Don't Use Bittrex if you care about your investment, we experienced bad things there

in #crypto6 years ago

Hi Steemians, Have a great day. I write this post as I have seen lots of people experiencing a disaster in crypto market, not a simple, frequently happening mistake, but a huge paralyzing catastrophe. more than millions of dollars are engaged in this and they can't do much. let me explain it:

As you know, Bittrex, is (at least we someday thought it is) one of the most famous and reliable exchanges in crypto market. I myself do use it for good. But it all started from 6 months ago, when I started to hear accounts of many people are being disabled automatically with no reason, in a way that they can't trade or withdraw their money. their capitals are blocked in their accounts and they can't reach it.


consider your money blocked in an exchange for 6 months in such a volatile market. and guess the percentages you can lose everyday, in which you have no control because you can't control your account.


I started to reach those people whose accounts are disabled and lost money so that I can estimate the amount of money bittrex blocked for no reason. now I am following channels in social medias like telegram in which there are more than thousands of people discussing the solution or following their support tickets trying to get their money back... strange enough, that there is not a single member whose account is enabled, no one succeeded.
an estimation says the amount of money is nearly several millions of dollars (in the big disaster in the chinese exchange hacking, people lost about 300 million dollars). but its significant budget for families and those who worked hard to earn it.

there are telegram groups like: https://t.me/joinchat/BjmOlA2Ir-_l5XhBATHoTg in which this problem is being discussed.


also there are news websites covering this like these pages:
"cryptocoinmastery" - BitTrex Responds to Complaints About Disabled Accounts
"themerkle" - Bittrex Locks, Freezes Withdrawals for Thousands
"coinvigilance" - Bittrex Account Closures – The Exchange Getting Unreliable
"bestbitcoinexchange" - Bittrex.com Review – Scam or Not?
"cryptocrimson" - Bittrex Allegedly Disabling High-Value Accounts Without Notice

a simple search in google brings up the hatred of people from bittrex with pictures edited shouting why they accounts have been disabled, some examples are as below:

making my writing short, take care of your money,
Try to keep your money in hard/paper wallets
if you can't, keep them in your personal wallets
if you can't, dont keep your money in bittrex (its the least you can do)

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Well, I guess there are bad user experiences with every exchange?
So far I only had good ones with Bittrex, and it´s the only exchange with working withdrawal for STEEM - so there is no other option at the moment.

yeah but for trading and keeping your money for a certain period of time? no way, ultimate risk

Of course, but I wouldn't hold crypto in any exchange anyway

I actually tried signing up for Bittrex last night. They currently are not allowing new members. lucky me i guess!

yes exactly, consider all the risks before using bittrex.
its serious

What are the risks?

I feel like you should be able to get your funds/assets at some point. But yeah that stinks.

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