Bittrex announced Oct 18 that its Europe-based international trading platform is withdrawing services from 31 countries by the end of this month. The cryptocurrency exchange cited regulatory uncertainty as being the main reason behind the move.
However, it appears that Bittrex, originally based out of Seattle, Washington, has little to no presence in the vast majority of the markets affected by this seemingly large-scale withdrawal — barring perhaps Venezuela and a couple of other countries.
Affected Bittrex Users Receive Deadline
Per the official announcement, traders using Bittrex International will lose all access to their accounts on Oct 29, starting at 19:00 UTC/21:00 CEST. The affected customers have until that then to withdraw their deposits. Customers must have a balance equal or higher than the minimus withdrawal limit to be able to retrieve their stash. That means users must have at least thrice the amount in their accounts as the withdrawal fee. This rule applies to all coins and tokens.
The current withdrawal fee on Bittrex International is 0.0005 BTC and therefore, to be able to withdraw, users must have deposits worth at least .00150001 BTC.
Users based in the following countries are affected by the move:
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.
Downsizing Services
Before getting started with the withdrawal process, customers must generate an address using the same wallet where they would like to retrieve their deposits. Bittrex has posted a detailed how-to guide to help customers understand the process.
Worth noting here is that earlier this June, Bittrex had significantly downsized its trading options for US-based traders on the platform by delisting 42 coins and tokens, as earlier reported by BeInCrypto.
Are you are among those affected by this large-scale withdrawal by Bittrex International? If you are, let us know in the comments below how it impacts you personally.
Images are courtesy of Shutterstock.
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Shilpa Lama
Shilpa is a freelance tech writer and journalist who is deeply passionate about artificial intelligence and pro-freedom technologies such as distributed ledgers and cryptocurrencies.
She has been covering the blockchain industry since 2017. Before her ongoing stint in tech media, Shilpa was lending her skills to government-backed fintech endeavors in Bahrain and a leading US-based non-profit dedicated to supporting open-source software projects.
In her current role, she focuses on...
Shilpa is a freelance tech writer and journalist who is deeply passionate about artificial intelligence and pro-freedom technologies such as distributed ledgers and cryptocurrencies.
She has been covering the blockchain industry since 2017. Before her ongoing stint in tech media, Shilpa was lending her skills to government-backed fintech endeavors in Bahrain and a leading US-based non-profit dedicated to supporting open-source software projects.
In her current role, she focuses on...
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