Would you still do business with them?

[GreatArkansas]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.
(.....)

I remember before when I just starting to explore cryptocurrency, Bittrex is one of the many exchanges I am using, it's just sad to hear this.
For me, it's all good as long as they are transparent to their customers and all funds are still accessible and users can still withdraw them. This is somehow difference on what happened on FTX Exchange.

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[Yatsan]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.
(.....)

I remember before when I just starting to explore cryptocurrency, Bittrex is one of the many exchanges I am using, it's just sad to hear this.
For me, it's all good as long as they are transparent to their customers and all funds are still accessible and users can still withdraw them. This is somehow difference on what happened on FTX Exchange.

Definitely a case to case basis. Not all exchanger bankruptcy means abandonment of their users, some are still minding of how would they be able to return the funds to their consumers. But since it is asked whether to still patronize an exchanger which is from bankruptcy, I'd day it depends on how it ended with regards to their previous dilemma. If they managed to not leave their users then there'd a tendncy that they will come back stronger. But if they created a bad impression already, then it will not be worth of our time and money. This is not to be discriminativr but just putting a sense of safeguarding our funds. Never settle for less if you have better options in this industry.

[hannahB4]

I haven't been in business with them before now because I trade using Binance, but normally I won't trade with them if they come back to the limelight only I was interested in a coin later and it is only traded with them.

[Oilacris]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.
(.....)

I remember before when I just starting to explore cryptocurrency, Bittrex is one of the many exchanges I am using, it's just sad to hear this.
For me, it's all good as long as they are transparent to their customers and all funds are still accessible and users can still withdraw them. This is somehow difference on what happened on FTX Exchange.

Definitely a case to case basis. Not all exchanger bankruptcy means abandonment of their users, some are still minding of how would they be able to return the funds to their consumers. But since it is asked whether to still patronize an exchanger which is from bankruptcy, I'd day it depends on how it ended with regards to their previous dilemma. If they managed to not leave their users then there'd a tendncy that they will come back stronger. But if they created a bad impression already, then it will not be worth of our time and money. This is not to be discriminativr but just putting a sense of safeguarding our funds. Never settle for less if you have better options in this industry.

Lets say out of 100% then i would definitely be sure that 98% would really be just walked away and find out for another company or platform on which they could entrust their funds or money on.

Not to really have that discriminative kind of approach or conclusion of things but peoples mindset and behavior or the reaction would really be most like be in lined on what i have said earlier.
Once trust is broken then it cant really be taken back no matter how hard they would try on getting those trust once again but still it cant really be ever be the same which lets just
face up the reality. There might be those solid supporters or users who would really be looking back and giving out the chance but sooner or later they would really be still announcing on closing
down their doors just because they arent really that getting much users or simply not that sustainable at all.

Companies and trends do really come and go and for those who do fall down into the path of being hacked or bankrupted or does have some serious issues in the past will really be
remaining that kind of taint forever and not something that could be forgotten which we know that trust is mainly been affected on here.

[serjent05]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.
(.....)

I remember before when I just starting to explore cryptocurrency, Bittrex is one of the many exchanges I am using, it's just sad to hear this.
For me, it's all good as long as they are transparent to their customers and all funds are still accessible and users can still withdraw them. This is somehow difference on what happened on FTX Exchange.

I also see how Bittrex first introduced its service.  I think I am one of the pioneer users of that exchange until I shifted to another exchange.  It is really sad to hear that Bittrex is shutting down.  I wouldn't compare Bittrex to FTX because Bittrex had been honest to their client unlike FTX where they siphon the fund of their user through backdoor.  Aside from that they were not involved in any scandalous activity until they declared their bankruptcy.

[South Park]

On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.

In April, Bittrex told its U.S. customers to withdraw their funds by Apr. 30, when the company shut down its operations, according to its website. For customers who didn’t withdraw by the end of last month, Bittrex said on Apr. 8 that their funds "remain safe and secure” and that its top priority is to ensure that they are made whole.

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

. https://www.thestreet.com/investing/cryptocurrency/big-crypto-exchange-goes-bankrupt#:~:text=Besides%20FTX%2C%20platforms%20Celsius%20Network,BlockFi%20went%20bankrupt%20in%202022.

I have not used bittrex before, however there is a big difference between a disorganized bankruptcy, like the one the FTX exchange went through, and one were the business in question sees that things are not going in the right direction and they let their customers know beforehand what is going on, in this case I think bittrex has shown that they do care about their customers, and the owners behind it have earned enough good will that I think its global exchange will still remain in business for a long time.

[The Cryptovator]

While we can't completely disregard centralized exchanges, it is advisable not to store significant funds on them. Due to liquidity concerns and the wider availability of trading pairs, centralized exchanges offer easier trading options. However, for security purposes, it is always preferable to utilize decentralized exchanges (DEX). Personally, I continue to use Binance for trading purposes, but I refrain from storing large amounts of funds there. In the past, I used Bittrex as my initial centralized exchange, and it's disheartening to hear about their potential bankruptcy filing.

[Fiatless]

On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.

What Bittrex did was the standard practice of businesses. It shows that they are not interested in scamming any of its customers. The bankruptcy of FTX and other exchanges wouldn't have affected the crypto space negatively if customers funds were refunded. Bankman-Fried wouldn't have been facing any criminal charges if FTX did what Bittrex did.

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot deny the fact that they still play an important role in the crypto community.

Although the exchange collapsed, Bittrex's management proved that they are dependable. If I was their customer I will still use thier service if they came back to business. They have proved without a doubt that customers' funds are safe. But we should also take more that exchanges cannot be trusted.

[Silver005]

It's very important to inform everyone on the platform concerning that,if really there is an which may occur and will result of course damage to the people 's money,or in kind of relocation,in order to retain you KYC,is to pass information across the page to enable them to participate in the relocation.

[LogitechMouse]

On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.

This is the first centralized exchange that I've used back when I'm just starting to learn cryptocurrency. Been used Bittrex as well for spot trading when I was a newbie.
It's kind of sad for me (a little bit) to see a centralized exchange going bankrupt, but that's pretty normal already knowing what happened last year where so many exchanges filed for it as well.

What's good is that, they still informed their customers to withdraw their money unlike what other exchanges who filed bankruptcy did where they didn't inform their customers whatsoever. I don't know if there's a reason behind this, or maybe we might see them back into business anytime soon, and they don't want to destroy their reputation thus, they did this.

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

In this situation, NO.

With the emergence of Binance, I think that I will stay in using Binance, and only Binance. I'm not a fan of storing coins in CEX, but Binance has many features already that is very helpful to the user of their application. Like you said, CEX in general play a big role in the community especially in terms of buying, and selling, and earning passively (thru their Earn feature). As for Bittrex, I will not be surprised if they will come back to business in the future, but I don't know if they will be having that much customers still because some Bittrex users might switch to a different CEX, and when they are comfortable using it, they might stick with it.

[AmoreJaz]

On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.

What Bittrex did was the standard practice of businesses. It shows that they are not interested in scamming any of its customers. The bankruptcy of FTX and other exchanges wouldn't have affected the crypto space negatively if customers funds were refunded. Bankman-Fried wouldn't have been facing any criminal charges if FTX did what Bittrex did.

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot deny the fact that they still play an important role in the crypto community.

Although the exchange collapsed, Bittrex's management proved that they are dependable. If I was their customer I will still use thier service if they came back to business. They have proved without a doubt that customers' funds are safe. But we should also take more that exchanges cannot be trusted.

that's very correct! they didn't go into hiding but rather let their customers get their funds before their closure. actually, that should be the practice of every business who wants to get out of their business. sadly, not many would do such move. usually, you would just hear the news when they suddenly freeze your account or won't let you withdraw.
if in case they will go back to this business, i may use it if necessary as they show the professionalism on this regard.

[Texac]

Bittrex US declare its bankruptcy due to unfriendly sentiment within the country and mainly because of the SEC complaint[1]. On the other hand, FTX, Celsius, Voyager Digital, and other things you mentioned are simply bankrupt due to mismanagement of funds and subpar risk management.

Those two cases are on another level, besides, as other have mentioned, Bittrex Global are still operating. With that said, Bittrex might still doing fine while the others should be avoided if they even dare to reopen.

[1] https://www.sec.gov/news/press-release/2023-78

Exactly only Bittrex US declared bankruptcy for the reason you mentioned, Bittrex Global is still operating normally.  but it seems many people are unaware of this news and are discussing it negatively. I am not on the side of centralized exchanges, but we need to verify information carefully before it spreads.  this is a negative news that affects the reputation of Bittrex while they are still operating normally in other countries except the US.

[panganib999]

I don’t know if it’s just me but as long as it doesn’t involve good old SBF, I’m willing to bet my trust. Bittrex’s file for bankruptcy isn’t done for some evil ulterior motive, it was done to save face and offer the best form of exit service to its customers, even if they really couldn’t put money in their treasury anymore. This just means that in my book, bittrex is one of the most thoughtful and customer-centric crypto exchange out there, in an industry that is so relentless against the average joe because of anonymity and numbers scenario (the fact that we beyond this forum we’re merely numbers and statistical data). So if ever bittrex bounces back up and decides to still offer services in the future? I’ll take the pill and trade with them.

[Faisal2202]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

That depends on the reason, which got that exchange to shut down its operations in that country. Most of the time, it's due to laws and regulations and if those stopped exchanges come back into operation then it's mean either they have accepted the laws and regulations or L&R are changed according to the needs of them.

If one exchange is being penalized for scamming and even after that it becomes functional then i might not trust it again and will avoid using it for financial activities.

If the exchange halted there operations in a state or country due to L&R and become functional after that, then i might trust them and will not avoid making transactional activities. Such as Binance has halted their services for Canadians due to CSV's L&R, and if it gets back into function then Canadians are definitely going to use it again.

[irhact]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

It isn't every exchange that shutdown that customers will lose their money, some of them will want to keep their reputation intact so they won't just showdown without warning their customers to withdraw their money. Exchange can shutdown for different reasons which one of them could be due to pressure from the government, and this looks like one.

I won't mind doing business with bittrex exchange in the future if they reopen but I won't store my coins on an exchange or any centralized sites. There's so many reasons things can go wrong. For the fact nothing went wrong in this case doesn't mean exchanges are good storing of coins.

[CryptoHeadlineNews]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

I see no reason why if you are not a trader and just an ordinary person who just wishes to hold his/her Bitcoin to leave it on a centralized exchange, and moreover an exchange that have once given a red flag of bankruptcy, because for the fact that they did informed it's traders to withdraw their funds within a certain period of time shows that they never meant to scam anybody nor run away with anybody's fund. So if they happen to come back and can prove themselves to be trustworthy, I will give it a second try but with caution.

[Blitzboy]

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

I see no reason why if you are not a trader and just an ordinary person who just wishes to hold his/her Bitcoin to leave it on a centralized exchange, and moreover an exchange that have once given a red flag of bankruptcy, because for the fact that they did informed it's traders to withdraw their funds within a certain period of time shows that they never meant to scam anybody nor run away with anybody's fund. So if they happen to come back and can prove themselves to be trustworthy, I will give it a second try but with caution.

Embracing an exchange that's danced with bankruptcy - its either impressive faith or... a high-stakes gamble, eh? Your confidence hinges on the assumption that they offered a lifeline for fund withdrawal, signaling no con game. But lets hit pause. These entities filed for bankruptcy once. Isn't that a glaring sign of operational blunders or market stress they flunked? Yes, centralized exchanges grease the wheels of liquidity. But arent cryptos about breaking free from central control? Feels like déjà vu trusting the big guys, doesnt it? And future bankruptcy boogeymen? Ready for another mad rush, another heart-pounder? Recall, history can repeat itself. Pining for centralized exchanges is natural, but maybe caution's the real hero here.

[laurenB7742]

But lets hit pause. These entities filed for bankruptcy once. Isn't that a glaring sign of operational blunders or market stress they flunked?

Did you find out about the information OP mentioned? Bittrex announced to close its branch in the US market due to legal problems with the SEC, the two sides could not reach an agreement, and Bittrex globally is still operating normally. So don't always blame them without finding out what's going on. Are you using centralized exchanges?

Yes, centralized exchanges grease the wheels of liquidity.  But arent cryptos about breaking free from central control?

Do you really think cryptocurrencies were created to keep us free and free from the central government? Apart from bitcoin created to give us financial freedom, the rest of the market is the financial market. We are here for profit, not looking for freedom or decentralization. Do you see any project that offers decentralization like bitcoin?

[kotajikikox]

On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.

In April, Bittrex told its U.S. customers to withdraw their funds by Apr. 30, when the company shut down its operations, according to its website. For customers who didn’t withdraw by the end of last month, Bittrex said on Apr. 8 that their funds "remain safe and secure” and that its top priority is to ensure that they are made whole.

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

. https://www.thestreet.com/investing/cryptocurrency/big-crypto-exchange-goes-bankrupt#:~:text=Besides%20FTX%2C%20platforms%20Celsius%20Network,BlockFi%20went%20bankrupt%20in%202022.

Never used Bittrex since day one because it has a high fees compared to other exchange that I am using , so asking me if I will still do business? nope and never .
and filing for bankruptcy ? does this mean Binance will be sooner the biggest crypto exchange we will ever use?

[Smack That Ace]

On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.

In April, Bittrex told its U.S. customers to withdraw their funds by Apr. 30, when the company shut down its operations, according to its website. For customers who didn’t withdraw by the end of last month, Bittrex said on Apr. 8 that their funds "remain safe and secure” and that its top priority is to ensure that they are made whole.

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

. https://www.thestreet.com/investing/cryptocurrency/big-crypto-exchange-goes-bankrupt#:~:text=Besides%20FTX%2C%20platforms%20Celsius%20Network,BlockFi%20went%20bankrupt%20in%202022.

Never used Bittrex since day one because it has a high fees compared to other exchange that I am using , so asking me if I will still do business? nope and never .
and filing for bankruptcy ? does this mean Binance will be sooner the biggest crypto exchange we will ever use?

I've also never used Bittrex before, even though I know it's an exchange that predates Binance. But I think OP's question isn't just about Bittrex filing for bankruptcy, what he's asking is an exchange declaring bankruptcy, and if they come back, are you confident enough to keep using them?

I think it depends. If it were FTX, I would never do business with them, even if they pay investors and go online again. But in the case of Bittrex, it will be very different because they have notified us in advance to withdraw the assets. They have no intention of scamming us so there is no reason to reject them if they are online again.