Bittrex has moved into its next phase and now inviting retail customers for its US Dollar (fiat) trading option after reaching out to corporate customers in the first phase. The crypto exchange will soon make this option available to all of its customers and will even introduce exclusive USD options.
After announcing the US Dollar (fiat) trading on Bittrex, the cryptocurrency exchange has moved onto the next phase. After allowing a selective few customers initially, now they are inviting a small group of retail investors to participate in the USD markets. The cautious approach taken by the exchange is to ensure that their “processes and systems are operating optimally” before the operation is opened to all of the customers. In the official announcement, Bittrex mentions that these phases will continue until all the qualified customers are included. In the beginning, corporate customers were first included and now they are beginning to “methodically add batches of retail customers”.
The exchange is inviting the participants from New York, California, Montana and Washington State along with “qualified international regions”. More states will be added in the future phases.
Bittrex is surely excited of the ongoing developments as stated by them,
“we’re very excited about launching USD trading and being able to extend these markets to more customers once we can ensure they’ll have a great experience.”
Also, read: After Binance, another Crypto Exchange Planning to Offer Fiat Trading Options
It has been in late May only that the exchange decided to bring out fiat trading options claiming,
“By adding fiat markets to the top digital currencies on our exchange, we’re providing our customers’ unique purchasing and trading options for digital currencies in a secure, robust and reliable environment with high liquidity.”
As for the phased approach, it allows them “to provide quality control and ensure customers experience the highest level of service possible.” Once all the phases have been rolled out, the exchange ensures that “all qualified customers will have a streamlined experience for purchasing digital currencies on Bittrex directly with US dollars.”
Bittrex is among the top 30 cryptocurrency exchanges in the world with a 24-hour trading volume of about $39 million, as per Coinmarketcap. The exchange has about 200 digital tokens listed whose current “USD markets include BTC, USDT, and TUSD”. However, the exchange will be adding new USD pairs soon that according to them “may only be found on our platform”.
Introducing the fiat trading options is gaining a lot of attention nowadays as it offers the ease and enhances liquidity to the investors.
What do you think of the new developments made by Bittrex? Share your thoughts with us!
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