Bittrex Fees Review - Is Bittrex Cheaper than Coinbase?
So, is Bittrex fees cheaper than that of Coinbase? If it is, what are their fees and how moderate is it?
The problem of high gas fees and other transaction cost seem to be having its toll on cryptocurrency enthusiasts. Thus, platforms that charge lower trading fees tend to attract more attention. So, how moderate is Bittrex fees?
Bittrex is a fast emerging cryptocurrency exchange established in 2012 and located in Seattle, United States. It helps cryptocurrency users to purchase their favorite cryptos at reasonable rates.
The major means of exchange is the USD to any cryptocurrency of your choice. There are over 220 cryptocurrencies traded on Bittrex platform. It is an easy to navigate platform with an intuitive user interface.
Bittrex Fees Vs Coinbase
Coinbase vs. Bittrex Global are two popular cryptocurrency exchangers in the United States. Bittrex vs. Coinbase tend to have a lot in common. But their target audience is not entirely the same.
Coinbase has 56 million users and a capital base of $300 billion as quarterly trading volume. However, Bittrex fees vs. Coinbase seem to give Bittrex an edge. Bittrex tend to offer more user friendly transaction fees compared to Coinbase high fees. That tips off daily traders with multiple transactions.
Coinbase vs. Bittrex Fees
| Type of Fee | Bittrex | Coinbase |
|---|---|---|
Withdrawal fee |
0.2% |
3% |
Trading fee |
0.399% |
0.2% |
Bittrex Trading Fees Explained
So, how much does Bittrex charge per transaction? When trading, there are some attractive packages to look at. And they include the crypto derivatives, crypto trading. Typically, Bittrex charges 0.2% as commission from trading fees.
They make use of USD and Euros for trading. Bittrex exchange trades both tokenized assets and cryptocurrencies. However, compared to other cryptocurrency exchanges Bittrex seems to have a more friendly trading fee. When you compare Bittrex fees to Coinbase or Binance, it falls on the midpoint. That should be a plus for low volume traders.
| Volumes in USD | Makers | Taker Fee |
|---|---|---|
0 -50,000 |
0.200% |
0.200% |
50,000 – 1,000,000 |
0.120% |
0.180% |
1,000,000 -10,000,000 |
0.050% |
0.150% |
10,000,000 -60,000,000 |
0.020% |
0.100% |
60,000,000 + |
0.000% |
0.080% |
Bittrex trading fees run using the buy/sell orders as maker and take. The maker adds liquidity and taker removes liquidity. The fees will reduce as you trade over 30 days trading period.
Trading Fees
| Bittrex | Coinbase |
|---|---|
Makers and takers reduce over 30 days |
Coinbase trading fees use a string of spreads with an average of 0.5%. The fees go higher flat fee or variable fee for different locations |
When trading less than $5,000 in a month users pay fees starting at 0.75%. The fees drop to maximum 0.05% for volumes up to $100M |
Coinbase charges a flat fee of $0.99 to $2.99 for order of $1 to $200 |
There are no charges on cryptocurrency deposit or FIAT |
Each variable calculation goes with the percentage for the specific trade. Every trade has separate criteria. There’s a flat 2% fee for credit transactions on Coinbase. You pay 2.49% flat fee for ATM withdrawal for cryptocurrency. That does not cover the ATM operator fees. |
You can see the withdrawal fees before making an withdrawal order |
User pays another 4% charge for making purchases with credit or debit cards. |
User pays 3% charge on credit card transactions |
User pays 2% for crypto-to-crypto transactions |
However, Coinbase has the largest trading volumes recorded by any exchange on a daily basis. In 2021, it traded at least $331 billion worth of trading daily. Unfortunately, it comes with higher trading fees for traders. That’s where Bittrex offers lower trading fees and a more user-friendly experience.
Brittex currently enjoy fewer trade volumes unlike Coinbase. CoinGecko says Brittex Global ranks number 24 for daily volume trades and security. But with smaller volumes, Brittex offer lesser slippage and exceptional liquidity.
Bittrex transaction fees occur with a matching order between two transactions. Like a Peer-to-Peer system, the engine brings buyer and seller together to transact. The system then charges a transact fee based on the order price. Brittex calculates the trade by the amount and divide by purchase price rate to cover the trade.
There will be no transaction fee is the order was not executed in the end. Any part of the transaction that was declined or not executed will be fully refunded by the system. The currency pair also determines the transaction fee paid per currency pair. And a 30-day trading volume will help reduce the fees depending on whether it is a Maker or Trader.
Bittrex Non-Trading Fees
Does Bittrex Charge Withdrawal Fee?
Yes, Bittrex charge withdrawal fees. But the great part to it is that they charge moderate withdrawal fees. Arguable they are not the cheapest but still cheaper than Coinbase. Such lower fees from Bittrex mean good news to low volume traders. High volume traders still stand to gain when they trade for a 30-day period by enjoying special discounts. So, the more trades a user makes the more the user saves overtime.
Generally, Bittrex Global has zero charges for cryptocurrency deposits and FIAT transactions. That saves the user from additional fees incurable on Coinbase. Even when there are transaction fees, it depends on the currency.
Does Bittrex have a conversion fee?
One exciting aspect of Bittrex fees is that they have moderate transaction fees. Bittrex fees revolve around 0.75% for makers and takers. It is not the lowest in the crypto market but it is also not the highest. Cryptocurrency news and estimates show that the average spot trading puts maker fees at 0.178%.
other non-trading fees (optional)
The most important non-trading fee is to note that Bittrex does not charge any fee on deposit. Also, traders can enjoy one of the lowest trading fees ever in the crypto market. Trades scheduled for 30 days enjoy lesser fews.
Bittrex Interest Rates
So, does Coinbase offer interest on Crypto? Yes, you can enjoy up to 5% Annual Percentage Rate (APR) on Coinbase.
Does Bittrex Pay Interest?
Bittrex also has a 5% Annual Percentage Rate (APR). It works as the cToken increases in value from borrowers. Holders enjoy compounding and continuing interest based on their growing balance.
Affiliate Programs
For affiliate programs and promoters, you can use Bittrex referral program as another stream of income. You can earn up to 10% as referral commission for each person invited into the Brittex platform. But you must sign up first and use your unique referral link.
How to Reduce Bittrex Trading Fees?
Does Bittrex have trading fees? All cryptocurrency introduces trading fees as a way to increase liquidity and keep the system running. Members incur trading fees from their matching order. For each executed transaction, there is a trading fee. However, there are no fees for unexecuted transaction.
Brittex charges fees. The worse part is withdrawing using Bitcoin. Due to the surge in the price of BTC it is not the best option for withdrawing. Within a space of two minutes you can pay fees in the range of $20 to over $100 depending on the amount you intend withdrawing.
Here’s how to reduce your Brittex Fee:
Use Brittex as your regular trading platform. That way you only make withdrawals when you want to make have large sums to withdraw. For example, to withdraw $500 four times in a month you can end up with $120 fee. But if you withdrew $2000 once you could end up with $75 as fee.
Alternatively, you can swap your BTC for ETH and send to other wallet as Ethereum. Brittex deal with ETH is 0.002 ETH. That will cost far less than 0.001 BTC. There are other currency pairs like Litecoin but ETH seems to have the lowest fees.
Top 5 Bittrex Reviews
-
Comment
I advise you not to mess with Bittrex. And don't trust this broker, you won't be able to earn any money here, and you won't be able to withdraw your own if you want. I ended up with 600 bucks. It's all for the fool. It's hard to feel like this, but what can you do...
-
Comment
Bittrex is a medium format kitchen with good advertising. The gullible trader is underway. The terminal is buggy, with the withdrawal of big problems. In short, don't mess with them. There are a lot of adequate companies, but this is not Bittrex for sure!
-
Comment
I started trading on Bittrex in 2016. I tried other trading platforms from time to time but decided to stop at this one. There are no additional opportunities for earning money such as investment programs, risk-free transactions, etc. It is difficult to find something better specifically for independent trading. The mobile application is gorgeous. Deposit account replenishment and withdrawals contain no problem. Usually, I use a Mastercard card. Plus, it should be noted that the platform provides a multi-currency account where you can store your assets for free. For five years of interaction with this exchange, I have never used the support team. This is a good indicator.
-
Comment
The Bittrex exchange has really impressive trading volumes, so there are no problems with liquidity. Finding a buyer or seller is easy. One of the factors of successful trading is also a smart and functional terminal and the execution of transactions without problems. The only drawback that I noted is the lack of convenient channels for contacting technical support. Because there is no call center, you have to use the ticket system or mail, which is not very convenient.
-
Comment
I already use Bittrex. There is no direct connection with the technical support service and there is no demo either. I had to learn the functionality of the terminal by trial and error, but it did not take much time. The platform is simple and works without bugs, and the execution of transactions is really excellent. In addition, the variety of cryptocurrencies and tokenized assets are available for purchase and sale.
FAQs
How is 30-days Trading Volume Calculated on Bittrex?
Bittrex Global computes the trading volume over a 30-day cycle. But it runs the trade a daily basis. Thus, each member account volume is calculated using the trading fee schedule. And that’s typically calculated within the hours of 00:30 UTC to 01:30 UTC daily.
Coinbase vs. Brittex Which Has Lower Fees?
Brittex charge far lower than Coinbase. You can pay as low as 0.25% lesser than Coinbase. Transaction charges on Coinbase are as high as 1.49 – 3.99% more. That makes transaction on Brittex more profitable to traders than that of Coinbase.
Is Brittex Safe for Trading
Brittex has been in the crypto market for over a decade now. Their security aperture is amongst one of the best in the US. Therefore, Brittex is safe for trading.
Brittex uses what is known as an elastic multi-stage wallet security. It helps to keep all your funds offline as in a cold wallet. That makes it impossible for hackers to track your funds online. Also, Brittex requires all users to enable Two Factor Authentication (2FA). Without 2FA you cannot make withdrawals or use APIs.
No doubt, Coinbase is an excellent place to start your crypto trading experience. However, high transaction fee is enough to weaken your return on investment. That when it is time to adopt Brittex as your trading partner.
Bittrex fees makes it an interesting opportunity for traders to enjoy lower rates. Bittrex fees vs. Coinbase shows that it offers cheaper fees than Coinbase. That overtime gives traders a little more than what you get on Coinbase within 30 days.
What makes Bittrex an exceptional deal? First, it has been in the cryptocurrency market for about a decade. Its high level security aperture makes it a top priority for beginners and advanced traders. If you want to trade in a secure environment for long then, Brittex has what you need.
Brittex has never experienced any security breach since its inception. With a trading volume of over $300 million daily, there’s enough liquidity to generate revenue for traders.
Related Articles
_.png)
Team that worked on the article
Glory is a professional writer for the Traders Union website with over 5 years of experience in creating content in the areas of NFT, Crypto, Metaverse, Blockchain, or Web3 in general. Over the last couple of years, Glory has also traded on different cryptocurrency and NFT platforms including Binance, Coinbase, Opensea, and others.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).