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Topic: Bittrex announces minimum trade size raise and other info - page 2. (Read 2971 times)

hero member
Activity: 854
Merit: 658
rgbkey.github.io/pgp.txt
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
I've been eyeing HitBTC but I don't know if others have had problems with them. At first glance they look decent enough.

Hitbtc tend to have most of their wallets disabled, which is frustrating.

I think a better solution is to migrate to one of the decentralised exchanges like Openledger:

https://openledger.io/welcome


Decentralized exchanges are not as decentralized as many believe, One of the down sides of them is the high paying fees are required, Another down side is the lack of volume and also not supporting every coin, They only could operate with ETH tokens.
I agree that they're cool and I'm glad they exist, but they're just not the ebst exchange to use at the moment.
hero member
Activity: 924
Merit: 506
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
I've been eyeing HitBTC but I don't know if others have had problems with them. At first glance they look decent enough.

Hitbtc tend to have most of their wallets disabled, which is frustrating.

I think a better solution is to migrate to one of the decentralised exchanges like Openledger:

https://openledger.io/welcome


Decentralized exchanges are not as decentralized as many believe, One of the down sides of them is the high paying fees are required, Another down side is the lack of volume and also not supporting every coin, They only could operate with ETH tokens.
legendary
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
I've been eyeing HitBTC but I don't know if others have had problems with them. At first glance they look decent enough.

Hitbtc tend to have most of their wallets disabled, which is frustrating.

I think a better solution is to migrate to one of the decentralised exchanges like Openledger:

https://openledger.io/welcome

legendary
Activity: 1400
Merit: 1009
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
I've been eyeing HitBTC but I don't know if others have had problems with them. At first glance they look decent enough.
Hitbtc is pretty decent, but they don't have much volume on few alts. if people start moving there we'll have the volume! i have made few trades and withdrawals, everything worked fine.
legendary
Activity: 1862
Merit: 1004
I have to say I like this part with disabling orders which re 28 plus days old. It ll reduce clogging and also prevent people from using exchanges as wallets, which is also good since it reduces risk.

Most of the stuff Bittrex does is the step in the right direction, besides limiting accounts of people from countries under sanctions. But again, this is politics.
The removal of old orders is fine IMO and to be honest, this is probably the only positive change I can see here.
Bittrex is trying to become better exchange and introduce some "mainstream'' friendly regulation (no pump, remember guys, or we call the police!).
If you are looking for low profile exchange this is no longer place to trade.
hero member
Activity: 910
Merit: 523
100,000 satoshi equal to BTC0.001 or $9.7 at current rates. It's a small amount for traders and will get rid of small transactions by some people who are trying to make their fortune through trading. I agree that you can get decent profit just by relying on the small amount of capital. But, there are too many problems regarding their support, verify account and withdrawal issue. Personally, I won't trade in such shady trading platform especially deposit huge funds into their site, too risky. Surprisingly, bittrex still occupy third place according to global trading volume over 1.3 billion dollars. I prefer to use local exchange in my country or some global trading platforms such as Hitbtc, etherdelta or livecoins.
hero member
Activity: 1064
Merit: 505
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?

They are scammers, of course there is no point. Do not deposit anything in this crap exchange because you wont be able to withdraw it even if you try to verify your account, they will just keep you on hold for weeks. Their twitter account is a joke, they will respond to like 5-6 tickets some days and that's it, they are going to scam like cryptsy very soon. It's pretty clear.
hero member
Activity: 854
Merit: 658
rgbkey.github.io/pgp.txt
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
I've been eyeing HitBTC but I don't know if others have had problems with them. At first glance they look decent enough.
legendary
Activity: 1848
Merit: 1009
Next-Gen Trade Racing Metaverse
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
hero member
Activity: 924
Merit: 506
The only thing I liked about their new policy changes was the fact that they have announced to suspend any pumping groups activity Cheesy Like we don't know that they are the ones getting hundreds of thousands of dollars not only by engaging in these so call pump groups but they are encouraging them, That way they will get more exposure and more fees.
hero member
Activity: 2744
Merit: 541
Campaign Management?"Hhampuz" is the Man
The rise in minimum trade size has more of negative effects on the traders. Small traders might face trouble as the minimum trade size would now be 0.001btc which is quite a lot for small traders. Bittrex might also lose some of its users in this case. Usually the big whales manipulate the coins and fetch on small fishes but if there are no small fishes then the big whales wont be able to fill their tummy. Hence the big traders would leave Bittrex too. I guess many traders will now move to other exchanges.
thats the point how about the small traders,they want to be named as
Number 1 trading site thats why they make that policy but what would be the
Effect of those starter trading that wanted to use their site.better anticipate
Those small traders because they might be the next big player here,those
Aspirants.i hope bittrex would realize soon about the effect of this action
hero member
Activity: 854
Merit: 658
rgbkey.github.io/pgp.txt
Can anyone explain me how minimum trade of 10$ can help them to fight P&D groups? I'm not an experienced trader but it looks like those changes only make this exchange useless for beginners like me  Sad
I'm in the same boat. I used to use it to sell the small amount of altcoins that I've mined, but now it's worthless to me.
full member
Activity: 322
Merit: 103
Can anyone explain me how minimum trade of 10$ can help them to fight P&D groups? I'm not an experienced trader but it looks like those changes only make this exchange useless for beginners like me  Sad
full member
Activity: 250
Merit: 106
Frankly I do not understand why they would be doing so. Bittrex is exploding in term of popularity and volume, it is completely destroying Poloniex and about any concurrent. Why doing so ?
Maybe they prepare their finish?
Luckily they still have concurrents. In any case, I will use bittrex with extreme caution like I do on poloniex and all others.
legendary
Activity: 1120
Merit: 1004
Frankly I do not understand why they would be doing so. Bittrex is exploding in term of popularity and volume, it is completely destroying Poloniex and about any concurrent. Why doing so ?
legendary
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
I laugh everytime I see bittrex announces about new features , they are busy making their site better and that's why they are ignoring thousands of tickets for people that want their money back
none of their changes at the moment make sense , there are many things to work on rather than that
also I don't know how these changes are supposed to be good !!

Exactly, they've become such a shithole right now that i was a previous fan of theirs compared to poloniex and even i would not dare to use them with anything over 0.1 BTC. Just way too much to risk, i'd actually use poloniex right now.

They are very very unclear about the account limits and why some people get downgraded from previously verified accounts and get asked to verify again.

These new changes have not helped a single bit either.

The issue with Bittrex is that they are making changes retrospectively. They're actually amending old terms and condition pages but not changing the date (to pretend that these conditions have been in place since 2016). That is very very shady. Am glad I got my coins out last month - it was obvious something bad was going down.
legendary
Activity: 2380
Merit: 1085
Money often costs too much.
Exactly, they've become such a shithole right now that i was a previous fan of theirs compared to poloniex and even i would not dare to use them with anything over 0.1 BTC. Just way too much to risk, i'd actually use poloniex right now.

They are very very unclear about the account limits and why some people get downgraded from previously verified accounts and get asked to verify again.
At "Polo" you can run into the withdrawal limits, who are recalculated in realtime. So if you withdraw like 90% of your limit (any altcoin) and suddendly that coin jumps +30% you are crossing your 24 hourly limit.
I did not done that, but had been experiencing a bad day where that limits bar bumped really near to my limit.
And you know how it goes if you need to contact their nonexistant support.
People have grown old about that.
hero member
Activity: 588
Merit: 500
I laugh everytime I see bittrex announces about new features , they are busy making their site better and that's why they are ignoring thousands of tickets for people that want their money back
none of their changes at the moment make sense , there are many things to work on rather than that
also I don't know how these changes are supposed to be good !!

Exactly, they've become such a shithole right now that i was a previous fan of theirs compared to poloniex and even i would not dare to use them with anything over 0.1 BTC. Just way too much to risk, i'd actually use poloniex right now.

They are very very unclear about the account limits and why some people get downgraded from previously verified accounts and get asked to verify again.

These new changes have not helped a single bit either.
legendary
Activity: 2380
Merit: 1085
Money often costs too much.
Why are they discouraging any market manipulation? How they will know and how do they trace trader who are involve in these such activities?
This policy will give them two results, as like mention above, they will really lost small traders which will lead on switching on other exchange sites, so they can focus on big traders.
I'm a fan of this exchange because of their support and I didn't get any trouble with regards to verification. But I usually sell my coins only when it reaches my target point.

Why? Because it's shady. How? By naked eyesight, it's actually quite easy to spot a Quatloo tradebot beeing active at Bittrex. "Creating minimum tick sizes" directly targets that practise.
You have seen these orders piling up just 1 Satoshi above your last manually placed order? Next bot placing another +1 Satoshi on top of that?

However "suspend and close any accounts" sounds like suicide, I am assuming they are not doing this decision without any applied pressure from the legals. Between Poloniex, Kraken and Bittrex they could have taken the pole position with ease.
sr. member
Activity: 868
Merit: 259
Quote
This email is to communicate policy changes for placing orders on Bittrex.  As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
 
Removing stale orders:  Effective today, Bittrex will be removing orders that are older than 28 days.  As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
 
Raising the minimum trade size:  Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi.  We will also require a minimum trade quantity on a per market basis.
 
Creating minimum tick sizes: Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market.  The target is to have minimum trade sizes that are near 0.1% of the current price.  The current minimum tick size is 1 Satoshi.  For example, Ethereum trades at 0.0577 Bitcoin.  Bids and asks can only be placed in 0.0001 increments.  So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
 
A general statement about market manipulation tactics:  Bittrex actively discourages any type of market manipulation, including pump groups.  Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.   
 
For more details around these policy changes, see this article.  https://support.bittrex.com/hc/en-us/articles/115003004171
 
Thank you,
 
Bill Shihara
Chief Executive Officer

Personally, I've been debating moving away from bittrex before but this is the final nail in the coffin. Their restrictive verification requirements and new $8 minimum trade size I'm not a fan of. I'll be moving to a less restrictive exchange.

From my perspective, it should be given a chance. If their changes can make their markets more liquid, more professionally run and make it better and easier for us to trade, then why not?
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