It is very sad the Bittrex Global will close shop this month of December because it could not keep up with US regulations
Well, after Bittrex US went down, the Bittrex Global which caters for international customers is now closing shop because of its financial struggles maybe following the closing of Bittrex US where the big USA customers were trading couldn't use anymore and it effectively lowered the revenue of Bittrex. I said that because the volume of trades had just reduced to a trickle to none which is why Bittrex Global's wallets for customers went on to a supposed "wallet maintenance" apart from being unable to withdraw from for many months and then opening-up after there are no more volume for that cryptocurrency which will force you to liquidate them for a loss because the withdrawal again cannot be done as they had closed it. That is what I had experienced with Bittrex Global although I really like the crypto-exchange platform for the reason that it is easy to use where I can trade my STEEM and SBD tokens before. They also gave this trade credits which you earn for trading cryptos and use it to reduce the fees on trades which is awesome as it actually saves you money in the process. Aside from trading your cryptos over there, they also have the option for you to stake some coins like ADA although of course you have to deposit a considerable amount of Cardano (ADA) tokens for you to earn some substantial passive income from it just like from any other crypto with a staking feature or function.
The lack of US customers and being unable to keep-up with USA regulatory pressures just squeezed Bittrex to the brink of close and now it really will close shop where depositing, trades, staking, and finally withdrawals will not be allowed anymore. Bittrex said that after December 4th-5th this following month which is about 11 days from now. After the halting, they will only allow withdrawals until they finally close after maybe a few more days or so. The US regulators just killed Bittrex effectively for the reason that Bittrex was cut with the majority of its users mainly coming from USA as I mentioned. That is why it failed to maybe get and pay for lawyers and the big fines and fees associated for depending their case to the justice system of America.
CZ of Binance had tried so hard for a long time and almost got away with it to allow USA customers to use its platform because he said that most of the volume of money is coming from the US. That is a good example on why Bittrex had dried-up to reach a point of closing shop because they couldn't get USA customers anymore. If that wouldn't be the case, then Bittrex will just continue to thrive. However the tides had turned against Bittrex because no matter how it tried to be legal in the sight of US regulators, it really couldn't because of the fators that I already mentioned. Their USA customers of course went to Binance which is the largest crypto exchange I bet and thus making it able to earn more revenues in the process to the point that Binance can even afford multi-billion dollar fines easy.
As for Bittrex, I am sure that it will be dead for good and I am really upset about it because I had used that exchange ever since I was earning from STEEM as a writer, it is just later on I signed-up for Binance because Binance has a good history of being "legitimate" like not running with your money, its size compared to the rest of other cryptocurrency exchanges and its robust security to prevent hacks of many types. I always assume that hacks are also perpetrated by the owners themselves although there are instances that a real hack is done not by a single entity but a state-sponsored effort to steal cryptos from certain targeted exchanges which actually happened in the past. Now with the extra market for BTC and STEEM out of the action, I am now solely relying on STEEM's native built-in market to sell my SBD in particular. Other exchanges where I can buy and sell SBD has a very low liquidity if not really hard to signup with because the exchange only serves south Korean customers. That is why the loss of Bittrex US and Bittrex Global has a big impact on me because of its particular service that I needed for my specific crypto trades as I have said already.
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