[ANN] Bittrex - Next generation exchange (btc/ltc/eac/ppc/rdd/ftc/and more)

[rexxarofmoknathal]

Any reason why your deposits take literally 10x longer than any other exchange I've used, even for small amounts?

Seems to take around an hour for you to process withdrawals, whereas Binance, Kraken, PrimeXBT etc all process them within minutes....

Anything I can do on my end to speed this up?

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[JeromeTash]

Any reason why your deposits take literally 10x longer than any other exchange I've used, even for small amounts?

Seems to take around an hour for you to process withdrawals, whereas Binance, Kraken, PrimeXBT etc all process them within minutes....

Anything I can do on my end to speed this up?

It depends on how many confirmations they have to wait before they credit your account. Some exchanges just require one confirmation while other need up to 6 confirmation.

Have you checked your TX ID? How many confirmations does it have so far?
This could be helpful: https://bittrexglobal.zendesk.com/hc/en-us/articles/360009624840-Questions-about-Crypto-Deposits-Withdrawals-on-Bittrex-Global

As for withdrawals, different exchanges have different mechanisms of verifying and processing withdraws. It all depends on how quick the team is.

[moonstruck]

I received following mail from Bittrex:

Thank you for being a valued customer of the Bittrex Global platform.

Per our protocols, we are required to obtain source of funds information from select users. Please fill out the form which you will find at --personalised link was here-- and submit it along with the respective supporting documents within 7 days in order to continue utilizing your Bittrex Global account. This is similar to what other cryptocurrency exchanges in regulated jurisdictions require.

Our privacy policies are available here: ---personalised link to their privacy policy--- which are part of our Terms of Service. Additionally, all of your personal information is kept on an encrypted server.

The link was to this pdf: (image taken from a post from another user on Reddit who received the same)
https://imgur.com/a/c86smPQ

I've barely used the account the past year, I think they try to disable inactive accounts to seize the assets.
The account was used more intensively before that and has been properly verified for at least 2 years.

The fact that they use personalised links is quite disturbing, I definitely won't be using Bittrex any longer.

[JeromeTash]

I've barely used the account the past year, I think they try to disable inactive accounts to seize the assets.
The account was used more intensively before that and has been properly verified for at least 2 years.

The fact that they use personalised links is quite disturbing, I definitely won't be using Bittrex any longer.

I hope your funds weren't in there (in fact never ever leave your valuable assets in any exchange in case you are going to be off trading for a long time)
These crypto exchanges are like unstable weather, you never know what kind of requirements or regulations they can come up with tomorrow.

The personalised links could have been tailored for the territory you come from since different territories have slightly different regulations.

[enhu]

I don't see many users getting the emails asking for the source of funds though so I guess my account is fine. I don't see any reason to panic if they ask for the source but I'd like to know if a lot of us received the email and goes on without worries after submitting documents. I checked my email which I find nothing is sent to me about it.

I have not logged to my account for a year but I have few tokens I kept like ADA but nothing much.

[moonstruck]

I hope your funds weren't in there (in fact never ever leave your valuable assets in any exchange in case you are going to be off trading for a long time)
These crypto exchanges are like unstable weather, you never know what kind of requirements or regulations they can come up with tomorrow.

The personalised links could have been tailored for the territory you come from since different territories have slightly different regulations.

A few months ago I removed most of my funds which might have triggered something. I have been a verified user for several years though.

I don't see many users getting the emails asking for the source of funds though so I guess my account is fine. I don't see any reason to panic if they ask for the source but I'd like to know if a lot of us received the email and goes on without worries after submitting documents. I checked my email which I find nothing is sent to me about it.

I have not logged to my account for a year but I have few tokens I kept like ADA but nothing much.

Check the document for the source of funds, it'd be impossible for me to even provide the documentation asked as some of the platforms I've traded on don't exist any longer.
Do you think it's normal one would need to provide bank statements showing employment income on demand of an exchange? Or retirement income receipts?
Luckily I caught it in time to remove my remaining assets.

[64dimensions]

I also have been getting email questions that fall into the "source of funds" area from Bittrex. I have been with Bittrex since forever.

I have seen big banks drop small businesses with the explanation that compliance costs are larger then any revenue the account generates.

I suspect that Bittrex is doing the same thing at the crypto level. They are weeding out the accounts that don't make money.

[JollyGood]

You definitely were fortunate to get you funds out long before they sent their email but if you had not would they simply have confiscated your funds? Is that even allowed?

Their document asking for status information is very over the top and seems unnecessary too.

~snip~
Luckily I caught it in time to remove my remaining assets.

[JeromeTash]

I don't see many users getting the emails asking for the source of funds though so I guess my account is fine. I don't see any reason to panic if they ask for the source but I'd like to know if a lot of us received the email and goes on without worries after submitting documents. I checked my email which I find nothing is sent to me about it.

I have not logged to my account for a year but I have few tokens I kept like ADA but nothing much.

Don't wait until you receive the email asking for the source of your funds even thou you have no worries about submitting your personally documents. An exchange should never be used as a wallet. A lot of things happen to an exchange such as hacks or getting shutdown on short notice.

[JollyGood]

After you gave up and walked away did you ever recover your funds at a later date?

If you refused to comply to their add-on ToS what would happen to those 0.012 BTC funds? Would they distribute it to a charitable cause which can be traced/proven or would they simply let it sit in limbo?

I had a similar experience with a smaller amount (0.012 BTC), they refused to let me withdraw that unless I provided the necessary documents. I ended up giving up on the account and switching to Kucoin/Binance.

If they requested a second identification document, try to provide it. Don't you have IDs in your country? Try to make one and send it to them. If you fail to provide what they're requesting, your account will remain locked.

[OmegaStarScream]

After you gave up and walked away did you ever recover your funds at a later date?

If you refused to comply to their add-on ToS what would happen to those 0.012 BTC funds? Would they distribute it to a charitable cause which can be traced/proven or would they simply let it sit in limbo?

I still haven't recovered the funds, they're still sitting on the account but since you asked, I searched and found this:

If your Bittrex Account has been inactive and you have not responded to reasonable attempts by Bittrex to contact you for a period of several years (as defined by the relevant state statutes), Bittrex may have an obligation to report any Tokens in your Hosted Wallet or any fiat currency in your Bittrex Account to the applicable governmental entity as unclaimed property. If this happens, Bittrex will attempt to contact you using the contact information provided by you. If you do not respond, Bittrex may be obligated to turn over any Tokens in your Hosted Wallet or any fiat currency in your Bittrex Account to the applicable governmental entity after deducting any fees payable to Bittrex.

I'm guessing that "inactive" here is a reference to logins and not trading?

[JollyGood]

Thank you for the update. Whether it is related to "logins" or "trading" surely they have to send an email to you before they seize your balance. Did they not even send one to you yet?

~snip~

I'm guessing that "inactive" here is a reference to logins and not trading?

[OmegaStarScream]

Thank you for the update. Whether it is related to "logins" or "trading" surely they have to send an email to you before they seize your balance. Did they not even send one to you yet?

They haven't actually. Since they enforced KYC, I've only received a couple of emails regarding wallet removals.

[64dimensions]

Well, the dinkfest continues.

 Four days of mining ETH have yet to show up in my Bittrex wallet. Normally it takes 1/2 hour tops. Sent a note to Bittrex. Is there an issue with the ETH chain?

Best

[OmegaStarScream]

Well, the dinkfest continues.

 Four days of mining ETH have yet to show up in my Bittrex wallet. Normally it takes 1/2 hour tops. Sent a note to Bittrex. Is there an issue with the ETH chain?

I'm not so familiar with mining, but have your total deposits exceeded 0.05 yet? If not, that's probably why.

It doesn't look like there is something wrong with the network or the exchange's wallet either: https://global.bittrex.com/status

[JollyGood]

Sorry I missed this post otherwise would have replied earlier.

I think it is wrong for them to use this or any other tactic to seize funds. Does anybody know what they intend to do with funds they seize?

Thank you for the update. Whether it is related to "logins" or "trading" surely they have to send an email to you before they seize your balance. Did they not even send one to you yet?

They haven't actually. Since they enforced KYC, I've only received a couple of emails regarding wallet removals.

[BayAreaCoins]

Sorry I missed this post otherwise would have replied earlier.

I think it is wrong for them to use this or any other tactic to seize funds. Does anybody know what they intend to do with funds they seize?

Thank you for the update. Whether it is related to "logins" or "trading" surely they have to send an email to you before they seize your balance. Did they not even send one to you yet?

They haven't actually. Since they enforced KYC, I've only received a couple of emails regarding wallet removals.

It says they were going to give them to the government? lol.... What government is holding unclaimed shittokens for people? The thought is laughable.  

Sketchy.

[paramind22]

You are selling me coins that you are not allowing me to sell on your exchange because you triple the requirement
after you sell them.  That's unethical behavior.  

I bought Numinaire from you two times and held the coin now am told I cannot make a profit from it because I need 3x the amount
I have to sell it.  Why allow us to buy it from you if we cannot trade it?

[JollyGood]

Do we have any statistics showing exactly how much they have allegedly given to the government since they implemented this tactic and to which government they gave funds to?

How can anybody take Boittrex seriously when all this sounds ridiculous, it seems they want to seize funds and not return them under any any excuse - usually KYC failing.

It says they were going to give them to the government? lol.... What government is holding unclaimed shittokens for people? The thought is laughable.  

Sketchy.

[condoras]

I have a couple of questions:
1. This seizure of funds is applicable only for US citizens or for everyone? Because I didn't get an e-mail regarding any kind of frozen funds or wallets.
2. These funds are unclaimed tokens? And if yes, then how on Earth can somebody freeze something that it is unclaimed?
3. I only read the last page and it's near two months that members post regarding this issue and OP doesn't post a word. They don't care anymore to reply here, on their thread?