Three weeks ago I wrote to you about my Bittrex hostage situation.
It seems my account records didn’t match public records and I had to upgrade to an enhanced account. Despite complying, my account was frozen. It felt like my funds were being held hostage.
The article garnered quite a response with over 100 replies. Many of you were in the same situation. Today I have an update.
Thankfully it’s a good one.
After 6 weeks without being able to move my funds I finally got an email from Bittrex. See the picture below.
Yea! My account was approved.
I guess eventually some things go right.
The lesson here is to be wary of how much crypto you hold on centralized exchanges. You can never tell when your account might be “frozen.”
We may see the same thing with Poloniex. They recently announced legacy users would now have to verify their identity.
I don’t know about mine yet, haven’t checked the account. But I’m not worried as I learned my lesson with Bittrex and hold very little crypto there.
What about you, any problem with the exchanges?
Now I trade on Binance, that's my referral link.
Bittrex working slow but at least they work it out and gave you a solution... This is why we NEED a descentralized exchange, or no exchanges at all...
Agreed, w some of the swap protocols you don't even need an exchange.
everyone should always use different exchanges, I myself are using 7 different exchanges. anyway glad that you got your account approved.
You got a 2.04% upvote from @postpromoter courtesy of @g-dubs!
I have a friend that's also being held hostage by bittrex. Ever since they added the enhanced verification requirement, he has been stuck. He tries to verify but they reject it every time with no response.
I was able to submit my docs via the platform. If they got rejected I would try submitting the same docs via the customer support email and explaining the situation. Also, use multiple exchanges.
ps - i got my first SmartRewards on Christmas!
nice information tnx for share
Thanks!
Yes i agree with you,thats good information. Thanks for your poat brother
Cheers!
Nice post
Thanks!
How are you finding binance? What are your thoughts about it?
Very happy with Binance, no problems so far.
You have to have some BNB in your wallet to get the BNB discount.
The one issue I have is the "token dust." The little bits of different tokens you can't sell. You should be able to sweep that to BNB for free imo.
Wow, let me try to register with your link
how much were you keeping there? I supposed they get itchy with bigger numbers as for me, I only have a couple of bucks there so i never had any problems with bittrex but seeing things going in that direction with poloniex I think Binance is going to be a major force in my life...
I would like to ask you if you have any experience transferring coins into usd/euro and if I can send "money" to a bank account?
I know Wirex does a similar thing and with a virtual credit card, which is awesome but I never tried it...
It was over 10k.
Now I can move 100 BTC per day, lol that's just $13 million.
I've mostly stayed in crypto but have tested out going back to usd on Coinbase, GDAX, Gemini, and Abra w no problems.
lol 100 btc they still working with the rules back when btc was a few dollars lol
I know gemini asks for identification...So i can just put the credit card number and click send with no identification etc?
Try coinmama or bitpanda... depends where ur located
Thank you! I will keep it in mind
Nice post. upvote resteem done.
Thanks!
How hard is enhanced verification? I need to get some cash out of bittrex but don’t want to risk losing control of personal information ssn, passport photos, etc.
It's not that hard, front and back of drivers license and proof of residency.
Thanks!
Found myself in the same situation a while back... resteemed good sir! Glad everything turned out all right!
Me too!
Thanks!
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Thanks for your good info @g-dubs
Good to hear. I guess you could call it forced HODLing and luckily this time it would have worked out well for you.
Lol, it does make the case for sitting on your hands.
I like to keep core holdings offline, that helps too.
great news
happy for you
That's wild! I couldn't imagine not being able to move active funds. I am broke, so I haven't got money in the exchange, but if I did I would have been flustered!
I'm glad you managed to regain access!
Keep Steeming Folks!
A crazy ride indeed, glad it's over. Keep those cryptos off the exchanges!
Cheers!
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a new account opened, how long does it take for these guys to set it up? There is a memo stating a new account cannot be opened.