BITTREX is a very popular cryptocurrency exchange in the world. Founded in the United States in 2014, it boasts one of the largest numbers of members in the world, and as a result, its transaction volume is one of the highest in the world. We handle more than 200 currencies, and this large number is also very attractive. Of course, they also handle all major coins. Also, the operation method is not particularly difficult, so even beginners can easily get used to it. The transaction fee is uniformly 0.25%, which is higher than other companies in the same industry (commissions are free to about 0.1% for other companies), but it still seems worth trading on this exchange.
Only the following two items are required to open a BITTREX account.
- email address
- Identity verification documents (driver’s license / passport / ID card approved by the government of each country)
Click “Sign Up” on the official BITTREX page. Select Personal, enter your email address and password of your choice, and click Create Account. An email will be sent from Bittrex to the address you entered, so click the URL provided to complete the registration of your email address.
Next, you will move on to entering personal information, so please enter it correctly. You will need your driver’s license / passport / ID card approved by the government of each country for your identity verification documents. Furthermore, face recognition is performed, and the process is complete. Confirmation will be completed in about 5 minutes.
Transaction fees are a little higher at BITTREX. There are many cryptocurrency exchanges other than BITTREX, and transaction fees vary from free to 0.3%. As a discount, the commission on the transaction amount is often discounted.
BITTREX allows you to trade over 200 currency pairs. The following is an example, but you can trade many other coins. Please check the official page as the coins handled may change each time.
Scalping trades are allowed in BITTREX. However, please be careful. Unlike foreign exchange, the price range of virtual currencies is very volatile. If you go the other way, be sure to decide the withdrawal point. If you go the other way, you may lose all your money.
Automatic trading is at your own risk
Recently, some people are selling automatic trading systems that support BITTREX. However, automated trading carries great risks. When a one-sided trend appears, the unrealized loss becomes large and all the principal is often skipped. Furthermore, in the case of virtual currencies, trends are more likely to occur than foreign exchange, and price range fluctuations are more likely to occur. You may lose all your money in one trade, so please understand before deciding whether or not to do it. Discretionary trading is recommended.
Low risk, low return for beginners
Beginners should not be familiar with cryptocurrency FX yet, so let’s start with low risk and low return.