It is unclear whether registration will be open to retail clients or whether this news only concerns corporate users and experienced traders.
Bittrex is one of the first exchanges to operate on the cryptocurrency market in the United States. Founded in 2013 by three specialists from the Microsoft security department.
The fundamental factors of trust in this site were that the identities of the founders were well known to the public, as well as the fact that they were recognized experts in the field of computer security at that time. The platform, according to the founders, took a responsible approach to fulfilling the legal obligations of KYC and AML.
Bittrex functioned flawlessly until October 2017, when it suddenly disabled several thousand accounts without an official explanation of the reasons for what was happening. It was then that an incident occurred with a Ukrainian exchange user who filed a complaint that the platform blocked his account, to which he transferred about a million dollars to purchase Bitcoin Gold.
In December 2017, Bittrex released an official statement in which it noted that there would no longer be registration of new users, since the volume of applications exceeded the ability of staff to verify the data of each new user. The statement also said that if registration of new users begins in the foreseeable future, one of the requirements of the exchange will be a “minimum trading deposit.” This will be done in order to weed out people who do not understand the principles of trading and are, in fact, random people in the crypto business.
“Bittrex is not intended for retail clients, it is aimed at an audience of more sophisticated or institutional traders.” - the statement was written.
The official website of the exchange also states that from February 9 it is withdrawing three cryptocurrency pairs from trading: BTC-FUN, ETH-FUN and BTC-RISE
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