Bittrex shutting down exchange operation and trading in 31 countries. The announcement was made on October 18 that deposits and withdraws will be permanently at the end of this month. The once popular cryptocurrency exchange cited uncertainty of regulations as the primary reason behind the closure.
Bittrex, founder in Seattle, Washington by Bill Shihara and two business partners in 2013 was one of the first crypto trading platforms that allow users to trade Bitcoins and a number of altcoins. The 31 markets Bittrex shutting down services will not affect the company much because they had very little presence there. Venezuelans were the biggest crypto traders affected.
Bittrex Crypto Withdrawal / Transfer Deadline
According to the official announcement, international crypto traders retain access to their accounts where they can withdraw their deposits until October 29, 2029 at 3pm Eastern Standard Time zone.
In order to withdraw, customers need to have higher than or equal the balance of the withdrawal limit to be able transfer their crypto coins. All tokens and coins are under the rules. 0.00150001 worth of Bitcoin is required to perform withdrawal.
Countries Bittrex Shutting Down Services
Bittrex shutting down operation and services in the follow countries:
Afghanistan, Egypt, Bosnia-Herzegowina, Botswana, Cambodia, Central African Republic, Democratic Republic of 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.
Bittrex Downsizing or in Trouble
Users must generate a wallet address for each of the cryptocurrency coin they want to withdraw. Bittrex has posted a very detail how-to guide for users to follow in order to make the process goes smoothly.
Is this a sign Bittrex is in trouble? In June Bittrex de-listed 42 crypto coins and tokens from the exchange for US-based traders.
Are you one of those customers affected by Bittrex’s exchange shutdown? If so, please let us know how on the comment below.
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.