Bittrex Global tries to attract more traders and increase trading volumes by improving its offering. New features and lower fees will make the platform more attractive, in addition to the new headquarters in Liechtenstein.
Liechtenstein-based crypto exchange Bittrex Global announced new platform features. The goal is to give users additional benefits, control, and flexibility when trading crypto-assets. The new features are part of its Trade Your Way campaign, which seeks to improve the user experience.
New features to improve the mobile app and website
Bittrex Global users can now purchase digital assets on their mobile devices and via the Bittrex Global website using credit and debit cards. This feature will first be made available for users in the UK, Germany, France, and the Netherlands and will later be rolled out to all Bittrex customers globally.
Bittrex also introduces conditional orders on mobile, meaning users can place stop-loss orders via the Bittrex Global app. As the credit card support, this feature will also be available on both the app as well as the website.
There will also be “new TradingView charts which will include real-time data and users will be able to trade directly on-chart for intuitive trading.” The website will also have new layout options and themes, and more.
“We are continually working on ways to provide a better experience for users,” says Bittrex Global COO Stephen Stonberg. “An enhanced mobile trading experience is one of our top priorities and creating this new credit card gateway is an important way of lowering the barriers to digital asset trading for new and existing customers alike. These features are the first of many we have planned that will underline Bittrex Global’s ambition to provide the best and most secure platform for digital trading.”
Regaining market share in a competitive market
Besides an improved interface, Bittrex Global also lowered its maker and taker fees by over 50% until April 23. “These aren’t just the lowest fees we’ve ever had, they’re the lowest in the industry,” writes Bittrex Global.
The exchange also launched a referral program through which Bittrex users can share a referral code with their contacts. Whenever a new user signs up through that code and completes the first trade, the referrer will earn a percentage of the commission of this trade as well as future trades.
The new features, the lower fees, and the referral program all aim at attracting more traders and increase trading volumes. During the 2017 all-time high bull run, Bittrex was one of the leading platforms and briefly attracted cryptocurrency inflows representing 40% of the total market, according to CryptoQuant data. As of February 2020, however, Bittrex’s crypto inflows represent less than 10%. That’s why the company is trying to increase its market share with a better offering.
An additional benefit of trading with Bittrex is its Liechtenstein base. The exchange last year consolidated its international offering as Bittrex Global and moved its base from Malta to Liechtenstein. According to CEO Kiran Raj, the Blockchain Act was one of the reasons why the exchange has decided to move to Liechtenstein. No other country has yet created this level of legal certainty, which is paramount for Bittrex’s business model.