n this article, you are gonna know just the exact differences between two of the most popular crypto exchanges which are Poloniex and Bittrex. Read our blog Poloniex vs Bittrex, throughout and then decide the winner for yourself.
|Point of distinction||Poloniex||Bittrex|
|Founder||Tristan D’Agosta||Rami Kawach, Ryan Hentz, and Bill Shihara|
|Security||Safe to use||Secured by two-factor authentication|
|Withdrawals||Instant withdrawal||Easy and fast withdrawals are available|
|Fees charged||Starting from 0.0280%||Starting from 0.05%|
Table of Contents
What is Poloniex?
The Poloniex crypto exchange is among the most popular exchanges in the world, which was created by Tristan D’Agosta, based in the United States. It has been operating since January 2014 and is currently offering trading pairs with BTC, ETH, LTC, DOGE, STRAT, and XMR. Poloniex employs a volume-tiered, maker-taker fee schedule for all trades so fees are different depending on if you are the maker or taker of the trade. For makers, there is no fee to add liquidity to the order book by placing a limit order. Apart from Poloniex customer services its other features are also satisfying to the user.
Read our Poloniex Review to learn more.
What is Bittrex?
Bittrex is a US-based cryptocurrency exchange. It was created in 2014 by three security experts — Rami Kawach, Ryan Hentz, and Bill Shihara. Bittrex is a crypto-only exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD or EUR. This super safe platform helps you to trade on the go with its cutting-edge technology which it is built upon. If you are new in the field of cryptocurrency then Bittrex might be the platform for you to start your journey.
Poloniex vs Bittrex: Features
1. Friendly withdrawals
Deposits and withdrawals are some of the things that most of the newly joined customers find difficulty in, but with Bittrex deposits and withdrawals would be like a walk-on cake. Fast withdrawals make Bittrex super withdrawal friendly for its users.
Bittrex accepts users from all around the world. Countries with some kind of legal restrictions are only prohibited from using it.
3. Faster withdrawals are available
No one wants to wait for their earned money, well with Bittrex you wouldn’t have to! Bittrex knows the number of effort you have put into earring your gains and hence offers faster withdrawal as well.
4. Serving globally
With a commitment and vision to serve the masses, Bittrex has its roots throughout the world and nearly in every continent. Bittrex serves global customers around the world and has support from all around.
5. Real-time execution
When in the world of constantly moving graphs and charts, trading is a real-time and real-life concept that requires on-the-spot action. Bittrex provides it, customers, with real-time transactions and immediate action with its built-in trading engine.
Poloniex offers a great of stability and security to its customers and paves a way for their secure transactions.
2. Trade with the Newest cryptocurrency
With Poloniex you can start your trading journey with the newest cryptocurrency. All the new additions are added to Poloniex immediately.
3. Customer support
Poloniex has a 24 by 7 customer support service in more than 100 countries universally. Such fast-paced services also help to gain the trust of the users along with good backing up.
4. Flexible atmosphere to trade
Poloniex offers its customers a trading environment that would help them in all ways possible. The trading interface is designed to suit all the types of customers varying from new to expert ones.
Poloniex vs Bittrex: Mobile application
Both Poloniex and Bittrex offer mobile application-based services that make your trading even smoother. You can easily download their apps for android and iOS devices.
Bittrex mobile application is an advanced cryptocurrency exchange mobile application that provides individuals and businesses a world-class experience for buying and selling digital tokens. bittrex mobile application provides real-time rates and charts of the crypto. The Bittrex app is available for both Android and iOS users.
- Bittrex application provides a very secure crypto wallet.
- Bittrex offers several features, including access to advanced trading tools like candlestick charts and spreads betting, as well as a good interface.
- Poloniex mobile application is a very secure and stable application.
- Poloniex mobile application provides a dashboard that shows real-time rates and charts so that customers can get real-time rates.
- The Application provides a very good customer care service which is available 24/7 which is available in over 100 countries.
Poloniex vs Bittrex: Fees
Bittrex has a fee schedule and they charge fees on both sides of the transaction:
There is a trading fee. You can see it in the chart below, its fees range from 0.00% to 0.35%. Bittrex does not charge any fees on the deposit but charges small fees on the withdraw of tokens and coins. Bittrex withdrawal fees are different for different coins and tokens.
When most of the crypto trading platforms charge significantly higher fees Poloniex exchange charges its users a tier-based fee and also has special plans like silver, gold, and market maker to which you can easily subscribe. Poloniex fees vary by trade type. If you are using future trading or margin trading services then you have to pay the charges accordingly. The fees of Poloniex range between 0.000% to 0.1550%
Also Read: Bittrex Fees: Are You Paying Too Much Fees?
Poloniex vs Bittrex: Security
Security is a top priority for any crypto exchange, which is why Poloniex has taken many steps to ensure the safety of the user’s funds and personal information, that’s why it has two-factor authentication for the security of the user’s information and funds which are a topmost priority.
When it comes to security Bittrex is the platform that is highly praised. Providing multi-layer security with two-factor authentication, Bittrex offers secure services at its primary goal.
Conclusion: Poloniex vs Bittrex
As new cryptocurrencies are coming these apps are also growing day by day. Poloniex has been growing over the past year, especially with new coins being added to their market, but also with new users on their platform. The growth of Bittrex is due to several features, advanced trading tools like Bittrex charts, candlestick, and spread betting. They both provide a very good interface for trading. Choosing between the two is a tough choice but now it should be with our brief blog on Poloniex VS Bittrex. Hence make your choice accordingly. After gathering the most relevant and updated information about both platforms, you can not easily choose between the two depending on your inclination.
Frequently Asked Questions
Bittrex is Secured with cutting-edge technology and two-factor authentication.
2. Is Poloniex good when it comes to fee charges?
Yes, Poloniex can be considered as a good exchange as it charges very few fees.
3. How much does Bittrex charge per transaction?
Bittrex charges between 0 to 0.35%, its charges change according to the coin or token maker fees.
4. Where is the headquarter of Poloniex?
The headquarters of Poloniex is located in San Francisco, California in the U.S.
5. Is Poloniex a safe exchange?
Yes, Poloniex is a very safe and secure crypto exchange.