Bittrex Global is known for being the most secure crypto trading platform in the world. The company accepts users from all over the world and it is one of the fastest-growing trading platforms as well. Bittrex Global follows all the rules and regulations laid down by various countries and it makes sure to provide an easy, safe, and secure platform to its users. Their cutting-edge technology helps in providing an exceptional level of performance to its customers. The platform is easy to use and it provides one of the fastest transactions available today. So let us get into this article to read the success story of this innovative company.
Bittrex Global – Key Points
- Company Name – Bittrex Global
- Founding Year – 2014
- Headquarters – Liechtenstein
- Number of employees – 50 - 75
- Website – bittrex.com
Bittrex Global – Founders and Team
- Stephen Stenberg – Chief Executive Officer
- Kwon Park – Chief Strategy Officer
- Chris Sinkey – Chief Business Officer
- Jason Park – Director of Business Development
- Michael Schroder – Chief Compliance Officer and Chief Risk Officer
- Jeffrey Baron – Chief Compliance Officer
- Oliver Linch – General Counsel
- Paul Grier – Chief Marketing Officer
Bittrex Global – Brand Name, Logo, and Tagline
- Brand Name – The company’s brand name is very unique and it helps it to differentiate itself from other companies in this market.
- Logo – The company’s logo is in classic blue and black colour. It is one of the most ideal and preferred colours for the companies as it helps to attract the customers very easily.
- Tagline – Bittrex Global’s tagline is – Starting Block.
Bittrex Global – Business Model
The company’s business model has single-point access to trade all cryptocurrencies available in the markets. They also have a highly scalable trade machine engine, that is capable of processing millions of transactions. Every transaction on the Zebpay platform incurs a transaction fee.
Just like any other crypto platform, Zebpay makes money through some the ways like deposit fees, withdrawal fees, listing fees, trading commissions, etc.
Bittrex Global – USPs
Some of the USPs of the company are as follows:
- Access to top coin markets – The company provides direct access to its traders to the top coin markets. They can capitalize on any crypto of their choice and trade with confidence.
- 100% Security – The platform offers the utmost security level to its customers. It is one of the top priorities of the company and they build their platform with multiple layers of reliable technologies, effectiveness, and protection to keep transactions and funds secure.
- Fast and Robust Technology – Bittrex Global has custom-built its trading engine to scale and speed up the execution of heavy demand under real-time order.
- Quick Deposits & Withdrawals – The company has an efficient and automated monitoring platform that helps in providing the fastest transaction to its customers.
- Global Customers – Bittrex Global has customers from all around the world. It is also beneficial for the users as they can trade with people from various places.
Bittrex Global – Partners
Some of the partners of the company are as follows:
- Biteeu – Estonia, Australia
- CompleX – Mongolia
- Catalyx – Canada
- iBitt – Chile, Peru
- Rain – Bahrain
- Valr – South Africa
- Dasset – New Zealand
Bittrex Global – Investments
Bittrex Global has made a total investment of $53.4 Million. Their recent investment was done on Feb 28, 2022. All the details regarding the investments done by the company are as follows:
- $3.4 Million – Series A Round, VALR, Jul 21, 2020
- $50 Million – Series B Round, VALR, Feb 28, 2022
Bittrex Global – Acquisitions
The details regarding the acquisition done by Bittrex Global are as follows:
- Tradedash – Jul 3, 2019 (Undisclosed Price)
Bittrex Global – Competitors
Bittrex Global is performing well in its industry. But the company already has many competitors. Some of them are considerably new startups while some have a really good customer base. The top competitors of the company are as follows:
- Bitxoxo Bitcoins
Bittrex Global – Challenges Faced
Challenges are in the path of every company. It is not easy to survive in this competitive market as you have to face new difficulties almost every day. Some of the major challenges faced by the company are as follows:
- Government Policies – Every country has its political issues and policies. These socio-economic challenges have led the company to discontinue its services in as many as 31 countries, including Zimbabwe and Venezuela. This certainly leads to revenue and business loss for the company and it is one of the major challenges to overcome.
- Competitors – The company is thriving in its industry and it has a huge user base. It still has various strong competitors in the market and few of them are not easy to overshadow. These companies have millions of customers and they have good revenue as well.
- Price Drops – The price of cryptos sometimes falls drastically and this leads to outrage amongst the traders. Some start selling their assets due to the panic and some start buying them due to the price drop. Handling such chaos all at once becomes quite hectic for the company.
- Doubts and Fears – Despite having various legislations and regulations around cryptocurrency, it is still considered a murky area in various countries. People have their doubts and fear regarding this aspect of investment and hence a lot of people still doesn’t see the long term potential of this asset. However, Bittrex Global is taking initiative in teaching people about cryptocurrency so that they can become familiar with this concept and enter into this ecosystem without having any fear.
Bittrex Global – Future Plans
Bittrex Global has many plans for the upcoming future. Some of the exciting plans of the company are as follows:
- India already has millions of crypto investors and the number is constantly growing. Bittrex Global is planning to get more traders onboard by the end of FY 2023.
- The company will be using the funds to increase its customer base in India and other countries as well.
- They will be hiring more people in the coming FYs as the company is growing at a rapid rate.
- The company is also planning to expand its horizon outside cryptocurrency very soon.
- Bittrex Global is also focusing on increasing its revenue by the end of next FY.
- The company is planning to get around 50 million Indians into this cryptocurrency industry by the end of FY 2023.
- They are also planning for widespread adoption amongst Generation Z and millennials and many new crypto enthusiasts.
- The company will keep on spreading awareness amongst people about cryptocurrencies.