Buying a coin on Bittrex

[mfarid12]

I signed up for Bittrex. I would like to buy a coin on it other than BTC, ETH or Ripple. However, I could not find a step-by-step guide as to how to go about doing it? Any help would be appreciated.

[AK47-]

Here you go:
https://youtu.be/hXqK2BcvkYw
This video very well explain how to trade altcoins on Bittrex. It is basically a beginners guide. Hope it helps.

[xFiber]

There are plenty of tutorials on the internet that show you exactly how to buy or trade a coin on bittrex (or another big exchange). If you still have doubts feel free to ask here.

[mfarid12]

Thanks for the responses.

I am going through the video. The first question I have is, on Bittrex, the only way to buy another altcurrency is buying bitcoin first, depositing it on Bittrex and then buying some other coin with deposited bitcoins. Is my understanding correct?

[LeGaulois]

Not really, you can for exemple deposit any altcoin listed and then sell for bitcoin and then buy any altcoin that you are interested in.
People take Bitcoin as exemple because it is the largest altcoin used and the most swag.
If you want to show to people how to change the wheels of a car, use an Audi A4 not a Peugeot 205

[mfarid12]

LeGaulois, thank you for your response. Two questions:

1) So I cannot just deposit money into my Bittrex account and buy an altcoin?

2) Where do I buy bitcoin or another altcoin then then? I have to buy it with actual money somewhere, right?

Thanks.

[LeGaulois]

 @mfarid12 welcome
I don't remember to see the possibility to deposit money on Bittrex, they deal with cryptocurrencies only. There are lot of place where you can buy Bitcoin, it's all depend the method you want to use to pay: credits card, bank transfer deposits, ect. You can use Kraken, Bitsamp, Coinbase,etc but keep in mind that when it's about dealing with money they ask you some ID verifications (ID card, DOB, bill utility...) If you don't feel safe by providing such personnal infos then you can use others methods. With sites like Paxful and LocalBitcoin you have a large choice to buy

[mfarid12]

So to clarify. I already have an account on Coinbase. I buy a BTC on Coinbase and use that address to transfer that BTC to Bittrex. I then buy other altcurrencies there, right?

[LeGaulois]

Exactly. However maybe you will find more easy to use another exchange that deal with dollar, euro, GBP, etc and altcoins? For exemple with Kraken.com you may buy Bitcoins and trade with others altcoins directly, all in one place. The thing is for exemple in the case of Kraken you find less altcoins compared to Bittrex.com

[aesma]

Exchanges offering the most alts are often crypto only exchanges. So you need to use at least two exchanges.

[alva5763]

Yobit accept PerfectMoney

[Coffee2015]

Here you go:
https://youtu.be/hXqK2BcvkYw
This video very well explain how to trade altcoins on Bittrex. It is basically a beginners guide. Hope it helps.

I prefer Bittrex than Polo now.
Bittrex has more potential coins now.
It is also light weight. Love it.

[virasog]

Here you go:
https://youtu.be/hXqK2BcvkYw
This video very well explain how to trade altcoins on Bittrex. It is basically a beginners guide. Hope it helps.

I prefer Bittrex than Polo now.
Bittrex has more potential coins now.
It is also light weight. Love it.

Yes, but poloniex is the No. 1 exchange in Crytocurrency and lot more transactions are going on poloniex than on bittrex. I think being a new user, he should start with Bittrex or better start with C-cex or Yobit before switching to big exchanges.
When i started my career in Exchanges, i started with NOVA exchange  and then quickly shifted to Yobit seeing no big volume at Nova, but got the understanding on how to buy / See / Place orders/ bid etc.

[Iranus]

Yobit accept PerfectMoney

YoBit are absolute scum and no one should care what they accept.

On the subject of Bittrex, you're right that you can't deposit fiat.  The majority of people trading these altcoins are hoping to end up with more BTC, and alts are typically traded against BTC.

You can buy with fiat if you find someone to execute the trade, but there are no trustworthy services at which you can deposit fiat and buy small altcoins.