Understand that most exchanges have minimum limit of withdrawal.
You're missing the point. Bittrex wants to charge users $20 per month per dust asset they have left on their account, even though they can't withdraw it.
Are the 50 cents in assets really worth it?
OP doesn't want to pay $20 per month.
Just imagine someone taking out a cup of sand they safekept from your store. They wanted it delivered to their house which is 20 miles away. Obviously, the gas prices aren't cheap, so are you going to do this service for them anyway? There are operating costs to every service, and if you think 50 cents is much more valuable to get compared to the fee that you are about to incur, then you may have a few screws loose in your head.
Now imagine they charge you $20 per month for keeping the few grains of sand that fell off your shoes, even though you can't get back your grains of sand.
50 cents is just too small, you can forget about it. It is not enough to pay for withdrawal fee if I am right, on all centralized exchanges, not only Bittrex.
Bittrex announced their service closure months ago and I am so surprising to see you only want to withdraw your money from Bittrex now.
OP doesn't care about the $0.50 at all.
Why would you withdraw that small amount?
To avoid being charged $20 per month!
Get a job, that's the best way to do if you want to earn $0.5, even you live in third world country, I believe you can earn that by just working for one day.
So, if he has to work a day to earn $0.50, how many days per month does he need to work to pay $20 per month? 40 days?
You can sue Bittrex if you want.
You watch too many movies. That's not something the average consumer can easily do.
That's a completely different website. How can 75% of the posts in Trading Discussion be so useless?
This looks funny to me. Like you mean you want to withdraw 50 cents from your account. How do you intend to do that? I have never seen where someone withdraw 50 cent from their account. It is not even possible and you will have to understand that. 50 cent is not even up to a dollar so what do you intend to do with 50 cent because it have not value to me. Funds less than a dollar can be very difficult to withdraw from exchanges even on your own wallet. Maybe you can fund it then try to withdraw everything added to it.
You must create those long BS posts for your BS signature, right?
Is it worth it? Do you really want to withdraw 50 cents from there? Unless you add more funds to it, you can not withdraw due to the minimum amount requirement. It is better to just keep it there and move on with life. 50 cents is not a big deal mate. You can buy the same thing in other exchanges which will not require a $20 fee.
Sometimes it is better to let go of something than to keep on holding it.
You must create those long BS posts for your BS signature, right?
The number of people that responds without understanding what it's about is too damn high!Thats exactly my point. So ... what to do ? I dont wanna pay them 20 bucks to get 50 cents back.
Is that even legal?
Not where I'm living!
A month earlier, they sent me this:
Your client relationship with Bittrex Global has now been terminated and all activity on the platform – except the ability to withdraw – has been disabled.
Based on our records, as of today your Bittrex Global account holds an estimated value of $0.00
Last week, they sent me this:
Based on our records, as of today your Bittrex Global account holds an estimated value of $0.00.
~
As of today, 4 January 2024, default fees will be charged automatically on your account, in accordance with applicable laws. The amount will be determined based on costs incurred by Bittrex Global in maintaining assets in default on the platform and will be reviewed every six months. Initial fees, which will be incurred from today, will be set at a rate of 1% per asset per month, with a minimum charge of up to $20 per asset per month.
Now which one is it Bittrex? It sounds like they noticed I "own" a fraction of a cent on several assets and now want several times $20 per month from me, even though they terminated my client relationship a month earlier.
The problem here is that Bittrex threatened to charge 20 USD per month if users don't withdraw their assets.
It's even worse than that: they charge 20 USD
per asset per month, and they even sent that email if you hold $0.00 in assets. That sounds very much like a scam, and knowing how the internet works it could lead to legal threats later on, which makes some people pay for the extortion.
If this isn't the strongest argument against KYC, I don't know what is!From their FAQ:
I only hold small balances in my account; will the default fees take my account into the negative?
For customers that hold an asset balance that is less than the minimum fee, the whole balance will be taken, and no additional amount will be charged thereafter. We will not take your account into a negative balance by charging fees.
You forgot to add the source:
https://bittrexglobal.zendesk.com/hc/en-us/articles/15887272734877-Questions-and-Answers-for-Bittrex-Global-GmbH-Liechtenstein-Customers (
archived)
But that also shows:
The information below applies only to customers of Bittrex Global, GmbH (Liechtenstein). It does not apply to customers of Bittrex Global (Bermuda) Ltd.
And it doesn't show if you're part of "Liechtenstein" or "Bermuda". How convenient to use "Bittrex Global" for everything.
The same page also shows:
I only have a small balance in my account; why do you keep emailing me?
We were required by law to notify all Liechtenstein customers whose accounts held any balance that those accounts went into default on 4 January, even if that balance was not withdrawable. From now on we will only be contacting customers with a withdrawable balance to encourage them to withdraw those funds from the platform.
This implies you're under "Lichtenstein" if you received that email, and should mean they stop bugging your mailbox from now on.
It sounds like BS to me though: if the account can't go into the negative, the customer can't be in default.
