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|Year of foundation||2014||2014|
|Languages||English, Russian, Chinese||English|
|Mobile app||iOS, Android||iOS, Android|
User Interface and Features
The first impression is the most accurate, so the user interface plays a huge role. Although both Poloniex and Bittrex have tried to provide the user’s full user experience, one of them is still a bit more beginner-friendly and has more features.
As for Bittrex, it looks very advanced at first glance, although, for a beginner, this exchange may seem quite complicated. The trading page has a myriad of tools, buttons, charts, recent trading results, and other attributes that can cause headaches for a beginner and a seasoned crypto-trader.
Bittrex provides an intuitive experience, and yes, the charts here are much better than Poloniex. But if you are a new user, you may find Bittrex a bit difficult to work with. Moreover, Bittrex doesn’t have stock/margin trading features, which gives Poloniex a slight advantage over Bittrex.
When you see the Poloniex interface for the first time, it looks simple, and you can create a login account right away. Inside the exchange, you will see price charts of cryptocurrencies in several markets. This gives you a direct opportunity to trade different currency pairs such as BTC, USD, ETH, XMR.
In addition to fast and easy trading, this cryptocurrency exchange has unique features like Margin Trading (stock buying on credit) and Margin Lending (margin lending). These two features are handy and attractive when it comes to an additional source of income. In-stock/margin trading, you can lend the balance of your account to another user at interest. This feature currently applies to 12 cryptocurrencies, including Bitcoin, Ethereum, Monero, and others.
Trading Volumes and Traded Pairs
Poloniex and Bittrex are currently two popular exchanges for trading cryptocurrencies: both bitcoin and altcoins.
Bittrex is pulling away significantly with 278 trading pairs and a volume of $346,006,672 USD or 38,832 BTC. In terms of pair activity, the latest trends appear faster on Bittrex; interesting coins come out at the top there, you can follow their popularity and try to play on the waves. Bittrex wins in terms of the variety of coins available for trading on the exchange.
Poloniex currently has 99 pairs, with volume of $103,188,646 USD or 11,577 BTC. Poloniex is more conservative; there top 10 known and old coins like Bitcoin Cash, Bitcoin, Ripple, Ethereum, Monero, Ethereum Classic, Litecoin.
The commissions’ differences are not significant, but even a couple of cents makes a difference with volatility and high trading volumes.
Bittrex has a direct commission: no matter how much you trade, you pay 0.25% per trade.
Poloniex has a more complicated system. Every 24 hours, it calculates the last 30 days of trading volume in your account (spot and margin) and dynamically adjust your fees. If you place an order offering to buy a coin at a lower market price than the lowest price (or offer to sell above the offer price), you pay only 0.15% commission. If you take an order, there is a 0.25% commission for you. Poloniex commission is technically 0.40% commission from the two parties.
Like many of today’s exchanges, both Bittrex and Poloniex were organized in the United States. This increases the likelihood of better support and adds extra confidence that these companies are subject to U.S. laws and the protection of the legal system.
Bittrex was founded by four former security professionals who worked at Microsoft, Amazon, Qualys, and BlackBerry. They use an “elastic multi-stage wallet” strategy to store coins – 80-90% of the funds are offline and secure. Two-factor authentication is required for all withdrawals and API usage.
Poloniex also requires two-factor authentication for cryptocurrency deposits and withdrawals. Many people find Poloniex to be the best option in many ways.
Pros and Cons
I have been studying cryptocurrency for over 5 years. I have accounts in every exchange and I test everything on myself.
I want this market to be more understandable for everyone.