Bittrex Shuts Down
On June 29th, 2020, the cryptocurrency exchange Bittrex announced that it would be shutting down its operations. All trading and deposits were halted on July 5th, with withdrawals continuing until August 5th. This sudden shutdown of the popular crypto-exchange has left many users in shock and confusion as to why such a large company could just up and close without much warning or explanation.
At this time there is no clear reason why the service was shut down so suddenly; however some speculate that regulatory issues may have been involved due to increasing scrutiny from various governments around the world regarding digital assets. As of now, there is not enough information available to confirm these rumors but they remain unconfirmed for now. However what we do know for sure is that all customer funds will remain safe during this process as Bittrex stated in their official announcement: “We are committed to ensuring user accounts remain secure throughout our closure.”
It appears that customers who had open orders at the time of closure will receive refunds over a period of several weeks following August 5th according to an email sent out by Bittrex directly after announcing their closing plans; although exact details about how long this refunding process will take have yet to be revealed officially by either party thus far. The same goes for any other questions related specifically to withdrawal fees or account balances which still need clarification before being answered definitively by either side involved in this situation..
In light of recent events surrounding Bittrex’s unexpected shutdown many people are looking towards alternative exchanges like Coinbase Pro or Kraken as potential replacements going forward – both companies offer similar features & services (albeit lacking certain advanced aspects) while having higher levels of regulation than most competitors within industry overall making them more attractive options moving into future times ahead regardless if you’re new trader entering market today or experienced veteran seeking switch away from once beloved platform prior mentioned herewithin article above .
