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Author Topic: Bittrex announces minimum trade size raise and other info  (Read 2749 times)
antarjyot
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December 21, 2017, 08:23:06 AM
 #61

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This email is to communicate policy changes for placing orders on Bittrex.  As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
 
Removing stale orders:  Effective today, Bittrex will be removing orders that are older than 28 days.  As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
 
Raising the minimum trade size:  Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi.  We will also require a minimum trade quantity on a per market basis.
 
Creating minimum tick sizes: Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market.  The target is to have minimum trade sizes that are near 0.1% of the current price.  The current minimum tick size is 1 Satoshi.  For example, Ethereum trades at 0.0577 Bitcoin.  Bids and asks can only be placed in 0.0001 increments.  So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
 
A general statement about market manipulation tactics:  Bittrex actively discourages any type of market manipulation, including pump groups.  Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.   
 
For more details around these policy changes, see this article.  https://support.bittrex.com/hc/en-us/articles/115003004171
 
Thank you,
 
Bill Shihara
Chief Executive Officer

Personally, I've been debating moving away from bittrex before but this is the final nail in the coffin. Their restrictive verification requirements and new $8 minimum trade size I'm not a fan of. I'll be moving to a less restrictive exchange.
I like to invest in many coins and a $17 minimum order is not helpful. I'm a small trader and $17 means a lot to me. Hope Bittrex moves back to the 0.0005 minimum requirement or else I wil have to change exchanges.
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December 21, 2017, 09:08:13 AM
 #62

Quote
This email is to communicate policy changes for placing orders on Bittrex.  As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
 
Removing stale orders:  Effective today, Bittrex will be removing orders that are older than 28 days.  As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
 
Raising the minimum trade size:  Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi.  We will also require a minimum trade quantity on a per market basis.
 
Creating minimum tick sizes: Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market.  The target is to have minimum trade sizes that are near 0.1% of the current price.  The current minimum tick size is 1 Satoshi.  For example, Ethereum trades at 0.0577 Bitcoin.  Bids and asks can only be placed in 0.0001 increments.  So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
 
A general statement about market manipulation tactics:  Bittrex actively discourages any type of market manipulation, including pump groups.  Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.   
 
For more details around these policy changes, see this article.  https://support.bittrex.com/hc/en-us/articles/115003004171
 
Thank you,
 
Bill Shihara
Chief Executive Officer

Personally, I've been debating moving away from bittrex before but this is the final nail in the coffin. Their restrictive verification requirements and new $8 minimum trade size I'm not a fan of. I'll be moving to a less restrictive exchange.
I like to invest in many coins and a $17 minimum order is not helpful. I'm a small trader and $17 means a lot to me. Hope Bittrex moves back to the 0.0005 minimum requirement or else I wil have to change exchanges.


This one can eliminate those small time traders who do trades on their site and how come they put some changes, maybe they are doing some manipulation act so that they can maintain their stands and retains only the whales. But for now I will move on the other site who have less restriction since I don't want to get nasty touch on a site who's not friendly to their users.

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December 21, 2017, 09:22:18 AM
 #63

...

This one can eliminate those small time traders who do trades on their site and how come they put some changes, maybe they are doing some manipulation act so that they can maintain their stands and retains only the whales. But for now I will move on the other site who have less restriction since I don't want to get nasty touch on a site who's not friendly to their users.

What other trade site would you recommend then for small traders?
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December 21, 2017, 10:28:20 PM
 #64

The main reason I signed up for Bittrex was for their smaller minimum trade size. It has allowed me to get to know and trade with many coins with not so much money invested. Getting rid of this and I will probably just use Binance more, however they have the same minimum of 0.001. I do not always want to spend/sell this much though.

What exchanges have smaller minimums, lots of choice and reasonable fees?
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December 24, 2017, 04:00:32 AM
 #65


What exchanges have smaller minimums, lots of choice and reasonable fees?

I hate this policy, but it seems the minimum trade size is not fully applied, because I still can make 0.0006 btc size trades, at least on the buy part.

I'm going back to poloniex, but still prefer bittrex for there list of coins, on poloniex i usually place orders that are 0.0002 btc.

Cryptopia would be my target, but there minimum order is 0.0005 btc, I wish it was 0.0002.

Anyone knows if other exchange has similar minimums as poloniex?
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December 24, 2017, 08:12:57 PM
 #66


What exchanges have smaller minimums, lots of choice and reasonable fees?

I hate this policy, but it seems the minimum trade size is not fully applied, because I still can make 0.0006 btc size trades, at least on the buy part.

I'm going back to poloniex, but still prefer bittrex for there list of coins, on poloniex i usually place orders that are 0.0002 btc.

Cryptopia would be my target, but there minimum order is 0.0005 btc, I wish it was 0.0002.

Anyone knows if other exchange has similar minimums as poloniex?

So you can buy that amount but cannot sell it. So left holding little bags of shit until they hopefully go over 0.001.. Nice one bittrex! I will use Cryptopia for smaller trades then. I guess they make up for it on their high withdrawl fees!
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December 24, 2017, 09:00:32 PM
 #67

Plus, their ridiculous 0.001 BTC withdraw fee has always been a huge turn-off. They don't need nearly that much to send a transaction and I'm tired of getting scalped by that exchange.

If you are shocked by that, cryptopia has a .002 transaction fee. So yeah it is even more ridiculous, i dont how how users there would withdraw their transaction with that kind of high transaction fee. But some say it is fast compared to other exchange sites. But for me, i could wait hours as long as it will be sent and it was at least lower transaction fee.
Sometimes you will prefer the high transaction fee for fast transfer. Most of my hitbtc transfer takes 12 hrs which the delay is worrisome and increases the contact of support in several cases.

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richardsNY
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December 24, 2017, 09:10:30 PM
 #68

Sometimes you will prefer the high transaction fee for fast transfer. Most of my hitbtc transfer takes 12 hrs which the delay is worrisome and increases the contact of support in several cases.

If I look at HitBTC's withdrawal fees, then they handle a lower fee (0.00085 BTC) than most of the exchanges. However, the fee itself isn't all that bad, and even in current situation where the network is congested shouldn't result in transactions needing 12 hours to confirm. If you look at your withdrawals, how much in satoshi's per byte does HitBTC really include in fees? If it's significantly lower than what it costs you to withdraw, they keep a big chunk of the withdrawal fees for themselves, which would really be a damn shame. Exchanges at minimum should add fees that would give its users sub 3 block confirmations, otherwise it's unacceptable....
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December 26, 2017, 02:15:56 PM
 #69


So you can buy that amount but cannot sell it. So left holding little bags of shit until they hopefully go over 0.001.. Nice one bittrex! I will use Cryptopia for smaller trades then. I guess they make up for it on their high withdrawl fees!

Yes exactly.

This is the request I submit to Bittrex on trying to solve this problem:

First, I must say that I hate this minimum trade size of 0.001 btc.
Second, the exchange still allows buy orders that spend 0.0006 btc.
On a CURE/BTC coin, I can make buy orders of 0.0006 btc and I can make sell orders that receive less than 0.001 btc.
But on the CLUB/BTC coin, I can't make a sell order that sells 2.6 club to receive more than 0.001 btc I'd like to sell at price 0.00042343 and I get minimum trade requirement not met message.
I'd like to know why is it happening? And if you could fix this.


Of course I can not sell my 2.6 club, because they put a minimum limit on coins as well. Now If I want to sell 2.6 CLUB, I'll have to buy the minimum of club coins permitted and sell those 2.6 together.  
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December 26, 2017, 02:25:59 PM
 #70


This is my second message to bittrex:

Ok, now things are getting expense for me, I realize that Bittrex now have a minimum buy limit to spend btc on, that is 0.001 and minimum number of coins to buy, in case of ZCL is 1.75.

Do you really need to put a minimum of coins per coin to buy?

I was trying to buy 0.001 btc worth of ZCL at price 0.00067035 and receive a MIN_TRADE_REQUIREMENT_NOT_MET. Is that so? You really putting me out of the game.


I still did not get any response from bittrex.
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January 16, 2018, 03:00:54 AM
 #71

Scam.

They will let one buy at 0.00051 and after that kicks the minimum in.

Comming back to bittrex was a really bad idea.

Looks like the whole scene is growing more an more rotten.

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