version. The app performs all the features of a regular cryptocurrency exchange, in addition to being able to trade, buy, and sell crypto assets while on the move.

The Bittrex app is available on iOS and Android and can be found on both the App Store and Google Play.

Make sure you download the official app, as there are unofficial scam apps that can use your information to access your funds.

Bittrex Review: Final Thoughts

Bittrex is popular in several countries and is known for listing a large number of altcoins. The platform features a spot market, an instant buy feature, and staking opportunities for Cardano. However, the platform is also known for putting certain asset wallets under maintenance for long periods of time without updates. 

While the platform hasn’t reported a hack, its security and compliance with regulations have been criticized by users and government authorities. The company recently settled with authorities to pay over 50 million in fines due to its failure to enforce AML checks on traders.

Overall, Bittrex can be an altcoin heaven for US-based traders who want to invest in low-cap coins. It features more altcoins than any other US-based exchange, but it doesn’t have the reputation of some of its biggest competitors like Coinbase or Kraken. 

To learn more about other cryptocurrency exchange platforms, check out our post on the Best 22 Crypto Exchanges and 8 Alternatives.

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