Bittrex is a well-known crypto exchange where you can buy or sell crypto tokens instantly. This can help you make your transactions more effective and profitable.

When it comes to buying or selling cryptocurrency, one of the most important aspects to consider is the transaction speed. A few years back, customers who bought cryptocurrencies with their bank accounts must wait for at least several business days in order to receive their tokens. Slow transaction speed is certainly a huge enemy in the crypto world because the crypto market is highly volatile, so during the waiting time, investors could lose the chance of getting the best price.

However, today we can breathe easier because traders can buy cryptocurrency instantly. This means it'll only take minutes and even seconds to process the crypto buying or selling transaction. The relatively new feature certainly will make cryptocurrency easier to use as a transactional method and could increase the liquidity of the market. One crypto exchange that offers this feature is Bittrex. Let's hear more about it.

Buying and selling crypto instantly in Bittrex

Contents

 

Brief Introduction to Bittrex

Bittrex is a well-known crypto exchange that has been around since 2014. The exchange is headquartered in Seattle, Washington, and was founded by three ex-Amazon cybersecurity engineers: Bill Shihara, Richie Lai, and Rami Kawach. Bittrex initially started off as a crypto-to-crypto trading exchange only, but then expanded to allow users buying crypto with fiat currency as well. Bittrex now operates in 46 US states and several other countries.

Bittrex currently supports a wide range of cryptocurrencies, including all the popular ones like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA). There are over 300 trading pairs in total and you can browse the complete list simply by visiting their official website. Several withdrawal methods are also supported, including wire transfers and debit cards.

Bittrex mainly focuses on providing lightning-speed trade execution and reliable digital wallets. The company also prioritizes security above all aspects by employing the two-factor authentication system, cold storage, IP address whitelist, and disabling account email links. Other notable features include advanced crypto charting, live order books, various order types, and competitive trading fees.

Signing up for Bittrex is very easy. You can create a free account by using your email address and a password. Make sure to use an active email because you'll need to verify your email and secure your account with two-factor authentication for an additional layer of protection. Apart from that, you'll also have to verify your identity. Bittrex follows the Know Your Customer (KYC) standard, which was created to prevent fraudulent activities and help provide transparency for the customers. This step is required for all accounts before users can buy, sell, or make any transaction on the Bittrex platform.

 

The Benefits of Using Bittrex

  • Secure Platform

    Bittrex uses reliable and effective security technology for all of its company activities. All users' funds are kept in cold storage for additional safety. They also enable two-factor authentication for all users and provide a host of additional security measures to create multiple layers of protection.



  • Commitment to Compliance

    In addition to putting security as their priority, Bittrex is also committed to staying in compliance with all current US regulations. The purpose is to help prevent, detect, and remediate illegal behaviors.

  • Speedy Deposits and Withdrawals

    This is another feature that is extremely useful for crypto traders. With its efficient and automated monitoring platform, Bittrex is able to offer the fastest transaction service to users. The services include updates on balance, trade, and wallet information. This means Bittrex has one of the best crypto payments of all time.

  • Customized Trading Engine

    Bittrex uses its own customized engine that was designed to be scalable in order to ensure the orders are executed in real-time. Through its extensive APIs, the company also supports third-party trading platforms and algorithmic trading.

  • An Innovative Company

    One of Bittrex's goals is to drive blockchain innovation by supporting new and established blockchains. In Bittrex, users can choose a growing ion of blockchain technologies and digital tokens.

 

Buying and Selling Crypto on Bittrex

In Bittrex, you can buy or sell cryptocurrencies either through the exchange's official website or application. Here's what you need to do.

 

Instant Buy on Web

  1. Log in to your Bittrex account and click "Instant Buy & Sell" on the top right of the menu bar.
  2. Choose which currency you would like to buy.
  3. Enter the amount of currency that you would like to purchase in USD.
  4. Choose your payment method.
  5. Confirm your order.

 

Instant Buy on Bittrex Mobile App

  1. Log in to your Bittrex account and press "Instant" on the bottom menu bar.
  2. Choose which currency you would like to buy.
  3. Enter the amount of currency that you would like to purchase in USD.
  4. Pick a payment method.
  5. Confirm your order.

 

Instant Sell on Web

  1. Log in to your Bittrex account and click "Instant Buy & Sell" on the top right of the menu bar.
  2. Click "Sell Now", then choose the cryptocurrency that you own and wish to sell.
  3. Type in the amount that you want to sell. Keep in mind that there's going to be a notification for the minimum volume.
  4. Click "next" to see the details of your sell order.
  5. Click "sell" to complete the order.

 

Instant Sell on Mobile App

  1. Log in to your Bittrex account and click "Instant" on the bottom menu bar.
  2. Choose the "sell" button on top of the screen.
  3. Type in the volume of currency that you would like to sell.
  4. Click "next" to see the details of your order.
  5. Press the "sell" button to complete the sell order.

 

End Thoughts

In summary, Bittrex is a decent option for active crypto traders to invest their money in. It is particularly suitable for traders who make frequent transactions and use advanced order types. The instant transaction speed can certainly help them make their trading activities more effective as they could immediately take action when there's a good trading opportunity in the market. On top of that, the company offers many awesome features in general such as multiple layers of security, user-friendly platforms, low trading fees, advanced charting, and so on.

Still, Bittrex is currently unregulated. The company applied for an operating license with the New York Department of Financial Services (NYDFS), but unfortunately, it was denied for not meeting some requirements like capital, compliance, and due diligence for adding cryptocurrency to its platform. Whatever your choice is, always do thorough research and weigh the benefits and risks before making any decision for your investment.