Customers of a major U.S. bitcoin and cryptocurrency exchanges Bittrex, Express concern in different online communities, forums and social networks on Bitcoin, due to long-term problems withdrawing funds .
Problems with the verification in Bittrex and their solution
A few users said that for almost a month could not be withdrawing funds from cryptocurrency trading platform Bittrex. The reasons for this delay users not explained.
One of the customers Bittrex claims that problems and delays withdrawals from Bittrex platform appeared due to problems with verification. Like any other regulated bitcoin exchange, Bittrex are different terms of trade, enrollment, and withdrawal. To increase the daily limit on the withdrawal traders are required to provide official identification documents, passport data, photos and other sensitive information.
However, due to the sharp increase in user base Bittrex and jump in the number of requests for verification, many regular users now account for up to one month to increase the daily trading limit and completion of the verification of the account.
“The next step is to request support. It is made up. My request support has been viewed 6 November, and since then no response from Bittrex followed. It’s been almost 30 days. Many times I have updated the query, but this does not lead to anything,” — said in an interview with Business Insider trader Bittrex.
Earlier, a spokesman for Bittrex told Business Insider that the company uses different solutions to simplify the verification process and rapid increase in the daily trading limit for users.
He also noted that the company has contacted all users and traders who are faced with the problems of verification:
“Recently, the exchange Bittrex is more explained in detail to clients experiencing problems in the system that is currently being update verification procedures. Also are the reasons for the possible impact of this process on some accounts. Only a small percentage of our users have encountered delays in resolving problems with their accounts, and we recently expanded the staff to respond more quickly,” said press Secretary Bittrex.
29 Nov founder Bittrex Rami Kavach announced the completion of the updates of the internal system Bittrex, which was conducted in the framework of the problem the dramatic increase in the number of users and queries in support of the trading platform.
“Due to an unprecedented increase in user base and number of queries support we decided to upgrade our internal system. We’re trying to minimize the interruptions in trade, but short-lived blackouts of services in all markets is inevitable,” wrote Rami.
In the near future to cope with a significant increase in user base, the team Bittrex is planning to launch additional updates and improvements to the domestic system.
Other exchanges have also faced similar problems
In may 2017 well-known bitcoin blogger and trader WhalePanda said that he was more than a month had to wait for verification on another major exchange of bitcoins and other cryptocurrencies from San Francisco- Kraken.
“The month I waited for verification to level 3 on the Kraken,” wrote WhalePanda. Tech support Kraken replied that the verification team is behind in processing applications because of the influx of requests for verification and increase of the daily limit.
CCN asked for a comment to Bittrex, but at the moment the response is received.
Over the past few weeks, the exchange Bittrex hired a veteran of Amazon’s Jim Vasaka worked for the previous 12 years as Executive Director and former Deputy General counsel of the Department of homeland security United States Kieran Raja to the post of Director on strategic issues to optimize the process of verification of statements of users and to improve the coherence of the platform’s work.
15 Dec CEO Bittrex bill Shihara said:
“Our mission is to create the most reliable crypto currency exchange in the world, and the rich experience of our new employees will become the basis for achieving this goal. They will act in accordance with the unwavering commitment to creating a safe and regulated trading environment. This will create more opportunities for the blockchain technology and the development of Finance and security in the future.”