Bittrex Global announced on November 20, 2023, that it was winding down its operations. It sought customers to withdraw their funds in supported currency. Bittrex Global was supporting EUR and selected cryptos only at that time. However, the mechanism turned out to be frustrating since users were unable to withdraw in USD conversion.
Responding to that feedback, Bittrex Global committed to work and has come back with a more efficient alternative. Now, Bittrex Global has announced that it has enabled USD-to-USDT conversion with the digital token pegged 1:1 to the fiat currency. The last date to withdraw funds is still December 4, 2023, with previous options remaining true as valid options for withdrawal.
Simply put, customers cannot withdraw in USD, but they convert their USD holdings into USDT and withdraw funds before the deadline. It would reduce the trouble significantly, for the stablecoin is directly linked to the US dollar. It is important to note that all withdrawals are subject to the terms and conditions mentioned on the platform. This does not specifically pertain to USD-USDT conversion and withdrawal. It rather extends to every holding of all customers.
Bittrex Global has assured the community that it will cover all the conversion charges. Despite its endeavors to enhance efficacy, the community appears to be encountering challenges when attempting to withdraw its funds. Most of them have been dissatisfied with the platform’s representation of their available funds under their balance. Others have stated that they are unable to withdraw in USDT due to the $495 loss that would result from transferring to TRC20.
A response to these queries has come from Bittrex Global in a less than reassuring way. The team has said that they are unable to assist them on X, formerly Twitter. Hence, they should access the official platform and raise a valid ticket for their query.
Some users are also reportedly facing issues verifying their Bittrex Global accounts. Another issue that users are reporting is cross-chain. Users have paid for the same in the early days of November. They were asked to wait for a month; however, Bittrex Global then announced that it was winding down its operations. Users are now worried that this will affect their cross-chain funds.
Bittrex Global is not offering assistance via X, stating that this is for security reasons. Having said that, it has been recommended not to engage with suspicious links or phishing links, as they can hack their data and drain funds from wallets. All the pieces of information will only flow through the official social media handles and Bittrex Global’s website.
The company will settle rewards due under its referral program in the coming days. Any referral made after November 20, 2023, will not be entertained and, therefore, will not count toward the accumulation of rewards.
Read the full article here