Bittrex, one of the most significant cryptocurrency exchanges in the game, just announced that they’re opening two new US Dollar Markets. This announcement follows other recent cryptocurrency additions to the Bittrex exchange and interest in this exchange platform’s and those currencies’ market caps are already increasing. Converting USD to cryptocurrency just became easier.
Bittrex Opens Two New USD Markets
With steep competition from other cryptocurrency exchanges, Bittrex has spent 2018 refining their markets and expanding their customer base. This all started in March when Bittrex de-listed over 80 cryptocurrencies.
Then in May, Bittrex announced that corporate customers could use fiat, meaning they could convert USD to cryptocurrency. Specifically, customers could trade to Tether, TrueUSD, and Bitcoin. Bittrex promised that they would add other cryptocurrency markets and customers soon—but they’d roll everything out slowly to ensure safety.
In June, Bittrex opened its platform to retail customers. Essentially, this meant that they finally started accepting new customers, which they had stopped doing in late 2017. As of today, people living in New York, California, Washington State, Montana and some international locations can convert USD to cryptocurrency. Not everyone everywhere can buy on Bittrex, though they have plans to expand access even further.
After growing their customer base, Bittrex added Ethereum (ETH), Ethereum Classic (ETC) and Ripple (XRP).
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. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/pzCry5OdTr
— Bittrex (@BittrexExchange) August 29, 2018
Now, Bittrex is opening two new US Dollar markets for Cardano (ADA) and Zcash (ZEC), as announced on Twitter. You’ll be able to convert fiat to these two new cryptocurrencies starting September 5th. This is massive news for Cardano and Zcash, which will soon experience a boost in accessibility, which will correspond to more investment than ever. Since the announcement, trading of both cryptocurrencies is up.
Bittrex Expands USD Markets In 2018
As Bittrex opens new USD markets, it points to a more significant trend: More and more people want to invest and trade cryptocurrencies. And the public’s interest goes way beyond Bitcoin and Ethereum. In 2018, the ICO market doubled as people diversified their crypto portfolios beyond coins with billion dollar market caps. Despite SEC regulations, everyone seems to be deepening their stake in cryptocurrency.
Correspondingly, you’ll soon have access to two new USD markets on Bittrex. On September 5th, you’ll be able to exchange USD for Bitcoin, Ethereum, Ripple, Ethereum Classic, Tether, TrueUSD, Cardano, and Zcash. This number will continue to go up, though Bittrex is stressing that they’re proceeding with caution. Following crypto scandals like the McAfee accountant accused of stealing $50-100 million, it’s best to expand USD markets slowly.