I haven't really been able to keep as up to date as I would have liked with crypto developments in the last year or so... moving to a new country, and being swamped with family commitments, and then launching and running a music ensemble.... well, all of that means that everything else can take a back seat for a little bit. And that has generally meant that I've not really had the time or desire to follow every last crypto news and launch. Plus, there are now so many scams around these days that I hesitate to investigate each lead... even legitimate accounts and websites get hacked, and I even managed to get scammed once for a small amount after a crypto Discord server got compromised.
Anyway, this little bit of news really did catch me off-guard though... it was an email landing in my inbox saying that my customer relationship with Bittrex had been terminated and that I was limited to withdrawals only. Well, I figured that wasn't really anything that big... I had been ignoring the emails for KYC verification for a while, and I figured that this was the result of that.
So, I figured that I would just look at it when I got home and deal with the annoyance of KYC then. I hadn't really used Bittrex that much in the past few years... it had been one of my early exchanges, but I lost interest in it after I shifted mostly to Binance and DeFi.
So, when I logged into my account... I was greeted with this banner! Huh... really, Bittrex is winding down? One of the older exchanges is calling it a day? I wonder if it is due to financial problems, or if it is more to do with the pretty abysmal regulatory and enforcement atmosphere in the United States. I would hazard a guess that is more the latter... after all, we aren't in the depths of a bear market anymore?
... and it turns out that all trading was suspended a while back as well. I probably should follow this sort of thing a bit more closely. I'm pretty sure that all of this was announced with a fair bit of lead time.
... and my suspicions about my balances on Bittrex were right. Around the time of the FTX collapse, I had tightened up my balances on any exchanges that I felt were at risk... and mostly moving out into non-custodial wallets. It was a pretty haphazard and fast exodus, but it was neccesary at the time. Some of it proved to be good, and other things proved to be a bit hasty as the exchanges turned out okay and their tokens shot up in the last months.
So... just a few dollars were left after that purge, 5 cents in regular USD and a tiny balance in FLO. I remember now that FLO was the only token that I couldn't easily liquidate and/or move when I last visited Bittrex.
... and I guess this was the reason! No other CEXs trading... and non-custodial wallets were a bit sketchy, or unknown at best.
It is sort of sad that Bittrex is down and out for good... it was one of the nicer places but perhaps I'm reliving the past with rose-tinted glasses. Most interestingly it was one of the only CEXs that took in HBD as well!
Ah well... there are still a couple of good old exchanges that I used in the past that are still standing. All of them with fond memories, but some with newer owners that have tarnished their reputations.
I can also be found cross-posting at:
Hive
Steem
Publish0x
Handy Crypto Tools
Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
WooX: The centralised version of WooFi. Stake WOO for fee-free trades and free withdrawals! This link also gives you back 25% of the commission.
GMX.io: Decentralised perpetual futures trading on Arbitrum!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
KuCoin: I still use this exchange to take part in the Spotlight and Burning Drop launches.
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Over regulation killed Bittrex. A significant loss for Hive.
Yes, it was one of the only ones that took HBD!
Yeah, they shuttered a while back, definitely the government's fault. They were the last fiat on/off ramp for US citizens and one of the only listing we had...now it's just Upbit. 😡 Can't say that having no way in or out (other than five steps through HE and at least one other exchange) didn't absolutely squash my faith in the future of the chain.
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Ouch... really, that is one of your last ways on and off?
Am I the only one issued with threats? I can't remove the 17c as it's not enough an yet they want to charge me for leaving it there:
It's not a phishing email either.
I have around 30$ in several tokens and cannot withdraw them as the fees are higher than the balances. But the email I got didn't talk about paying any fees. They also don't give me a deadline to withdraw:
As I said to @bengy, they appear to have different sets of emails. Strange company.
I got that as well... I can only wait for the FLO to be converted to dust.... I guess it just means that they will just take the dust? Not that we incur debt to infinity. That would make no sense!
OK not just me then. Some don't have the threat while others do.
Many simply collapse or are targeted enough to fold, one of the originals was sad to see go this way, it happens.
Yes, sad to see this old one go...
Much happening all the time, some come and go that were good standing, perhaps realize policies are simply too much to adhere to of late.
I had the same sort of experience two weeks ago. Made me realize to keep an eye on what assets O have where. I never have any substantial amounts on exchanges ever, but it’s still annoying. And I also feel a bit nostalgic for this particular one closing down. One of the first I used back a long time ago..
Nice that you thought of sharing the info 👍
I know what you mean... I only had 8 dollars, but I was trying to think of ways to get it off exchange! Ludicrous...
Fortunately I didn't ignore email from Bittrex and it was in time coz as I new then there was some funds. Of course it was a little bit nervous to withdraw them but finally my funds in safety with me
https://ecency.com/hive-167922/@travoved/keep-your-money-in-safety
Ah good that you got everything off!
$PIZZA slices delivered:
@definethedollar(1/20) tipped @bengy
thankfully i had taken all of my funds from there months ago. It's sad though to see one exchange after the other to close or face serious issues, in general my experience with bittrex was quite good.
It was decent enough... but I ended up gravitating to other exchanges and not using Bittrex that much in the end. Hence the missing of the email notice!
which ones are you using? I am currently only using Binance, and looking for good alternatives, not very keen on Coinbase
I'm not a trader, so I only just use whatever exchange that has what I need for that moment... strip the links if you want!
I am using Binance as my main place still... WooX for fee free trading and withdrawals (due to staking WOO exchange tokens), Crypto.com for spending on the debit card, KuCoin and MEXC for poopcoins... and I have gone back to Coinbase and their wallet for their Base layer and all the learn/earn stuff as well as the 5.2 percent on USDC. All over the place...
hahaha i actually bookmarked it! it's always good to have different options as like with Bittrex you never know