Bittrex or Bitfinex

[TheKubizz]

Hey there! I'm considering switching exchanges from bitter to bitfinex. I've heard many times now that it's much better! Im sure there's 1000 topics connected with it. Just want to know your word if u already switched from one to another.
Tell me what's better what's worse, is it worth it.

Thanks in advance!

[1714983715]

1714983715

[Maum]

Bittrex and Bitfinex have different features. On Bittrex you will find many cryptocurrencies and tokens. Bitfinex has similar features like poloniex. You can exchange, trade and lend. So I am acting on both exchsngers.

[TryNinja]

I still prefer Bittrex over Bitfinex because of its simplicity and access to coins that are not available in many other exchanges (e.g NEO).

Please take note that if you are a US citizen you shouldn't use Bitfinex since they are closing doors for US costumers[1].

[1] https://www.bitfinex.com/posts/216/review

[MAbtc]

Hey there! I'm considering switching exchanges from Bittrex to bitfinex. I've heard many times now that it's much better! Im sure there's 1000 topics connected with it. Just want to know your word if u already switched from one to another.
Tell me what's better what's worse, is it worth it.

Thanks in advance!

Bitfinex is much bigger and has much more liquidity for the markets they support. Being so much bigger, they also probably have more to worry about from the US government... they are both unlicensed. Bittrex has a lot more markets, although Bitfinex is adding new altcoin markets all the time since they have basically lost fiat capabilities.

Bitfinex got cut off from the USD and EUR banking systems earlier this year and also got hacked last year, so those are red flags in my eyes. I would keep as little on the exchange as possible (withdraw coins after trading).

I still prefer Bittrex over Bitfinex because of its simplicity and access to coins that are not available in many other exchanges (e.g NEO).

Please take note that if you are a US citizen you shouldn't use Bitfinex since they are closing doors for US costumers[1].

[1] https://www.bitfinex.com/posts/216/review

True, although it doesn't seem like they are changing their verification procedures for non-US customers. Looks like US people can just sign up for a new account via VPN.

[BitHodler]

Bittrex is an upcoming exchange, but they unfortunately don't allow actual fiat versus crypto trading. If fiat trading is an important aspect for you, just look into Bitstamp or Kraken.

Bitfinex is what I consider to be an extremely shady exchange where obviously, I am referring to their supposed hack. I would never make use of such an exchange.

Especially when you consider that there are a few very decent alternatives ready to be used. As mentioned, Bitstamp and Kraken are great exchanges, but GDAX and Gemini as well ~ it's all up to you.

[MAbtc]

Bittrex is an upcoming exchange, but they unfortunately don't allow actual fiat versus crypto trading. If fiat trading is an important aspect for you, just look into Bitstamp or Kraken.

They don't support direct fiat trading markets yet, but they do have USDT markets. Tether is supposed to be pegged at 1:1 to USD, but it is tied to Bitfinex, so your third party exchange risk is with Bitfinex rather than Bittrex when you hold USDT on Bittrex.

They will, however, offer USD markets in the future:

In the near future Bittrex will be launching USD Markets and allow Credit/Debit deposits of USD in order to purchase/sell BTC.

https://support.bittrex.com/hc/en-us/articles/115000198572-How-do-I-buy-coins-with-US-Dollars-

Also, if you have Enhanced Verification, you can purchase BTC, ETH or USDT via wire transfers in the amount of $10,000 or greater.

[amacar2]

Bitfinex got hacked before and users have lost thousands of bitcoin because of security loop hole bitfinex had so I suggest you to not use them.

Bittrex in other hand can be considered as safer exchange with lots of trading volume and coin pairs till now, but never keep all your cryptos in echange wallet.

[bamboylee]

Bitfinex got hacked before and users have lost thousands of bitcoin because of security loop hole bitfinex had so I suggest you to not use them.

Bittrex in other hand can be considered as safer exchange with lots of trading volume and coin pairs till now, but never keep all your cryptos in echange wallet.

I lost trust to bitfinex as well when they got hacked last year. Though they paid their customers eventually but that did not bring my trust back. I trade at bittrex right now. Before that it was polo, but polo have problems recently.

[MAbtc]

Bitfinex got hacked before and users have lost thousands of bitcoin because of security loop hole bitfinex had so I suggest you to not use them.

Bittrex in other hand can be considered as safer exchange with lots of trading volume and coin pairs till now, but never keep all your cryptos in echange wallet.

I lost trust to bitfinex as well when they got hacked last year. Though they paid their customers eventually but that did not bring my trust back. I trade at bittrex right now. Before that it was polo, but polo have problems recently.

I don't consider them to have fully paid their customers. The debt (necessarily) was re-denominated in USD, so people definitely lost coins. The opportunity cost was also significant following relaunch. It was also entirely sensible to dump to recover whatever you could and exit the exchange, given the fact that they had no idea how they got hacked (and still don't).

They probably made the best of a shitty situation, but it may have just bought time. The debt tokens were probably unregistered securities, and they issued them to US customers and allowed them to sell on the open market. Same with withdrawing from the US market now.... too little too late.

[sylance]

I really love Bitfinex and never had any issues with them.  It's true they don't offer that many currencies but the ones they do offer I trust to be around for awhile.  I really like their margin lending features; which allows me to keep some coins in my exchange account for trading, but the bulk in margin lending.  I earn about .01% interest a day; which does add up quickly for simply holding.

That said... Bitfinex is ending support for US customers and although I could probably spoof it I'm not going to risk my coins.  I'll be moving to Bittrex soon.

[Riddikulo]

Please answer somebody to my question.
Am I need to verify my account just to deposit and withdraw crytpocurrencies?
There is inside coin that I need...

[welligon]

It's depend on what do you want to trade. bittrex for trade altcoin and bitfinex for trade bitcoin but you can trade altcoin too.

Please answer somebody to my question.
Am I need to verify my account just to deposit and withdraw crytpocurrencies?
There is inside coin that I need...

No if you want to trade at bittrex and yes if you want to trade at bitfinex.

[b4h4mu7]

Bittrex is shit. I've been trading with them since they launched. They used to have amazing customer service, were supportive of cryptocurrency communities and now they delist coins without transparency and kick users out of the support channels when they ask valid questions. Go ahead hop into their slack channel if you don't believe me, you'll get booted out real quick just for asking simple questions. When they were on IRC it was a completey different story.

As someone who has been using Bittrex longer than most people on this forum, I can unequivocally state that everyone should stay away from them. From what I've observed, they're definitely involving in insider trading and market manipulation. Moreover, their charts and order depths haven't been working since last October, bot trading has completely taking over the order books and they've now followed in Poloniex's footsteps and have imposed withdrawal limits without any law requiring them to. They do this so that once you deposit funds on their exchange, they're stuck there for the foreseeable future like any ponzi scheme. Crypto exchanges aren't insured against theft so they shouldn't be acting like banks and keeping users funds hostage.

The migration of volume from Poloniex to Bittrex has turned Bittrex into one of the shittiest exchanges I've ever had the displeasure of dealing with. It was hard enough trading on an exchange with broken charts, now you have a two month response time for a support ticket and if you try to bring up concerns in their slack channel they'll kick you out or ban you. I'd recommend hitbtc.com or the up and coming binance.com exchange. Although the latter lacks many trading pairs, both are far ahead of Bittrex in terms of customer support, user interface and execution speed. The user interface of Bittrex and Poloniex is literally like using windows 95 in comparison to hitbtc, binance or any of the other professional exchanges.

Don't believe me? Sign up for an account at hitbtc or binance and try to tell me that trading on there isn't night and day different from Poloniex or Bittrex. The nice thing about hitbtc.com is that not only have they been around since 2013, they don't have any withdrawal limits for crypto or verification process for crypto only trades. It's a really a no brainer.

[sylance]

My experience with Bittrex is rather new but I agree their user interface is lacking.  Every time I run a chart I have to re-customize it for the moving averages and Bollinger Bands.  Also, it's nitpick, but I wish they had a dark theme since I'm staring at it for so long.  I haven't looked into HitBTC before, I'll have to give them a look.  Binance is reaaally interesting to me, but trusting my coin to a startup in China seems really risky to me.

[BitHodler]

No if you want to trade at bittrex

That might have been the case previously, but not anymore in today's world. I signed up there very recently, and without any verification, my withdrawal limit was 0BTC.

After I made myself basic verified, I had the opportunity to withdraw max 3BTC on a daily basis. It basically means that you could trade without verification, but simply not withdraw anything.

From that perspective, it doesn't make sense to trade at a certain platform when you're not be willing to verify yourself, and thus lack the ability to withdraw funds.

[b4h4mu7]

My experience with Bittrex is rather new but I agree their user interface is lacking.  Every time I run a chart I have to re-customize it for the moving averages and Bollinger Bands.  Also, it's nitpick, but I wish they had a dark theme since I'm staring at it for so long.  I haven't looked into HitBTC before, I'll have to give them a look.  Binance is reaaally interesting to me, but trusting my coin to a startup in China seems really risky to me.

None of the order depths work and the candles don't properly display volume.. for me that's a huge negative. Try hitbtc and then come back and let me know what your initial reactions were compared to Bittrex. Binance's "pro mode" is nice too, the two founders started OKcoin, so there's some credibility there vs some random Chinese exchange.

No if you want to trade at bittrex

That might have been the case previously, but not anymore in today's world. I signed up there very recently, and without any verification, my withdrawal limit was 0BTC.

After I made myself basic verified, I had the opportunity to withdraw max 3BTC on a daily basis. It basically means that you could trade without verification, but simply not withdraw anything.

From that perspective, it doesn't make sense to trade at a certain platform when you're not be willing to verify yourself, and thus lack the ability to withdraw funds.

I agree. It doesn't make sense at all, I wasn't aware that they've completely disable withdrawals for new accounts. They should be more transparent about their 0 withdrawal limits for unverified accounts. It sounds like they've turned into a honeypot. I could understand if they were dealing in fiat, but for crypto only that doesn't make any sense. They're basically extorting user privacy to enable withdrawal.. shame

[pfx]

I agree. It doesn't make sense at all, I wasn't aware that they've completely disable withdrawals for new accounts. They should be more transparent about their 0 withdrawal limits for unverified accounts. It sounds like they've turned into a honeypot. I could understand if they were dealing in fiat, but for crypto only that doesn't make any sense. They're basically extorting user privacy to enable withdrawal.. shame

I documented this crap recently here: https://bitcointalk.org/index.php?topic=2068133.msg21148174#msg21148174

I'd say bitfinex without question, but yeah the shady stolen-coin past can be a little difficult to get over. Bitfinex also made a couple confusing announcements recently regarding U.S. customers: https://www.bitfinex.com/posts

[sylance]

I agree. It doesn't make sense at all, I wasn't aware that they've completely disable withdrawals for new accounts. They should be more transparent about their 0 withdrawal limits for unverified accounts. It sounds like they've turned into a honeypot. I could understand if they were dealing in fiat, but for crypto only that doesn't make any sense. They're basically extorting user privacy to enable withdrawal.. shame

I documented this crap recently here: https://bitcointalk.org/index.php?topic=2068133.msg21148174#msg21148174

I'd say bitfinex without question, but yeah the shady stolen-coin past can be a little difficult to get over. Bitfinex also made a couple confusing announcements recently regarding U.S. customers: https://www.bitfinex.com/posts

Yea, the US thing is really confusing.  They send two announcements on back to back days, and then nothing since.  They said they'd communicate with US customers within 30-days to define the process of off-boarding but I haven't heard anything so I don't know what to expect.  I've already moved some coin off their exchange but I have some locked into a 30-day margin lending.

[MAbtc]

The migration of volume from Poloniex to Bittrex has turned Bittrex into one of the shittiest exchanges I've ever had the displeasure of dealing with. It was hard enough trading on an exchange with broken charts, now you have a two month response time for a support ticket and if you try to bring up concerns in their slack channel they'll kick you out or ban you. I'd recommend hitbtc.com or the up and coming binance.com exchange. Although the latter lacks many trading pairs, both are far ahead of Bittrex in terms of customer support, user interface and execution speed. The user interface of Bittrex and Poloniex is literally like using windows 95 in comparison to hitbtc, binance or any of the other professional exchanges.

Don't believe me? Sign up for an account at hitbtc or binance and try to tell me that trading on there isn't night and day different from Poloniex or Bittrex. The nice thing about hitbtc.com is that not only have they been around since 2013, they don't have any withdrawal limits for crypto or verification process for crypto only trades. It's a really a no brainer.

Thanks for the heads up. I've been searching for an altcoin exchange with lots of coins available (as opposed to exchanges like Bitstamp and GDAX), and was considering Bittrex. Right as I was about to sign up, they started implementing changes to their verification tiers, so I never made an account for fear of having funds locked up.

I had funds tied up for weeks on Poloniex with their $2000/day limit (they wouldn't upgrade me to Tier 2 without giving up SSN), and I don't feel like dealing with that again.

I'll check out HitBTC and Binance -- are these okay to use for US residents? Verification requirements? Thanks.

[b4h4mu7]

The migration of volume from Poloniex to Bittrex has turned Bittrex into one of the shittiest exchanges I've ever had the displeasure of dealing with. It was hard enough trading on an exchange with broken charts, now you have a two month response time for a support ticket and if you try to bring up concerns in their slack channel they'll kick you out or ban you. I'd recommend hitbtc.com or the up and coming binance.com exchange. Although the latter lacks many trading pairs, both are far ahead of Bittrex in terms of customer support, user interface and execution speed. The user interface of Bittrex and Poloniex is literally like using windows 95 in comparison to hitbtc, binance or any of the other professional exchanges.

Don't believe me? Sign up for an account at hitbtc or binance and try to tell me that trading on there isn't night and day different from Poloniex or Bittrex. The nice thing about hitbtc.com is that not only have they been around since 2013, they don't have any withdrawal limits for crypto or verification process for crypto only trades. It's a really a no brainer.

Thanks for the heads up. I've been searching for an altcoin exchange with lots of coins available (as opposed to exchanges like Bitstamp and GDAX), and was considering Bittrex. Right as I was about to sign up, they started implementing changes to their verification tiers, so I never made an account for fear of having funds locked up.

I had funds tied up for weeks on Poloniex with their $2000/day limit (they wouldn't upgrade me to Tier 2 without giving up SSN), and I don't feel like dealing with that again.

I'll check out HitBTC and Binance -- are these okay to use for US residents? Verification requirements? Thanks.

My pleasure. As long as you don't deal in fiat, you shouldn't have anything to worry about. We need to vote with our coins and move our volume to another exchange that respects our rights to access our funds instead of trying to run a ponzi/honeypot. IMO Bitsquare is the future, a trustless decentralized exchange is the only thing that will remedy this situation. I know the feeling with Crapoliex, I went through the same thing. Once my coins were off, I never looked back.


"By default, all clients are granted the General status, which lets you fund/withdraw cryptocurrencies without any limits."
https://hitbtc.com/fees-and-limits