BITTREX CEO ANNOUNCES USD TRADING ON THE POPULAR CRYPTO EXCHANGE

Bill Shihara, CEO of Bittrex, has announced it will add US dollar trading on the popular exchange. However, the offer will not be available for everybody – likely only for institutional investors. As more crypto investors doubt Tether, this is welcome news. USD trading would make the platform less cumbersome by enabling some investors to buy coins directly from the site with fiat currency. Currently, users have to buy crypto from a different exchange with fiat pairings, and then transfer the coins to Bittrex to begin trading on the platform.

Bittrex is popular in the cryptocurrency community for its wide selection of coins and tokens. Investors can find small projects alongside the crypto giants such as Bitcoin, Ethereum, and Litecoin.

It’s hard to take your Ethereum or Bitcoin that you’ve purchased… using US dollars, and then you have to transfer it over to Bittrex. Going from wallet to wallet and managing your crypto is difficult. So, at what point do you think this gets easier?

Shihara said that he admires projects and admits that for now, cryptocurrency is too complex for the average investor.

Right now it’s too hard. Crypto fails for the average person when you’re talking about public/private key pairs. I don’t think that makes any sense [to the average person]. I get super excited when I see consumer-facing solutions. Whether it’s a blockchain project, or it’s a wallet project… where it makes it easier for people to adopt digital currency.

However, the CEO cautioned that “Bittrex will never be retail shop” such as Fidelity. He went on to say that Bittrex is not a place for amateurs. He doesn’t think “that the average person who knows nothing about crypto could or should trade on Bittrex.” Instead, the site focuses on more sophisticated clientele and institutional investors according to Shihara.

For select clients, presumably meaning institutional investors, Bittrex will offer US dollar trading. Though the offer “won’t be available for everybody.”

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