Bittrex
Key Data
- Trading Name:Bittrex
- Legal Entity: Bittrex Global Gmbh/Bittrex, Inc.
- Activities: crypto exchanges
- Location: USA, Liechtenstein
- Regulations: The company is registered with the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). Additionally, Bittrex is licensed to operate as a cryptocurrency exchange in several US states, including New York, California, and Washington.
- Key People: Bill Shihara (Linkedin) , Richie Lai (Linkedin), Rami Kawach, and Ryan Hentz, William Shihara
Attention: Bittrex announced its closure on November 20, 2023. Operations will cease on December 4, 2023.
Bittrex was one of the largest crypto exchanges in the world and offered access to a large number of trading pairs, as well as the possibility of deployment and other crypto services.
Offering
Bittrex offers a variety of features and services for cryptocurrency traders, including:
- Trading: Bittrex allows users to trade a wide range of cryptocurrencies with various trading pairs, including BTC, ETH, USDT, and more.
- Security: Bittrex is known for its robust security measures, including two-factor authentication, IP address whitelisting, and multi-stage wallet encryption.
- Customer Support: Bittrex offers a 24/7 customer support team to assist users with any issues or questions they may have.
- Regulatory Compliance: Bittrex is committed to regulatory compliance and has implemented various measures to ensure that it operates within the guidelines of relevant laws and regulations.
- User Interface: Bittrex provides a user-friendly interface that allows users to easily navigate and trade on the platform.
- Mobile Apps: Bittrex offers mobile apps for both iOS and Android, which allow users to trade and monitor their accounts on the go.
Overall, Bittrex is a popular cryptocurrency exchange that provides a wide range of features and services for traders, with a focus on security, compliance, and user experience.
Fees
For users who trade less than 30 BTC (or equivalent) in a 30-day period, the fees are as follows:
- 0.25% for both buy and sell orders.
For users who trade more than 30 BTC (or equivalent) in a 30-day period, the fees are as follows:
- 0.23% for both buy and sell orders.
Bittrex does not charge fees for deposits, but there are withdrawal fees that vary depending on the cryptocurrency being withdrawn. These fees are generally based on the current network transaction fees for the respective cryptocurrency.
Compliance Problems
As our research has shown, former users report numerous problems with support, deposits and withdrawals, and there have also been security issues in the past where customer funds have been lost.
In April 2023, the U.S. Securities and Exchange Commission (SEC)charged crypto exchange operator Bittrex, Inc. a Delaware-registered company, and its co-founder and former CEO William Shihara with operating an unregistered national securities exchange, broker, and clearinghouse. The SEC also charged Bittrex’s subsidiary, Bittrex Global GmbH, a company registered in Liechtenstein.
Conclusion
Based on the massive compliance problems as well as the obviously bad ratings on the web, we place Bittrex on our “Red Compliance” list.
