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Cardano [ADA] and Zcash [ZEC] to be launched with USD on Bittrex

Priyamvada Singh



Cardano [ADA] and Zcash [ZEC] to be launched with USD on Bittrex
Source: Pixabay

On 29th August, Bittrex, one of the leading cryptocurrency trading platforms based out of Seattle announced its support for new trading pairs on its exchange. Cardano [ADA] and Zcash [ZEC] will be available for trading with USD on the platform from 5th September. The tweet carrying the announcement read:

“We’re rolling out more USD pairs. On Sep 5 we’re launching US dollar (USD) markets for Cardano (ADA) and Zcash (ZEC). Eligible #Bittrex accounts created before August are already enabled for USD trading.”

Bittrex launched the market for USD only a month ago with Bitcoin [BTC] and a few other cryptocurrencies. This was believed to be a progress in fulfilling the goal of cryptocurrency and blockchain adoption. For USD market, the customers are provided with two options facilitating USD trading only or the withdrawal, deposit and trading of USD.

However, the customers are required to fulfill the eligibility criteria and should be part of Washington State, Montana or New York to participate in the USD markets. There are certain criteria for the international customers as well.

Among many significant developments, the most recent one has been the announcement of Bittrex partnering with Rialto Trading. The was done to expand the Alternative Trading System [ATS] of Rialto by adding digital securities into the system.

Earlier this month, the cryptocurrency exchange also launched USD markets for big cryptocurrencies, namely, XRP and Ethereum Classic [ETC].

On the social media platform Twitter, a considerable amount of agitation has been witnessed regarding the issue of the limited number of approved states for trading Bittrex. A customer sought confirmation on the eligibility of individuals from New York state for trading on the platform. Here, Bittrex replied to the comment and wrote:

“Thanks for reaching out. Both personal and corporate customers in New York are eligible for USD trading, deposits and withdrawals.”

Denver Johhny, a cryptocurrency trader and enthusiast also put forth his query via comments. He commented:

“So, I’ve had an account since November 2017. Am I able to transfer USD from my bank account to my Bittrex account and buy XRP, ADA, and ZEC?”

Bittrex replied to the query and clarified, stating:

“Thanks for reaching out. If you are in an eligible region and approved for USD, you would be able to after September 5.”

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.