Fri. Mar 29th, 2024

Beatrix Crypto Review<!-- wp:html --><p class="headline-regular financial-disclaimer">Our experts choose the best products and services to help make smart decisions with your money (<a href="https://www.businessinsider.com/personal-finance/personal-finance-editorial-standards" class="not-content-link" target="_blank" rel="noopener">here's how</a>). In some cases, we receive a commission from <a href="https://www.businessinsider.com/personal-finance/our-partners" class="not-content-link" target="_blank" rel="noopener">our partners</a>; however, our opinions are our own. Terms apply to offers listed on this page.</p> <p><em>*Note: Beatrix recently filed for bankruptcy in Delaware a few months after being sued by the Securities and Exchange Commission (SEC) on allegations that the platform was operating an illegal securities exchange, broker, and clearing house in the U.S. Bittrex is believed to have more than 100,000 creditors, with an estimated range of $500 million to $1 billion worth of liabilities and assets.</em></p> <p><strong>Bottom line:</strong> <a href="https://bittrex.com/">Bittrex</a> is best for security-forward crypto traders looking to trade bitcoin and a wide variety of other altcoins. The platform also offers corporate accounts, so it could also be a good fit for institutional clients.</p> <h2>Is Bittrex Right for You?</h2> <p><strong> Bittrex Pros</strong><strong> Bittrex Cons</strong>Low account minimumMore than 100 coinsNumerous trading pairsCan fund account through Visa or Mastercard debit cards, ACH transfers, or wire transfersTwo-factor authentication and cold storage for assetsNo margin tradingLimited selection of educational resources for beginnersLimited customer supportBetter Business Bureau profile indicates regular customer issues with account accessNot available for New York, Connecticut, Vermont, or Hawaii residents</p> <p>Cryptocurrency exchanges are platforms for investors to buy and sell digital assets like bitcoin, ethereum, and dogecoin. The <a href="https://www.businessinsider.com/personal-finance/best-crypto-bitcoin-exchanges">best cryptocurrency exchanges</a> provide low fees, margin trading, staking rewards, and institutional services. And although Bittrex isn't on Insider's top picks for crypto exchanges, still offers many of these assets.</p> <p>Bittrex is a blockchain crypto platform offering trading, digital wallet services, advanced account security, and more. Its counterpart, Bittrex Global, specializes in international trading services.</p> <p>Some of the platform's other features include instant buy/sell orders, multi-stage wallet storage, and automated trading. The company was founded in 2014 by Bill Shihara, Richie Lai, and Rami Kawach.</p> <p>The Bittrex mobile app is available on <a href="https://apps.apple.com/us/app/bittrex/id1465314783" target="_blank" rel="noopener">iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.bittrex.trade" target="_blank" rel="noopener">Android</a> devices.</p> <p>If you don't want to use your exchange's built-in wallet, you'll need to get an external crypto wallet. The <a href="https://www.businessinsider.com/personal-finance/best-bitcoin-wallet">best bitcoin wallets</a> provide investors with low fees, a user-friendly interface, and educational resources. </p> <p class="copyright">Bittrex</p> <p>Editor's rating4.15 out of 5Fees0-0.35% maker/taker feesAccount minimum$3 minimum tradePromotionEarn 10% on all commissions your referred friends spend on trades.<a href="https://bittrex.com/" target="_blank" rel="noopener">Open account</a></p> <p>Not sure if Bittrex is right for you? Keep reading to see how it stacks up against other crypto platforms.</p> <h2>How Does Bittrex Compare?</h2> <p class="copyright">Bittrex</p> <p><a href="https://www.businessinsider.com/personal-finance/kraken-investing-review" target="_blank" rel="noopener"></a></p> <p class="copyright">Kraken</p> <p><a href="https://www.businessinsider.com/personal-finance/binanceus-investing-review" target="_blank" rel="noopener"></a></p> <p class="copyright">Binance.US</p> <p></p> <p><strong>Min. Investment</strong></p> <p>$3 minimum trade amount</p> <p><strong>Min. Investment</strong></p> <p>Depends on type of cryptocurrency</p> <p><strong>Min. Investment</strong></p> <p>$10</p> <p><strong>Fees</strong></p> <p>0-0.35% maker/taker fees</p> <p><strong>Fees</strong></p> <p>0% - 0.26%</p> <p><strong>Fees</strong></p> <p>0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)</p> <p><strong>Investment choices</strong></p> <p>Cryptocurrencies</p> <p><strong>Investment choices</strong></p> <p>Cryptocurrencies</p> <p><strong>Investment choices</strong></p> <p>Cryptocurrencies</p> <p><a href="https://bittrex.com/" target="_blank" rel="noopener">Open an account</a><a href="https://www.kraken.com/en-us/" target="_blank" rel="noopener">Open an account</a><a href="https://www.binance.us/en/home" target="_blank" rel="noopener">Open an account</a></p> <p>Bittrex, <a href="https://www.businessinsider.com/personal-finance/kraken-investing-review">Kraken</a>, and <a href="https://www.businessinsider.com/personal-finance/binanceus-investing-review">Binance.US</a> all provide a vast array of crypto services for individuals and institutions. However, each platform offers unique fee schedules, minimums, and features.</p> <p>Kraken offers lower fees and a wider variety of assets and account features. It allows trading for more than 50 cryptocurrencies, with account options like <a href="https://www.businessinsider.com/personal-finance/what-is-margin-trading-how-it-works">margin trading</a>, over-the-counter (OTC) trading, and futures (futures are contracts that give you the right to buy or sell a security at a certain price on an upcoming date) trading.</p> <p>With Binance.US, you can also trade more than 50 assets, but you won't have access to margin or futures trading. However, Bittrex offers more than 100 coins.</p> <p>If Bittrex seems like it could still be a good fit, keep reading to see how it works.</p> <h2>Ways to Invest with Bittrex</h2> <h3><a href="https://bittrex.com/home/markets" target="_blank" rel="noopener">Cryptocurrencies</a></h3> <p>You can trade bitcoin, ethereum, tether, dogecoin, and a variety of other assets at Bittrex. And as for account security, the platform says it uses a multi-stage wallet strategy (plus two-factor authentication) to make sure all users' funds are securely stored. </p> <p>Bittrex has a maker/taker fee (maker fees are for orders that can't be executed immediately since there aren't matching orders; taker fees apply to orders that are immediately marketable) schedule that charges you less as you spend more over a 30-day period.</p> <p>For instance, you'll pay both a 0.35% maker fee and a 0.35% taker fee if you have a 30-day trading volume of less than $25,000. If you were to trade $100 million, you'd have a 0% maker fee and a 0.05% taker fee.</p> <p>When it comes to deposits, Bittrex doesn't charge you, but each cryptocurrency has a minimum deposit amount. And as for withdrawals, Bittrex says it charges a small fee to cover each coin's network transfer fees.</p> <p>If you're more of a passive investor, though, Bittrex also offers an API that lets you programmatically execute trading and transactions. <a href="https://bittrex.github.io/api/v3" target="_blank" rel="noopener">Learn more here</a>.</p> <h3><a href="https://bittrex.zendesk.com/hc/en-us/articles/360002749232-Corporate-Account-Request" target="_blank" rel="noopener">Institutional trading</a></h3> <p>Bittrex offers corporate accounts for high-frequency trading firms, hedge funds, proprietary trading firms, market makers, crypto exchanges, and other institutional clients.</p> <p>The platform says account perks include no withdrawal limits, quicker deposits, fiat trading, API integration, priority support, and more.</p> <p>You can <a href="https://page.bittrexforms.com/corpapp1" target="_blank" rel="noopener">sign up for a corporate account here</a>.</p> <h2>Is Bittrex Trustworthy?</h2> <p>The <a href="https://www.bbb.org/us/wa/seattle/profile/virtual-currency/bittrex-inc-1296-1000048938/overview-of-bbb-ratings" target="_blank" rel="noopener">Better Business Bureau</a> has given Bittrex an NR ("No rating") since the business is currently responding to previously closed complaints. Note that BBB ratings usually range from A+ to F and reflect the bureau's opinion of how the company interacts with its customers.</p> <p>However, the BBB has issued a pattern of complaint alert for Bittrex. It holds that, on December 12, 2017, it noticed a pattern of complaints where traders either alleged they weren't able to access their accounts, or mentioned that money disappeared from their Bittrex wallets.</p> <p>The bureau says it also found that many consumers claimed Bittrex was unresponsive to complaints. The company has closed 180 complaints in the last 12 months, according to BBB data.</p> <div class="read-original">Read the original article on <a href="https://www.businessinsider.com/personal-finance/bittrex-crypto-review">Business Insider</a></div><!-- /wp:html -->

Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

*Note: Beatrix recently filed for bankruptcy in Delaware a few months after being sued by the Securities and Exchange Commission (SEC) on allegations that the platform was operating an illegal securities exchange, broker, and clearing house in the U.S. Bittrex is believed to have more than 100,000 creditors, with an estimated range of $500 million to $1 billion worth of liabilities and assets.

Bottom line: Bittrex is best for security-forward crypto traders looking to trade bitcoin and a wide variety of other altcoins. The platform also offers corporate accounts, so it could also be a good fit for institutional clients.

Is Bittrex Right for You?

 Bittrex Pros Bittrex ConsLow account minimumMore than 100 coinsNumerous trading pairsCan fund account through Visa or Mastercard debit cards, ACH transfers, or wire transfersTwo-factor authentication and cold storage for assetsNo margin tradingLimited selection of educational resources for beginnersLimited customer supportBetter Business Bureau profile indicates regular customer issues with account accessNot available for New York, Connecticut, Vermont, or Hawaii residents

Cryptocurrency exchanges are platforms for investors to buy and sell digital assets like bitcoin, ethereum, and dogecoin. The best cryptocurrency exchanges provide low fees, margin trading, staking rewards, and institutional services. And although Bittrex isn’t on Insider’s top picks for crypto exchanges, still offers many of these assets.

Bittrex is a blockchain crypto platform offering trading, digital wallet services, advanced account security, and more. Its counterpart, Bittrex Global, specializes in international trading services.

Some of the platform’s other features include instant buy/sell orders, multi-stage wallet storage, and automated trading. The company was founded in 2014 by Bill Shihara, Richie Lai, and Rami Kawach.

The Bittrex mobile app is available on iOS and Android devices.

If you don’t want to use your exchange’s built-in wallet, you’ll need to get an external crypto wallet. The best bitcoin wallets provide investors with low fees, a user-friendly interface, and educational resources. 

Editor’s rating4.15 out of 5Fees0-0.35% maker/taker feesAccount minimum$3 minimum tradePromotionEarn 10% on all commissions your referred friends spend on trades.Open account

Not sure if Bittrex is right for you? Keep reading to see how it stacks up against other crypto platforms.

How Does Bittrex Compare?

Min. Investment

$3 minimum trade amount

Min. Investment

Depends on type of cryptocurrency

Min. Investment

$10

Fees

0-0.35% maker/taker fees

Fees

0% – 0.26%

Fees

0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)

Investment choices

Cryptocurrencies

Investment choices

Cryptocurrencies

Investment choices

Cryptocurrencies

Open an accountOpen an accountOpen an account

Bittrex, Kraken, and Binance.US all provide a vast array of crypto services for individuals and institutions. However, each platform offers unique fee schedules, minimums, and features.

Kraken offers lower fees and a wider variety of assets and account features. It allows trading for more than 50 cryptocurrencies, with account options like margin trading, over-the-counter (OTC) trading, and futures (futures are contracts that give you the right to buy or sell a security at a certain price on an upcoming date) trading.

With Binance.US, you can also trade more than 50 assets, but you won’t have access to margin or futures trading. However, Bittrex offers more than 100 coins.

If Bittrex seems like it could still be a good fit, keep reading to see how it works.

Ways to Invest with Bittrex

Cryptocurrencies

You can trade bitcoin, ethereum, tether, dogecoin, and a variety of other assets at Bittrex. And as for account security, the platform says it uses a multi-stage wallet strategy (plus two-factor authentication) to make sure all users’ funds are securely stored. 

Bittrex has a maker/taker fee (maker fees are for orders that can’t be executed immediately since there aren’t matching orders; taker fees apply to orders that are immediately marketable) schedule that charges you less as you spend more over a 30-day period.

For instance, you’ll pay both a 0.35% maker fee and a 0.35% taker fee if you have a 30-day trading volume of less than $25,000. If you were to trade $100 million, you’d have a 0% maker fee and a 0.05% taker fee.

When it comes to deposits, Bittrex doesn’t charge you, but each cryptocurrency has a minimum deposit amount. And as for withdrawals, Bittrex says it charges a small fee to cover each coin’s network transfer fees.

If you’re more of a passive investor, though, Bittrex also offers an API that lets you programmatically execute trading and transactions. Learn more here.

Institutional trading

Bittrex offers corporate accounts for high-frequency trading firms, hedge funds, proprietary trading firms, market makers, crypto exchanges, and other institutional clients.

The platform says account perks include no withdrawal limits, quicker deposits, fiat trading, API integration, priority support, and more.

You can sign up for a corporate account here.

Is Bittrex Trustworthy?

The Better Business Bureau has given Bittrex an NR (“No rating”) since the business is currently responding to previously closed complaints. Note that BBB ratings usually range from A+ to F and reflect the bureau’s opinion of how the company interacts with its customers.

However, the BBB has issued a pattern of complaint alert for Bittrex. It holds that, on December 12, 2017, it noticed a pattern of complaints where traders either alleged they weren’t able to access their accounts, or mentioned that money disappeared from their Bittrex wallets.

The bureau says it also found that many consumers claimed Bittrex was unresponsive to complaints. The company has closed 180 complaints in the last 12 months, according to BBB data.

Read the original article on Business Insider

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