US- Based Bittrex to Add Two New USD Trading Pairs
Yesterday, 12 September 2018, cryptocurrency exchange Bittrex revealed its intentions to release two new USD trading pairs.
The decision has its beginning on 31 May after Bittrex declared it started to offer USD trading for institutions and plans to “expand these services over time to include all qualified customers.” The basic Bittrex market dedicated to fiat trading would consist of Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD).
At that moment, the U.S.- based trading platform announced it was “implementing a phased roll out to help establish quality control for the new markets and ensure customers have the highest level of service possible.”
Bittrex CEO Bill Shihara claimed:
“As an incubator and leading advocate of blockchain technology, Bittrex is committed to listing tokens that not only have the best business applications, but also are the most innovative blockchain projects in the world.
Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity.”
Later, on 14 June 2018, Bittrex was excited to announce the second phase of its diversification by “starting to invite small groups of retail customers to participate in the USD markets.”
After six days, it has listed Ethereum: USD/ETH. Till the end of August, the company has added as well Ripple (XRP), Ethereum Classic (ETC), with two more trading pairs integrated on 5 September: Cardano (ADA), and Zcash (ZEC).
Yesterday, Bittrex shared with its Twitter followers that is rolling out more USD trading pairs:
We’re rolling out more USD pairs. On Sep 17 we’re launching US dollar (USD) markets for TRON (TRX) and Litecoin (LTC). Eligible #Bittrex accounts created before Sep 4 are already enabled for USD trading. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/21xA8xZ4vm
— Bittrex (@BittrexExchange) September 12, 2018
As reported previously by Bittrex, it will continue listing new cryptos to its USD trading pairs. Currently, there are the following available USD-based pairs: BTC, ETH, USDT, TUSD, XRP, ETC, ADA, ZEC, TRX, and LTC.
Regarding the eligibility of participants for USD trading, here’s what Bittrex stated:
“Current Bittrex corporate and personal account customers, who reside in eligible states and qualified international regions, are able to apply for USD trading at this time. Corporate customers may apply for USD trading by completing this request form, and personal account customers may apply by completing the following form. For current customers living outside the initially approved locations, please note more states will be added over time. With each new phase, we’ll continue to provide you updates and information about how to apply for fiat trading.”
Presently, the options are available in Washington State, California, New York and Montana.
Author: Adriana Midrigan