Received an email Bittrex, Inc. Terms of Service

[ridertiger]

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.

[BarrieBarrett]

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

[MV7]

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.

[CJNRAM17]

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

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...

[nightmanisrightman]

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.

[pey]

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

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)

[audaciousbeing]

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.

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.

[ldah94]

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

                                                         

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

[ngavanngo22]

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.

[hackzang12]

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.

[BettingTips]

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.

[Happyniall]

Agreed. they want it to be centralised.

[beskid]

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.

[Happyniall]

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

[1Referee]

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.

[sotoshihero]

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.

[MinerHQ]

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

                                                         

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

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.

[CJNRAM17]

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.

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

[timikulit]

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.

[yanto@1977]

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.

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.