Questions about trading on Bittrex

This article is meant to help assist our users with understanding how to trade on Bittrex, as well as answer common questions or errors that you may encounter while trading. 

Order Types 

Bittrex currently supports Limit Orders and Conditional Orders. Each order type is unique and has its own benefits but must remain within the trading limitations set by Bittrex.

  • Limit Order An order to trade a specified quantity of an asset at a specified rate or better.
    • A buy order will only be filled at or below the limit price set.
    • A sell order will only be filled at or above the limit price set.
  • Stop Limit(Conditional Order) A delayed order that will not be posted to the order book for execution until a condition is met. Review our support article to learn more about how conditional orders work.
    • You have two stop limit possibilities, "Greater than or equal to" or, "Less than or equal to".
    • You will need to choose a Trigger Price. A trigger price places your limit order into the order book when the conditions set are met, for the limit you chose.
Order Features and Time in Force

Orders placed in the order book will have a limit-by-time:

  • Good-Til-Cancelled: An order to buy or sell an asset that lasts until the order is completed, expired, or cancelled. 
  • Immediate-Or-Cancel: An order to buy or sell an asset that must be executed immediately. Any portion of an I-O-C order that cannot be filled immediately will be cancelled. Partial filling of the order can occur with I-O-C orders. 

Common order features are as follows:

  • Max Buy and Max Sell
    When using max buy you must first enter the bid price for your transaction or the max buy or sell button will not work.
    • Once you enter your bid price you can click "max buy" or "max sell" and your quantity, and total will automatically populate for you.
    • Additional care must be taken when working with Conditional Orders because your balance will not be reserved until the order conditions are met.
  • Market Maker and Market Taker
    Occasionally Bittrex supports Maker and Taker promotions. A market maker on a buy or sell order would be awarded a fee reduction on an order that is placed into the order book with liquidity on the order. A market taker order would be awarded a slightly lower fee reduction as they are removing the liquidity from the market.
  • How the Buy and Sell buttons work on the order book
    When placing an order on the market using the Buy and Sell buttons on the left and right of the order book, it will create a direct buy or sell of that individual order in the book. 
    • It is important to review the quantity of your purchase, as you are choosing to fill the order's parameters and it is set to immediate or cancel.
  • Reviewing your order on the order book
    You can see your order visually on the order book by looking for the order icon on the right or left side of the order books. (See picture below)
    Order_Book.png
  • Market History
    Market history is available below the order book. You may also research the market history by adjusting the charts above the order book to a specific time frame of your choosing.

 

How To Place A Limit Trade

To place a Limit Buy order

1.
 Enter the quantity of coins you would like to purchase in the green box labeled QUANTITY. 
2. Enter your limit price in the yellow box labeled BID. This is how much you are willing to pay per coin with the base currency. 
3. After you have verified the quantity and bid price click on "Buy CoinName" and confirm the total amount. 
 

 
4.
 A Limit SELL Order mirrors the description for a BUY order shown above.
  
  
Quick trades

1. Quick Trades are an offer to immediately "BUY" or "SELL" coins at a rate already posted to the Order Book.
2. The orders on the left side of the Order Book are offers to BUY coins.  The offers to BUY are listed from the highest BID price a buyer is willing to pay to the lowest.
3. In the offer highlighted below, the buyer can purchase 1.460 ETH at a rate of 0.06005000 BTC per ETH for a total price of 0.0877 BTC.
  

 
3. If you click on SELL next to any order, you will immediately sell coins at the highest rate offered and for the quantity offered at that best rate. 

4. In the example below, if you clicked on SELL in the area highlighted, you would SELL 43.331 ETH coins as follows:
    a) 1.460 ETH at a rate of 0.0600500 BTC (the first offer on the list),
    b) 5.328 ETH at a rate of 0.5998001 BTC (the second offer on the list), and
    c) The balance of the order at 0.05998000 (the offer you clicked on).
  

 
5. Once a Quick Order is placed, a confirmation window will pop up so you can double-check the order and confirm it.

6. A Quick BUY Order mirrors the description for a SELL order shown above.

IMPORTANT NOTES!

1. All orders are conditional on there being sufficient coins in your Bittrex account to fulfill the order whether buying or selling.
2. Quick Orders are subject to other Buyers and Sellers reviewing the Order Book at the same time.  Quick Orders are not guaranteed at the displayed rate until the transaction closes.

Understanding the GetMarkets API 

GetMarkets API page is a tool used to review information about the markets on Bittrex. Reviewing the Markets API can be confusing. Below is a breakdown of 1 line from our GetMarkts API. 

  • {"MarketCurrency":"LTC","BaseCurrency":"BTC","MarketCurrencyLong":"Litecoin",
    "BaseCurrencyLong":"Bitcoin","MinTradeSize":0.01686767,"MarketName":"BTC-LTC","IsActive":true,"IsRestricted":false, "Created":"2014-02-13T00:00:00", "Notice":null,
    "IsSponsored":null,"LogoUrl":"https://bittrexblobstorage.blob.core.windows.net/public/6defbc41-582d-47a6-bb2e-d0fa88663524.png"}
 Terms Meaning
 MarketCurrency  Altcoin ticker name.
 MarketCurrencyLong   The altcoin tickers complete name. E.g. LTC=Litecoin.
 BaseCurrency   The market the coin is traded on.
 BaseCurrencyLong   The base market tickers complete name. E.g. BTC=Bitcoin
 MinTradeSize   The minimum amount of the altcoin required to create a trade.
 MarketName   Describes the base market and altcoin combination BTC-LTC.
 IsActive   Describes if the market is online(true) or offline(false).
 IsRestricted   Describes if the altcoin has restrictions and is an international coin. If the coin is   international (true) if the coin is domestic and available to all Bittrex users,   (false).
 Created  Provides the creation date of the coin on Bittrex.
 Notice  Provides market notices, or will say "null".
 E.g. The BTC-LTC market will be removed May 5th, 2000
 IsSponsored   Will provide a link to the sponsored site, or will say "null"
 LogoUrl   URL to the coins png.
How to Retrieve and Analyze your order history

You may wish to review your order history for information about your most recent orders. To download your order history you can review our support article or,

  1. Login to your Bittrex account: https://bittrex.com/
  2. Click on <Orders> on the homepage.
  3. For your full order history, click on the <Download History> button for a spreadsheet of all your orders.

When reviewing your order history you may need to put the file into an excel or spreadsheet program to view the orders accurately. The order history will provide you with the opening and closing date of your transaction, your order details, and Bittrex's commission information. Below is an example of how your order history may appear once in a spreadsheet.
Orders_History_CSV_into_Spreadsheet.png

How do you calculate Commissions and Actual rates?
For more information on fees, you can review our fee list here

  • To calculate your commissions: Limit*Quantity=Price*.0025=Commission
    • As an example the second order is USDT-PESOS. The order has a Limit of 0.05 for a Quantity of 100.
    • Limit(0.05)*Quantity(100)=Price(5). Price(5)*0.0025=Commission(0.0125)
  • To calculate actual rates: Price/Quantity=Actual Rate(Price Per Unit)
    • As an example the second order is USDT-PESOS. The order price is 5 and the Quantity is 100.
    • Price(5)/Quantity(100)=Actual Rate or Price Per Unit(0.05)

How to audit your own altcoin
You may audit your altcoin balances to ensure they are accurate. This will require your deposits, withdrawals and orders information.

  • Deposits Review your deposits from the Holdings section of your account and copy the deposit information into a spreadsheet. Add up the amount of the altcoin deposited. 
  • Withdrawals Review your withdrawals from the Holdings section of your account and copy the withdrawal information into a spreadsheet. Add up the amount of the altcoin withdrawn and the TxCost. Lines that are marked as Canceled "true" will not be added in the audit
  • Orders Download your full order history from the orders section of your account and open this information in a spreadsheet.

To Audit:

  • Add the Deposits and Buy quantities together. (Profits)
  • Add the Withdrawal and Sell quantities together. (Losses)
  • Subtract your profits from your losses to calculate your expected balance and compare the balance to your altcoin balance listed in your Holdings tab of your account. If you encounter any issues with your audit you may create a support ticket.

Calculating your 30 day volume
You may also calculate and review your 30 day trading volume. This will require your order history information for the last 30 days. Bittrex may offer promotions like this promotion Fee Discounts for Maker-Taker trades for accounts that generate a specific amount of trading volume. 

  • Download your full order history from the orders section of your account and open this information in a spreadsheet.
  • Isolate the last 30 days of trades and separate these trades based on their base markets.
  • Add the buys and sells of individual base markets price column and then multiple the totals by the 30 day average value of the coin for BTC or ETH. USDT and USD will have $1:$1 ratio.
  • Add the values of all BTC, ETH, USDT and USD trades to find your 30 day value. Example is provided in the screenshot below.
    30_day_volume.png
Common Error Codes and Troubleshooting Tips

The following are common error codes you may see when trading and troubleshooting tips. Additional error codes may be found through our Error Codes - Troubleshooting common error codes FAQ Article.

Error Troubleshooting
MAX BUY Failed
Please provide a bid greater than 0 to properly calculate the MAX BUY Quantity 
This error occurs when you have not yet entered a "Bid Price". Please enter a bid price and try again. 
MAX SELL Failed
Please provide a bid greater than 0 to properly calculate the MAX SELL Quantity 
This error occurs when you have not yet entered a "Bid Price". Please enter a bid price and try again. 

Trade Failed
Your account must be approved for Fiat to trade in this market. For more information on Fiat trading eligibility please visit the following support article https://support.bittrex.com/hc/en-us/articles/360004441491.

Please correct these issues and try again.

Your account has not yet been approved to trade Fiat on the marketplace. You will need to apply for Fiat trading through the link provided.  
Trade Failed
The following errors were encountered:
Your available balance is not sufficient for this trade.
Please correct these issues and try again. 
When placing a trade your trading parameters were not sufficient for the trade. Adjust your quantity or total to meet your available balances. 
Trade Failed 
The following errors were encountered:
You have an existing order on this market that this order would execute against. Buying or selling your own order is forbidden. Please review your open orders and try again.
Please correct these issues and try again.
You cannot simultaneously place a Buy and Sell order for the same coin as your order may not be fill by yourself. Conditional Orders may assist with helping to avoid this error.
Trade Failed 
The following errors were encountered:
The minimum quantity for the XXX-XXX market is X.XXXXXXXX
Please correct these issues and try again.
The error message will provide the minimum trade size allowed. You may also review the minimum trade size through the API documentation.  
Trade Failed 
The following errors were encountered: 
ACCOUNT_DISABLED 
Please correct these issues and try again
If your account is disabled you will see this error. Common reasons for an account to be disabled are: Having an unverified account, self-disabling your account, verifying multiple accounts. Please create a support ticket for assistance with reactivating the account. 

Trade Failed
The following errors were encountered:

Your current IP address is not in your IP Whitelist. To perform this action, you must add your IP address under the IP Whitelist section in Settings. 
Please correct these issues and try again.

 

You can whitelist an IP address to approve trading from static IP address. This is another security feature to help keep your account safe. If you are encountering this error it is because your IP is not in the whitelist. You will either need to add it, or remove all whitelist settings for trading.

Trade Failed
The following errors were encountered:
RESTRICTED_MARKET 
Please correct these issues and try again

Customers who are U.S. citizens, customers who are located within the United States, and those who have not agreed to the International Terms of Service will be unable to trade or access International Tokens. If you are international and your account is receiving this error, please create a support ticket here.

These markets are identified with an * when accessing the marketplace from Bittrex International.

 

If your answer was not provided through this support article or the helpful links provided, please feel free to reach out to our support staff with any questions or concerns. We always want our customers to be able to use the tools available to them. You may use this direct link to create a support ticket or alternatively, you may review our step-by-step instructions here for how to use our live chat function.

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