To buy crypto on Bittrex, set up an account, deposit funds, and place a buy order in the desired market, monitoring it until filled.

Apr 16, 2025 at 07:35 pm

In the fast-paced world of cryptocurrency, platforms like Bittrex have become essential for those looking to dive into the market. This article is designed to guide beginners through the process of buying and selling cryptocurrencies on Bittrex, ensuring they are well-equipped to navigate the platform with confidence.

Getting Started with Bittrex

Before you can start trading on Bittrex, you need to set up an account. Visit the Bittrex website and click on the "Sign Up" button. You will be prompted to enter your email address and create a strong password. After submitting your details, you will receive a verification email. Click on the link in the email to activate your account.

Once your account is active, you will need to complete the verification process. Navigate to the 'Account' section and select 'Verification'. You will be asked to provide personal information such as your full name, date of birth, and address. You may also need to upload a government-issued ID and a selfie to complete the verification. This process can take a few days, so be patient.

Depositing Funds into Your Bittrex Account

After your account is verified, you can deposit funds to start trading. Go to the 'Wallets' section on the Bittrex platform. Here, you will see a list of all the cryptocurrencies supported by Bittrex. Select the cryptocurrency you want to deposit and click on the 'Deposit' button.

A unique deposit address will be generated for you. Copy this address and use it to send the cryptocurrency from your external wallet to your Bittrex wallet. Ensure you double-check the address before sending any funds, as transactions are irreversible. Once the transaction is confirmed on the blockchain, the funds will appear in your Bittrex account.

Buying Cryptocurrency on Bittrex

Now that you have funds in your Bittrex account, you can start buying cryptocurrencies. Navigate to the 'Markets' section and select the market you want to trade in. For example, if you want to buy Bitcoin with USDT, select the BTC-USDT market.

Once in the market, you will see the order book, which displays the current buy and sell orders. To place a buy order, enter the amount of cryptocurrency you want to purchase and the price you are willing to pay. You can choose between a 'Limit' order, where you set a specific price, or a 'Market' order, where you buy at the current market price.

After entering your order details, click on the 'Buy' button. Your order will be added to the order book and will be executed when the market reaches your specified price. Monitor your order status in the 'Open Orders' section until it is filled.

Selling Cryptocurrency on Bittrex

Selling cryptocurrency on Bittrex follows a similar process to buying. Go to the 'Markets' section and select the market you want to trade in. For example, if you want to sell Bitcoin for USDT, select the BTC-USDT market.

In the market, enter the amount of cryptocurrency you want to sell and the price you are willing to accept. You can choose between a 'Limit' order, where you set a specific price, or a 'Market' order, where you sell at the current market price.

After entering your order details, click on the 'Sell' button. Your order will be added to the order book and will be executed when the market reaches your specified price. Monitor your order status in the 'Open Orders' section until it is filled.

Withdrawing Funds from Bittrex

Once you have completed your trades and want to move your funds out of Bittrex, you can withdraw them to an external wallet. Go to the 'Wallets' section and select the cryptocurrency you want to withdraw. Click on the 'Withdraw' button.

Enter the amount you want to withdraw and the address of the external wallet where you want the funds to be sent. Double-check the withdrawal address to ensure it is correct, as transactions are irreversible. After confirming the details, click on the 'Withdraw' button.

You may be asked to enter a two-factor authentication code to complete the withdrawal. Once the withdrawal is processed, it will be sent to the blockchain and will take some time to be confirmed. Monitor the status of your withdrawal in the 'Withdrawals' section until it is complete.

Frequently Asked Questions

Q: How long does it take to verify an account on Bittrex?

A: The verification process on Bittrex can take anywhere from a few hours to a few days, depending on the volume of applications and the accuracy of the information provided.

Q: Can I use a credit card to deposit funds into my Bittrex account?

A: Bittrex does not directly support credit card deposits. You will need to purchase cryptocurrency from another platform that accepts credit cards and then transfer it to your Bittrex account.

Q: What fees does Bittrex charge for trading?

A: Bittrex charges a fee of 0.35% for both buying and selling orders. The fee is included in the price of the order and is not charged separately.

Q: Is there a minimum amount required for withdrawals on Bittrex?

A: Yes, Bittrex has minimum withdrawal amounts for each cryptocurrency. These amounts can be found in the 'Wallets' section under the 'Withdraw' tab for each specific cryptocurrency.