Bittrex exchange began to require verification of customers for the withdrawal of cryptocurrencies

Bittrex customers complain in social networks that they have problems with withdrawal and it has been going for a few weeks. Of course, every major platform periodically encounters difficulties, however, the exchange has not yet made any official statements on this account.

Twitter courts new record not seen since November 30, and page on Facebook have not been updated since the summer. Not surprisingly, users started to worry. The main reason for the problems with the withdrawal demand support for exchange verification. Most cryptocurrency exchanges only require verification for transactions with Fiat currencies, so this development has put many into a dead end.

In the article «Important information about identity verification», published on 5 December on the website of the stock exchange, said:

«We strive to ensure that our service is not used for money laundering, support of terrorism, fraud or other illegal activities».

The document exchange has charged its customers is that they don’t pay enough attention to the verification process. The article notes that «the exchange cannot meet the requirements of the regulators without the help of their customers», and lists «the most popular mistakes» made by customers.

The number of errors refers to «creating multiple accounts tied to one person or company, real name, is unreadable ID cards, non-Latin characters in ID cards and the creation of multiple requests to support.»

The article ends with the following words:

«We believe that you will support the desire Bittrex to follow the letter of the law and to operate in accordance with existing rules. We ask for your patience and cooperation throughout this process.»

You can enter – you cannot show?

It turns out that the exchange may justify the delay or denial of withdrawal because the user has not passed the verification. However, no obstacles to Deposit funds for unverified users is not. One of the customers of the exchange told Business Insider:

«This is a very serious problem. When you register on Bittrex, the exchange allows you to Deposit funds in your wallet and even to trade without verification. But then I withdraw it is impossible.»

Exchange has existed since 2014 and is based in Las Vegas, and its daily trading volumes fluctuate around $ 1 billion. Although Bittrex and has accreditation by the Association of Private Enterprises in the U.S. and Canada to support consumer rights on the Association’s website has a separate page devoted to the complaints of clients.

Users actively complain of problems with withdrawals from the exchange, noting that upon reaching a certain limit, the site does not give you withdraw money before the verification. Dissatisfied customers have created the hashtag #BittrexTrouble on Twitter, where you can find many similar stories.

Maybe Bittrex is not trying to cheat their users and simply unable to cope with the increased number of operations by the rally of bitcoin, as it was with other major players in the market, or under pressure from U.S. regulators. Users resented the sudden imposition of such requirements.

Such problems not only concern those who are unable to access their funds, but also be a justification for more strict state control and regulation.

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