From Unikrn’s radio interview with Bittrex’s CEO Bill Shihara, popular exchange will soon be able to fill up accounts with fiat currency. To be exact, in US dollars for most of their clients and partners. For this moment, there are few main US exchanges that are accepting US dollars are GDAX/Coinbase and Gemini. This would make Bittrex equal shoulder to shoulder with these major exchanges.
Newbies at cryptocurrency often find entry into the cryptocurrency market through the Gemini or Coinbase/GDAX platform, because the process becomes fairly simple for fiat deposits. It goes through automated clearing house (ACH) or a bank wire transfer. This is why these two exchanges remain so competitive, despite the fact, that they have extremely limited options. Fiat deposits is a game changer not just for the Bittrex, but also for entire cryptocurency community as Bittrex is one of the most recognized exchange in the market.
UnikrnRadio: Bittrex CEO Bill Shihara + Rahul Sood:
It is only a question of time when Bittrex will include USD deposits in it’s services then both Coinbase and Gemini will be forced to ‘brace themselves’ during the fight for bigger ‘bite’ of the market.