Bittrex Cryptocurrency Exchange to Shut Down in 31 Countries

Bittrex has announced on October 18 that its Europe-based international trading platform is withdrawing services from 31 countries by the end of this month.

The cryptocurrency exchange specified regulatory uncertainty as being the main reason behind the move.

However, it appears that Bittrex, originally based out of Seattle, Washington, has no presence in the vast majority of the markets affected by this seemingly large-scale withdrawal, excluding Venezuela and a couple of other countries.

As per the official announcement, traders using Bittrex International will lose all access to their accounts on October 29. Thus, the affected customers have to withdraw their deposits.

Likewise, customers must have a balance equal or higher than the minimum withdrawal limit to be able to retrieve their stash, which means that users must have at least thrice the amount in their accounts as the withdrawal fee. This rule applies to all coins and tokens.

The current withdrawal fee on Bittrex International is 0.0005 BTC, and to withdraw, users must have deposits worth at least .00150001 BTC.

So, the countries that are affected by the move are – Afghanistan, Egypt, Bosnia-Herzegovina, Botswana, Cambodia, Central African Republic, Democratic Republic of Congo, Côte d’Ivoire, Ethiopia, Eritrea, Ghana, Guinea, Guinea-Bissau, Guyana, Iraq, Laos, Lebanon, Libya, Maldives, Pakistan, Sri Lanka, Somalia, Sudan, South Sudan, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Venezuela, Yemen, and Zimbabwe.

Before getting started with the withdrawal process, customers must generate an address by using the same wallet where they would like to retrieve their deposits. Bittrex has posted a detailed how-to guide to help customers understand the process.

Thus, earlier this June, Bittrex had significantly downsized its trading options for US-based traders on the platform by delisting 42 coins and tokens, as earlier reported by BeInCrypto.

Source: bittrex.zendesk.com | beincrypto.com

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