Would you still do business with them?

SquirrelJulietGarden

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Quote from: radjie on July 01, 2023, 10:04:08 PM

Bittrex still has good faith in providing information to its users, this of course gives a good reputation for its managers. There is a possibility that in the future this exchange will return with a better system update and of course old users of this exchange will be loyal to return to experience a more modern trading style

They did not steal their user money by announcing their service closure and give their users time to withdraw money.

I don't know they will come back in future with a same exchange name, Bittrex or their team will buy some time to do due diligent research with Compliance, laws and wait for clear regulations from SEC. before creating a new exchange business. With toxic attacks from SEC. recent months, if you own a cryptocurrency business in the USA, you will feel risk and want to close your service and simply enjoy your easy life. I believe people who run Bittrex many years would be rich already and they don't need to live with stress by continuing their business.

Quote from: bitterguy28 on July 02, 2023, 10:08:16 PM

yeah they are reasonable to file bankruptcy and did not steal anything from their users.

They announced that they leave the USA. before they announce their bankruptcy. I think from their announcement to leave the USA. you can consider to withdraw your money from your Bittrex account already. It's risky to store your cryptocurrency on an exchange that is in migration process as something worse will follow the migration.

bitterguy28

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I certainly do mate , doing business with one of the most popular and big exchange have ever exist ? those exchanges that experienced closure may stand temporary meaning there are more to come in the future because still it is a business and we cannot deny their existence served us best for many years.

Quote from: Wend on June 30, 2023, 11:10:34 AM

Quote from: livingfree on June 30, 2023, 08:11:48 AM

In terms of a business related to money/finance and crypto, it's hard to trust them the second time around.

The fear will remain, there could be some words of acknowledgement that they deserve to be given a 2nd chance. But if your personal asset is involved, don't you think to give that to them?

Despite Bittrex has a big history on my crypto journey, better safe than never.

What is the reason why you no longer trust them when they have declared bankruptcy and everyone's assets are safe? What they have done is something to be cherished, and we should thank them instead of turning our backs on them. But as far as I know, Bittrex is still operating normally, and they only announced the closure of the US market. So, for those who are using Bittrex but not in the US market, there is no need to worry.

yeah they are reasonable to file bankruptcy and did not steal anything from their users.

radjie

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Quote from: irhact on July 01, 2023, 05:08:39 AM

Quote from: Wend on June 30, 2023, 11:10:34 AM

What is the reason why you no longer trust them when they have declared bankruptcy and everyone's assets are safe? What they have done is something to be cherished, and we should thank them instead of turning our backs on them. But as far as I know, Bittrex is still operating normally, and they only announced the closure of the US market. So, for those who are using Bittrex but not in the US market, there is no need to worry.

Some individuals are funny, they'll prefer to trust a company that scammed them then rebrand with another scam and they'll still patronized that project and buy their tokens which is what most developers are doing with altcoins. They create new ones based on what's been hyped in the market like with memecoins and when it's not getting any hyped again they close the project or abandoned it to create a new one.

Bittrex didn't scammed anybody they made sure they kept all their customers safe and that behavior has to be applauded because many projects and exchange in the market can't do what Bittrex did. They have shown that they can be trusted and if they comeback in future I would consider using their exchange instead of the new ones that doesn't have any reputation.

Bittrex still has good faith in providing information to its users, this of course gives a good reputation for its managers. There is a possibility that in the future this exchange will return with a better system update and of course old users of this exchange will be loyal to return to experience a more modern trading style

serjent05

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Quote from: irhact on July 01, 2023, 05:08:39 AM

Quote from: Wend on June 30, 2023, 11:10:34 AM

What is the reason why you no longer trust them when they have declared bankruptcy and everyone's assets are safe? What they have done is something to be cherished, and we should thank them instead of turning our backs on them. But as far as I know, Bittrex is still operating normally, and they only announced the closure of the US market. So, for those who are using Bittrex but not in the US market, there is no need to worry.

Some individuals are funny, they'll prefer to trust a company that scammed them then rebrand with another scam and they'll still patronized that project and buy their tokens which is what most developers are doing with altcoins. They create new ones based on what's been hyped in the market like with memecoins and when it's not getting any hyped again they close the project or abandoned it to create a new one.

Indeed it is really funny how people can easily forget how these groups of individuals scam them and can easily trust these people again when they launch new projects under different name. It looks like greed can keep the eyes of individual blindfolded. I feel sad for these kind of people. They will continue to get exploited by the same scam people if they keep on being naive.

Quote from: irhact on July 01, 2023, 05:08:39 AM

Bittrex didn't scammed anybody they made sure they kept all their customers safe and that behavior has to be applauded because many projects and exchange in the market can't do what Bittrex did. They have shown that they can be trusted and if they comeback in future I would consider using their exchange instead of the new ones that doesn't have any reputation.

I am one of the pioneers of Bittrex, I have seen their first announcement until their bankruptcy call. They never scammed anyone and keep their reputation in the industry intact. I don't mind trusting their service again if they happen to re-establish their service.

Taskford

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Quote from: Hypnosis00 on July 01, 2023, 02:01:28 PM

Quote from: Sanitough on July 01, 2023, 01:49:20 PM

Yes, I do believe that everyone deserves a second chance even when it comes to our money and investment as long as we also see some positive changes that is going to take place. But regardless if an exchange is highly reputable or not, the fact that it’s centralized means we don’t have the full control of our investment anymore, then we should take extra careful and caution when doing business with them. And of course, by putting only a small amount of coins at an exchange, we are minimizing the risk of losing.

I agree with the 2nd chance but regarding trust, that was unfortunately not the same as before. Yes, we now become more cautious because even we do business with them again but I know there is already negativity that appears on our mind. But honestly, as the doubts and uncertainties come, this is not a good and healthy investment already. It is better not to continue doing business with them rather than get into such a feeling because it only creates negativity which is somehow not ideal for making a business.

Second chance is only good for people who commit minor mistake. But this? For a institution who create a big financial damage to their community and to a large number of group globally I don't think they deserve a second chance since they could do the same again once they became successful and gather billions of dollars deposit coming from their new traders. There are more other reputable exchange available do why do we need to recycle those compromised exchange?

For me I would not trust them back again and find better exchange.

Botnake

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If I think there are positive changes on the company management, I will not hesitate to do business with them again but maybe this time, I’ll just only risk just a small portion of my coins. And I think that it’s only advisable to use centralized exchanges when we only decide to trade, while the rest of our coins should be kept and hold for long term in our own hardware wallet that makes it highly safe from scammers around.

Hypnosis00

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Quote from: Sanitough on July 01, 2023, 01:49:20 PM

Yes, I do believe that everyone deserves a second chance even when it comes to our money and investment as long as we also see some positive changes that is going to take place. But regardless if an exchange is highly reputable or not, the fact that it’s centralized means we don’t have the full control of our investment anymore, then we should take extra careful and caution when doing business with them. And of course, by putting only a small amount of coins at an exchange, we are minimizing the risk of losing.

I agree with the 2nd chance but regarding trust, that was unfortunately not the same as before. Yes, we now become more cautious because even we do business with them again but I know there is already negativity that appears on our mind. But honestly, as the doubts and uncertainties come, this is not a good and healthy investment already. It is better not to continue doing business with them rather than get into such a feeling because it only creates negativity which is somehow not ideal for making a business.

Sanitough

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Quote from: Poker Player on June 28, 2023, 11:24:03 PM

Quote from: alastantiger on May 10, 2023, 02:28:24 PM

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

Everyone should have a second chance, but in the case of businesses it should be accompanied by clear changes such as changes in the top management. In any case, to do business with a centralized exchange you should be very careful in general, even if the exchange has not gone bankrupt (yet, lol).

Yes, I do believe that everyone deserves a second chance even when it comes to our money and investment as long as we also see some positive changes that is going to take place. But regardless if an exchange is highly reputable or not, the fact that it’s centralized means we don’t have the full control of our investment anymore, then we should take extra careful and caution when doing business with them. And of course, by putting only a small amount of coins at an exchange, we are minimizing the risk of losing.

irhact

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Quote from: Wend on June 30, 2023, 11:10:34 AM

What is the reason why you no longer trust them when they have declared bankruptcy and everyone's assets are safe? What they have done is something to be cherished, and we should thank them instead of turning our backs on them. But as far as I know, Bittrex is still operating normally, and they only announced the closure of the US market. So, for those who are using Bittrex but not in the US market, there is no need to worry.

Some individuals are funny, they'll prefer to trust a company that scammed them then rebrand with another scam and they'll still patronized that project and buy their tokens which is what most developers are doing with altcoins. They create new ones based on what's been hyped in the market like with memecoins and when it's not getting any hyped again they close the project or abandoned it to create a new one.

Bittrex didn't scammed anybody they made sure they kept all their customers safe and that behavior has to be applauded because many projects and exchange in the market can't do what Bittrex did. They have shown that they can be trusted and if they comeback in future I would consider using their exchange instead of the new ones that doesn't have any reputation.

livingfree

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Quote from: Wend on June 30, 2023, 11:10:34 AM

Quote from: livingfree on June 30, 2023, 08:11:48 AM

In terms of a business related to money/finance and crypto, it's hard to trust them the second time around.

The fear will remain, there could be some words of acknowledgement that they deserve to be given a 2nd chance. But if your personal asset is involved, don't you think to give that to them?

Despite Bittrex has a big history on my crypto journey, better safe than never.

What is the reason why you no longer trust them when they have declared bankruptcy and everyone's assets are safe?

The topic is about if they ever go back and register somewhere else and tries to operate again and that's why, everyone is saying that they will not trust them anymore so do I.

Quote from: Wend on June 30, 2023, 11:10:34 AM

What they have done is something to be cherished, and we should thank them instead of turning our backs on them.

Yes, they've been part of our lives for a very long time but that's it.

Quote from: Wend on June 30, 2023, 11:10:34 AM

But as far as I know, Bittrex is still operating normally, and they only announced the closure of the US market. So, for those who are using Bittrex but not in the US market, there is no need to worry.

Yeah, and this is for most crypto exchanges in the US that are filing their closure on that location because of regulatory pressure.

Marvell1

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Quote from: ultrloa on June 30, 2023, 10:37:03 AM

Quote from: Marvell1 on June 30, 2023, 10:03:02 AM

...

They are serious because crypto exchange business is a big deal. They already see how big the money came in into their platform that's why they maybe think about to revive back their operation. But the question to be ask there is does the old FTX user could trust them again? since for sure they already done with them and don't want to experience another round of scamming. Maybe they can accumulate those new but they will never restore back the trust of people especially those who lose a lot of money on their last activity made.

Maybe you are right because the profits from this industry are huge, no one wants to miss such a big piece of cake. If they are really serious, then returning the entire assets to the old users and offering great incentives is definitely a priority. Because this is the only way for them to regain the trust of the people and the market. I still think there will still be some investors who continue to be loyal to them because people quickly forget everything and just give them a little profit, they will forget the past.

I'm fortunately not a victim of FTX but even if they come back and get stronger, I won't believe them. They have been dishonest in trying to deceive investors in the past, and there is no guarantee that it will not happen again. Moreover, they are not the only CEX in the market, there are more reliable options for us to choose from.

bayu7adi

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The foremost consideration for me is the primary reason behind their declaration of bankruptcy.

There are several reasons that are no longer acceptable when they emerge under different names. For instance, bankruptcy due to the misconduct of developers or an unfair business approach by the team. Or instances of fraudulent activities between the owner and users. Or anything related to the tarnished reputation of the exchange platform.

However, there are also some reasonable and acceptable reasons when they resurface. Such as the failure to adapt to technological advancements or mismanagement caused by an incapable team member. These issues can still be acknowledged and rectified in a new platform.

Wend

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Quote from: livingfree on June 30, 2023, 08:11:48 AM

In terms of a business related to money/finance and crypto, it's hard to trust them the second time around.

The fear will remain, there could be some words of acknowledgement that they deserve to be given a 2nd chance. But if your personal asset is involved, don't you think to give that to them?

Despite Bittrex has a big history on my crypto journey, better safe than never.

What is the reason why you no longer trust them when they have declared bankruptcy and everyone's assets are safe? What they have done is something to be cherished, and we should thank them instead of turning our backs on them. But as far as I know, Bittrex is still operating normally, and they only announced the closure of the US market. So, for those who are using Bittrex but not in the US market, there is no need to worry.

ultrloa

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Quote from: Marvell1 on June 30, 2023, 10:03:02 AM

Quote from: xSkylarx on June 30, 2023, 05:33:48 AM

Quote from: Marvell1 on June 29, 2023, 06:04:49 AM

Quote from: Ale88 on June 28, 2023, 09:58:37 PM

Quote from: alastantiger on May 10, 2023, 02:28:24 PM

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

I would never trust again an exchange that went bankrupt. Who can assure me that it's not going to happen again? If you go bankrupt you had a really bad management, at that point just start a new clean exchange. I feel like it would be like fixing a totaled car instead of getting a new one, why would you do that? How could you trust it?

But with Bittrex, they announced bankruptcy and asked their customers to withdraw money, what did they do wrong? This case is very different from what FTX has done, so we cannot say that all exchanges are not equally reliable. What Bittrex has done is appreciable, and if they do get back up and running, I'll support them, even though I've never done business with them before. For FTX, we should definitely stay away from them even if they return all investors and reopen. There has been some news saying that FTX is planning to come back, but I hope they return investors' money and never come back.

that is really good move by Bittrex there's a lot of people was able to received emails to withdraw their funds which is a good sign that they really care on their users and they want that anyone can get their money back and not the same with FTX just running , for sure if FTX is back only couple of people will be back on their platform even they give back the money which we still don't know if when they can give it back but lets hope as a lot of people really affected on those and lose tons of money that they save for few years.

It seems that FTX's intention to return is serious, and as far as I know, their users will be compensated in the form of a new product from the company rather than the same assets that FTX took away. I don't know if the news I read is correct, but if it's true, then FTX sucks. This is an act of disrespect to customers, and with such a start, they will never have a chance to return to the market a second time. Mt.gox and FTX are the biggest stains on our crypto industry.

They are serious because crypto exchange business is a big deal. They already see how big the money came in into their platform that's why they maybe think about to revive back their operation. But the question to be ask there is does the old FTX user could trust them again? since for sure they already done with them and don't want to experience another round of scamming. Maybe they can accumulate those new but they will never restore back the trust of people especially those who lose a lot of money on their last activity made.

Marvell1

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Quote from: xSkylarx on June 30, 2023, 05:33:48 AM

Quote from: Marvell1 on June 29, 2023, 06:04:49 AM

Quote from: Ale88 on June 28, 2023, 09:58:37 PM

Quote from: alastantiger on May 10, 2023, 02:28:24 PM

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

I would never trust again an exchange that went bankrupt. Who can assure me that it's not going to happen again? If you go bankrupt you had a really bad management, at that point just start a new clean exchange. I feel like it would be like fixing a totaled car instead of getting a new one, why would you do that? How could you trust it?

But with Bittrex, they announced bankruptcy and asked their customers to withdraw money, what did they do wrong? This case is very different from what FTX has done, so we cannot say that all exchanges are not equally reliable. What Bittrex has done is appreciable, and if they do get back up and running, I'll support them, even though I've never done business with them before. For FTX, we should definitely stay away from them even if they return all investors and reopen. There has been some news saying that FTX is planning to come back, but I hope they return investors' money and never come back.

that is really good move by Bittrex there's a lot of people was able to received emails to withdraw their funds which is a good sign that they really care on their users and they want that anyone can get their money back and not the same with FTX just running , for sure if FTX is back only couple of people will be back on their platform even they give back the money which we still don't know if when they can give it back but lets hope as a lot of people really affected on those and lose tons of money that they save for few years.

It seems that FTX's intention to return is serious, and as far as I know, their users will be compensated in the form of a new product from the company rather than the same assets that FTX took away. I don't know if the news I read is correct, but if it's true, then FTX sucks. This is an act of disrespect to customers, and with such a start, they will never have a chance to return to the market a second time. Mt.gox and FTX are the biggest stains on our crypto industry.

livingfree

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In terms of a business related to money/finance and crypto, it's hard to trust them the second time around.

The fear will remain, there could be some words of acknowledgement that they deserve to be given a 2nd chance. But if your personal asset is involved, don't you think to give that to them?

Despite Bittrex has a big history on my crypto journey, better safe than never.

xSkylarx

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Quote from: Marvell1 on June 29, 2023, 06:04:49 AM

Quote from: Ale88 on June 28, 2023, 09:58:37 PM

Quote from: alastantiger on May 10, 2023, 02:28:24 PM

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

I would never trust again an exchange that went bankrupt. Who can assure me that it's not going to happen again? If you go bankrupt you had a really bad management, at that point just start a new clean exchange. I feel like it would be like fixing a totaled car instead of getting a new one, why would you do that? How could you trust it?

But with Bittrex, they announced bankruptcy and asked their customers to withdraw money, what did they do wrong? This case is very different from what FTX has done, so we cannot say that all exchanges are not equally reliable. What Bittrex has done is appreciable, and if they do get back up and running, I'll support them, even though I've never done business with them before. For FTX, we should definitely stay away from them even if they return all investors and reopen. There has been some news saying that FTX is planning to come back, but I hope they return investors' money and never come back.

that is really good move by Bittrex there's a lot of people was able to received emails to withdraw their funds which is a good sign that they really care on their users and they want that anyone can get their money back and not the same with FTX just running , for sure if FTX is back only couple of people will be back on their platform even they give back the money which we still don't know if when they can give it back but lets hope as a lot of people really affected on those and lose tons of money that they save for few years.

RockBell

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Quote from: Reatim on June 28, 2023, 07:07:15 AM

Exchange like Bittrex and other mentioned exchange had served the cryptonians for years back then and yes they are the most trusted in their days but business need to an end as there are no permanent in this world.

Asking me if I will still do business with them? of course if happens that they gain the business back so why not?

Where is the confidence coming from, with exchanges, I know we can't do without them, but the fact that we use them, I don't trust them, they are volunteer to a lot of defaults, especially being hacked, or just disappearing so many things can happen, the issue of FTX shows why it is very risky to trust an exchange we should just, the only thing I can suggest you do is getting a secured wallet with your seed phrase properly saved and whenever you want to Run any transaction, all you have to do is send the amount you want to buy or sell on the exchange that is if you are selling and to your wallet if you buying.

Marvell1

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Quote from: Ale88 on June 28, 2023, 09:58:37 PM

Quote from: alastantiger on May 10, 2023, 02:28:24 PM

I know that many other centralized exchanges may declare bankruptcy - but let's ignore this for a moment and assume that these companies gets back in business would you patronize them? Would you still do business with them? I know the whole talk of move your bitcoin off centralized exchanges but we cannot denial the fact they that they still play an important role in the crypto community.

I would never trust again an exchange that went bankrupt. Who can assure me that it's not going to happen again? If you go bankrupt you had a really bad management, at that point just start a new clean exchange. I feel like it would be like fixing a totaled car instead of getting a new one, why would you do that? How could you trust it?

But with Bittrex, they announced bankruptcy and asked their customers to withdraw money, what did they do wrong? This case is very different from what FTX has done, so we cannot say that all exchanges are not equally reliable. What Bittrex has done is appreciable, and if they do get back up and running, I'll support them, even though I've never done business with them before. For FTX, we should definitely stay away from them even if they return all investors and reopen. There has been some news saying that FTX is planning to come back, but I hope they return investors' money and never come back.

Dr.Osh

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we know that there are several factors that cause the bankruptcy of a company, some of which are that they have lost trust or interest in consumers, and the other is that there are competing companies that offer better things than them.
in this case, crypto is still very successful today, so these companies have lost trust, interest, or even lost to their competitors. if they come back, they need to do better, as well as offer something better than before. in fact, while it's nothing special, I don't think people are going back there, or maybe just a little bit.
Until now, I'm quite comfortable using several exchanges, such as local exchanges, binance, and kucoin. if there are new or old exchanges that start operating again, I think I need something more than that until I try to use or re-use the products or services they offer.

Topic: Would you still do business with them? (Read 690 times)