Bitcoin Forum

Today upon visiting Bittrex, I saw that there are USD trading pairs.

You can trade these into USD: Bitcoin, Tether and TrueUSD.

Instantly what came to my mind, that this may end the altcoin dependance on Bitcoin. I consider this a really big step towards that.

Personally, I would welcome this, as I'm pretty bored of the altcoins following BTC's trend. Even if some big names criticise Bitcoin, but not any other coin, makes the whole market drop, while only Bitcoin should. This may change easily, and I'm hoping for it.
As I see it, Bitcoin is technically outdated, and I see no point of it other than everything trades into it.

I found some source if you want to dig a little deeper:
https://www.cryptoground.com/a/bittrex-usd-trading-pairs

I would say it is the end of Bitrex being independent from government. Now regulators own them. Unfortunately, it will happen to all exchanges on some day.

I rarely use bittrex but a trading pair with USD is an improvement for cryptocurrency, specially to BTC. A fiat trading pair is something i wish for a long time, just like what bithumb did when all of their trading pair was KRW which is their fiat money. Let us all hope that most big exchanges will follow what Bittrex and Bithumb did. The only question is does Bittrex have a proof that those USD are  trully back up by fiat money? Bithumb already proof how much money they have to backed up those KRW.

having a USD pairing in altcoins doesn't mean altcoins are now independent and not dependent with Bitcoin. Bitcoin will always have an impact in altcoin even if there is an available pair for USD in Bittrex because the traders doesn't rely their trades in USD pair, they always trade using BTC pair.

 Prominent US cryptocurrency exchange Bittrex will offer USD trading pairs to customers in select states now that it has found a banking partner, the firm announced on Thursday. ... Since its founding in 2013, Bittrex has served as a “crypto-to-crypto” exchange, facilitating ...

I get your point, but for me, it all comes down to where you put your trust in. I personally value BTC much much higher than USD.
To me, it only makes sense to trade vs BTC. Bitcoin is my reference point, because it is ultimately the currency I would like to keep.
As for being technically outdated, I have to disagree. When billions of dollars are at stake, you need no fancy untested technologies.
You need a stable, tested code, a code backed up by excellent developers that has endured the test of time.
Otherwise things like the Ethereum DAO hack or similar hacks are just around the corner.

Apparently, it’s s very great development from the exchange but no one would argue the fact that one man’s food is another man poison. What i’m Saying essence is not everyone is okay trading with UsD pairs for the fact that they love trading with BTC but I don’t think there is any way which it would affect each other. Everyone is entitled to their opinion

this is good. people have another way to put money into crypto world beside using usdt. With many bad news about usdt that will be a good future for us when have this pairs

this is cool,I think such things move forward the exchange,the more useful innovations that can help people,and more convenient to work,trade,etc., is a definite plus.Especially when you want to bring everything sharply in Fiat,and simplicity physically do not have time,and the rate falls to avoid all withdraw in USDT and all you have kept, and quietly sell and withdraw in cash

this is a good start so everyone has another way to invest his money into the world of crypto because after all the price of the Bittrex site is often the benchmark of other trading sites in setting the bitcoin and ethereum values.

Depends what is your goal. It is true, that a tested technology should be implemented, but that does not mean there would be no other that can do everything better.
The main problem I see with Bitcoin, are the slow transactions, high transaction fees, the power usage by the vast mining infrastucture. The slow transactions are due to the block times and the increasing difficulty. On the other hand, these (power usage, and the mining infrastucture) provide a basic minimum value to bitcoin.

I think Ethereum DAO is built onto the chain, not essentially proving that Ethereum would be less capable than Bitcoin, for anything. But I might be wrong pn this one.

Never really said that alts are completely independent, but I see this action of Bittrex as a step towards that. I would love to see bigger coins, like ETH being on their own, acting free of Bitcoin. Obviously, the bigger coins will have an impact on each other, you are right about that.
But I can see some traders might rather opt for a USD pair if its convenient, and easily available.
I guess with time, we can see the influence it brings. If we could buy altcoins straight from fiat currency at an exchange, that could mean losing dependence on Bitcoin. But it might be just me.

USDT is a big come on our market.
USDT will be a big earner into this, they just want to join for the people to enjoy the currency.
but don't get me wrong in due time this will fade as cryptocurrency will be into the whole world/

sad but true that bitcoin effect on altcoins is not going to end any soon.. every ico and even most of alt pairs are in btc so i don't think so that btc dependence will ever end, though usd pairing is a good step toward the crypto adoption

Thank you for the article. I think there is no problem if altcoins are dependent on bitcoin price. As bitcoin has that much potential that other coins price can be dependent on it.

I think it's very cool. And I think that many people who doubted will now be able to trade cryptocurrency.

Yes, exchanging each Altcoins with USD makes it easy for those using conventional currency, especially usd. But not the majority of crypto users use USD, for countries that do not use USD I think it needs smart solutions, such as creating local exchange.

thats why i 100% believe if bittrex is the best exchange at this moment
if others exchange use exchange token or coins to make crypto trader interesting with the exchange but not with bittrex

There is no clear cut or proven relationship between bitcoin and altcoins. Bitcoin has no relation to others. But it is seen from the past that when bitcoin is doing good, alt coins are doing good but it is not guaranteed that it will happen always. Bitcoin is the market leader, so others may get benefits because of this but that is optional.

As far as i know Bitrex are free from government. Now they are their own decision maker. I think we can see it will occur with all the exchanges.

It's still not available right now, as far as i know the bittrex exchange site is still waiting for the approval from their partner to make USD pair will available on the bittrex exchange site. The team has stated that the bittrex exchange site still need to configure it with the partner to give ability to the users will able to withdraw their money through the USD directly.

If you look at Bittrex market share as an exchange than it is still too low and they were also not accepting new users which prevents growth. Also Bittrex being KYC only also restricts its influence on the market as not many people are fine with giving their personal documents to an online exchange.

I think Bittrex missed the train as a result of last year's mistakes. They are not customer focused and do not respect it. Thousands of people are victims of account validation. I was one of those guys. I did not take my money for months. I will never deposit money into Bittrex again.

I dont think its all about independent or not but its about how the exchanger can improve their service by adding new service in its platform. Add usd pairs can make the exchanger more great and trader will think more convenient with this. More pair is better for trader who want to change their crypto into fiat in one exchanger.

Bittrex first announced it few months ago and now that they have a bank that will partner with them yeah they already have a usd trading pair. This will help altcoins a bit from being independent from bitcoin but will not all in all because only few exchanges like bittrex have this usd trading pairs while there as still lots of exchanges that only have usd/btc pair.

I still have a question about the future withdrawal of funds, I have already verified by bittrex on the passport, will I need to undergo additional verification for withdrawal?

I think it's been there since a long time ago because the last time I traded at bittex they already have usd trading pair, it is indeed a good move because we really need alts to be independent from bitcoin so the price movement of bitcoin won't affect them that much and they will solely depends on the performance of the dev and the development of the project to raise in value.

From what I could understand from the USD trading pair on bittrex, I thought they have made that available for only corporate clients at least for now, unless I am the one getting the wrong information here.

However, it is a really good development as we get to see some institutions seeing it as a better leverage than tether, and allay some fears they could be having all these while. As time goes on, I hope this will be made available for all users anyway as the following statement below gives hope for us all.


By the way, this should give more enlightenment for anyone who cares to read. https://support.bittrex.com/hc/en-us/articles/360004397771-US-Dollar-Fiat-Trading-on-Bittrex-It-s-Kind-of-a-Big-Deal

I am using bittrex from a long time and it works well for me and now they introduce new feature of USD which makes it more good.

Now it is easy to buy coins with USD rather than BTC/ETH.

Now a days, people rarely use bitrex. Besides it is somewhat owned by the givernment as it sometimes follows the rules and regulations of the government. But this trading pair bring light to it. I hope people will get motivated to work with it now.

I thought that is was approve, I got an information about approval, CMIIW. You can go here if you wanna see the pairs of USDT-BTC. https://bittrex.com/Market/Index?MarketName=USDT-BTC with currently trade on 24h, Has reach 5M USD.

I like Bittrex. This exchange always makes a new improvement.
Unfortunately, USD trading pairs still are forbidden for several countries. I hope this pairs will open for any countries.

But what is the value of these altcoin if bitcoin loses its meaning?
This is a thought-provoking question, because most altcoin has no value, only hype.

This is huge. Path of less resistance. This is what the cryptocurrency market has been needing. The more fiat gateways to crypto the better.

That’s a great concept brought by Bittrex. Many people will be interested to use Bittrex for this USD trading feature. But I doubt if it would make the altcoins not dependent upon Bitcoin anymore.

Some traders wants to trade usd pair coz it's a safe way to earn money and they don't get bitcoin satoshi to pair on some altcoins. well i guess this is a good idea for some traders. They should get bitcoin and covert it to usd if bear market occurs.

Maybe you are judging it wrong. Being paired with USD doesn't mean that from now on it will follow USD. Bitcoin is the king crypto and the price of all alt will always be dependent on bitcoin.

this is a good start so everyone has another way to invest his money into the world of crypto because after all the price of the Bittrex site is often the benchmark of other trading sites in setting the bitcoin and ethereum values.

USD pairing in altcoins doesn't mean altcoins are now independent and not dependent with bitcoin. Bittrex it is new and people have another way to put money into crypto world beside using USD. All the price of the Bittrex site is often the benchmark of other trading sites in setting the bitcoin and ethereum values.

I think it's been around all this long because the last time I traded in bittex they already had a pair of usd trades from the start they started the job, Bittrex first announced it a few months ago and now they have a bank that will partner with them all, help altcoin a bit from independent of bitcoin but not all of them because only few exchanges like bittrex that have this usd trading pair while there are still many exchanges that only have usd / btc pair.

And finally, Bittrex will begin the process of rebranding and ticker symbol changes for the following tokens:

Bitcoin Cash (BCC) - Ticker change to BCH. Name is unchanged.
Legends (LGD) - Ticker and name change to More Coin (MORE).
Bitswift (SWIFT) - Ticker change to BITS. Name is unchanged.

Source: https://twitter.com/BittrexExchange/status/1009194212989038592?s=19