Review of the Crypto Exchange Bittrex. Recommendations for Deposit/Withdrawal of Funds

Bittrex

There is a huge number of exchanges on the cryptocurrency market that offer different working conditions for their clients. The right choice of a site for the sale and purchase of digital coins is almost half the success in cryptocurrency trading. Less popular projects can boast of a small commission fee, while larger sites attract customers with a high level of security. In this article we will conduct a detailed review of the Bittrex exchange and understand how to profit from its services.

Contents:
(please, click the topic to scroll down to it)

  1. How to register with the exchange?
  2. Deposit/withdrawal of funds and commission fees
  3. Security of the exchange
  4. Disadvantages of Bittrex
  5. Conclusion

1. How to register on the exchange?

Any user who is more or less familiar with the computer and the Internet will be able to successfully perform the registration procedure. To start, you need to click Register and enter your e-mail address in the window that appears (you must have access to it) and preferably, a complicated password, which will contain both numbers and letters.

bittrex crypto exchange

After that, a letter will come to the mail with a link to confirm the new account. Further, in order to get full access to all the functional of the exchange, it is necessary to undergo the procedure of verification (that is, confirmation) of the person. To do this, you need to provide a certain package of documents (depending on the country of residence of the trader, this package may differ), which will be indicated in the personal account.

2. Deposit/withdrawal of funds and commission fees

There are two types of Bittrex accounts, functional and limits on which differ significantly from each other:

Basic. Here, the user must specify only his full name, date of birth and place of physical residence, without the need to attach documents.

Advanced. You need to send your own photo, with documents in hand.

bittrex crypto exchange

If you plan to replenish your account by bank transfer, you must provide documents that confirm your identity. And in order to be able to display more than 4 bitcoins per day, it is necessary to install two-factor authentication in your account, that is, confirmation via: login-password + message to phone number.

If we talk about commission fees that are levied on users, then they are absolutely average for the market. Trading on Bittrex costs the trader 0.25% of the amount of each executed order.

3. Security of the exchange

The creators of the site pay special attention to security issues. If we operate with facts, for the entire existence of the exchange (and this is already 4 years), hackers have not managed to do much harm to it. The most successful attack on Bittrex was in the spring of 2016, then the number of accounts was stolen. But it is worth noting that only those users who did not install a two-factor confirmation (which the exchange’s creators strongly recommend to install) were found to be vulnerable.

At the site, a complex multi-level strategy for diversifying wallets is organized. More than 90% of all users’ assets are stored on Bittrex cold wallets.

Market experts leave pretty flattering reviews about the safety of this project, but remember that 100% integrity of your funds can not be guaranteed by any crypto exchange in the world.

4. Disadvantages of Bittrex

For an objective evaluation of this project, we are obliged to identify a negative aspect, which still present.

Slow support. At many trader forums, you can find whole branches devoted to long-term expectations of answers from the technical support service.

5. Conclusion

The Bittrex exchange is one of the most popular in the industry. It has many advantages over competitors, such as: user-friendly interface, fast work speed, a large set of tools for advanced users, high level of security, average commission fees, etc. If the creators of the platform translate it into several other popular languages and solve the issue with technical support, then Bittrex has every chance to break out into the leaders.

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

We remind you:

Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

One of the best crypto exchanges of New Zealand, Cryptopia, was hacked. It announced this sad news via Twitter stating that it had experienced a security breach that ended in a “significant loss”. However, the company did not mention any figures of the loss.

Cryptopia has suspended all the activities on the trading platform for an indefinite period. In addition, it has notified the authorities of the country, and now it cooperates with the police and the country’s High Tech Crimes Unit in order to investigate the hacker attack.

“Staff then notified and involved the appropriate Government Agencies, including NZ police and High Tech Crimes Unit who are jointly and actively investigating the matter as a major crime and they are assisting us with advice,” the exchange stated.

This is the first cryptocurrency exchange theft in 2019, however, many customers of different crypto exchanges call into question the security of them, as there were so many incidents that had to teach exchanges how to deal with it. Some users even blame the exchanges, in particular Cryptopia, in a bear market “exit strategy”.

We remind you

The Hackers of the “51% Attack” on Ethereum Classic Returned Half of the Stolen Funds

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Huobi Introduces the Beta Version of Its EOS-based Decentralized Exchange

The Chinese cryptocurrency exchange Huobi launched its decentralized branch based on the EOSIO technology. Huobi was involved in some business with EOS before, however, this time there seem to be no controversies.

We remind you:

Huobi Might Be Involved in EOS Block Producers’ Manipulation

The first 3 crypto pairs listed at the exchange will be:

– EOS/BTC

– EOS/ETH

– EOS/USDT (a stablecoin)

EOS cryptocurrency will also be the main currency at Huobi’s mining pool.

The plans for opening up a decentralized exchange appeared back at the end of 2018. A couple of weeks later, the beta version launches. There is currently no info on when the exchange will start operating fully.

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New Useful Gadget or Promotional Trick: What Is the WT2 Plus Earphone Translator?

A language barrier is the main cause of disagreements and the reason why people of different nationalities cannot fully communicate. But, besides, a language barrier complicates the lives of many travel lovers. Soon this problem will fall into oblivion, as its solution was suggested by Timekettle company in the form of a new gadget WT2 Plus. Now this device is presented at the International Consumer Electronics Show CES-2019 in Las Vegas.

What is WT2 Plus?

This is a wireless earphone translator, which will become an integral gadget when traveling to foreign countries. The novelty caused a huge interest and made many people wonder: “What is the price of WT2 Plus?”. You can breathe a sigh of relief, because the answer is already there! The cost of WT2 Plus is $ 219.

Source: http://www.timekettle.co/

How does WT2 Plus work?

The earphones support Android and iOS operating platforms. They connect with a mobile device via Bluetooth using the application that allows users to set a language. At the moment, the application supports 20 languages, but in the near future the developers will add another 15.

The feature of the application for WT2 Plus is recognition of various accents. For example, the application supports 5 accents of English, including Australian English.

Direct use of portable earphones occurs as follows: in order both interlocutors can talk and hear each other, each puts one earphone from the kit on. When talking, the earphones transmit the sound to the smartphone for translation and transferring the translation back to the earphones. The delay in processing and transferring sound takes only 3-5 seconds, depending on a sentence size.

Even though the manufacturer emphasized the possibility of real-time translation as its main advantage, in fact the device is capable of translating only short phrases, the duration of which do not exceed 15 seconds. For example, the gadget can not be used for continuous translation of a film in a foreign language.

Regardless of the headphones’ being wireless, they will not catch environing phrases and translate them due to the built-in “Touch” mode, which allows you to use WT2 Plus in crowded places.

The earphones themselves are stored in a pocket-case that resembles Apple’s AirPods case. The earphones are charged from the case. Each earphone has a 110 mA battery, and the case battery capacity is 320 mA. Full charge of the earphones takes 90 minutes. The case works for two weeks without recharging, it is enough for two recharges of each earphone.

The manufacturer plans to increase the accuracy of the WT2 Plus translation to 95%. The translation requires access to the Internet, since it is carried out through Google and Microsoft cloud servers.

Gadget Hits and Misses of 2018

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25 Celebrities Who Support Cryptocurrency

Cryptocurrency is a favourite of all news portals. It becomes the most discussed currency of the XXI century, everyone is interested in it, buys it, even celebrities make their own business with the help of it. Who? Let’s find out with The Coin Shark.

Ashton Kutcher

In 2010, American actor became the originator of A-Grade Investments company, which successfully invested money in the projects such as: Uber, Airbnb and BitPay.

Kutcher left a positive feedback about Bitcoin in Twitter:

Snoop Dogg

In 2013, Snoop Dogg’s albums were sold by 0.3 BTC. The exact number of albums sold is still unknown. But if he had sold the albums at the current rate of 3,5 thousand dollars, then the rapper might have earned about 1,05 thousand dollars per album.

Also, the rapper popped up on a XRP Community Night party.

Hugh Laurie

The actor became a hodler of the Bitcoins, amounting to 5,000 dollars, by his best friend’s advice.

Kim Kardashian

Matthew Roszak the founder of Bloq and various cryptocurrency projects, presented Bitcoin to an American star Kim Kardashian. He shared this news with his subscribers on Twitter:

A Bitcoin Was Gifted to Kim Kardashian

Mike Tyson

Famous actor contributed greatly to the cryptocurrencies development. In 2015, he launched the Bitcoin ATM system, after 6 months his team announced the launch of a mobile application for trading:

Donald Glover

In 2013, during an interview with “Time” the rapper expressed his admiration of Bitcoin.

I know a lot of people are skeptical, but I feel like if everything’s going to live online, why not bitcoins? Being backed by gold seems very old and nostalgic to me. Being backed to a bitcoin, which takes time to actually make and there’s this equation that has to be done, that feels realer to me and makes more sense.”

Bill Gates

Co-founder of Microsoft doesn’t hide his interest about Bitcoin.

Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”, said Gates during an interview.

However, later Bill Gates expressed his negative attitude towards cryptocurrency.

Elon Musk

Former CEO of Tesla, the chief executive and the chief engineer of SpaceX denies that he owns Bitcoin, except of those 0,25 BTC which is a gift from a friend.  You can find this on his Twitter:

Pitbull

Armando Christian Perez, a hip-hop artist, aka “Pitbull” said that in 2012 he started investing in Bitcoin. Today he is constantly tracking the rate of cryptocurrency, however he is no longer investing in it.

Jamie Foxx

A member of Stand-UP Comedy, an american actor and singer became interested in cryptocurrency back in 2017. He was promoting a Bitcoin exchange Cobinhood on his Twitter account.

Floyd Mayweather Jr. and DJ Khaled

Floyd, the undefeated American boxer, more than anyone else is engaged in various ICO advertising. In 2017 he became an ambassador of Stox cryptocurrency project, which specializes in the markets analysis. Boxing star was also engaged in advertising Hubii Network marketplace.

Floyd Mayweather Jr. is not the only one among celebrities who was advertising aforementioned Centra project. DJ Khaled joined the boxer.  In 2017, the producer was overwhelmed with comments under an Instagram photo, where he was posing with a Centra card. Unfortunately, later, it became known that the project was a scam.

Jessica VerSteeg and The Game

No one could imagine that the model can tie her career with innovations. However, in 2017, Jessica VerSteeg Miss-Iowa 2014 launched the ParagonCoin Bitcoin-platform. We note that the project is quite specific, since it was created for marijuana industry.

Jayceon Taylor, a hip-hop artist, more known as “The Game”, supported Jessica VerSteeg. He made a video about promoting the Paragon platform.

Mel B

A british singer and a former member of Spice Girls back in 2014, she was selling her christmas single for a Bitcoin. After partnership with a London cloud mining service CloudHashing, she became the first performer in history who was selling music for BTC.

Madonna,Lady Gaga,Jennifer Lopez,Kelly Joyce

Well-known singers, they were the first ones who accepted payment in BTC. The amount of fee depends on singer’s popularity. The advantages of such payment are that celebrities gain their net profit without taxes, which are not charged from cryptocurrency and fans do not overpay for the performance.

Madonna

This celebrity should  be pointed out of all four divas. In 2018, Madonna supported Ripple’s social action, during which they were collecting funds for the orphans from an African Republic of Malawi.

Ghostface Killah

In October,2017, Ghostface Killah a member of a hardcore hip hop band called Wu-Tang Clan, became a founder of Cream Capital company, which specializes in promotion and funding services for cryptocurrency startups. During the ICO the company earned $30 million.

The name of the company is identical to a Wu-Tang Clan hit – C.R.E.A.M. ( Cash Rules Everything Around Me ).

Richard Sherman

Richard Sherman, a player of the american football team “Seattle Seahawks”, have invested in several cryptocurrencies. Even his family cannot stop his bigotry.

Sherman managed to earn on the rate growth when it was at $20,000.

Later, Sherman cashed his Bitcoin and managed to earn while it cost $20 thousand per coin. Moreover,  he is a representative and an investor of Cobinhood crypto exchange.

Johnny Depp

In the fall of 2018, the actor became a partner with TaTaTu blockchain startup, which deals with film-making.

Infinitum Nihil Film Company, which belongs to Johnny Depp will produce documentaries and digital content according to the agreement with the crypto project.

Johnny has the ability to conceptualize material in a way that few can, and is unburdened of conventional industry formulas that dictate the projects that get made, traditionally, as we make strides to embrace disruptiveness, Johnny will be a key collaborator with us and we are tremendously excited to back his visions and instincts on stories to bring to life.”, said Andrea Iervolino the founder of TaTaTu.

Mark Cuban

An american entrepreneur, a billionaire had his own rule for investment in cryptocurrency, which he shared with the crypto community.  He is sure that any funds that don’t have the exact purpose should be invested in the digital currency.

Lionel Messi

In the winter of 2017, the legend of the Barcelona football club became an official global ambassador of Sirin Labs Israeli company, which is developing the world first crypto smartphone called Finney. Messi shared this news on his Instagram.

Sirin Labs advertising slogan is:


Let’s kick some goals together and bring Blockchain technology to the mass market.”

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