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aprilnot
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May 19, 2019, 11:17:26 PM |
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Heard about this rather well known exchange among the cryptocurrency exchange having issues with settling customers requests to process their withdrawals a few weeks ago. https://ambcrypto.com/hitbtc-is-insolvent-claim-customers-facing-trouble-withdrawing-funds-for-several-weeksDidnt think much of it and thought it would just clear itself up eventually. But then reading about an article just posted today about them asking full kyc or they will keep any customers funds. https://www.ccn.com/hitbtc-users-shout-fraud-kycSo they are holding any cryptocurrency a customer has in their accounts hostage for those who do not comply? Is this acceptable and have other exchanges done this in the past without giving a time frame to be able withdraw your funds if you do not want to go through the process of verifying your exchange account this way? oh shit, this is so bad bro. in other exchanges, we don't need to do KYC if only to withdraw, even though it has a very low limit. this is very cruel to users who have little assets. I haven't used hitbtc for a long time, so I don't know the latest information. so thank you for sharing this news, I will now never use hitcbtc again from now on. |
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CryptoBry
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May 20, 2019, 06:51:42 AM |
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HitBtc has always had problems for the user to withdraw btc. It's not something that happens now, just search. This does not mean that it will close or that it will become insolvent. It's part of their business being a bad exchange, and that's why they accept so many shitcoins.
I was too wary about HitBTC when I used to trade some of the tokens I got from bounties back in 2017 and last year. The problem then is when a specific token is only trade in HitBTC so there is no choice but to work with that exchange. Just searching online can yield so many unresolved complaints against the services of this exchange. I know that HitBTC also got a name in this industry and it is boasting of a good sizable number of users but I don't appreciate the fact that their customer support is very bad. And now, it immediately changed its KYC policy and many are assuming this is just to cover the real problems of the platform. Let's hope that this will not be the next exchange that goes down the drain. |
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Ipwich
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May 20, 2019, 08:18:04 AM |
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I think it is unfair since as what have been posted on the article the KYC requirement on their TOS was just recently added and old-users was not notified by those changes.
The thing happen to Bittrex, they allow sign ups before even without KYC and I have enjoyed that for a year I guess but then they change their policy but adding the KYC requirement, but for me, I see no problem since KYC has become a basic requirement already, so if we can comply, we should do. I suggest those who cannot submit with the KYC and are enjoying trading now, should consider the risk in the future. About my hitbtc account, my account is not KYC approved yet, but I am still using the exchange as normal, thanks for this heads up, I might start applying for KYC soon. |
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omone1
Member
 Offline
Activity: 843
Merit: 52
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May 20, 2019, 11:24:51 AM |
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HitBTC exchange has never been customers centric and and has continue to be so, I have an account with them, I fear to trade there because of their high withdrawal fess which is anti-cryptocurrency.Why should I trade in an exchange that careless about customers's plight.
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jakelyson
Legendary
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Activity: 2170
Merit: 1069
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May 20, 2019, 09:33:55 PM |
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HitBTC exchange has never been customers centric and and has continue to be so, I have an account with them, I fear to trade there because of their high withdrawal fess which is anti-cryptocurrency.Why should I trade in an exchange that careless about customers's plight.
That is true. I also have an account in HitBTC and I am not using it anymore because of withdrawal fees. I once used it to buy some tokens in 2017 and when I tried to withdraw the token, the withdrawal fee is higher than the tokens that I bought. I have no choice but to leave it there until they dropped the listing of that token. The customer service is no help as well. |
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niisarearning
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May 21, 2019, 07:08:31 PM |
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Heard about this rather well known exchange among the cryptocurrency exchange having issues with settling customers requests to process their withdrawals a few weeks ago. https://ambcrypto.com/hitbtc-is-insolvent-claim-customers-facing-trouble-withdrawing-funds-for-several-weeksDidnt think much of it and thought it would just clear itself up eventually. But then reading about an article just posted today about them asking full kyc or they will keep any customers funds. https://www.ccn.com/hitbtc-users-shout-fraud-kycSo they are holding any cryptocurrency a customer has in their accounts hostage for those who do not comply? Is this acceptable and have other exchanges done this in the past without giving a time frame to be able withdraw your funds if you do not want to go through the process of verifying your exchange account this way? Even I am having some fund in hitbtc I never tried to withdraw or trade because of huge bearish trend now I am seeing news like this it’s really horrible . Just I lost fund from cryptopia as they shutdown exchange for liquidation now hitbtc. What’s happening |
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joinfree
Sr. Member
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Activity: 1246
Merit: 260
1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL
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May 21, 2019, 10:25:32 PM |
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HitBTC is one of the few exchanges that i never liked trading over there because of all the fake volumes and fake trades that is going on over there. They deceive investors with huge daily market values but on the reality there is no active trade going on but only bots who are buying and selling to themselves. Stay away from this exchange!
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Crypto Enthusiast supporting innovative ideas for the Liberalization of the world from the Centralized Institutions.
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Duzter
Sr. Member
Offline
Activity: 1092
Merit: 256
Leading Crypto Sports Betting & Casino Platform
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May 21, 2019, 10:31:26 PM |
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I've been in this market for a long time. I never had a serious investment in HitBtc. HitBtc is obviously a questionable exchange. Always be cautious about such exchanges.
I have been using hitbtc for every trading. And it is unusual that my withdrawal is not being process for a week. It is the answer on that, that it needs a kyc. I have been trusting this exchange for a long time and now many issues occur that it could be a scam. Hope that my coins there wont lose. This is completely unfair from an exchange that has got good reviews, I've been using it for a long. It has got increased withdrawal fee but never had such an experience on withdrawal. Now it's time to move funds, because they could have planned something to take hold of user funds and make use of other developments. |
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Cuk0ng_bitc0in
Member
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Activity: 188
Merit: 17
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May 21, 2019, 10:33:47 PM |
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I see that the exchange also wants to take a profit from users. and that is one way to get profitñ of other users. I think. this is a bad way. when HITBTC become a large exchange and high volume of trading transactions, it gives a many profit to exchange owners.
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fortunecrypto
Legendary
Offline
Activity: 2450
Merit: 1047
thecryptocurrency.directory
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May 22, 2019, 01:22:12 AM |
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Heard about this rather well known exchange among the cryptocurrency exchange having issues with settling customers requests to process their withdrawals a few weeks ago. https://ambcrypto.com/hitbtc-is-insolvent-claim-customers-facing-trouble-withdrawing-funds-for-several-weeksDidnt think much of it and thought it would just clear itself up eventually. But then reading about an article just posted today about them asking full kyc or they will keep any customers funds. https://www.ccn.com/hitbtc-users-shout-fraud-kycSo they are holding any cryptocurrency a customer has in their accounts hostage for those who do not comply? Is this acceptable and have other exchanges done this in the past without giving a time frame to be able withdraw your funds if you do not want to go through the process of verifying your exchange account this way? I just knew this is going to happen, I read a lot of bad writes up about Hitbtc several months ago and there are so many complaints about Hitbtc, just check the scam section for verification, these are warning signs that people should not ignore, if the complaints are growing, there's a big chance that they will escalate. |
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rdbase (OP)
Legendary
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Activity: 2856
Merit: 1499
Join the world-leading crypto sportsbook NOW!
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May 22, 2019, 01:57:38 AM |
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I think it is unfair since as what have been posted on the article the KYC requirement on their TOS was just recently added and old-users was not notified by those changes.
The thing happen to Bittrex, they allow sign ups before even without KYC and I have enjoyed that for a year I guess but then they change their policy but adding the KYC requirement, but for me, I see no problem since KYC has become a basic requirement already, so if we can comply, we should do. I suggest those who cannot submit with the KYC and are enjoying trading now, should consider the risk in the future. About my hitbtc account, my account is not KYC approved yet, but I am still using the exchange as normal, thanks for this heads up, I might start applying for KYC soon. I recently received an email from them stating if I dont verify my account it will be automatically disabled and I wont be able to recover it even if there are funds in there. If I wanted to have an account with them I would need to reregister and start the verification process so to use their exchange. I think poloniex customers received a similar email saying they need to have their accounts verified with kyc information as well. Dont quote me on this as I dont have an account with them. |
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BlackFor3st
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May 22, 2019, 03:36:27 AM |
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This is the common problems with any exchanges therefore it's not a good decision to leave your money in their hands as they can alternate their terms and conditions anytime.
Then they can just forfeit your money anytime if you cannot comply to their new rules, though KYC is not a big issue especially if you are willing to give your credentials to them but for those people who want to stay anonymous then it is a big problem for them. It's better that you need to be careful especially in storing your money, it's better that you hold it by yourselves rather than putting it in any exchanges to avoid this kind of problem in the future.
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b3llsf1l3s
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Activity: 616
Merit: 12
Send&Receive Money Instantly, w/ no hidden costs
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May 22, 2019, 03:52:54 AM |
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Even though in some ranking websites, HitBTC also occupies the above position, this is also actually confusing regarding the HitBTC policy which is like decentralized, all activities in it require fees, even deposits. of course this fee is even greater when compared to some better exchanges like Binance. for problems not being able to withdraw funds, it would be better if you contact the customer service department directly, and yes most people still has a lot of complaining about this exchange
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edisystem
Full Member
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Activity: 588
Merit: 101
Free Crypto in Stake.com Telegram t.me/StakeCasino
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May 22, 2019, 03:58:05 AM |
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Tbh hitbtc is already shaddy since a long time ago, that's why i never use hitbtc exchange again and i'm not surprised with this news.
I heard there are so many scam accusations on hitbtc exchange and if you withdrawal with a big amount, you will be hard to withdrawal.
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vennali
Legendary
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Activity: 2338
Merit: 1081
#SWGT CERTIK Audited
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May 22, 2019, 04:40:04 AM |
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They had a similar issue about an year and a half back when they block withdrawals. They were stuck on processing. It got solved after about a week with no update from Hitbtc. There was also a group on telegram for the same which had about 500 people complaining. It was a relief when they reenabled withdrawals after a week. Took that opportunity to get all my funds off the website and not use the website again. They had it coming a long time.
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LuckyBtc
Legendary
Offline
Activity: 1288
Merit: 1011
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May 22, 2019, 05:24:59 AM |
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I have used HitBTC only once, It gave scammy vibes even back when I used it now even so more. There several exchanges that are better than HitBTC, I don't understand why people use/used it. They list shittiest of the shit coins.
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okala
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May 22, 2019, 05:49:37 AM |
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HitBTC among other exchanges are taking measures to stop scams and hack on they exchange just like what we recently witnessed with binance hack were unknown hackers break into the cold wallet and stealing huge number of bitcoin but with KYC those behind it can be traced.
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Natalim
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May 22, 2019, 07:46:44 AM |
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So this news happens to be more alarming compared to the recent Binance hack?
I won't easily believe that they are going to be insolvent because it was just 2 complaints from their thousands of clients.
I can give my opinion based on my experience, thus far, I never face any problem with hitbtc, I was not required to comply with a KYC or whatsoever.
Been hearing the feedback of the people about this site that it's shady, but I still used it because none of my problem remained unsolved.
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aad140386
Member
Offline
Activity: 420
Merit: 20
simply getting the job done
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May 22, 2019, 08:02:04 AM |
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Unfortunately, everything goes to the fact that on the exchanges terebovaniya to customers will be tightened. It will be necessary to provide more documents and in extreme cases even prove the origin of the funds. I think this will be a trend in the next few years. Many large exchanges want to operate in accordance with the laws of the countries in which they are located. Most likely this can be explained by the pressure of regulators from different countries on the stock exchange.
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Mycro Jobs
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thesmallgod
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August 24, 2019, 08:28:10 PM |
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This is exact reason why some people are in support of DEX platform. How will you decide to wanna hold someone asset just because the deadline for a particular rules has passed. This is very unfair. I have used hitbtc in the past and I didn't have any problem with them but I stop using them due the fact that token trading ratio they use is not good for me. Hitbtc unlike binance doesn't send update to users via e-mail so if you are type that doesn't follows their twitter and other social pages, you may have problem such as this.
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