Bitcoin Forum

So, I received this email from Bittrex about their new Terms of Service, saying I can thank the lawyers.
Anyone with any ideas on what they are gonna do?
This is the link:
https://support.bittrex.com/hc/en-us/articles/360000560871
I think what is important is this sentence, basically saying that you have do your KYC if you wanna trade there at all:
Depending on the functions that you seek to enable on your account and Bittrex’s risk determination, Bittrex may, in its discretion, require identity verification and other screening procedures with respect to you or transactions associated with your Bittrex Account.

And it starts like this (I am not pasting the whole thing to conserve space):
Here it goes:
Effective Date: March 9th, 2018

These Terms of Service and any terms expressly incorporated herein (“Terms”) apply to any access to, or use of, any services made available by Bittrex, Inc. (“Bittrex”) using the website www.bittrex.com (the “Site”) or our mobile applications, and to any other related services provided by Bittrex (collectively, the “Services”). By clicking on an “I Agree” button or check box presented with these Terms or, if earlier, by accessing or using any Services, you agree to be bound by these Terms.

THE ARBITRATION CLAUSE IN SECTION 18 GOVERNS RESOLUTION OF CERTAIN DISPUTES AND WAIVES ANY RIGHT TO TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION.

Bittrex is ​​the most problematic crypto exchange. It  had previously required verification of the identity,
otherwise it would be impossible to withdraw your money.

Still glad I got my bittrex KYC done early, but I'm not sure what bittrex will be like in the future. It used to be the best exchange for trading alts, but it seems to be having some difficulties right now, such as not accepting new members for the time being.

Adding USD fiat trading could also be troublesome, as adding fiat in an exchange brings all kinds of regulations, audits, etc.

Whats the main purposed here in New Bittrex Terms of service. Need more info thanks. I Have a little stock altcoins

like doge coin, red coin, Verge, Siacoin, digibyte. Shall i Convert all to BTC now, While it is Early.  and Withdraw it, Im from asia Country

Thanks...

I heard something about this the other day, somebody was claiming that you would need Bittrex tokens in order to continue trading on the website. As far as I can tell, there isn't such a clause but could somebody confirm or deny this? I don't want to get booted for a silly addition of terms.

I agree with you, this is why I don't use it, and I don't need it at all, there are many good cryptocurrency exchanges like binance, poloniex, bitfinex, and decentralized one OAX (future)

Eventually this is what will happen to the entire exchange sites operating in the crypto world and those that have not fall in line will eventually do that. Its just a matter of time. I got the same message and know by default that it won't go beyond KYCs and even your acknowledgement to give your details to authorities if they suspect anything wrong going on without your express permission. I also think they should even be appreciated for giving headsup to their client rather than implementing over night now we have the option to either continue with them or just move somewhere else for the time being.

The irony of all of this KYCs that I have observed is that rather than increasing the confidence of the public being purported as the reason for such hence, influencing the price of crypto in a positive way, its rather not making any effect as price is just moving in a peg hole with no end to that in sight.

                                                         

I understood that bittrex asked for the verification of your identity if you made withdrawals greater than 10 bitcoin, if I am not mistaken.

I also received the same email from Bittrex. I don't know why I couldn't verify my account with my identity although the quality of my picture is really good :(. I only withdraw 0.4 BTC daily with my Basic verified account and I can't create new deposit address for new crypto that why I changed to use Binance exchange.

It's normal it's going complicated now, Bittrex is going to be centralize market. I should have use other exchanges also to keep funds. but some exchanges are hack by those hackers so i want to have security purposes and if we need to pass our identity then i will pass mine.

I think it's a good way to keep their exchange clean :). There are a lot of dump and pump groups are trying to control the price of cryptocurrency or try to ruin any exchange so IMO this is the best way to keep pump and dump groups stay away from good exchange like Bittrex :). There are a lot of exchanges stll don't require identity verification for trading, I think they should require it asap.

Agreed. they want it to be centralised.

I also received this letter and clicked on the link https://support.bittrex.com/hc/en-us/articles/360000560871.  When I read all the provisions, it became clear to me that nothing would change, just everything that had not been officially reported before would become official.

There are alot of people dealing in crypto that should be registered  ie criminals

It doesn't change anything for me. I had a legacy account there, which I initially thought of to be something that would have a bit more slack than newer accounts, but they don't give one single damn about it. It's blocked and unusable at this point, unless I verify myself there, which I am obviously not going to do. I found out about it at the time I was planning to unload bcash, and to my surprise Bittrex trolled me as well, the bastards. I can happily say that I didn't have any funds on-exchange, otherwise I would be in serious trouble. That's why I feel sorry for other legacy account holders - there is no way to know what Bittrex is actually doing with your personal information, which basically goes up for other exchanges as well, but Bittrex was a Yobit like exchange back in the early days, which isn't something you can say about an exchange as Bitstamp.

I think it started since last year that they are updating thier records  for their KYC. Also, once verified they give you higher limit to withdraw per day. But before anything else,  do not click from your emails, check first for the link as might be a phishing site. You can directly login in bittrex and verifies there.

Not really because mine was also first not verified but after few small withdrawals they stopped withdrawals even less than 0.1 BTC and asked me to verify my account. It had happened very long back and my verification was successful instantly. After that, I don't have any issues to trade on this exchange.

Thanks for the info Bro, I login to the website and this new 2018 Bittrex, Inc. Terms of Service  is Fake. Not Post in their Bittrex Website

This is just like a phising site, But the support link is the same: https://support.bittrex.com/hc/en-us/articles/360000560871

This is great for bittrex. They are really serious for all of their customers. Im glad that im a verified user to them.

With these, they can easily track and ban PUMP and DUMP groups on their platform. Bittrex is the most cleanest exchange compared to others.

Term ( rules/policy ) needed to manage and control system to face risk ( problem ) in their activity. Every exchange have different opinion and rules depend their situation and as member we should do that for good. Verification is not difficult and exchange also have support team to help us fix the problem. Just follow the rules and good luck to you.

Bro, In bittrex I'm using only Basic Verification. Is this still working after April 9, 2018. Im from asian country,  Thanks.

I like Bittrex, coz their Market Apps trading is very light, low cpu and memory usage

Well, here you go:
Bittrex will have no liability or responsibility for any permanent or temporary inability to access or use any Services, including your inability to withdraw Tokens or execute Trades, as a result of any identity verification or other screening procedures.
So, I think I would try to verify myself further than the basic verification or withdraw everything.

Its a general way of implementing KYC to know the customer details using their service.As we all know that Bittrex is an US based exchange and they would have to follow the US laws to continue their business.Otherwise,they would have to face legal actions from the US authorities.

I actually started using Bittrex ad poloniex exchanges before two years.I could remember tose days where i need just an email to start an account in their exchanges.No more questions even if i belong to another country.

But now,time has changed and we have no other option than to follow their rules.

I am also got the same email from Bittrex yesterday. But don't know about the point. So, it's only all about KYC things right?
Fortunately, my verification has been approved by Bittrex team.
A little bit dilemma, because now bittrex knew my details information.

Yeah, you are mistaken. Bittrex will definitely ask you to do verification even without withdrawing. It is their policy and since they are based in the US, they have to follow the rules. Normally there are some certain limits of verification anyway, but to be able to get as much as that, it is definite for you to do an enhance verification.

I see no problem in all of these, and I do not know why people take it as one, why pick on an exchange when all they require is just simple and if it cannot be followed, there are other ones. I have never had an issue with bittrex and I am sure I ever will.

1st i was not aware of this KYC process I just registered and deposited 0.03 BTC and bought 50+ waves approximately $130 worth. and i tried to withdraw my waves but they are not allowed me until I submit documents. once I submit documents they asked to wait 30 days to verify my account but i raised this issue in there slack within 1 day my account was verified. now I don't have any issue.

Well, good for you then, not everyone is so lucky. For the KYC and other verification stuff, it helps if you have an online presence like a website and such in your name.

maybe I will check my email account soon and I hope that it will be fine for me as I upgrade my member in bittrex and I think bittrex doing this to protect their customer and their business. but if we have more question about this, I think we can ask in the support system and let them explain the situations that already happen so their member doesn't have to be confused.

I am amazed at this news, the source is at the end:
Bittrex is reportedly leaking users’ passport scans and photographs as KYC emails from customer support contain dire security errors.

As reported from a Russian-language news channel on Telegram, users who go through the exchange’s manual KYC verification but are rejected receive an email from customer support.

Along with the private documents the user supplies, the rejection email also contains those of several other rejected users, Kriptach states.

This means, in a grimly ironic blunder, passport details and photographs are being freely shared on the Internet.

https://image.ibb.co/e8xkqx/2d701b1efee92f273567bd090fe94aa9.jpg

“Right now I can see the passport of (someone called) Nurbek and a few others, as well as their selfies,” the channel reports.

“It’s just f*cking terrible.”

If the scan provided by Kriptach is authentic, the practice could have huge ramifications for Bittrex, which is yet to comment on the allegations or substantiate any evidence.

In what appears to be a separate issue, the exchange has been silent on social media since Nov. 30, leading to anger from traders on social media.
https://cointelegraph.com/news/bittrex-leaks-user-passports-in-support-emails-says-russian-telegram-channel

Bittrex has a lot of coins and trading pairs. I use this exchange constantly.
But, unfortunately, from time to time with Bittrex I have various problems.
And this is despite the fact that I have passed bittrex KYC

You could not tell more about the problems on this exchange. The fact is that it is better to learn from someone than to feel on yourself. In extreme cases I want to Be prepared for the difficulties that this exchanger can provide.

There is nothing like that and wherever you heard that from, the person obviously must have dreamt about it. No exchange can force you to hold their trading just because you want to trade, and moreover, it has nothing to do with withdrawal even if that happens at all which does not sound reasonable. Worst case scenario, you move out of the exchange but all that I believe is someone who is just looking for recognition while displaying their high level of ignorance.

Yeah, they cannot force you, but some exchanges you get a discount if you use their tokens to pay for your trading. That, I can understand.

Just because they required verification, you decided to call them a problematic exchange? ;D I know it is crazy though, knowing that policies can just be changed, unfortunately, most of usually do not read terms and conditions and we always end up in these stuffs. However, this is not only limited to bittrex, that is a clause you will likely find in other exchanges, but we all just have to live with it.

Well, just use binance or Kucoin, they do not need verification, at least for now.

Actually, I think that tightening the conditions for raising the level of security is quite acceptable. And there is nothing wrong with bittrex. You can name a lot of other exchangers and stock exchanges which have equal signs or fraud, or inaction.

I am fine with security. But requiring very tight KYC and such is simply against the nature of crypto. Let me say this again: CRYPTO

Maybe all of that is for the good of your future at Bittrex.
If I receive an email like that I will read and then skip close.

We take only positive for all of that.

I think I don't receive any email like you and so far, I don't have any problem with bittrex. and I think you can leave the email in your archive and don't think too serious if your account is fine. and if you have a problem, maybe you can contact bittrex customer service and ask about that email, what is the purpose for sending the email to you.