Bittrex – cryptocurrency trading platform
Bittrex is one of the most used trading platforms for crypto currency. You can easily buy and sell coins on Bittrex. The purpose of trading? Earn money by buying coins cheaply and selling expensive! How you too can start with Bittrex and what you should pay attention to is explained in the explanation below.
Open Bittrex account
To trade on Bittrex it is necessary to create an account. Follow the following steps:
Go to the Bittrex account page, where you can sign up
Enter personal information such as name, country, e-mail address and a password that you want to use
An email will be sent to the specified email address. Go to your e-mail and click on the verification link.
Your account is now ready to start trading!
We strongly recommend that you use two-factor authentication for extra security! You do this by clicking on ‘settings’ at the top of the screen and then on ’two-factor authentication’. Bittrex uses Google Authenticator for this. Follow the instructions, after this you are assured of a secure account.
Under ‘settings’ it is also possible to request a ‘basic verification’ or ‘enhanced verification’. This increases recording limits. For the ‘basic verification’ you only have to enter some information as your name and address. For the ‘enhanced verification’ you also have to send a copy of your ID and a selfie.
Depositing Bitcoin or Ethers
On Bittrex you normally start with bitcoins, ethers or USDT (tether). Other coins that are available, you pay with bitcoins, ethers and tether. The list of tradable coins is long and also changes regularly. A selection from the range: Bcash, Bitcoin, Ethereum, Iota, Litecoin, Bitcoin Gold, Ethereum Classic, Monero, EOS, OmiseGO, NEO, Dash, Zcash, Ripple, ETP, Qtum, Streamr, Eidoo, Aventus, and Santiment.
If you wish to sell the above coins, you will again receive bitcoins, ethers or USDT for this.
Don’t have Bitcoins yet and do you want to trade? Then you have two options:
Buy Bitcoins from Litebit or BTCdirect. Then transfer them to the bitcoin wallet on Bittrex.
Transfer other currencies in your possession to Bittrex and trade them there for bitcoins or ethers.
Transferring coins to the Bittrex wallet is easy. Go to ‘Wallets’ at the top of the screen. If you want to transfer bitcoins, click on the plus (+) to the left of ‘bitcoin’. You will then see a new screen with a safety message. Click on ‘New Address’ and a new bitcoin wallet will be generated. You can now transfer your bitcoins (BTC) to this bitcoin address for trading.
After you have done this it may take some time (10 minutes to 1 hour) for these to be visible in your account.