Ranked the 16th largest cryptocurrency exchange in the world by trading volume, Bittrex is rolling out phase two of their US Dollar trading platform - enabling retail and corporate investors to exchange USD for cryptocurrencies.
In an effort to target a mainstream audience of investors, Bittrex has expanded their services to allow for the use of fiat currency to trade cryptocurrencies on their platform.
On May 30, Bittrex released an official announcement stating that "Fiat trading on Bittrex will include Bitcoin, Tether and TrueUSD" - a first step towards increasing mass adoption of cryptocurrency investing.
"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."
In the first phase of launch, fiat trading was only made available to select, approved corporate investors located in four states - California, New York, Montana, and Washington.
Now moving to the second phase, Bittrex is opening fiat trading to retail investors in the aforementioned states in addition to other "Qualified international regions."
"Don't worry, as we roll out future phases, more states will be added. So, please continue to be patient as we roll out these phases overtime."
"With almost 200 digital tokens listed, including some of the most innovative blockchain projects in the world, we have a deep pool of good candidates to consider for USD trading pairs. Our current USD markets include BTC, USDT and TUSD; however, in addition to methodically adding more customers, it probably won't be too much longer before we start adding new USD pairs - pairs that may only be found on our platform."
Bittrex's industry-forward decision to provide fiat trading services indicates a shift in mainstream investor sentiment, as more people are drawn towards the ever-changing global cryptocurrency markets.
The easiest way to stay current with the most important blockchain news and crypto insights.
Bittrex Exchange USD Trading Goes Live
Published on Jun 15, 2018
by Cryptoslate | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.