Over the past few days, several people have asked me about my opinion in regards to exchanges. While it’s a public secret I hold no real love for Cryptsy, there are other exchanges out there I do like to use. BitTrex is one of those exchanges.
Honestly, I’m not hard to please when it comes to exchanges. All I want is a decent looking website, a good selection of alt coins, preferably trading against Bitcoin, and a secure exchange where I can relatively safely trade my coins.
Having been burned in the past with other exchanges that are now no longer in business, and as I mentioned previously, not really liking Cryptsy too much, my choices were quite limited in the past, because of the lack of competition in the alt coin space.
Luckily for me, and I’m sure a lot of people don’t mind this either, we have seen a few good exchanges pop up over the past few months. The reason why BitTrex caught my attention, is because they are usually pretty fast to add new coins.
While adding new coins promotes pu;p-and-du;p tactics in some way, it also allows for some interesting investment opportunities. For example, I bought up SilkCoin on BitTrex when it got added, simply because they were the first exchange to do so.
Even though that’s all fine and dandy, if your exchange platform isn’t secure, people won’t use it. BitTrex has a proper platform, which is also very secure. The fact they keep 80-90% of funds offline at all times is just one of the examples of that.
Another big part of securing online services, is the usage of two-factor authentication. Even though nearly every exchange offers it at this time, BitTrex does seem to handle things just that tiny bit smoother. Maybe I’m imagining it, but I really like it.
Having your trades, withdrawals and deposits executed fairly fast is what makes it a very fun experience to use BitTrex. While other exchanges tend to lag, BitTrex feels a lot more snappy than some of their bigger competitors.
I’m not saying BitTrex is the perfect exchange for everyone, as there shouldn’t be “one exchange to rule them all What I am saying is that, if you haven’t tried BitTrex yet, you really should give it a shot, you won’t regret it.