Are you a beginner investor looking to expand your crypto portfolio? Then carry on to read the post.
In this, I’m going to show you how to use Bittrex to buy your first altcoin. If you are a new cryptocurrency investor you probably started investing through large exchanges like Coinbase or any other local currency exchange which allows you to purchase crypto with your Fiat either would be US dollars euros or any other currencies.
However, they’re only going to have a limited number of altcoins alternative coins that you can trade. For example in Coinbase you can see they only have Bitcoin, Bitcoin cash Ethereum and Litecoin, these are the large-cap coins. So even though it’s a good place to start you may have better opportunities on investing in old coins where the percentage gains may be a lot larger however there’s more risk.
Bittrex exchange is a US-based cryptocurrency exchange headquartered in Seattle founded in the year 2013. They are one of the largest Cryptocurrency exchanges in the world. So it’s a good place to start, they charge 0.25% fees on all trades so this is both buy and sell however for your withdraws there will beat transaction fee which is standard for all exchanges. When you sign up to make sure to type in www.bittrex.com each time yourself and don’t use sites like Google to search metrics as there may be phishing sites who will try and get your password and your ID.
So another thing to do is you could bookmarklet so next time you can type in the short link and it will come up for you so to sign up now you go, click on get started. When you fill out the application form and submitted they will get back to you with a new account and once you are provided with an account by Bittrex you can come in and see the verification levels. So there’s a basic account verification level that allows you to withdraw up to 0.4 BTC per day or you can go through the enhanced accounts verification level which allows you a hundred Bitcoin withdrawal per day. A verification document the only Passport is valid.
The first signup page shows your email, password, and confirm password fields, as well as the terms and conditions. Now when choosing a password, you want to choose a strong password about 12 characters that you’ve never used anywhere else. You shouldn’t share an account password to anyone. Bittrex will never ask you for your password outside of the login and reset pages.
After signing up you’ll see verification security that says to look for an email with an activation link. Use two-factor authentication on all your accounts particularly your email and financial accounts. When you operate to your email you’ll see that the sender is [email protected] and the topic line Bittrex account verification. You should check the URL in the e-mail links to https://bittrex.com and not another fraudulent site. You can click the link to go to bittrex.com and log in with your email and password.
After logging in, you’ll receive an email notification from [email protected] titled Bittrex login notification. This tells you the login time and time-zone, the IP location, and the user agent string which tells you what kind of device or browser was used to log in. In that email, there’s a link to disable your account if you did not login, or if the login looks suspicious. Note that the time is given in UTC and will need to be converted to your local time zone.
To avoid scam sites, you should always check the full URL link you use. Do not search for Bittrex in the chrome browser address bar or in any search engine to avoid being cheated into clicking on a fraudulent site. Always type the full bittrex.com into the browser address bar. You also need to protect your device from malware by antivirus.
Install ad blockers on your browsers. Use strong passwords for every account. Do not use the remember password and password manager in browsers or on your mobile device. You should never login to your account from a public computer or any shared device. You should never use public WIFI when accessing your Bittrex account. If funds are withdrawn from your account, even if done in error or maliciously you cannot recover them. No one will explain to you to keep secure You only responsible for keeping your Bittrex account secure.
When you log in to your Bittrex account, you can see a list of their coins in terms of bitcoin pairing and USDT pairings. After scrolling, you can search it by market currency volume percent change, etc. So if you wanted to see a coin that is the most volume right now just click on the volume and you can see the most traded cryptocurrencies.
If you wanted to see a coin that has lost the most value you can see and see the percentage change for the most. You can see the volume, the bid, the asking price, the 24-hour high, and the 24-hour low, the chart is also very useful as you can use tools like the Fibonacci or draw some lines the time can also be changed to one-hour candles or you know one week candle whatever you want now you can also see there order books.