👉 Discover the best crypto exchanges
Cryptocurrency trading has transformed how people invest, with over $23 billion traded daily. Choosing the right exchange is critical for beginners—safety, fees, and usability are key factors. In this guide, we compare Bittrex and Poloniex to help you decide which platform suits your needs.
Origins of Bittrex
Founded in 2014 by Bill Shihara, Richie Lai, and Rami Kawach, Bittrex is headquartered in Seattle, USA. The team, with backgrounds at Amazon and Microsoft, prioritized security after the Mt. Gox collapse. Their expertise built a trusted exchange known for robust safeguards.
Key Highlights:
- Security-first approach
- Cold storage for 80–90% of funds
- No recorded hacks
Fundamentals of Poloniex
Poloniex, launched in 2014 by Tristan D’Agosta, started as a music entrepreneur’s venture before pivoting to crypto. Acquired by Circle (backed by Goldman Sachs) in 2018, it offers a streamlined trading experience.
Key Highlights:
- Owned by Circle Internet Financial
- Margin trading features
- Competitive fee structure
Bittrex vs Poloniex: Key Comparisons
1. Exchange Size
- Bittrex: ~$250M daily volume
- Poloniex: ~$185M daily volume
Bittrex handles 30% more trades, ranking 12th globally vs Poloniex’s 15th.
2. Supported Currencies
- Bittrex: 258+ trading pairs
- Poloniex: 97 trading pairs
Bittrex excels in diversity; Poloniex simplifies choices for beginners.
3. Fee Structures
| Platform | Standard Fee |
|----------|-------------|
| Bittrex | 0.25% |
| Poloniex | 0.25% |
Poloniex adjusts fees for makers/takers, while Bittrex keeps it flat.
4. Security Measures
- Both use cold storage and 2FA.
- Poloniex suffered a 2014 hack (refunded users); Bittrex remains unhacked.
5. User Experience
- Bittrex: Advanced data, elastic computing.
- Poloniex: Cleaner UI but includes complex features like margin trading.
👉 Explore secure trading platforms
FAQs
Q: Which exchange is better for beginners?
A: Neither is ideal—consider Binance or Coinbase for simplicity.
Q: Can I trade fiat currencies on these platforms?
A: No. Use USD Tether (USDT) or fund via wire transfers (Bittrex: $100K+ minimum).
Q: Are these exchanges safe?
A: Yes, but always enable 2FA and follow security best practices.
Final Verdict
For Advanced Traders:
- Bittrex: Best for coin variety and market depth.
- Poloniex: Ideal for margin trading.
For Beginners: Opt for fiat-friendly exchanges like Binance or Kraken.
Still undecided? 👉 Compare top crypto exchanges
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