How to trade on Bittrex exchange

Bittrex is a exchange where you can trade your Bitcoin or Ethereum against different altcoins. This means so far Bittrex does not have the ability to trade your bitcoin or altcoins against FIAT (USD/EUR/CNY).

Guide difficulty
40 %

This guide shows you how to place your first trade on Bittrex. During the guide you can chose to buy or sell. Enjoy reading

To trade on Bittrex it is important to add funds first. Before you add funds make sure you secure your Bittrex account.

Once you secured your Bittrex account and added funds to your Bittrex account you can start trading

  1. Login to Bittrex
  2. To make your first trade click on ‘Wallets’wallets
  3. Over here you can see all the funds available. To get some more overview click on: ‘hide zero balances’. This filters out the coins that you do not own. hide zero balances
  4. As you can see our wallet shows 5 different cryptocurrencies at the time of writing. To start trading you have to chose the trading pair you want. One option is to click on the name of the cryptocurrency you own. wallet bittrex
  5. Another option is to search the cryptocurrency on the top of the website. Click on ‘Markets’ and use the search bar. bitcoin markets bittrex
  6. Once you found the cryptocurrency you would like to trade you enter a different screen. The trading screen. It looks like this:trading screen bittrex
  7. This page shows you a lot of options. Lets start with the basics

    This area is the chart area, here you can see the actual and historical price movement of the cryptocurrency. In the chart you have alot of options. The top left corner shows the time. Right now it sits on 1D (one day) this means every candle you see is one day.  In the left top corner you can also select tools for your technical analysis. You can play around with all these settings to make the chart exactly as you wish.bittrex chart area
    The price area shows the last traded price, the total volume of the last 24 hours. The ‘Bid’ and ‘Ask’ price show the price that people are bidding for the cryptocurrency and asking for it. The bottom shows the 24 hour high and low.price area
    The buy and sell area is of course the area where you can buy and sell your cryptocurrencies. More on that later in this guide. buy and sellbox
    Once you scroll down from the buy and sell area you can see the your open orders. Open orders are orders that are placed but not yet completed. You can cancel the order pressing the red X.  The area ‘Market History’ shows the last completed trades on this cryptocurrency. Under the Market history you can see the box ‘My order History’. This area shows your completed/successful trades.open orders and order history

Lets place our first trade.

Your first Buy order

  1. On the left side you have the ‘buy area’
  2. First fill in the amount of coins/tokens you would like to buy.bittrex buy box
  3. If you click on the Blue button with ‘Price’ you have 3 options. ‘Last’, ‘Bid’ and ‘Ask’. The ‘last’ price refers to the last price traded on this cryptocurrency. ‘Bid’ sets the price on the price that people are bidding at, and ask is sets the price at the price people are selling at. If you set the price on ‘Ask’ it fills your order faster.buy area bittrex
  4. You can also set the price lower or higher then these numbers. Just fill in the price manually in the textfield. For example the price this coin is trading at at the moment is: 0.00000062 BTC. If you would like to place a buy order at a lower price you can for example set the price at 0.00000050. The price has to drop a bit before your order will be filled.
  5. You then have two options, ‘Limit’ and ‘Conditional’. Set it to ‘Limit’ to place your order normally. Conditional means you can set orders that fill at certain conditions. For example ‘Stop-loss orders’, more on that later.limit sell
  6. The last option is ‘Good ’til Cancelled’ or ‘Immediate or Cancel’. Good ‘Til Cancelled sets your order and it stays active un till it is filled or cancelled. Immediate or Cancel is the other option.good til cancelled
  7. Press the blue button ‘+ Buy’ and you will see this confirmation screen. Check if you filled out the price and the number of coins correctly and Confirm.buy confirmation screen bittrex
  8. Once your order is filled you will see something like this in the right top of your screen:buy order bittrex
  9. You can scroll down to the bottom of the screen and see your open/completed orders.
  10. Check, first buy order complete!

Your first Sell order

  1. On the right side you have the ‘Sell Area’
  2. First fill in the amount of coins/tokens you would like to sell.bittrex sellbox
  3. If you click on the Blue button with ‘Price’ you have 3 options. ‘Last’, ‘Bid’ and ‘Ask’. The ‘last’ price refers to the last price traded on this cryptocurrency. ‘Bid’ sets the price on the price that people are bidding at, and ask is sets the price at the price people are selling at. If you set the price on ‘Ask’ it fills your order faster.sell area bittrex
  4. You can also set the price lower or higher then these numbers. Just fill in the price manually in the textfield. For example the price this coin is trading at at the moment is: 0.00000062 BTC. If you would like to place a buy order at a lower price you can for example set the price at 0.00000070. The price has to go up a bit before your order will be filled.
  5. You then have two options, ‘Limit’ and ‘Conditional’. Set it to ‘Limit’ to place your order normally. Conditional means you can set orders that fill at certain conditions. For example ‘Stop-loss orders’, more on that later.limit conditional
  6. The last option is ‘Good ’til Cancelled’ or ‘Immediate or Cancel’. Good ‘Til Cancelled sets your order and it stays active un till it is filled or cancelled. Immediate or Cancel is the other option.good til cancelled
  7. Press the blue button ‘- Sell’ and you will see this confirmation screen. Check if you filled out the price and the number of coins correctly and confirm.Bittrex sell confirmation screen
  8. Once yoursell order is filled you will see something like this in the right top of your screen:bittrex sellorder
  9. Right now we sold 1000 units of SIAcoin (SC). You can scroll down to the bottom of the screen and see your open/completed orders.bittrex completed sell
  10. Check, first sell order complete!

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