Intro to Cryptocurrency Exchange Account
All right so again you’re going have to upload your IDs and all that. Bittrex to enable your account there. Again they’re all kind of the same in most cases you can actually use the same picture. Sometimes I’ll ask you to put in a unique code in the selfie image you do takes just a couple of seconds to take a picture and within 15 minutes you’ll have an account activated and that’s the last time you need to do that.
All right so I’ve sent over a couple of hundred dollars to my Bittrex let’s click on wallets here you can see here that I have 200 USD in this account.
Estimated value is 0,0455 Bitcoin and that equals about 200 USD. You can see here there are many pages 28 pages of all the different cryptocurrencies. Right now I only have Bitcoin that I’m holding $20 worth of Bitcoin. So in that case I just need to do hide zero balances and then therefore just for organization this will only show up.
Right here is your withdraw. This is your deposit. So if I wanted to withdraw this bitcoin amount out of this Bittrex account let’s say back to square then I’d hit this withdraw button then confirm Bitcoin withdraw would pop up. I would enter the deposit address from my Coinsquare account because remember there are no withdrawal addresses.
So you need to go to the other account get your deposit address put it here and then you can choose the entire amount of Bitcoin or however much you want to transfer out. For example I could do you know let’s say half of that then you’ll see that there’s a fee of point 0,001 and to find out how much that is.
Again we can just go to 0,001 BTC to USD and that equals $4 and 32 cents. That’s what that represents. And this is what you’re going to be withdrawing after it removes the fees.
You can see 0,024 and the quantity that you’re doing is 0,025. So after the fee you’re left with zero point zero two four five you click withdraw and then from there you just wait a short period of time again it can be anywhere from 10 minutes to an hour sometimes a little longer and then it’ll appear in your other account.
And just like Coinsquare if you want to deposit into Bittrex you click on the plus it’ll give you a deposit address and that deposit address is what you will use on your other account such as Coinbase, Coinsquare from there that’s where you enter in your deposit address from Bittrex so that you can fund this account.
I know it’s a bit confusing at first but that’s basically how it works. So to deposit you take the address from the account you want to fund and then you put it in the other account. But if you want to withdraw from any account you take the other accounts deposit address and place it in your withdraw section of the account you have the money in.
Below your account balances you will see pending withdrawals in pending deposits withdraw history deposit history in the pending withdrawals you’ll see the amount of cryptocurrency that is set to withdraw to the account and the opposite pending deposits. You’ll see the cryptocurrency that’s about to come into your account. On the side here you’ll see conformations for example Bitcoin sometimes takes up to three confirmations in rare cases six you know tell you what you’re transferring out and the currency here.
Bittrex a little different. It does update every so often but if you want an instant update you just hit the refresh button and then you can see how it changes. And like I said before it’s extremely important that the addresses you use to deposit or withdrawal are the actual addresses that you want to use verify them for yourself. You will be sorry if you overlook it and copy you know every letter but the last. And then you try to use that address you send it off and then your Bitcoin is gone forever and you know you lose out on that. So keep in mind double check. Make sure you are always sending and receiving with the right address.