Bittrex is a crypto to crypto exchange, although they are getting licensed to link to Banks for cash transactions. This will give it a big edge over Coinbase or Gemini as it has a ton of Cryptos already in its system. Established in 2014, they are based in Seattle Washington with their international division based in Malta.
Bittrex was founded by 3 security experts who built their
protocol based on securing customer crypto.
It is one of the few exchanges that has not had a major hack and thus is
highly trusted. I always have to add
that if you don’t have your Cryptos/private key in hand and secure you don’t
own your Crypto and you are taking a risk.
Security is provided... provided you use the security. I’ll walk you through a few steps
setting this up and I highly recommend you use this Exchange.
1. On the top right click sign up, Fill in the following screen,
2. then go to your email to verify your information.
3. Agree to the terms of service.
4. Under “My Profile” Fill in your personal information and Submit it.
5. In the same page, please click two factor Authentication.
6. You will have to download google authenticator onto your phone.
Now click add on google authenticator and put your phone camera up to the square barcode on the right side of the Bittrex screen. This will automatically add the authenticator to your phone. Each time you login, you will have to use the 6 digit verification code on this app. It is another step but when dealing with Crypto it is HIGHLY recommended.
7. Now click on Holdings on the top right of the page to load some coins from another exchange or wallet.
8. Find BTC and click Deposit to the right.
9. Copy that Public Key, paste this in the withdrawal of the same coin whether its in an online wallet or different exchange. Always make sure to verify it’s the same coin and the address is the same. Otherwise you WILL lose your coins.
Now you are ready to trade, we will use BTC in this example.
1. Click Markets on the top right of the page
2. Go to LTC BTC and to the right click on Trade BTC-LTC >
3. Scroll down to BUY/SELL, choose your Bid Price, I usually just choose last Bid. In my example that is the price of Litecoin measured in BTC.
4. If you are trading all of your BTC go to the bottom and pick "Max Buy". Otherwise you will have to fill in how much of your BTC you wish to trade.
5. Place your buy order and you now own Litecoin.
You are now trading Crypto, congratulations.
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