Bittrex is a US-based cryptocurrency exchange founded by Bill Sahara, Richie Lei, Rami Kawach and Ryan Hentz. The exchange started its operations in 2014. Over the course of past 4 years, Bittrex has evolved as one of the most trusted cryptocurrency exchange.
Bittrex is among the few best cryptocurrency exchanges operating at the moment. It handles a trading volume of nearly $300 million within 24 hours.
Bittrex has listed over 250 different coins at the moment. The exchange offers 450 BTC pairs at the moment and it offers 11 USDT pairs as well. There are other pairing options as well like Ethereum and Neo.
When it comes to exchanges, the thing that gets everyone scratching their heads is the fear of hacks. Keeping the fear of hacks in view, the Bittrex team has taken the best security measures to keep the funds of users safe and secure.
More than 80% of funds are kept in cold storage to ensure that attackers stay away. Bittrex has got a great team working on it to keep the exchange intact every single second.
Bittrex Exchange is not using a third party trading engine. This exchange has its own custom-built trading engine which makes the transactions extremely fast. Bittrex also focuses on customer satisfaction. The support is very responsive when it comes to the queries of the users.
There is no margin trading on Bittrex exchange. It ‘s a simple trading platform with a lot of trading pairs. Because the exchange has very basic features, it doesn’t push the users to go through any kind of complexity.
If you are planning to trade on the Bittrex Exchange, then here is a guide for you. This is a detailed guide to trading on Bittrex Exchange. Let’s have a look at the tutorial now.
Bittrex Exchange: step by step guide to trading
Sign up for Bittrex
- Open Bittrex on your computer and sign up.
- Once you have signed up, open Bittrex and log in.
- On the homepage of Bittrex, you can see all the trading pairs and all the coins that this exchange has.
- On the top-right, you can see 4 tabs including Lab, Orders, Wallets, Settings and Help.
- On the left side, you can see Bitcoin Markets and USDT Markets.
- Make sure that you go to Account Security settings and setup your 2FA authenticator using Google authenticator.
Depositing and Withdrawing funds from Bittrex
- Click on the Wallets tab in Bittrex exchange.
- A page will load showing all the coins available on Bittrex.
- On the left side of each coin, you can see a “+” and a “-“ button.
- The Plus button is for depositing funds on Bittrex and the Minus button is for withdrawing funds.
- Now click on the Plus button and get the address of the coin for Bittrex exchange.
- You will use this address on any other exchange or wallet to deposit funds on Bittrex.
- For withdrawals, click on the Minus button and add the address of any other exchange or wallet along with the number of coins you want to transfer.
Exchanging coins on Bittrex
- Click on the Markets tab appearing on the top-left side of the Bittrex homepage.
- On the Markets page, you will find Bitcoin, Ethereum and USDT markets.
- Select your desired trading pair from the markets now.
- The exchange will now open up showing you the order book and the buy/sell forms.
- You can have a look at the order book now to check out at what price people are willing to buy and at what price people are willing to buy.
- Pick up the buy/sell price that suits you the best and fill the buy/sell form now to place an order.
- Your newly placed order will appear under opened orders on the same page.
- Once someone fulfils your order, your coins will appear in your wallet.
- That’s all.
This is a very basic guide to start trading on the Bittrex Exchange. I have tried to keep this guide as simple as possible. If you any queries, you can drop them in the comments section below.
Here are the other most popular cryptocurrency exchanges.