US cryptocurrency exchange Bittrex trading platform now offers Ripple and Ethereum Classic. Bittrex is to open two new US Dollar (USD) markets which include Ethereum Classic (ETC) and Ripple (XRP).
— Bittrex (@BittrexExchange) August 8, 2018
Bittrex Adds Fiat Support For Ethereum Classic (ETC) And Ripple (XRP)
Bittrex will be adding Ethereum Classic and Ripple support by August 20th, with these two additions joining the company’s exclusive lineup of four other fiat-supported cryptos, which are BTC, ETH, USDT, and TUSD.
This was announced as Bittrex has begun offering fiat support, which many community members saw as a long time coming for such an influential exchange. Bittrex “phased approach” to fiat support received praise by the community. The reason is that they are slowly adding trading pairs rather than all at once, thus reducing the stress on Bittrex systems and employees.
On that note, Bittrex’s communications team wrote:
“While we dream big, we also plan wisely. That’s why we will continue to use a phased approach for USD trading. We are taking our time and ramping up these markets, processes, and systems through a measured approach before we open it up to all qualified customers. But, the good news is that you didn’t have to wait a long time for more opportunities. As of August 20, participants will have access to USD markets for BTC, ETH, USDT, TUSD, ETC and XRP”
As of right now, not all users will be able to buy these cryptos with fiat. The exchange states that only current Bittrex corporate and personal account customers, who reside in eligible states and qualified international regions, are able to apply for USD trading. However, the announcement reads that new approved locations will be added over time. Bittrex currently has a daily volume figure of approximately $80 million
Ethereum Classic future seems bright
While Ethereum Classic posted a 13% loss a few days ago, many investors see the aforementioned news as long-term signals to invest. Implementation of this asset, not just on Bittrex, but also on Coinbase and Robinhood has actually boosted its value. Ethereum Classic has been up 15% since yesterday. These kinds of “bullish” signals will only boost adoption and real-world use of this asset in the near future.