What is Bittrex?

[TaKlarPH]

Question of mine thank you for your answers later on

•What is that Bittrex?
•What is its porpuse?
•Is it a wallet? And I want to know how it works and the machanics?
•Can someone 1 it to May I ! sorry what is that Bittrex? Is it a wallet?

[k@suy]

Bittrex is an exchange where you can trade your altcoins to bitcoin or dollar pair. It has a multi wallet platform for every coins being traded there. If you want your altcoins to be converted to bitcoin you can use an exchange like bittrex or if you want to buy bitcoin you can buy it there also.

[TryNinja]

Just like said above, Bittrex is an exchange. Which means that you don't have full control over the coins deposited there and you shouldn't be using them to store your cryptocurrencies. Only use them if you want to do a trade between two coins and withdraw afterwards.

Learn this now to avoid any issues in the future. Many people used exchanges and third party services to store their coins and lost their coins eventually.

[Xavofat]

Bittrex is an altcoin exchange.  You can exchange between many different cryptocurrencies with other users of the service.

The prices are determined in a peer-to-peer way:  you choose what price you are willing to buy or sell for and someone else needs to match your price.  The bid price is the highest price that someone is willing to pay for your cryptocurrency when you sell, while the ask price is the lowest price that someone is willing to sell you a cryptocurrency for when you buy.  The last price is the price that was most recently used in a trade.

Is it a wallet?

No.  Bittrex controls your coins when you deposit them, and you essentially have a "promise" from them that they will allow you to withdraw those coins from them.

dollar pair.

There is no dollar pair at Bittrex.  There is the altcoin USD Tether, which has a company promising to back the tokens 1:1 with dollars, but there is no guarantee that you will always be able to redeem USDT for dollars.

You also cannot withdraw or deposit fiat.

[AmXProX]

Bittrex fucking blows big time. Their customer support is more horrible than calling a customer service number and having to speak with someone that does not fluently speak your language. Take my advice, don't use them for anything important. When you have a problem and you will eventually, you'll see exactly what I speak against them. Its not my 1st time with issues on their site. Nor 10th. They cannot resolve a issue with less than 1 week. I've had a digital trading issue for 9 days now and you will be lucky to get a response every 24hrs. If you get one then without having to submit 100 tickets to get their attention.

Here is a example.

They ask you to submit your ID to resolve your issue. 24hours pass after you submit your ID. Then they say, we need a address identification. You submit your info.. 24 more hours pass. They say they need to verify your number.24 hours pass.. Instead of clearly informing you of what you need to do, they will drag the shit out for as long as possible. I guess to increase job security is my only guess, or lack of employess, or just fucking lazy. Take your pick.

[Saoha]

Bitrrex is where you can buy, sell, trade between altcoin together or USTD. You can invest money in a potential coin and spend a few years waiting for the price increase and sell out for profit. Or technical analysis waiting to buy coin at low prices and sell out after it increases.