Cryptovest: Bittrex to open exchange in EU
Aside from the news of Thailand to consier regulating ICOs that I have shared yesterday, Bittrex also shared that they are opening new exchange in EU, in cooperation with invest.com
Bittrex and their effort to gain market share
I have been using Bittrex for a long time. A US-based trading platform has become quite popular last year till Korean exchanges and Binance opened. Since then, Bittrex has struggled to maintain their trading volume everyday.
Why?
An easy explanation for Bittrex is that they were quite slow in listing new coins. From last year, I only remembered Cardano (ADA), the other coins were not very well marketed to the audience. On the other hand, Bittrex also has some down-time to disable new user registation due to possible money laundry
Their efforts in 2018
In 2018, they have made many bold moves in order to gain marketshare. Firstly, they accept the fiat pair (USD/ EUR) to trade with major coins, such as BTC, ETH. Furthermore, they list more coins, which are well-known from the community, such as Nagacoin (NGC). Even though it was not the first exchange to list, but rather than not to list at all.
Another move is their plan to approach EU market by cooperating with Invest.com. In my perspective, this is an recognisable effort in order to extend their brand to the EU market, which has a few exchanges at the current.
What do you think about Bittrex? Let me know!
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Great article. After Binance in Malta, now also Bittrex, very positive news from Europe!
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Bittrex had more trust than other exchanges. It may not put out many coins but thats a good thing in my book.
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i have been a bittrex user for a year now. their fee has been a little high than other exchanges. sometimes i do small trades to keep myself busy and the higher fee becomes an issue but fee is a small factor.
in december when the market was going up on daily basis, i logged in and found my account locked and i have no access to my funds. that was a huge setback. i contacted their support and they needed few more documents with selfies, all of which i had already supplied for my account verification. it took me about 10 days to get my account settled and that was a deal breaker for me.
i still continued to use bittrex but started accounts on other exchanges too one of which happened to be binance. i did not like their interface as much initially and their desktop app was missing alot of functionality, everytime i use advanced mode my browser would halt so i kept using bittrex as my primary account and only transferred small funds to binance for tokens which were not available on bittrex.
Bittrex decided to change their UI, that really did it. their new interface is clumsy, every time i click a chart and try to scroll down it does not scroll and i have to refresh the browser. the order history does not update in timely manner. after a few days of frustration i finally moved to binance and it looks like i will stay with binance for good until they do something silly.
to wrap it up, bittrex need to focus on other issues as well before they can compete with these exchanges. you mentioned good points in your post i just shared my experience.
Coins mentioned in post:
This is great work my dewd :)
@attoan.cmt it's very good step from bitrex. And i hope this will give some positivity in crypto market
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