Bittrex to Halt Crypto Trading Services in 31 Countries
- Traders of the countries will have access to their accounts until October 29.
Crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term Bittrex has decided to terminate its services in 31 countries, citing regulatory uncertainties behind the harsh decision.
Announced on Friday, the countries are 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, and Zimbabwe.
The crypto exchange detailed that it has informed traders based on each of these countries about the termination of trading services via email.
Bittrex has banned all Venezuelan accounts, they are not the first to do so and then others will come. I ask for solidarity and for others to withdraw their funds from this Exchange #Bittrex. I move my funds to a cold wallet. Hoping for a real decentralized ?. $btc $ltc $dgb pic.twitter.com/J4KQtx6zjF
— DigiDave (@ADgc50) October 19, 2019
Pull out funds before the deadline
The services will be shut down on October 29 at 7 pm (UTC), giving the customers no additional window to withdraw their holdings from the exchange.
“You must withdraw your coins/tokens by no later than Tuesday, October 29 by 19:00 UTC/21:00 CEST,” the exchange noted.
However, customers can only withdraw their holdings if the available balance is three times the withdrawal fee charged by the platform.
“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,” Bittrex added.
This decision to cut short the markets came months after Bitrex decided to delist 32 tokens for traders based in the United States, Finance Magnates reported.
Meanwhile, to penetrate the European market, the exchange is gearing up to open a digital asset exchange based in Liechtenstein. However, this will see the closing of its Malta-based subsidiary Bittrex International.
Crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term Bittrex has decided to terminate its services in 31 countries, citing regulatory uncertainties behind the harsh decision.
Announced on Friday, the countries are 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, and Zimbabwe.
The crypto exchange detailed that it has informed traders based on each of these countries about the termination of trading services via email.
Bittrex has banned all Venezuelan accounts, they are not the first to do so and then others will come. I ask for solidarity and for others to withdraw their funds from this Exchange #Bittrex. I move my funds to a cold wallet. Hoping for a real decentralized ?. $btc $ltc $dgb pic.twitter.com/J4KQtx6zjF
— DigiDave (@ADgc50) October 19, 2019
Pull out funds before the deadline
The services will be shut down on October 29 at 7 pm (UTC), giving the customers no additional window to withdraw their holdings from the exchange.
“You must withdraw your coins/tokens by no later than Tuesday, October 29 by 19:00 UTC/21:00 CEST,” the exchange noted.
However, customers can only withdraw their holdings if the available balance is three times the withdrawal fee charged by the platform.
“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,” Bittrex added.
This decision to cut short the markets came months after Bitrex decided to delist 32 tokens for traders based in the United States, Finance Magnates reported.
Meanwhile, to penetrate the European market, the exchange is gearing up to open a digital asset exchange based in Liechtenstein. However, this will see the closing of its Malta-based subsidiary Bittrex International.