Scam.
They will let one buy at 0.00051 and after that kicks the minimum in.
Comming back to bittrex was a really bad idea.
Looks like the whole scene is growing more an more rotten.
Topic: Bittrex announces minimum trade size raise and other info (Read 2971 times)
This is my second message to bittrex:
Ok, now things are getting expense for me, I realize that Bittrex now have a minimum buy limit to spend btc on, that is 0.001 and minimum number of coins to buy, in case of ZCL is 1.75.
Do you really need to put a minimum of coins per coin to buy?
I was trying to buy 0.001 btc worth of ZCL at price 0.00067035 and receive a MIN_TRADE_REQUIREMENT_NOT_MET. Is that so? You really putting me out of the game.
I still did not get any response from bittrex.
So you can buy that amount but cannot sell it. So left holding little bags of shit until they hopefully go over 0.001.. Nice one bittrex! I will use Cryptopia for smaller trades then. I guess they make up for it on their high withdrawl fees!
Yes exactly.
This is the request I submit to Bittrex on trying to solve this problem:
First, I must say that I hate this minimum trade size of 0.001 btc.
Second, the exchange still allows buy orders that spend 0.0006 btc.
On a CURE/BTC coin, I can make buy orders of 0.0006 btc and I can make sell orders that receive less than 0.001 btc.
But on the CLUB/BTC coin, I can't make a sell order that sells 2.6 club to receive more than 0.001 btc I'd like to sell at price 0.00042343 and I get minimum trade requirement not met message.
I'd like to know why is it happening? And if you could fix this.
Of course I can not sell my 2.6 club, because they put a minimum limit on coins as well. Now If I want to sell 2.6 CLUB, I'll have to buy the minimum of club coins permitted and sell those 2.6 together.
Sometimes you will prefer the high transaction fee for fast transfer. Most of my hitbtc transfer takes 12 hrs which the delay is worrisome and increases the contact of support in several cases.
If I look at HitBTC's withdrawal fees, then they handle a lower fee (0.00085 BTC) than most of the exchanges. However, the fee itself isn't all that bad, and even in current situation where the network is congested shouldn't result in transactions needing 12 hours to confirm. If you look at your withdrawals, how much in satoshi's per byte does HitBTC really include in fees? If it's significantly lower than what it costs you to withdraw, they keep a big chunk of the withdrawal fees for themselves, which would really be a damn shame. Exchanges at minimum should add fees that would give its users sub 3 block confirmations, otherwise it's unacceptable....
Plus, their ridiculous 0.001 BTC withdraw fee has always been a huge turn-off. They don't need nearly that much to send a transaction and I'm tired of getting scalped by that exchange.
If you are shocked by that, cryptopia has a .002 transaction fee. So yeah it is even more ridiculous, i dont how how users there would withdraw their transaction with that kind of high transaction fee. But some say it is fast compared to other exchange sites. But for me, i could wait hours as long as it will be sent and it was at least lower transaction fee.
What exchanges have smaller minimums, lots of choice and reasonable fees?
I hate this policy, but it seems the minimum trade size is not fully applied, because I still can make 0.0006 btc size trades, at least on the buy part.
I'm going back to poloniex, but still prefer bittrex for there list of coins, on poloniex i usually place orders that are 0.0002 btc.
Cryptopia would be my target, but there minimum order is 0.0005 btc, I wish it was 0.0002.
Anyone knows if other exchange has similar minimums as poloniex?
So you can buy that amount but cannot sell it. So left holding little bags of shit until they hopefully go over 0.001.. Nice one bittrex! I will use Cryptopia for smaller trades then. I guess they make up for it on their high withdrawl fees!
What exchanges have smaller minimums, lots of choice and reasonable fees?
I hate this policy, but it seems the minimum trade size is not fully applied, because I still can make 0.0006 btc size trades, at least on the buy part.
I'm going back to poloniex, but still prefer bittrex for there list of coins, on poloniex i usually place orders that are 0.0002 btc.
Cryptopia would be my target, but there minimum order is 0.0005 btc, I wish it was 0.0002.
Anyone knows if other exchange has similar minimums as poloniex?
The main reason I signed up for Bittrex was for their smaller minimum trade size. It has allowed me to get to know and trade with many coins with not so much money invested. Getting rid of this and I will probably just use Binance more, however they have the same minimum of 0.001. I do not always want to spend/sell this much though.
What exchanges have smaller minimums, lots of choice and reasonable fees?
What exchanges have smaller minimums, lots of choice and reasonable fees?
...
This one can eliminate those small time traders who do trades on their site and how come they put some changes, maybe they are doing some manipulation act so that they can maintain their stands and retains only the whales. But for now I will move on the other site who have less restriction since I don't want to get nasty touch on a site who's not friendly to their users.
This one can eliminate those small time traders who do trades on their site and how come they put some changes, maybe they are doing some manipulation act so that they can maintain their stands and retains only the whales. But for now I will move on the other site who have less restriction since I don't want to get nasty touch on a site who's not friendly to their users.
What other trade site would you recommend then for small traders?
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
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.
This one can eliminate those small time traders who do trades on their site and how come they put some changes, maybe they are doing some manipulation act so that they can maintain their stands and retains only the whales. But for now I will move on the other site who have less restriction since I don't want to get nasty touch on a site who's not friendly to their users.
Reading all this negative comments with high ranks is discouraging. I have planned to test Bittrex next week but it all change now. Thanks for this guys and I think it’s better be aware of this problem and those sweet propaganda machine should always be observe before doing that is regrettable in the end. I’m not a good trader so hearing or learning from experienced trader is always my priority.
I have nothing good to say about them anymore.They have:
- High static BTC withdraw fee (0.001 ~= $13)
- Bad customer support
- Requires verification to withdraw, but not to deposit (seriously??)
- Higher minimum trade requirement
I used to use them, but they just got worse and worse until these changes pushed me away from them.
Reading all this negative comments with high ranks is discouraging. I have planned to test Bittrex next week but it all change now. Thanks for this guys and I think it’s better be aware of this problem and those sweet propaganda machine should always be observe before doing that is regrettable in the end. I’m not a good trader so hearing or learning from experienced trader is always my priority.
Literally, Bittrex is shit. I cant withdraw money from here, my money were stucked. I was worried about withdrawing funds, their whole system seems pretty rickety and old school. Their support really sucks.
Bittrex is changing the game big time, the best thing anyone could do right now before mayhem ensues is to go with another option.
thanks for the info. I think bittrex is a good bitcoin exchange
My verification process was done in 10 minutes, never had any problems with Bittrex. I think the measures are more aimed towards getting rid of PnD groups but I could be mistaken.
Now that sucks because I wanted to withdraw my money today and in order to do so I need to verify my ID first. 
Eherm eherm..
Tuxexchange.com
Tuxexchange.com
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
They lack volume because not many people are using them. It's a chicken and egg situation - until people migrate to them, volume won't pick up, and you are stuck with the centralised exchanges.
Are there decentralized exchanges for things other than ERC20 tokens right now? I know there was one for BTC, but did it do altcoins too?
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
They lack volume because not many people are using them. It's a chicken and egg situation - until people migrate to them, volume won't pick up, and you are stuck with the centralised exchanges.
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
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
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
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.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. 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.
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.
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.
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.
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. 
There's no point short trading alts here then. Anyone know a better alternative than Trex other than Polo?
The only thing I liked about their new policy changes was the fact that they have announced to suspend any pumping groups activity 
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.
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. 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 asNumber 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
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 
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. 
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
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.
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 ?
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 !!
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.
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.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.
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.
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 !!
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.
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.
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.
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
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?
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 !!
I think this is a common thing happening in exchanges trying to "come clean", making sure they have all their KYC info straight and everything, combined with their lack of handling scaling very well. 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 !!
I tried withdrawal on bitrex today but couldn't get through. The complain was a limit of transaction for the day, is that what they mean with new updates
No that may be an issue on your end. The update of trex was that there is a new limit for orders, which seems to be inconvenient if you got some spare satoshi's you want to spend.
Orders having a frame of 28 days is something I can live with, but the min. order size should remain intact if you ask me.
It's not common practice to force users to certain actions, if those actions/rules don't benefit them.
I am quite sure that not many people will end up leaving that exchange.
It theoretically shouldn't really affect many people, but if we look at how many people disagree with all these changes, it may actually turn out to be a reason for them to leave. Sure, a good number of traders won't look down on Bittrex since they will just adapt to the situation, but the people who actually got affected by these actions are a majority in number. Not everyone can afford to trade with generally medium to larger amounts, and with these changes, people who were on the brink of leaving that exchange for various reasons before all this, will have more incentive to do so now.
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 !!
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 !!
I tried withdrawal on bitrex today but couldn't get through. The complain was a limit of transaction for the day, is that what they mean with new updates
Bittrex is not my primary exchange and with these new changes it will never be my favorite. I am a small trader, so I am not happy with the fact that they increased the minimum trade size to 100k satoshi. I think I will move everything to some other exchanges.
Bittrex is always updating their terms, and their policies, i dont even know why there are people trading in there, and there are some people who have all their funds in this exchange.
I can not wait until their turn scam, they have closed my account without telling me, and now they dont want to upgrade my account to enhanced verification, i sent a ticket about 10 days ago, and they have still not replied me.
They are scam people, they are updating their terms and they will always change whatever they want, it is a shame that they have turned to be this kind of shitty exchange, like novaexchange did.
I can not wait until their turn scam, they have closed my account without telling me, and now they dont want to upgrade my account to enhanced verification, i sent a ticket about 10 days ago, and they have still not replied me.
They are scam people, they are updating their terms and they will always change whatever they want, it is a shame that they have turned to be this kind of shitty exchange, like novaexchange did.
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.
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.
All that will happen is that the order books become thin. So say there is a flash crash - there will be no old orders on there to soak it up, so it should crash faster than on other exchanges.
Having a good order book is essential for liquidity - and those old orders are what ensure a full order book...
I don't see how removing old orders will stop people using the exchange as a wallet. You don't need to have money in an order to keep it in an exchange.
It won't, but perhaps he is referring to the fact that it may give people less incentive to keep their funds on-exchange, because as long as they have open orders that they believe might at some point get filled, these people will not withdraw their funds. People are a lazy bunch, they will grab every excure they can not to withdraw anything. Despite the fact that people seem to be unsatisfied with what Bittrex has done, I am quite sure that not many people will end up leaving that exchange. Bittrex aims to get rid of the lower value bot transactions by setting up higher standards. It's likely an attempt to make their exchange a bit more responsive, but then without them having to pay a single dime for it.
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.
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.
I don't see how removing old orders will stop people using the exchange as a wallet. You don't need to have money in an order to keep it in an exchange.
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.
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.
In times where the market is reaching newer highs constantly, the amounts that people can afford to trade will only get smaller. If you up the minimum trade amounts, you'll be working against a big part of your own traders, and this may turn out to cause people to shift to another exchange. Another thing I definitely can't agree with is how they plan to take action against stale orders -- let the traders decide whether or not their orders must stay on, or should get withdrawn. If you as exchange puts your nose into something that shouldn't concern you, you disturb how people trade, fill both sides of the order book, etc. An exchange should deliver a reliable platform for people to trade at, and not to dictate how people should trade, period.
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.
I have mixed feelings. On one hand, I don't appreciate it as a trader. I literally have been seeing notifications throughout the day about my orders being cancelled. One the other hand, these are fairly standard measures that one would expect any institutional-level exchange to implement if they want to be a serious contender in a regulated market. With all the recent changes (included stiffer KYC), it looks like that's the direction that Bittrex is heading. The note about pump groups is indicative.
At this point, I'd definitely advise people to withdraw funds from the site if your ID documents aren't going to match the personal info you gave them. These are all signs of an exchange that's trying to "go clean."
any bittrex account linked to any mail,must have gotten this update or probably. With improved bitcoin/blockchain, the exchanges should be requesting for more money to trade.
It doesn't make sense to me why they would want to increase the minimum order size. It's not even that big of a difference but it'll hit the small time traders pretty hard as they can't do small trades anymore. And $8 by no means is a small amount for someone in a third world country.
Also, lowering precision doesn't make sense either. Why? It doesn't even take much resources to do it, and in my opinion it's always good to have precise rather than approximate figures.
Time to move away from bittrex i guess.
It is probably due to the large number of dust trades, I guess, and this takes up way more resources, more than we think. I guess they just don't want to waste energy and time to sort those, but $8 is too large. With this policy, I wonder what will happen to Bittrex. Perhaps it may benefit the large investors with more support and less waiting time, but I'm not so sure.Also, lowering precision doesn't make sense either. Why? It doesn't even take much resources to do it, and in my opinion it's always good to have precise rather than approximate figures.
Time to move away from bittrex i guess.
I like Bittrex for its extensive list of coins, but I am not a large trader, so this is a no-go for me now.
Yeah exactly. It feels like bittrex doesn't care about the grassroot traders that have brouht them to where they are now but only cares about their whale traders right now. That's not a good business strategy, you always look after the needs of every single customer whether large or small.
I am perfectly fine with most of these changes since they don't affect me personally. It's mostly those who care about few buck trades that will be affected. It's obvious that Bittrex is trying to clean things up.
The only thing I am not really a fan of is that they will remove older orders, which is something that should never be messed with. In quite some cases orders aren't meant to be executed, and for that reason shouldn't be removed.
I am sure that a lot people waiting for Bittrex to respond to their tickets will not be happy with this. Bittrex has time to come up with changes concerning its trading platform, but doesn't have time to sort things out with people's accounts.
The only thing I am not really a fan of is that they will remove older orders, which is something that should never be messed with. In quite some cases orders aren't meant to be executed, and for that reason shouldn't be removed.
I am sure that a lot people waiting for Bittrex to respond to their tickets will not be happy with this. Bittrex has time to come up with changes concerning its trading platform, but doesn't have time to sort things out with people's accounts.
Small orders will affect a lot of the people who are trying to get a start with bitcoin trading or altcoin trading.
Now they can't do that, because of the new policies.
I am perfectly fine with most of these changes since they don't affect me personally. It's mostly those who care about few buck trades that will be affected. It's obvious that Bittrex is trying to clean things up.
The only thing I am not really a fan of is that they will remove older orders, which is something that should never be messed with. In quite some cases orders aren't meant to be executed, and for that reason shouldn't be removed.
I am sure that a lot people waiting for Bittrex to respond to their tickets will not be happy with this. Bittrex has time to come up with changes concerning its trading platform, but doesn't have time to sort things out with people's accounts.
The only thing I am not really a fan of is that they will remove older orders, which is something that should never be messed with. In quite some cases orders aren't meant to be executed, and for that reason shouldn't be removed.
I am sure that a lot people waiting for Bittrex to respond to their tickets will not be happy with this. Bittrex has time to come up with changes concerning its trading platform, but doesn't have time to sort things out with people's accounts.
To be fair, you see that pretty often. People make a new exchange, they grow huge and then they can't handle the volume.
I am perfectly fine with most of these changes since they don't affect me personally. It's mostly those who care about few buck trades that will be affected. It's obvious that Bittrex is trying to clean things up.
The only thing I am not really a fan of is that they will remove older orders, which is something that should never be messed with. In quite some cases orders aren't meant to be executed, and for that reason shouldn't be removed.
I am sure that a lot people waiting for Bittrex to respond to their tickets will not be happy with this. Bittrex has time to come up with changes concerning its trading platform, but doesn't have time to sort things out with people's accounts.
The only thing I am not really a fan of is that they will remove older orders, which is something that should never be messed with. In quite some cases orders aren't meant to be executed, and for that reason shouldn't be removed.
I am sure that a lot people waiting for Bittrex to respond to their tickets will not be happy with this. Bittrex has time to come up with changes concerning its trading platform, but doesn't have time to sort things out with people's accounts.
I'm glad I moved most of my coins from Bittrex last month. (I have a legacy account and didn't want to be forced to give them my ID stuff in case they get hacked).
The removal of "stale orders" that are over 28 days old is insane. I often place orders at various price points just so you can catch spikes up or flash crashes. Sometimes orders I've set a year in advance have come good and made me a lot of money.
It would be an utter nuisance setting these every month - I bet their entire order book suddenly dries up as a result of this silly policy.
The removal of "stale orders" that are over 28 days old is insane. I often place orders at various price points just so you can catch spikes up or flash crashes. Sometimes orders I've set a year in advance have come good and made me a lot of money.
It would be an utter nuisance setting these every month - I bet their entire order book suddenly dries up as a result of this silly policy.
The best way would be on Bittrex to trade with only little amounts and withdraw as soon as you have exchanged your money. If larger trading amounts are needed, then proceed first your ID and wait until ID process is confirmed, before you deposit. Only send funds from wallet and the best is, to make sure, that past transactions can't be tracked. Don't put your whole money, that you want to exchange to one single exchanger.
Plus, their ridiculous 0.001 BTC withdraw fee has always been a huge turn-off. They don't need nearly that much to send a transaction and I'm tired of getting scalped by that exchange.
If you are shocked by that, cryptopia has a .002 transaction fee. So yeah it is even more ridiculous, i dont how how users there would withdraw their transaction with that kind of high transaction fee. But some say it is fast compared to other exchange sites. But for me, i could wait hours as long as it will be sent and it was at least lower transaction fee.
Plus, their ridiculous 0.001 BTC withdraw fee has always been a huge turn-off. They don't need nearly that much to send a transaction and I'm tired of getting scalped by that exchange.
Well, I'm not sure what to make of this exactly, but I think we're all getting immune to the wheeling and dealings all these centralised exchanges are doing. Of course, I suppose their bigger users won't be affected and may even welcome this news, assuming it'll return a lot of resources to service more serious traders. I've anyway been moving farther and farther away from guys like Bittrex simply because of the red flags and warning signs of randomly locked accounts.
I do find it funny to refer to "stale orders", though. I got affected, small orders, but they're just sitting there for under two months. To me, it's perfectly legitimateto set an order 10 to 15% variance from entry. Just because 28 days have passed doesn't mean they "have no reasonable expectation to being filled". Are they saying they're encouraging short term traders? Scalpers?
Goodbye, Bittrex!
I do find it funny to refer to "stale orders", though. I got affected, small orders, but they're just sitting there for under two months. To me, it's perfectly legitimateto set an order 10 to 15% variance from entry. Just because 28 days have passed doesn't mean they "have no reasonable expectation to being filled". Are they saying they're encouraging short term traders? Scalpers?
Goodbye, Bittrex!
i am not getting a good feeling about bittrex at all. these changes are not normal. and will all these shady activity and unsatisfied users, i am sure they are losing a lot of their old users who are now taking their business elsewhere. they will take a big financial hit pretty soon and may end up pump and dumping some coins themselves to make back some of the revenue they lost.
we really need to start thinking about switching to decentralized exchanges instead of these centralized ones like bittrex that can scam us at any second.
we really need to start thinking about switching to decentralized exchanges instead of these centralized ones like bittrex that can scam us at any second.
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.
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.
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.
It doesn't make sense to me why they would want to increase the minimum order size. It's not even that big of a difference but it'll hit the small time traders pretty hard as they can't do small trades anymore. And $8 by no means is a small amount for someone in a third world country.
Also, lowering precision doesn't make sense either. Why? It doesn't even take much resources to do it, and in my opinion it's always good to have precise rather than approximate figures.
Time to move away from bittrex i guess.
It is probably due to the large number of dust trades, I guess, and this takes up way more resources, more than we think. I guess they just don't want to waste energy and time to sort those, but $8 is too large. With this policy, I wonder what will happen to Bittrex. Perhaps it may benefit the large investors with more support and less waiting time, but I'm not so sure.Also, lowering precision doesn't make sense either. Why? It doesn't even take much resources to do it, and in my opinion it's always good to have precise rather than approximate figures.
Time to move away from bittrex i guess.
I like Bittrex for its extensive list of coins, but I am not a large trader, so this is a no-go for me now.
It doesn't make sense to me why they would want to increase the minimum order size. It's not even that big of a difference but it'll hit the small time traders pretty hard as they can't do small trades anymore. And $8 by no means is a small amount for someone in a third world country.
Also, lowering precision doesn't make sense either. Why? It doesn't even take much resources to do it, and in my opinion it's always good to have precise rather than approximate figures.
Time to move away from bittrex i guess.
Also, lowering precision doesn't make sense either. Why? It doesn't even take much resources to do it, and in my opinion it's always good to have precise rather than approximate figures.
Time to move away from bittrex i guess.
Well said. Bittrex has now become just another exchange that completely f***ed up their transition to becoming THE premier exchange. Previous personal favorite was poloniex but their support was so bad that everyone moved to bittrex.
Now we're seeing complaints against bittrex piling up, especially with verification issues.
Is it really worth it to stay with them, or should i move to binance or even just use shapeshift for day to day trading? I mean their rates aren't that bad even.
Now we're seeing complaints against bittrex piling up, especially with verification issues.
Is it really worth it to stay with them, or should i move to binance or even just use shapeshift for day to day trading? I mean their rates aren't that bad even.
Same here. I started in Poloniex but because of the issues, I moved to Bittrex as well but then due to sudden disabling and downgrading of accounts, I am considering of transferring to other exchange. There are many exchanges to choose from anyway and I can see some people having good feedback especially in their support who are active and responsive unlike in Bittrex and Poloniex that took quite sometime to respond on some customer issues. Even some of the trading fees are lower than the previous two.
A lot of newbie traders has a little capital to start trading and an $8 minimum trading size is just high. Well for some it maybe just a dust but for those who are just starting, it is quite high so better to look at other exchanges.
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
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.
Well said. Bittrex has now become just another exchange that completely f***ed up their transition to becoming THE premier exchange. Previous personal favorite was poloniex but their support was so bad that everyone moved to bittrex.
Now we're seeing complaints against bittrex piling up, especially with verification issues.
Is it really worth it to stay with them, or should i move to binance or even just use shapeshift for day to day trading? I mean their rates aren't that bad even.
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
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.
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