For an exchange like bittrex, I do not see why I would do business with them if they get back in business, bittrex has a great reputation as a crypto exchange, I remember like the op said, they were one of the biggest exchange before the emergence of Binance, why many of this OG exchanges allowed binance to take the crown from them, I really don't know, but the fact remains that bittrex is a great exchange, and I will do business with them, as long as they didn't steal money from their customers.
And besides, it's the US arm of bittrex that filed for bankruptcy, not the global version, if the global version of bittrex file for bankruptcy, that would have cost a lot of unrest in the crypto market.
Topic: Would you still do business with them? - page 5. (Read 685 times)
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
The trust issue is that when broken it can not be replaced or amended, but then we have to consider several things in all the exchange's bankruptcy which is the nature at which their handle customers' refunds, and the cause of the bankruptcy because exchanges have been under regulation attack for a while now most especially cryptocurrency exchanges.so for that like bitterness that made a clear declaration of their intended closer and given customers enough time to withdraw the funds and also a promised refund to customers that failed to meet the deadline.
This indicates that the exchange can be trusted with customers' funds and if they could make a comeback, there is a high possibility for them to get the clients back.
This indicates that the exchange can be trusted with customers' funds and if they could make a comeback, there is a high possibility for them to get the clients back.
It's important to stay informed: Bittrex has had separate US and Global exchange platforms for over two years now. It's the US exchange that is claiming bankruptcy, not the Global exchange. Many believe that the US government's unfavorable stance towards cryptocurrency may hinder its potential for growth, causing the country to miss out on the tax revenue and other benefits the industry could offer in the future. If this continues, there's a possibility that the US may try to retaliate when they see other countries profiting from the cryptocurrency space.
On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.
This exchange is even fair to its users by informing them to withdraw their funds before the specified date, unlike others who simply went bankrupt and went with people's funds without a refund; however, just because they inform their users to withdraw their funds does not make them special.Quote
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.
Traders are drawn to centralized exchanges because it is simple to trade on them. However, some argue that due to Bitcoin Network congestion and high transaction fees, most people will shift their focus to altcoins; now that the exchanges are going bankrupt, who else can trust them? I believe we should just keep faith and hold our Bitcoin. 
This is a story that repeats itself and will continue for a long time. The centralized are greedy scammers who have no heart and think only of their business so why should I help their pockets with a means of payment that expresses the concept of freedom? If you are smart, you will continue to accumulate Bitcoins but above all you will have to commit yourself to giving birth to a circular economy in your city, only in this way can mass adoption take place.
Actually they were kind enough to tell people to withdraw their funds from the exchange but this goes to still repeat that it’s very risky to leave your funds on exchange, sad to see an exchange filling for bankruptcy but what’s the reason for bankruptcy going by the way FTX went bankrupt and the mismanagement of funds it draws attention also to this case.
I would not Trust and do business anymore with a crypto-currency exchange that has gone bankrupt, I won’t do business with a centralized exchange because I don’t believe in the centralized system.
I would not Trust and do business anymore with a crypto-currency exchange that has gone bankrupt, I won’t do business with a centralized exchange because I don’t believe in the centralized system.
On May 8th the crypto community was greeted with the news that Cryptocurrency exchange Bittrex filed for bankruptcy. It was one of the biggest crypto exchanges to exist before Binance. It joins other crypto exchanges like FTX, platforms Celsius Network, Voyager Digital, Three Arrows Capital and BlockFi that filed for bankruptcy in 2022. Unlike FTX, Bittrex informed her customers to withdraw their funds before April 30th and even those who didn't would still be able to get their funds back in full.
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.
. https://www.thestreet.com/investing/cryptocurrency/big-crypto-exchange-goes-bankrupt#:~:text=Besides%20FTX%2C%20platforms%20Celsius%20Network,BlockFi%20went%20bankrupt%20in%202022.
Quote
In April, Bittrex told its U.S. customers to withdraw their funds by Apr. 30, when the company shut down its operations, according to its website. For customers who didn’t withdraw by the end of last month, Bittrex said on Apr. 8 that their funds "remain safe and secure” and that its top priority is to ensure that they are made whole.
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.
. https://www.thestreet.com/investing/cryptocurrency/big-crypto-exchange-goes-bankrupt#:~:text=Besides%20FTX%2C%20platforms%20Celsius%20Network,BlockFi%20went%20bankrupt%20in%202022.
Jump to: