Coin Coverage
One of the strongest advantages of Bittrex over some of the other exchanges is the number of cryptocurrencies that you can trade. In fact, they are probably one of the top exchanges when it comes to coin support.
This is even more attractive when you think about the fact that they have now introduced fiat funding. This means that they are probably one of the only exchanges that you can easily convert fiat currency into a range of different smaller altcoins.
Apart from all of the listings, they have also created four different markets for some of the coins. For example, they have the BTC market which has over 220 coins which you can trade. They also have Tether (USDT) markets, an ETH market and the newly introduced USD fiat market.
While it is great to see such a large selection of coins that are listed on their books, this does not mean that all of these coins are created equal. Some of them have very thin volume and hence are quite illiquid so be aware of this before placing an order.
Bittrex Registration
So you want to give Bittrex a try?
You will need to create an account and signup on their exchange. You can head on over to their registration page and you will be presented with the following form.
Once you have signed up and created your account you will need to confirm the registration by following the link that they sent to your email. After confirming your account, you will need to give them some basic information about yourself.
This includes such information as your personal details as well as residency etc. This is required because they will have to confirm the identity of the user to fully activate the account.
KYC and Verifications
While anonymous accounts can be great for the privacy of the user, they are viewed with a great deal of skepticism by international regulators. Given that Bittrex is now trying to expand, they have decided to eliminate all anonymous accounts.
This means that if you want to start trading on Bittrex you will have to complete their mandatory KYC and AML checks. For the basic level of verification, you will need to provide them with a copy of some form of government issued ID.
Bittrex makes use of a third-party verification system called NetVerify. They will ask you to upload your ID as well as to take a picture to ensure that the ID is indeed you. Make sure that when you are submitting your ID that you get the full document and do not cut off any portions of the image.
Assuming that the documents are perfectly clear and your selfie is well taken then you can expect a verification within a few hours. The NetVerify software is automated so it should speed up the process for you.
However, these are just guidelines.
During the bull run of 2017, verifications were taking days. This could have been as a result of the massive influx of new users that they were getting. In fact, there was a period in which they actually had to halt new users due to the influx.
However, given that Bittrex has increased their support headcount as well as the fall in trading demand, verification times are way back down. Hence, the 2-3 hour waiting period is probably in line with what you should expect. For example, there was this reddit post where most users confirmed the really quick verifications.
Corporate Accounts
If you have a company that deals with cryptocurrency on a regular basis then you may want to consider a corporate account. These accounts have a lot less restrictions and have better rates, customer service and no limitations.
However, in order for you to get access to this account level you have to complete their corporate KYC checks. These require a lot more paperwork and back and forth than when setting up your own personal account.
They will need information such as articles of incorporation, business address verifications as well as tax numbers. They will also require all persons with more than 25% shareholding in the company to complete a 'significant persons' KYC. Corporate verifications could take up to a week.
These are only some of the requirements for opening a corporate account. If this is something that could really suit your company's needs then you can request a corporate account through their form.