Bittrex is ceasing operations in my country

avatar

As if there wasn't enough bad news in my country, I just received an email from Bittrex indicating that there will be no more service and that I should take all my funds out of the exchange.

I had always believed that cryptocurrencies were independent of borders, politics, and banks. But I'm sure this action is no coincidence.

I suppose there is a lot of pressure from the big powers looking for a way to close the operations of the small countries.

What do you think?

Well, I decided to investigate a little more because just receiving an email for me was not enough reason to withdraw all my funds just like that.

So I went to the Bittrex Zendex, which is a site dedicated to the support of all the operations you make in the exchange. It is important to note that one must also register on this platform.

This platform is excellent and very quick to answer any questions.

As usual, they answered me immediately.

And well this is the official information:

Important Information for Bittrex International Customers

On October 18, Bittrex International informed customers who reside in certain countries (see full list below) that they can no longer use the Bittrex International platform due to regulatory uncertainty. All trading and account access for these impacted customers will be halted on Tuesday, October 29 date at 19:00 UTC/21:00 CEST.

List of Countries

  • Afghanistan 
  • Egypt 
  • Bosnia-Herzegowina 
  • Botswana 
  • Cambodia 
  • Central African Republic 
  • Democratic Republic of the Congo 
  • Côte d'Ivoire 
  • Ethiopia 
  • Eritrea 
  • Ghana 
  • Guinea 
  • Guinea-Bissau 
  • Guyana 
  • Iraq 
  • Laos 
  • Lebanon 
  • Libya 
  • Maldives 
  • Pakistan
  • Sri Lanka 
  • Somalia 
  • Sudan 
  • South Sudan 
  • Trinidad and Tobago
  • Tunisia 
  • Uganda 
  • Vanuatu 
  • Venezuela 
  • Yemen
  • Zimbabwe 

Withdraw Coins/Tokens
Please follow these steps in order to withdraw your coins and tokens from Bittrex International. You must withdraw your coins/tokens by no later than Tuesday, October 29 by 19:00 UTC/21:00 CEST.

At this time, you’ll want to withdraw your tokens by logging into https://international.bittrex.com and clicking Holdings. Next, you will need to search for the wallet and click the withdrawal button to open the withdraw dialog. Then, you will be able to withdraw your balance. Please note if your balance is below the minimum withdrawal amount for the wallet, you will not be able to withdraw it. The minimum withdrawal for all coins must be greater than 3 times the fee. For example, your balance in BTC must be .00150001 or greater as the fee is .0005.

Details:

https://bittrex.zendesk.com/hc/en-us/articles/115000198452-How-can-I-withdraw-my-coins-

Customer Support
If you need additional assistance, please reach out to https://support.bittrex.com/.

After logging into support (note: different login/account than Bittrex International), select the “submit a request” button in the top right corner or use live chat to connect with an agent.

So it's true, there won't be any more Bittrex for me.

It really saddens me to miss the opportunity to use this exchange. From my personal point of view, I think it is an excellent exchange and also has a support system of excellent quality. I have no complaints about it u.u

So we have until this date to get all our money out.

Tuesday, October 29 by 19:00 UTC/21:00 CEST



Keep spreading the Steemit love


Thanks for passing by!

writing life stemleo palnet bittrex exchange
0
0
0.000
33 comments
avatar

You post has been manually curated by BDvoter Team! To know more about us please visit our website or join our Discord.

BDvoter Team

0
0
0.000
Reply
avatar

Thank you very much. I will visit your website 😊

0
0
0.000
Reply
avatar
(Edited)

Es normal, Venezuela tiene una reputación pésima gracias a los chavistas. Ser gobernado por bandidos, malandros, narcos y terroristas tiene consecuencias.

I had always believed that cryptocurrencies were independent of borders, politics, and banks

Y así mismo es nada evita que se continuen abriendo wallets para bitcoin, ethereum, etc y hacer transacciones de wallet a wallet, pero Bittrex es una empresa privada, supongo que permitir operaciones en un narco estado puede ser riesgoso para ellos.

0
0
0.000
Reply
avatar

Era de esperarse, que tarde o temprano pasara esto. Sin embargo, hay muchos otros países donde tambien dejará de funcionar, por lo que pienso que hay mas razones detras de esta acción.

///

It was to be expected that sooner or later this would happen. However, there are many other countries where they will also stop working, so I think there are more reasons behind this action.

0
0
0.000
Reply
avatar

Sí, todos esos países también son otras repúblicas bananeras.

0
0
0.000
Reply
avatar

Sad): ... anyway.

0
0
0.000
Reply
avatar

Hello, @mintymile!

Yeah, that sucks! Thanks for passing by

0
0
0.000
Reply
avatar

I know how it feels... coz I faced hurdels with my country being anti-crypto...will tell about it later.

0
0
0.000
Reply
avatar

Es triste y desagradable perder una casa de cambio con la que estabas trabajando bien, pero es la realidad que nos toca vivir, considerando que como empresa no pueden ni quieren involucrarse con los efectos de actuales o potenciales sanciones internacionales contra el actual gobierno de Venezuela.

Siento que cada vez quedamos como que más aislados en cuanto a apoyo para la población que simplemente trata de salir adelante y no hundirse con el desastre, espero que esta percepción sea simplemente producto de mi ligera tendencia a la depresión y no sea algo que se vuelva real.

0
0
0.000
Reply
avatar

Siento que cada vez quedamos como que más aislados...

Así parece.

Pero hay que tener fé y seguir adelante. No hay mal que por bien no venga. Habrá que seguir buscando el queso que nos robaron 😉

///

I feel like we're getting more and more isolated...

So it seems.

But you have to have faith and move on. Every cloud has a silver lining. We'll have to keep looking for the cheese that was stolen from us 😉

0
0
0.000
Reply
avatar

Hello dear @jadams2k18.

It is sad to have to receive news like this, and I think it is not about the company in particular, but what it represents, freedoms are becoming less and less in Venezuela.

I wonder if this continues like this, in the future we will end up with more limitations and maybe we even lose access to the internet?

0
0
0.000
Reply
avatar

Losing the Internet, that would be disastrous. But let's hope that doesn't happen.

0
0
0.000
Reply
avatar

Seriously it's hard to believe how much you country seem to endure lately @jadams2k18

I had always believed that cryptocurrencies were independent of borders, politics, and banks. But I'm sure this action is no coincidence.

Oh, that's a bit to optimistc, don't you think?

Perhaps only decentralized exchanges can be a solution for your citizens?

Yours
Piotr

0
0
0.000
Reply
avatar

Perhaps only decentralized exchanges can be a solution for your citizens?

Let's cheer for decentralized solutions 😄

0
0
0.000
Reply
avatar

@jadams2k18, Your thought about Cryptocurrencies are right but unfortunately it's an Exchange and it will going to play by it's own rules but it's not an issue in my opinion because Cryptocurrency Space have so many opportunities and more to come. Stay blessed.

Posted using Partiko Android

0
0
0.000
Reply
avatar

You're right, they have their own rules, and as our friend @crypto.piotr says, this is where decentralized solutions can prevent this kind of stumbling.

Thanks for coming by my friend 😊

0
0
0.000
Reply
avatar

Greetings dearest friend @jadams2k18

You know? He had read this news in the digital media, but there he attributed these actions to sanctions by the US to the Venezuelan government.

Now with your publication I realized that it is due to decisions made by Bittrex policies.

It is unfortunate that this is happening but definitely the economic policies and the bad reputation of the Venezuelan government have much to do with this decision.

Your friend, Juan

0
0
0.000
Reply
avatar

Hello, my dear friend!

Maybe as @forykw says, they have to do business with companies like VISA, Mastercard, Paypal, etc. For this reason, they have to meet certain requirements to do so. I wouldn't want to go into conspiracy theories, but there is something fishy about all this.

Stay blessed

0
0
0.000
Reply
avatar

It's not so much about requirements (at their level), but more about, the less "potential risks you can point" the more serious investors you will attract. That is usually a easier "pass" to regulators or highly regulated companies.

For one reason VISA has one of the best PCI compliant process that itself it's so expensive to maintain that makes hard for any other competitors to face to margin profits when having to do the same.

I highly hope that things like PCI compliance become blockchain based, which will basically streamline the process and lower the costs of it, making it automatically visible to everyone if someone is being compliant or not. Making it easier for startups to be very risk-free and mature way faster than what they have to face currently if attempting the same game.

Blockchain tech has huge advantages if BIG corporations stop "forking" the work of others just to say, "it's ours" and add the desired %... the tech is here, stop copying it and say it's new, use (and improve) what is already FREE!

0
0
0.000
Reply
avatar

This tells me (two) things...

  • They have clear intentions to do business (profitable one) across the world (even if for now, decreasing their coverage). It's unfortunate for some, but for businesses that deal with these kind of "materials" they need to do little mistakes. Otherwise their businesses can be greatly damaged.
  • Because they also announced going outside Malta to create the "international" web portal, this means they need to comply with many other rules in order to jump into "new" services. Like, for example, creating chains like Binance, or doing businesses with companies like VISA, Mastercard, Paypal, etc.
0
0
0.000
Reply
avatar

Obviously, they want to do profitable business without care about losing customers from small countries. However, most of them are likely to be in these countries. Who do they believe that use cryptocurrencies the most? Or rather, who benefit most from the use of cryptocurrencies, especially where governments whose economic policies are pitiful.

They probably must have made their calculations and determined that the losses would not affect their earnings. If not, poor them.

Thanks for passing by 😊

0
0
0.000
Reply
avatar
(Edited)

No tenía ni la más mínima idea de que Bittrex iba a cerrar operaciones en Venezuela, bue, igual nunca llegué a utilizarla tanto porque no pude retirar fondos debido a la documentación que requerían (cosa que nunca lograron verificar, qué cosas, ¿no?) De todos modos no es una gran cantidad de dinero la que metí allí. Esto de cerrar plataformas por cuestiones regulatorias ya se me está haciendo algo común y no es completamente bueno.

Editado: Para mi sorpresa, fui a ver si se podían retirar los fondos y me conseguí con esto: Screenshot_33.png

Que mala suerte, al parecer.

0
0
0.000
Reply
avatar

Hard to imagine that crypto will not become as accessible as the Internet across borders. Then again, places like China, Cuba and Korea are essentially telenets where users have no input.

0
0
0.000
Reply
avatar

Sorry for being late. It's hard but we'll find the way to access crypto and exchanges too

0
0
0.000
Reply