When it comes to cryptocurrency trading, choosing the right exchange is one of the most critical decisions you'll make. With so many platforms available, beginners and experienced traders alike often find themselves weighing options like Bittrex vs Poloniex—two long-standing players in the crypto space.
Both exchanges launched in 2014, a pivotal year for digital assets following the collapse of Mt. Gox. Since then, they’ve evolved into major platforms offering a wide range of trading tools, security features, and diverse coin selections. But which one truly stands out?
In this in-depth comparison, we’ll analyze security, fees, available currencies, user experience, and overall size to help you determine whether Bittrex or Poloniex better fits your trading goals.
Origins and Background
Bittrex: Built by Security Experts
Founded in 2014 and based in Seattle, USA, Bittrex was created by three former Microsoft and Amazon security professionals: Bill Shihara, Richie Lai, and Rami Kawach. Their background in cybersecurity gave Bittrex an early advantage—trust.
In the wake of high-profile exchange hacks, the team prioritized building a secure infrastructure from day one. This focus on safety helped Bittrex gain rapid adoption among traders who valued protection over flashy features.
👉 Discover a secure platform built for modern crypto traders.
Poloniex: From Music Sheets to Cryptocurrency
Poloniex also launched in 2014 but had a very different origin story. Founded by Tristan D’Agosta—a composer with a music degree from Rutgers University—it started as a side project before becoming one of the most active crypto exchanges globally.
In 2018, Poloniex was acquired by Circle Internet Financial, backed by Goldman Sachs, adding institutional credibility. While not founded by security specialists, Poloniex has significantly upgraded its defenses since a major hack in 2014.
Market Size and Trading Volume
One key indicator of an exchange’s reliability is its trading volume. Higher volume often means better liquidity and faster trade execution.
As of mid-2018 data (a benchmark period for both platforms), Bittrex reported a 24-hour trading volume of $251.9 million**, compared to Poloniex’s **$185.4 million. This puts Bittrex ahead in terms of daily activity, translating to approximately 30% more trading volume.
While both exchanges represent only about 2% of the total global crypto market volume, they rank among the top 15 exchanges worldwide—Bittrex at #12 and Poloniex at #15.
Keep in mind: these rankings can shift quickly due to market volatility and regulatory changes.
Available Cryptocurrencies and Trading Pairs
Bittrex: A Vast Selection
Bittrex is known for its extensive list of tradable assets. It offers 258 cryptocurrency trading pairs, including major coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), as well as lesser-known altcoins such as Siacoin (SC) and Factom (FCT).
This breadth makes Bittrex ideal for traders exploring emerging markets or diversifying across niche projects.
However, for beginners, this abundance can be overwhelming. Not all listed coins are reliable or liquid—so due diligence is essential.
Poloniex: Focused but Flexible
Poloniex offers 97 trading pairs, a much smaller selection than Bittrex. However, it focuses on quality and usability. Major cryptocurrencies like Bitcoin and Tether (USDT) have multiple pairing options—BTC alone supports 43 unique pairs.
While less expansive, Poloniex’s curated approach benefits new users who want simplicity without sacrificing core functionality.
👉 Access a wide range of digital assets with low barriers to entry.
For beginners, Poloniex wins in terms of ease of use and clarity. For seasoned traders seeking variety, Bittrex takes the lead.
Fee Structures: Simplicity vs Flexibility
Bittrex Fees: Straightforward and Predictable
Bittrex uses a simple fee model: 0.25% per trade, regardless of trade size or type. Whether you're buying $50 or $50,000 worth of crypto, the rate remains consistent.
This transparency makes budgeting easy and eliminates surprises—a big plus for novice traders.
Poloniex Fees: Tiered Based on Role and Volume
Poloniex uses a more complex system based on whether you’re a maker or a taker:
- Takers (those filling existing orders): Pay 0.25% if trading under 600 BTC (~$5M at current prices).
- Makers (those placing new orders): Often pay lower fees or even receive rebates for adding liquidity.
While experienced traders benefit from this model, beginners may find it confusing. The potential savings are real—but require understanding order book mechanics.
Winner? Bittrex, for simplicity. But advanced users may prefer Poloniex’s flexibility.
Security: A Critical Factor
Is Bittrex Safe?
Yes. Bittrex has never been hacked, a rare achievement in the crypto world. Key security features include:
- 80–90% of funds stored in cold storage
- Mandatory two-factor authentication (2FA)
- Strict KYC verification processes
- Proactive monitoring and threat detection systems
Its team’s cybersecurity background plays a major role in this strong track record.
Is Poloniex Safe?
Poloniex was hacked in 2014, resulting in the loss of 12.5% of Bitcoin holdings at the time. However, the team responded swiftly, halted further damage, and reimbursed affected users.
Since then, Poloniex has implemented enterprise-grade security measures:
- Cold storage for the majority of assets
- Encouragement (but not enforcement) of 2FA
- Regular audits and infrastructure upgrades
While now secure, its past incident gives Bittrex a slight edge in trustworthiness.
👉 Trade with confidence on a platform that prioritizes asset protection.
User Experience and Accessibility
Both platforms cater primarily to intermediate and advanced traders.
Bittrex Interface
- Clean registration and verification process
- Fast trade execution thanks to elastic computing
- Data-rich trading interface with charts, order books, and depth analysis
- Overwhelming for beginners due to information density
Poloniex Interface
- Simple sign-up and verification
- Intuitive layout with clear navigation
- Offers margin trading—allowing leveraged positions
- Advanced tools may intimidate new users
Margin trading introduces high risk and isn’t recommended for beginners.
Verdict: Both are usable but not beginner-friendly. Consider starting elsewhere (like Coinbase or OKX) before moving to either platform.
Frequently Asked Questions (FAQ)
Q1: Can I buy crypto with fiat on Bittrex or Poloniex?
No. Neither exchange supports direct fiat deposits for most users. Bittrex allows wire transfers in USD—but only for accounts depositing over $100,000. Most beginners will need to buy crypto elsewhere first (e.g., via Binance or Coinbase) and then transfer it to Bittrex or Poloniex.
Q2: Which exchange has lower fees?
Bittrex offers simpler and equally competitive fees at 0.25% flat. Poloniex matches this for takers but offers lower rates for makers. For most beginners, Bittrex is easier to navigate cost-wise.
Q3: Are Bittrex and Poloniex available worldwide?
Bittrex restricts access for users in certain countries, including the U.S. in some cases after regulatory adjustments. Poloniex also limits availability depending on local regulations. Always check regional accessibility before signing up.
Q4: Do they offer mobile apps?
Yes. Both exchanges have mobile apps for iOS and Android, allowing on-the-go trading and portfolio monitoring.
Q5: Which is better for beginners?
Neither is ideal for absolute beginners. Both lack fiat on-ramps and have complex interfaces. New traders should start with more user-friendly platforms before transitioning to Bittrex or Poloniex.
Q6: What happened to Poloniex after being acquired by Circle?
After acquisition in 2018, Poloniex underwent significant technical improvements and separated operations from Circle’s other ventures. It continues to operate independently with enhanced security and compliance protocols.
Final Verdict: Bittrex vs Poloniex
| Feature | Winner |
|---|---|
| Security | Bittrex |
| Fee Simplicity | Bittrex |
| Coin Selection | Bittrex |
| User-Friendliness | Poloniex |
| Advanced Trading Tools | Poloniex |
There’s no clear "best" exchange—it depends on your needs:
- Choose Bittrex if you value security, transparency, and access to a broad range of altcoins.
- Choose Poloniex if you're interested in advanced trading features like margin and maker-taker dynamics.
For new traders: start with beginner-friendly platforms, then graduate to these when ready.
Core Keywords: Bittrex vs Poloniex, crypto exchange comparison, cryptocurrency trading fees, exchange security, trading pairs, beginner crypto exchange, Poloniex review, Bittrex review