In an interview with the CEO, Bittrex indicated that they would be adding USD support in the near future.
Personally, that is a welcome development from a long time Bittrex user!
It has been quite a pain any time I want to get dollars in or out of crypto and all the different exchanges I have to sign up for and transfer funds/coins in and out of.
Also, it's been a headache any time I've tried to explain the process to any of my friends or family members that have been interested in investing in cryptocurrencies.
So much so, that many of them end up giving up when they learn about the process it is going to take just to buy their favorite cryptocurrency.
Some details about the announcement.
The full release can be found here:
https://btcmanager.com/major-bitcoin-exchange-bittrex-indicates-will-open-usd-deposits/
Some of the more significnat quotes from the CEO in the release are as follows...
In response to whether the company was going to open up new account registrations again:
"Yes, there is going to be a time, I actually think it’s not that far away, when we are going to open up for global signups again, we will end up doing additional requirements, minimum deposit sizes, and things like that to trade, ensuring signs up that are coming in, are people who understand what they are doing… demand has been pretty incredible.”
In response to whether or not more partnerships like the one seen with Upbit were on the horizon:
“We’re going to see more deals like that in the coming year. And we will be doing USD trading; this won’t be open to everybody, available for the majority of our customers as well as foreign partners that build on top of us.”
That was the big one... "we will be doing USD trading"
Not sure about you, but that sure sounds like they are looking at a USD wallet.
Then there was also this when asked about whether or not there should be concern about Tether:
“Tough question, we treat it as another altcoin. The market agrees Tether is backed by something, as it is trading as a dollar substitute. But I always tell people to do their own research and be cautious in crypto.”
Again, the full release can be accessed here:
https://btcmanager.com/major-bitcoin-exchange-bittrex-indicates-will-open-usd-deposits/
Great stuff from the CEO of Bittrex.
I don't know about you, but between this news and the Robinhood news, it sounds like Coinbase is going to have tons of competition on their hands in the very near future.
Increased competition means better prices for us users.
Bring on the competition!
Stay informed my friends.
Follow me: @jrcornel
Good! Now everyone can load off their fiat into crypto in yet another way before fiat crashes and dies. It will probably help BTC rise too.
Not having Bittrex dependent whole on Tether is a huge step in the right direction. Having liquid Steem/USD and SBD/USD trading pairs on Bittrex would be a huge benefit to Steemit!
Yes it would, though I am not sure it will go that far. If it did... moon time for steem.
You almost have that on the BitsharesDEX. Take a peek. BitUSD is a price stable asset 1;1 with USD. Sbd and Steem tradable. Also Fiat ramps coming soon...
We should also hope to see stable assets like BitUSD, bitEURO and bitGBP added which are baced by BTS in a 2:1 ratio meaning a great safe haven in times of crash. Also bitGOLD and BitSILVER. Meanwhile Bitrex still has BTS on hold and Poloniex is claim issues yet again as BTS rises. Many claim they are threatened by the bitshares decentralised exchange.
I hope too
I use Bittrex... but to get money into crypto I deposit usd into my CEX.io account and then buy ETH or XRP and transfer that to Bittrex or any other exchange I want to buy coins from.
Agreed I am on Poloniex and Robinhood right now but Bittrex seems to be the unattainable golden egg for me at this point. But I really like that they are getting ready to accept newbies. And love the idea of them doing a USD wallet. That would really be useful. Now if they can get a credit card company back on board we would have a very user friendly exchange. I really want to thank you for this article
Thank you for the kind words. My thoughts as well :)
A lot of exchanges need to clean up their act. Many are working on it and adding new back end servers and new staff which bodes well for any future bull run.
Having more US-based fiat exchanges is always great
I am so surprised there isn’t more competition already. But I imagine 2018 will be the year where we go from 2 onramps (Coinbase and gemini) to 50. Already square robinhood, uphold has an iPhone ap. — it’s much easier than it was. How long before PayPal, and amazon add it. Next will be tech that doesn’t deal with money( clearly the hard part)
Big news and much faster uptake of cryptos if bittrex allows straight fiat on ramps
That would be great, people would have no mpre reasons to use usdt!
The next logical step for any major exchange to take. Just think of all of the money they'll make on fees...
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I'm still waiting for the day I can finally register at Bittrex.
It was about time to see more good news for cryptos! Yeah, the process of getting money in but especially out of cryptos is still complex for an average person. And that's bad for cryptos and mass adoption! But one step at a time...
Agreed. There has been a number of positive developments this week but they have gotten overshadowed by tons of negative news related to price action.
This will be the true path to getting the other exchanges doing the same, then it's true arbitrage by the big trading houses.
now bitcoin dump day by day. so i thik they decide to start that.
I would prefer if they would put their energy in finally allowing new users before adding new features...
This would be great!
yes. i think same as you
Thanks for this cryptocurrency news update providing... i appreciate this post.....resteemit done
I wonder if that’s their way of saying Americans need not apply.
Major leap into the masses!
yes it is the only way to open the crypto market for mass adoption
I'm never putting my money anywhere near tether...
same thing happened to me, my father actual joined coinbase but never bought anything... i think it's mostly to throw at my face when the BTC andETH price drops, still, every time i start telling my friends how to get on steemit and than convert their earning to cash they quit halfway...
Great news, I have long waited for some competition to CoinBase because between the fees and time it takes for transactions, things were out of hand. CoinBase just released news of SegWit adoption coming soon, but they may be too late. I'm just glad to get some competition at the crypto/FIAT portal. Now I just hope Bittrex reopens registration for individuals. It has been closed since October, but they recently reopened registration for corporate investors and select invitees (of which I am neither, must have lost my invite code somewhere...). I hope this is a sign that once they allow the big money to register, the rest of us will be able to get our 2 cents in. Thanks for posting this great update!
I am excited for Robinhood to start allowing users to buy in and out of over a dozen coins with USD. I know it will only benefit a narrow market of people, but it could be a big game changer in terms of how to get your money in and out of cryptocurrencies.
I am as well, and I agree. :)
wow...!!! what a nice post @jrcornel . i like your Bittrex possibly adding dollar on/off ramps? post. thanks for share it
That's a great news!
They better add USD now
Depending on how they are planing to implement it! Let's just hope they won't start the next misfortune like Bitfinex did with tether.
Well this would be actual fiat support, like Coinbase, nothing like tether.
Ah ok! This changes everything of course! Guess will switch to bittrex if they implement it like that! 👍
This can be very good but very bad depending on how they decide to adopt it to the exchange. This could drop like bitfinex or it could make it get closer to becoming the #1 exchange.
Curious, why do you think this could be bad?
That's a great news my frends
interesting, am actually happy for you on the positive effort you are making, i can see that the future is very clear.
very good information @jrcornel, this is very useful for me, it turns out Bittrex does have many functions. Thanks for sharing
Unfortunately they also have malfunctions. I used to use them until they kept having wallet issues and my coins kept getting tied up. Maybe they will fix it before someone cleans them out, who knows. Either way I use a trezor and DEX's and only gamble on Cryptopia with my trading stuff.
Nice in job
please upvote me
Wonderful post
once usd added market will bommmm.....
is Bittrex better than binance?
They are both good. Binance is one of the most popular exchanges right now, before that Bittrex was.
Doest Bittrex give any benifit like discount on comming like binance or kucoin?
no
Thanks for @jrcornel this post I really like and I appreciate this post.
Great to see this dollar on off on bitrex might b helping us
Good development!!!
Awesome
Bittrex indicated that they would be adding USD support in the near future.
Bittrex has shut down new user registrations since several weeks now which is crazy, so no reason to get too excited at the moment 😆
Hello,
Do you guys review products or promote other author's posts? for a fee of course.
I would welcome more exchanges being open to the USD. I love crypto currency, but anything that makes it just a tiny bit easier to move money around would be really nice.
Binance...
Excited to hear, thanks for sharing! Still waiting for that day when we can register on Bittrex though haha
For me adding new coin is much more important than adding USD support, a lot of people have already accepted bitcoin/etheruem as mode of invest in exchanges.
I agree this is definitely a welcome addition to improve the user experience!!
This is really a good article.
I will always pay attention to you and support you.
I hope you can pay attention to me and support me.
thank you
Oh yes, this would be good! Coinbase is such a pain...