Bittrex: how does it work concretely?

The bittrex trading and trading site is suitable for anyone wanting to expand their e-money portfolio. Because it has several variants, you will find even the least popular. If you want to know how the platform works, we will be based on the example of Bitcoin, to better explain the mode of transfer of electronic money on the site, from another platform.

How to transfer Bitcoin to your Bittrex account from another platform?

Here we will explain how to perform a bittrex trading, transferring bitcoins into your e-wallet. However, it is important to mention that this operation is only possible for crypto-currencies available on the Bittrex platform. To begin, you will first need to create your account on the site. Therefore, this part assumes that you have 1 at your disposal, and that it is provided in bitcoins on another platform of your choice.

Thereafter, you will need to connect to Bittrex, then go into your wallet, by clicking in particular on the Wallet menu. Then you will need to click on the "+" icon to the left of the bitcoin. This maneuver allows you to note the address of your electronic wallet. You will need to enter this address in the window that will appear on your screen, under Bittrex.

After this transaction, the amount transferred should appear in the "pending" column of your wallet. This simply means that the transfer is not instantaneous. However, you do not have to worry because the site is reliable.

The transfer is now done, you can use your bitcoins to invest in the altcoins available on Bittrex. However, be careful to indicate the address that will be provided by the platform, without making mistakes. In addition, it is not possible for you to transfer a currency other than the one that corresponds to the address you created. For example, you will not be able to make an ETH deposit on your BTC wallet.

How to place a buy order on Bittrex?

The use of the bittrex trading robot to make a purchase order is rather simple. Simply go to the interface and choose the Bitcoins Markets menu. First, you must type the name of the currency you want to invest on (NTX, ADX, BBC, etc.) and click on it to check all the related information.

Depending on the chosen altcoin, the page on which you will be redirected will give you several indications more or less complex for a person who just learns to master the platform:

• History of ongoing operations

• The order book (a chapter will be dedicated for this purpose)

• General information on the transactions of the last 24h: volume of currencies exchanged, price mini / max

• The evolution curve of the currency

• 2 inserts relating to buy and sell orders

By focusing on the evolution curve, you certainly think about investing in a specific currency, since you see that there is a good chance that its value will increase in the days or months to come! We will not dwell on the passage of purchase orders. Therefore, it is important to provide all the information on the relevant page:

• Units: This is the number of units of the currency you want to buy (37.3 for example)

• Bid: Here is the purchase price you want, in BTC

• Limit: You issue a purchase threshold that you do not want to exceed. This one is directly incorporated into the order book. As a result, once a person sells his currency at that price, he will be executed.

• Good 'til canceled: Here your purchase order remains active until it is fully executed or canceled. If you do not yet master the cancellation procedure, then you can use the 'Immediate or Cancel' option. 

Total: This is the sum of Units x Bid (in BTC).

·        After this whole process has been followed, all you have to do is make or place your purchase order with the Bittrex cryptocurrency trading robot. For this, you will have to click on the blue menu at the bottom of the page. If you do not find it, it is the one with the mention + Buy, followed by the name of the altcoin. Even if this operation seems complicated at the beginning, as soon as you have done it 2 or 3 times, you will get used to it and it will only take a few seconds to successfully complete your order.