Bittrex Expands USD Exchange for Additional Coins

by 99Crypto

The Bittrex cryptocurrency is among the popular exchanges and wallet services that many people use for purchasing a variety of digital currencies. The exchange made an announcement not long ago to offer certain cryptocurrencies as tradable with US dollars. Now they are expanding those offerings by allowing customers to trade dollars for Ethereum Classic (ETC) and Ripple (XRP). The announcement was made on Bittrex on Wednesday (August 8). The exchange said they will begin to allow for USD trading with Ethereum Classic and Ripple starting later this month. Customers already have the ability to make USD trades for Bitcoin (BTC), Ethereum (ETH), TrueUSD (TUSD), and Tether (USDT). The exchange also said there are plans to add more tokes for USD trading in the future. Bittrex's plan to add more cryptocurrencies for USD trading is done by a "phased approach" to ensure there is quality in process and systems ahead of the general trading. The exchange said that they are "expanding fiat markets to the top digital currencies" in order to "help limit the dominance and influence" of one particular token over various blockchain projects. Ripple (XRP) is currently the third-largest cryptocurrency in terms of overall market cap ranking behind only Bitcoin and Ethereum. The Ethereum Classic (ETC) cryptocurrency is much newer but is considered in the top 12 as of this report. XRP was trading for $0.339050 while ETC was at $15.33 as of this report. Bittrex currently ranks as the 23rd largest exchange in the world with overall volume topping $72 million. The exchange has been in existence since 2014 when former Amazon security team members including Bill Shihara founded the venture. The company announced their USD trading for customers earlier this year. The exchange saw a few hiccups back in late 2017 at the height of the cryptocurrency market's "bull run." In October 2017, the company disabled many thousand accounts to perform compliance reviews but never informed the customers ahead of doing so. Two months later, the exchange stopped allowing new users to register saying they could not keep up with the demand. Bittrex eventually reopened for new customers but started requiring more steps in order to register. The addition of the new USD trading pairs at Bittrex is expected to begin on Monday, August 20th.