Bittrex

Bittrex
Type Digital currency exchange
Location Seattle, Washington, United States[1]
Founded 2013 (2013)[2]
Key people Bill Shihara (CEO), Richie Lai, Rami Kawach, and Ryan Hentz[1]
Currency

Cryptocurrencies: BTC, ETH, and 190+ other cryptocurrencies[3]

Fiat currencies: USD
Website bittrex.com

Bittrex is a US-based cryptocurrency exchange headquartered in Seattle, Washington.[1] The company was founded in 2013 by Bill Shihara and two business partners, all of whom previously worked as security professionals at Microsoft.[4] The exchange is the thirteenth largest cryptocurrency exchange by daily trading volume,[5] is renowned for the vast number of cryptocurrencies it has listed, and has a good reputation for its security.[2] Bittrex is not a regulated exchange under US securities laws.[6]

In December 2017, along with Binance and Bitfinex, Bittrex temporarily stopped new user registrations due to high demand.[7] All 3 exchanges have since then reopened for registrations.

On March 6, 2018, Bittrex listed TrueUSD, a stablecoin claimed to be backed by USD.[8] Bittrex was the first exchange to list TrueUSD and is currently the only US based exchange to list it.[9] Since its listing on Bittrex, TrueUSD has twice spiked to a price of 1.30+ USD despite its supposed price peg.[10][11]

On March 20, 2018, Bittrex announced their decision to de-list 82 cryptocurrencies which were found to be in violation of their listing requirements.[12]

On April 10, 2018 the company open registrations for new users. Commenting on the matter, Bittrex CEO Bill Shihara said: "After diligently working to improve our infrastructure and upgrade our website, we're pleased to announce registration for new users resumed today."[13] Bittrex were forced to temporarily stop new user registrations after just a couple of hours due to the high demand.[14]

On May 25, 2018, Bittrex added support for NAGA (NGC). Immediately after listing, Bittrex took over more than 30 percent of total NGC trading volume.[15]

Corporate customers based in the U.S. states of Washington, California, New York and Montana may trade using U.S. dollars held in Signature Bank of New York.[16]

References

  1. 1 2 3 "About Us". Bittrex. Retrieved 28 February 2018.
  2. 1 2 "Bittrex Exchange - Reviews & Markets". CoinCodex. Retrieved 28 February 2018.
  3. ↑ "Bittrex, The Next Generation Digital Currency Exchange". Bittrex. Retrieved 28 February 2018.
  4. ↑ Molly Jane Zuckerman. "Major Cryptocurrency Exchange Bittrex To Add USD Trading, Reopen New User Sign-ups". Cointelegraph. Retrieved 28 February 2018.
  5. ↑ "24 Hour Volume Rankings (Exchange) | CoinMarketCap". coinmarketcap.com. Retrieved 2018-05-23.
  6. ↑ "Bittrex Responds to SEC Announcement Regarding Crypto Exchanges". CryptoSlate. 2018-03-07. Retrieved 2018-06-14.
  7. ↑ Joshua Althauser. "Binance, Bitfinex, Bittrex Temporarily Say No to New Users". Cointelegraph. Retrieved 28 February 2018.
  8. ↑ "TrueUSD, the World's First Legally Backed Stablecoin, is Now Trading on Bittrex". TrustToken. 2018-03-06. Retrieved 2018-05-30.
  9. ↑ "TrueUSD (TUSD) price, charts, market cap, and other metrics | CoinMarketCap". coinmarketcap.com. Retrieved 2018-05-30.
  10. ↑ "Why Did the Stablecoin TrueUSD Spike After Binance Listing? | Coincodex". 2018-05-17. Retrieved 2018-05-30.
  11. ↑ "Binance Postpones TrueUSD Listing After Stable Coin Spikes | NewsBTC". NewsBTC. 2018-05-17. Retrieved 2018-05-30.
  12. ↑ "Bittrex to Delist Over 80 Altcoins at the End of March". Bitcoin News. 2018-03-20. Retrieved 2018-05-23.
  13. ↑ "Crypto Exchange Bittrex Is Taking New Customers Again - CoinDesk". CoinDesk. 2018-04-10. Retrieved 2018-05-23.
  14. ↑ @bittrexexchange (April 10, 2018). "Sorry for the inconvenience. Due to an overwhelming response from new users, registration is temporarily paused. We're working to make the necessary tweaks and reopen signups again shortly." (Tweet) – via Twitter.
  15. ↑ Bitcoinist. "NAGA Coin (NGC) Now Listed on Bittrex - Bitcoinist.com". bitcoinist.com. Retrieved 2018-05-29.
  16. ↑ Katz, Lily (May 31, 2018). "Bittrex Gets Bank Agreement to Help You Buy Bitcoin With Dollars". Bloomberg. Archived from the original on May 31, 2018. Retrieved July 30, 2018.


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