What is the difference between Coinbase and Bittrex?

One of the most confusing parts about trading cryptocurrencies for the first time is that not all trades can be made in a single brokerage account like Charles Schwab or TD Ameritrade.

Instead, trading cryptos involves three main steps…

  1. You purchase a popular cryptocurrency — like Bitcoin or Ethereum — through a checking account or credit card using a platform like Coinbase.
  2. You then transfer that cryptocurrency to an exchange like Bittrex.
  3. Then you use the exchange to purchase other, smaller cryptocurrencies.

We walk you through each step in our tutorial series here.

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