How to sell cryptocurrency on Bittrex
Bittrex is a great place to buy and sell cryptocurrency. They have a wide selection and great liquidity. The steps to sell cryptocurrency on Bittrex are simple and very similar to the steps for buying.
This guide will sell a cryptocurrency for some ETH, but the steps are basically the same for BTC and USDT pairs. Remember to keep track of your trading in case it is required for tax purposes. Here is an article containing 3 great cryptocurrency tax resources!
Steps to sell cryptocurrency on Bittrex
1. Go the Bittrex website and login
2. Click the “BITTREX” logo to get to the ‘Markets’ page
3. Search for the cryptocurrency you want to sell by using the search box for the market you are interested in. If you wanted to trade your Bitcoin, use the search box beside “Bitcoin Markets”. I scrolled down to the “Ethereum Markets” section and searched for NEO.
4. Click the link under the “Market” column. In this case, it was “ETH-NEO”. The bottom 2 screenshots are what you should see after clicking the pair. I split them up because it was a lot of information for one screenshot.
Info: Now we can place an order to sell NEO for ETH. We have two choices for the type of order on Bittrex, a “Limit” order and a “Conditional” order. The limit order lets us specify the exact amount of ETH we are willing to receive per NEO. The conditional order lets us specify a condition before our order is added to the order book. We will be placing a basic limit order in this guide. The only difference is that the conditional allows you to specify a certain price that needs to be met before the order is added to the order book.
5. Since I am selling, I will fill out the “SELL NEO” box and then click “- Sell Neo”. In this example, I want to sell 2 NEO at a price of 0.099 ETH per NEO. The total amount that will be received is 0.197505 ETH. Details on the fields below.
- Units: Enter how many you would like to sell
- Ask: How much ETH do you want per NEO
- Type: Leaving as the default, “Limit”
- Time In Force: “Good ‘Til Cancelled” means our order will stay in the order book until we come back and choose to cancel it. “Immediate or cancel” means it will fill what it can at that moment and then cancel. I am leaving it as “Good ‘Til Cancelled”
- Total: This will show the total amount we would receive (in ETH for this example). It simply multiplies the Units field and Ask field.
6. Validate your order details are correct and then click the “Confirm” button.
7. If the order is placed, it should show in the “Order Book” section (under ASKS), as well as your “Open Orders” section. A ‘Star’ will be placed in the row where your order is in the order book. This gives you an idea of where it is in the current list. Multiple orders can be grouped together, so some of the bigger orders you see could be hundreds of small orders.
NOTE: If your order does not show here it might have auto-filled. Go to the bottom of the screen to the “My Order History” section and see if it is listed there as a completed transaction. You could also check the wallet balance of the one you were selling for to see if it increased.
8. That’s it for how to sell a cryptocurrency on Bittrex. If you made a mistake after placing your order, just hit the “x” button on the order in the “Open Orders” section as shown below. This will cancel the order.
Summary on how to sell cryptocurrency on Bittrex
The process to sell cryptocurrency on Bittrex can be somewhat confusing if you are not familiar with trading on an exchange. After you place an order or 2 it becomes a lot clearer though. After you have sold your cryptocurrency you may want to withdraw it to a private wallet. Check out this guide for those instructions! If the cryptocurrency you want to sell is not on Bittrex, try another exchange. Here is a review of Binance and KuCoin for 2 other exchange choices.