Bitcoin Forum

Bittrex wants my credentials,where is crypto anonimity?! I cant withdraw my funds! I beware to give my credentials to bittrex I think its not safely >:( Any oppinions?

I've never had such issues with Bittrex, so it may be that you tried to withdraw a big amount of money.
And in such case I find it normal in the world we live in today to require that. It's the AML requirement they have to comply in order to run legally.
I did a quick google search and I have 2 links for you to read.
https://support.bittrex.com/hc/en-us/articles/215282838-Frequently-asked-questions-about-account-verification
https://support.bittrex.com/hc/en-us/articles/231701788

I seriously don't understand why people keep complaining about these situations. If you sign up to an exchange, you directly agree with all its terms, and when it comes to certain trades and actions, a certain level of verification is required. Bittrex is running a legitimate business that abides by all rules/laws, and thus you can kiss your 'anonymity' goodbye. I can definitely understand that you aren't easily giving out your precious personal information, but it's not that we're talking about Yobit, Wex, or Liqui here, Bittrex is probably one of the better overall non fiat exchanges out there. Just go through with it if you want to withdraw your funds, there is no other option than verification. ;)

Difference between crypto or real money and banks ??? No difference,the same big fees and no anonymity,nothing here.

I see this very much as being a tempory situation. While we still rely on exchanges then they are always going to be forced into complying with KYC/AML regulations. What will happen eventually is the technology will be developed to allow decentralised peer-to-peer exchanging of cryptocurrencies.

Soon or later, regulations will be put in place, but look at the bright side, with regulations people will be less exposed to scammers, and big investors will be "less scared" to invest in Bitcoins. Coinbase asked for a copy of my passport when I signed up with them. If you have nothing to hide and do nothing illegal, it is not a big deal IMO.

If I can withdraw my btc from bittrex in the future,I never use again this exchange :'(

Don't act like Bittrex did you any harm -- they just follow the rules that fit within the long list of regulations exchanges have to deal with. If you will be able to withdraw your funds, it means that you have verified your account, and from there you can continue using Bittrex -- verification is a one time occurrence. Man up and handle it accordingly, because the longer you're not doing anything, the longer you can't get your funds back, it's that simple.

You do realise that Bittrex has frozen over 1000 accounts in the last few days.

People with fully verified accounts can no longer access funds, people with legacy accounts have had withdrawal limits reduced from 1337BTC a day to 3BTC

So yes Bittrex are causing harm as altcoin prices slide and people cannot sell when they want to.

Two words: Shapeshift & Monero or Shapeshift & ZCash if your preffer.

Or, to make sure, Shapeshift, monero, shapesift zcash and shapeshift bitcoin.

they have changed their terms multiple times recently. many of us did not sign up to these terms. they dropped peoples' withdrawal limits to 0 or 0.025 BTC/day unless they start the verification process. many people have basic verification, which was a healthy medium between full anonymity and giving your passport and SSN to a shady exchange. nobody knows who the owners of bittrex are; they are not public personas like with bitstamp or even bitfinex.

how do you know they are a "legitimate business that abides by all rules/laws?" for all i know, they might be taken down by the FBI tomorrow just like btc-e was. they've been operating as a money transmitter -- and headquartered in the USA no less -- without any legal registration as an MSB in any of the 50 states. that alone is enough to have them immediately shut down by regulators. why the hell would anyone want to give their documents to such a company? how could they be trusted to store the data properly? look at what is happening to equifax: you think bittrex can be trusted with our SSNs? fuck that! they are openly flouting the law already, you think they give a shit about the integrity of your personal data?

the fact that there is a large, steady stream of people complaining of having their accounts disabled recently and forced to provide ID documents suggests this is systematic, and not the fault of the users whose accounts are disabled. this is shady as fuck on the part of bittrex.

I am well aware of what's going on, but what exactly has this to do with OP? OP doesn't have a verified account, and thus has landed himself into a rather unnecessary annoying situation. Bittrex as it is doesn't allow anyone freshly signing up to withdraw funds without verification. It clearly shows that you have to bump your account verification to at least the basic level in order to be able to withdraw funds, which is 3 BTC worth of whatever crypto currency per day. In this case I still stand by my words -- Bittrex didn't do this user any harm.

Terms have been very lenient for the 'older' accounts, but the fact is still that you make use of a centralized exchange platform that at any time can change the rules of its 'game'. Does it suck that they can just change things at any time, sure it does, but that's something people shouldn't be surprised about.

Perhaps I should have used different wording -> They try to act like they are abiding by the rules/laws.

That basically goes up for every exchange. Nothing protects precious user information from being abused in whatever shape or form, looked into by entities that should be able to do so, etc. It's just people fully verifying initially, where it then is being pushed deep under a heavy load of sand, where after that people don't care anymore as long as it isn't directly bothering them.

That I can definitely agree with, but I was mainly referring to people signing up in recent days. If you sign up today, without looking into the terms at all, you deposit whatever coin, and then you find out that your funds are stuck, honestly, who's fault is it then? And that's exactly what I was referring to with my initial post. I am not talking about others who've been long term members of Bittrex and suddenly are forced to provide ID and whatnot.

Terms were not lenient for older accounts. Many people have dozens of BTC stuck because they lowered the withdrawal limit to 0.025 BTC/day. That's a joke limit. Plus their withdrawal fees are huge. Sites can change terms whenever they want, but people can and should complain/warn the community of these shady practices. And nothing obligates you to come in and defend them for fucking over so many people at once.

And in this space, when I see this sort of thing happening, my first thought is "covering up insolvency" before anything else. Don't give these fuckers the benefit of the doubt. They have been operating illegally for years now. Don't for a moment act like they are legit. We, as crypto users, really need to migrate to decentralized exchanges...


They make them up as they go along. They have legal counsel and if they are competent, the owners are aware of what money transmitters are. They choose to openly ignore the law -- and they make this extremely apparent -- while enforcing arbitrary restrictions on customers that are not legally required. You think there is some law saying "everyone has to verify otherwise 0.025BTC/day limit"?


It doesn't go for every exchange to the same degree. Are you really comparing Gemini to Yobit? Bittrex is much close to Yobit than any of the legit exchanges. They could disappear tomorrow. They could easily be shut down by the DOJ at any moment. They have been operating illegally since inception and to boot, they are even based in the USA.

Bittrex will scaming everyone very soon, just w8 & see
they are changing the site terms whenever they want
blocking people, blocking withdrawal , ...... without any excuse and prior alert

There is no anonymity, neither on exvhange nor on most cryptocutrencies. In most countries exchangers and customers under certain circumstances have to pay taxes. There is also with cryptocurrencies no lawless space.

I assume it's safe, and they're required to do it.  Don't know about you, but if I had
any decent amount of money on Bittrex, I'd play their game, get my money, and
never use them again.  Weren't you aware this was going to be an issue before you
joined up with them?  It's common among all the exchanges that when dealing with
fiat, you have to go through all the KYC requirements.  Bittrex isn't alone in this.

I'm disappointed to see these shills in here saying this should be expected behavior and that the site can change the terms whenever they want -- with no notice -- when it comes to custodial duties. I actually don't think that's necessarily legal, as some are suggesting. In 2013, when Bitstamp mandated verification, they gave all customers ample notice to withdraw their funds if they did not plan to verify their accounts. Bitstamp is one of the world's most trusted exchanges.

I'm seeing complaints across Twitter about this too. I'm so glad I didn't follow through and fund my Bittrex account. I hesitated because of this exact fear. I tend to agree that we need to assume that this is a pretense for avoiding a bank run in an insolvency situation. They would know -- after Cryptsy -- that it looks a lot better to "disable accounts for user security" or "mandatory KYC verification for shitcoin trading even though we don't operate within the law" looks better than stuck/missing withdrawals.

Just wait my fellow cryptonators, wait a few more years when there is no need to exchange crypto to fiat, there is nothing we can do about it. exchanges if they allow you to do whatever you want, governments will freeze their bank accounts and all of their assets. if you could create a group to do mass trades on a DEX you will have trouble and earning profit will become harder but for now they have our funds and if we do something or say something, they might as well shut down their services and run to jump females on some beaches. lol.

Those days are long gone, if you are looking to draw out a large sum then you need to meet the KYC guidelines, this is the same across all legit exchanges and although it is a bit of a pain it is kind of the norm now.

Times are changing and there is really no anonymity in bitcoin these days and this is due to the attention its getting from government forces who are bent on tagging it being used for fraudulent and money laundering activities. I guess the situation at hand is one of compromise where you have to choose either to part with some information or not use the crypto currency because sooner or later this will be applied across board by all exchange sites totally if they still want to remain in business.

There is no anonymity in crypto whatsoever when dealing with crypto-to-FIAT exchanges and vice versa.
It would really help if you told us what you're trying to withdraw.
They would only ask for your details if you're withdrawing FIAT, which is necessary due to KYC regulations.

This is about Bittrex. They don't offer fiat markets. They do apparently accept USD wires for $100,000 or more, but they deliver Tether-USD -- not USD, as they don't have the banking infrastructure to support high volume fiat deposits/withdrawals.

So, what's happening is that Bittrex (perhaps under pressure from US authorities) is determining that it is not merely interaction with fiat money that requires KYC. Merely owning an account with some arbitrary amount of value ($1000) worth of digital currencies apparently requires it.

I had the same problem too, but i did something to withdraw my funds and somehow it works. You might wanna try it, i have made a withdrawal without even confirming my identity. I think this thing works right now because that was only maybe 4 or 5 weeks ago. To widthraw your funds just convert it to any other alts like doge or ethereum, etc.. then send it to another trading site that has no KYC requirements. Or send it to shapeshift.io (not recomended high fees).

Shapeshift is expensive, but 100% anonymous. Shapeshif to Monero and then to your private accounts and that´s it.

They are basically monitored by government agencies so they need to adhere with their rules and laws, and that is to get credentials from their users that will withdraw large amount of BTC from their website to comply with Anti-Money Laundering law. You can still withdraw BTC (using Basic account) but that should be less than 3 BTC per day. This is quite expected as the government will try to form a firm grip to cryptoexchanges.

Shapeshift isn't exactly anonymous. They log IP addresses and block TOR. So you can use a no-log VPN and be reasonably sure of your privacy, but that's up to the VPN provider. There is no such thing as anonymity when we depend on centralized services.

I agree, though, and I use it. The fees aren't that bad -- they basically work out to what I'd pay on an exchange. Maybe a bit more due to transaction fees (because everything is on-chain) depending what currencies I'm trading. I'm trying out Changelly, haven't figured if the fees are better or not. You need to use an email address with Changelly, otherwise it's the same as Shapeshift.

I seriously doubt those will be fast enough for usual trading and further fiat conversion is out of the question. Since you can't trade coins fast to earn from price spikes and have no option to exit to fiat without giving your ID anyway I'm not holding my breath to see it anytime soon.

You can certainly trade fast enough to take advantage of price movements, but you have to zoom out to the 4H, daily and weekly charts. The latency experienced with decentralized exchanges is the main reason why they aren't acceptable for day trading. If someone can figure out how to fix that, then I am confident that traders will weigh the exchange risk and liquidity will come to decentralized exchanges.

If regulators haven't come down on Tether and other fiat-pegged coins by then, movement to decentralized exchanges will definitely cause them to. That's the main drawback of next generation decentralized exchanges; there's still no fiat onramps. The next logical move is to take down Tether...

So when the crypto-rouble, crypto-yuan, crypto-IMF-coin, and possibly the crypto-aussie dollar hit the exchanges, then does Tether becomes a moot point?

Hmm, I don't think so. It actually brings Tether into the spotlight. The Crypto-Ruble and Crypto-Yuan (or whatever they end up being known as) are backed by their respective central banks. There is no comparison to Tether.

Tether is a shady company that can't move money and hides its bank accounts for fear that regulators/law enforcement might freeze their assets. It's no secret that they've been blacklisted by the banking system (and not just with USD) since early this year. You think the US would just let Tether operate with impunity? People can use it to completely skirt taxes and AML compliance...