Bittrex, a leading cryptocurrency exchange platform based in Seattle opened US Dollar trading on their platform. The exchange platform has also sent across a mail to all the eligible customers and corporate accounts. Bittrex users can either choose ‘USD trading only’ or ‘USD trading, deposits and withdrawals’ from the platform to enable their account.
The customers have to fill out a form first and then get an approval from the exchange platform. Once the user is deemed eligible, their account will be enabled for trading.
According to the support blog, users who reside in the United States in California, Washington State, New York State or Montana and qualified international customers are eligible to participate in the trading. People who do not reside in the above-mentioned states can participate in the platform’s Tether [USDT] market. The platform is working towards adding more states for the U.S. market.
Customers opting for ‘USD trading only’ service can trade with the BTC/ETH/USDT or any other cryptocurrency pais available on the exchange platform. If the user wants to switch the account to USD deposit and withdrawal account, they can do so by submitting a fiat [USD] trading request form again along with the bank details. The users can have multiple bank accounts for this service.
Lordguesnbury, a Redditor says:
“I’m glad to hear this. I’ve had good experiences with Bittrex in the past (minus not being able to trade in USD) so I hope it will be a boost to the crypto industry, and make access easier. When access is easier, adoption is more likely so hoping this will be a positive thing for all.”
Flying_mangoose69, another Redditor says:
“The market cycle cares not about such things unfortunately.”
Joseph Todaro, a Twitterati says:
“With Coinbase adding more assets. Circle expanding OTC assets. Bittrex opening USD trading. Robinhood jumping into the game. The on roads for retail to get from USD to other cryptoassets are growing rapidly. They are all getting ready for the next bull run.”
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