Register on Bittrex
Activate Two-Factor Authentication (2FA)
Bittrex requires 2FA for its user’s accounts. You’ve just activated 2FA on your Bittrex account. Now you can load it with money.
Deposit Money on Bittrex
You CANNOT deposit fiat currency directly into Bittrex. However, if you have a cryptocurrency wallet, you can send funds directly from it. For those of you who don’t have a cryptocurrency wallet, you will have to purchase cryptocoins elsewhere and transfer them to Bittrex. The easiest way is to head down to some exchange that accepts buying bitcoins with a credit or debit card (like Coinbase). Once you have funds in cryptocoins on your cryptocurrency wallet, you can transfer them to your Bittrex account.
Transfer Cryptocurrencies to Bittrex
Now, just wait until the transaction is made (it can be as short as 20 minutes, but it may also take few days). Once your deposit gets enough blockchain confirmations, the funds will lend on your Bittrex account, and you can start trading with your cryptocoins.
Trading on Bittrex
The selling procedure is pretty much the same. The only difference is that you make these steps in the Sell section of Bittrex.
Activate Stop Loss
Bittrex has a Stop Loss feature (Conditional Orders) that can be triggered only when the price reaches a value that you defined before. You can also use this feature for Taking Profit from selling your cryptocoins when the price is greater than previously defined value. The Stop Loss feature is a critical feature for many traders out there. So make sure you try it out.
Final Words
At first, you may not get the most precise picture of how and when you should trade on Bittrex. However, once you feel the market, you will be able to follow the volume rates. Then you will make purchases when the rates are in minus and sell your cryptocoins when the rates are in plus. With using the stop loss feature, you can even set your account to buy and sell cryptocoins automatically and do not waste your time. Here, I covered the most important things about trading on Bittrex, which (according to me) every Bittrex newcomer should know about. I hope this article was helpful for you. And, if you are interested in trading on other cryptocurrency exchanges make sure to check this article: How to Trade on Binance
How to Fix ‘There was an Error sending your Trade Offer Please Try again later’…How to Trade on BinanceHow to Trade Items in Roblox? Latest Guide 2023!CHIPS Act to Compromise the Growth of Semiconductor Industries, Claims Chinese…
