Confused with bittrex | Bitcointalksearch.org

hahahafr

hero member

Activity: 938

Merit: 501

You can deposit funds with almost all the altcoins that exists (only those who bittrex have listed)
But no, you are not able to deposit funds via wire bank in there, only with altcoins.

Quote from: Drew2128 on December 07, 2017, 01:55:47 PM

1. To buy from bittrex do i have to start with bitcoin/eth before I can buy anything or can I buy straight away with real usd in my bank?

It depends on the altcoin that you are trading, NEO is only exchangeable for bitcoin - usdt- or ethereum.
There are other altcoins that are bigger that allow theirselves to be exchanged for xmr, litecoin, etc.

Quote from: Drew2128 on December 07, 2017, 01:55:47 PM

2. Once I buy say Neo, once it goes up can I trade it at bittrex for another coin besides eth or bitcoin down the line or do i have to trade it for bitcoin/eth?

If you are going to do daytrading, then dont move your funds everyday because you are going to be raped with the fees, if you are going to hold, then buy an offline wallet (A trezor - ledger)

Quote from: Drew2128 on December 07, 2017, 01:55:47 PM

5. Do you put your alt coins in a hiding place offline so a hacker cant steal it? If so whats it called

bmichael05

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Activity: 66

Merit: 10

Quote from: Drew2128 on December 07, 2017, 01:55:47 PM

I am pretty new and have a few questions about bittrex. I am planning to buy some coins on USDT.

1. To buy from bittrex do i have to start with bitcoin/eth before I can buy anything or can I buy straight away with real usd in my bank?

2. Once I buy say Neo, once it goes up can I trade it at bittrex for another coin besides eth or bitcoin down the line or do i have to trade it for bitcoin/eth?

3. When im ready to sell my coin do i have to transfer it somewhere else before I can sell it for real currency?

4. What platform do you transfer your bitcoins/eth from bittrex to, to sell it for USD.

5. Do you put your alt coins in a hiding place offline so a hacker cant steal it? If so whats it called?

I really appreciate it.

1. At first you should buy btc or eth somewhere (localbitcoins for example)
2. You should sell it for btc, eth, or USDT and then buy what you want.
3. You can transfer it ro another exchange or wallet if you want. But you should know that bittrex provide only USDT (Tether token) its not USD. You can fin more about it at the forum.
4. At bittrex i improve quantity of BTC. To trade fo USD i use another exchange. you can you bitfinex or bitstamp for example.
5. For HODL alts it good idea to use wallets. You can find them at official websites, twitters or coin thread on forum. Every coin have it own wallet.

Drew2128

newbie

Activity: 2

Merit: 0

I am pretty new and have a few questions about bittrex. I am planning to buy some coins on USDT.

1. To buy from bittrex do i have to start with bitcoin/eth before I can buy anything or can I buy straight away with real usd in my bank?

2. Once I buy say Neo, once it goes up can I trade it at bittrex for another coin besides eth or bitcoin down the line or do i have to trade it for bitcoin/eth?

3. When im ready to sell my coin do i have to transfer it somewhere else before I can sell it for real currency?

4. What platform do you transfer your bitcoins/eth from bittrex to, to sell it for USD.

5. Do you put your alt coins in a hiding place offline so a hacker cant steal it? If so whats it called?

I really appreciate it.

Topic: Confused with bittrex (Read 205 times)