This guide will teach you:
- How to create your Bittrex account
- How to secure your Bittrex account
- How to fund your Bittrex account
- How to buy cryptocurrency (i.e: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), Funfair (FUN), SiaCoin (SC) and many more…)
Creating your Bittrex account
First you will need to create an account on Bittrex exchange –> Register here. Fill in your email, password and verify your password, mark the “I agree” checkbox and click on the “SIGN UP” button.
Note: Your password must be at least 8 characters long and contain an uppercase letter, lowercase letter, and a number
A conformation email will be sent to your email address – open it and click on the link.
Upgrading account verification
As with all other exchanges, you’ll need to verify your identify in order to unlock basic trading functionality. After you log in with your account, click on “Settings” button located in the main menu on the top of the page – you will see an account information summary:
Now click the “Basic Verification” button from the left side menu (or the green “Upgrade to Basic” button on the Summary page), fill in all the required fields and then click on the “Submit” button at the bottom of the page.
… after submission your data will be processed.
In some cases you will not be listed in the public records, in which case Bittrex will show you an error screen –> click the “Verify Phone” button.
A new window will appear, allowing you to choose your country and supply your mobile telephone number (your cell phone must be SMS capable). Write your number with the country code included (e.g.: +386xxxxxxxx), recheck your phone number, and then click on the “Submit” button.
NOTE: If you don’t receive a verification SMS on your first attempt, log out of bittrex and log in again –> go to Settings –> Phone verification and click on “Request New Code”.
Once you receive the verification SMS, enter the verification code and click on the “Verify” button.
After the verification process you should see a notification that your phone number was verified:
Well done! After a while your status will be updated and your account will have the digital token trading permission enabled. You can check your status under the “Summary” section under Settings.
OPTIONAL: Now you can proceed to Enhanced verification if you are interested in fiat and margin trading. Basic account verification is enough for token trading and transferring funds.
We advise you to enable Two-Factor Authentication (2FA) for extra security. To enable 2FA go to your Settings page and choose Two-Factor Authentication from the menu on the left and follow the instructions.
Transferring funds to your Bittrex account
This example will show you how to transfer ETH from MyEtherWallet to Bittrex exchange. To transfer funds, select “Wallets”from the menu (1), then search for the crypto currency you would like to transfer – ETH (2), and click on the + button (3) next to the currency symbol. (SEE: Buying from ATM OR Transfer from Coinbase).
A new window will pop-up and show a deposit ETH address to which you can send your funds. Use a small amount for your first transfer to make sure everything is working as expected:
Note that only ETH wallet addresses start with “0x”
Now go to your wallet where you store your ETH. In this example we are using MyEtherWallet (MEW). If you don’t have an ETH wallet and did not yet purchase any Ether, please start with our beginners guide.
Unlock your MEW wallet, and select “Send Ether & Tokens” (1) from the top menu. Copy-paste the deposit ETH address you received on Bittrex into the “To Address” field (2) – double check the destination address. Set the amount of Ether you would like to transfer (3) and click on the “Generate Transaction” button (4) – you can leave the Gas Limit as is.
A new button “Send Transaction” will appear at the bottom of the page – click it and in the next window click on the “Yes, I’m Sure!” button to confirm the transaction.
When your transaction is “processed” by the blockchain, you will receive your ETH in your Bittrex account. First it will show up in Pending Deposit….
… and after a while it will be added to your Available Balance. Please note that it might take a few minutes for your transaction to appear.
You cannot trade your ETH or other tokens/currencies while they are in PENDING DEPOSIT, you have to wait for them to appear under AVAILABLE BALANCE.
Outstanding! Now you are ready to buy some crypto coins!
Buying CFI tokens (Applies to any coins in the market: e.i: BTC to ETH; BTC to XRP etc.)
Now for the best part – placing an order. You must be foaming at the corners of your mouth by now, with all the excitement of making your first purchase, so let’s get to it shall we 🙂
Return to the market page by clicking the Bittrex logo in the upper-left corner of the main menu (1). You will see 3 available trading markets:
- Bitcoin – exchange pairs between Bitcoin and tokens (or other crypto currencies)
- Ethereum – exchange pairs between Ether and tokens (or other crypto currencies)
- USDT / BITCYN – exchange pairs between crypto currencies and fiat currencies
Scroll down to Ethereum (or Bitcoin) market and filter out CFI tokens (2), then click on the trading pair “ETH-CFI” (3) to open up the token trading information page.
Once the ETH-CFI trading page loads, scroll down to the TRADING section. You will see a form box for placing BUY orders and a form box for placing SELL orders. The form box header displays your current balance for the given currency on your account. Beneath the TRADING section you will see an ORDER BOOK section with the latest BUY and SELL orders that were posted by other users.
BUY order breakdown:
- Units – amount of CFI tokens you want to buy (you can click on the MAX button once you define Bid price, and the field will be populated automatically)
- Bid – ETH price per CFI token (you can choose between Last, Bid or Ask prices from the drop-down menu or define your own)
- Type – (Limit / Conditional) here you can define when the order becomes valid – using the conditional option you can specify to buy CFI tokens when ETH value is X.
- Time In Force – How the order is filled. “Good ‘Til Cancelled” means the order will be valid until it’s filled in full.
- Total – displays total amount of ETH that will be deducted from your account
BUY order – instant buy:
To instantly buy some CFI you do the following:
In the ASKS order book press the blue button in the first row. This is currently the cheapest selling order on the market.
… a new window will pop-up asking you to confirm your buy order:
NOTE: this order will try to be filled in full. Meaning that the amount of CFI bought will be proportional to the amount of Ether you have. When your order is filled, you will se notification in the upper right corner of the screen:
BUY order – user defined price:
If you want to buy CFI tokens at a specific price, do the following:
- Specify the Bid price of your choosing – price per CFI token (alternately you can click on the price you want from either BIDS or ASKS order book entries).
- Specify the number of CFI tokens you want to buy OR press MAX button to automatically calculate the amount of tokens based on your CFI price and available ETH balance.
- Press the “Buy Cofound.it” button.
You can click on an entry from the ASK or BID order book which will automatically copy the price of token into your BUY order box.
After you place your buy order, you will see a notification in the upper right corner of the page:
… and you can check the status of your open orders by clicking on “Orders” in the top menu. On the ETH-CFI trading page page you can check where your order is positioned in terms of value in respect to other buy orders – your order will be marked with a star in the BIDS order book:
Once your BUY order is filled, your CFI tokens will be delivered into your account. You can check your CFI balance by clicking on “Wallets” button in the top menu (also mark the checkbox “Hide Zero Balances”).
Congratulations, you are now a PROUD owner of CFI tokens!