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As of the August 1 hardfork, there have been some rule changes at Bittrex. I thought I'd make you aware of one that affected me personally (and almost caused me to have a heart attack), pertaining to withdrawals. I attempted to put some money on my Bitpay Card only to be informed that I had exceeded my 24 hour limit and that I now needed something called "Advanced Verification." So I checked it out and what it required almost caused me apoplexy.
Anybody that knows me knows that I'm an Anarchist and prefer to fly below the radar, so to speak. I don't trust the government. I don't trust banks and I don't trust currency exchanges where the owners know more about me than I do about them. I'm older than most people on Steemit, hell, I remember when drivers licenses didn't have pictures. Now they're a national ID (and I choose not to have one). So when Bittrex told me of their new policy- I figured I was getting ripped off! So I began sending them emails. The first was very polite asking them to fix the problem, as I was very satisfied with the way things had been before. I got one back that was a pre-written response telling me that when I completed the advanced verification, I would be able to withdraw 100 BTC per day.
My next email was somewhat less polite and I informed them if I withdrew 100 BTC it would have to be from someone else's account. I told them my feelings about MY money... That I had intrusted it to them and I wanted it back. I could very well understand their advanced verification is I was asking for a loan, but we were dealing with something that was MINE, not theirs and furthermore I didn't feel that I should have to jump through hoops to recover my own money.
The third and forth emails I sent pretty much accused them of being thieves... and once again- I wanted MY money back. This went on over the course of a couple of days until finally a very nice gentleman named James emailed me and informed me that there was now a limit, imposed by the government, not Bittrex. This limit for accounts that do not have the advanced verification have a withdrawal limit of .025 BTC per 24 hour period.
I wanted to share this information in case you encounter the same issue that I did... perhaps it won't cause you to nearly have a nervous breakdown... or consider violent behavior (which is more my style). I hope this has been entertaining at least if not useful. I can assure you that the past couple of days have been anything but for me. My apologies to Bittrex and my undying gratitude to James for making things clear to a crazy old man.
GIF by @papa-pepper
I wrote about this a few days ago, Its very annoying
Not as annoying as losing your money though... If those people had impatiens!!!
I know, Imagine how many impatiens you could buy :)
Ooooh I feel my lust for murder rising!!!
Leave my Impatiens alone
I have a bittrex account, and government spying is a problem with all of the exchanges. I am not surprised by this, but people's pearl clutching when I say things like "decentralize" and "repeal" is hilarious.
I know, my friend! Some of us still remember Liberty!
Sometimes it feels like I'm explaining a foreign language to someone.
I get that a lot too... especially on my posts. I wonder if they even read the same post???
Even in real life! I talk about liberty topics such as executive overreach, militarism, and yes, Muh Roads! I get the usual responses of "Oh that's right-wing extremism!" or "What are you? Some kind of hippy!?"
No dichotomy there lol... A right-wing extremist hippie- Hmmmm! My background is political science (undergrad) and economics (MA). I write about politics as well. I've been enjoying writing fiction, weaving my right-wing extremist conspiracy theory into my stories. It's truth disguised as fiction. If you write the truth- nobody wants to read it. If you write the same thing as an imaginary story- they eat it up!
It has worked for Sibel Edmonds!
Gov imposed? What law did James cite? It's the criminal banksters who make up their own law. These edicts are going out all over the place. My exchange came up with the same nonsense, and after pressuring them for answers, also accusing them of being scammers (I do speak my mind), they admitted, it was their FIAT BANK who imposed the restriction, not lawful government.
There you have it, banksters - to he** with you your scams. We will not be held hostage by your sinister slave practices going forward.
Blood boiling here.
I figured the same thing... the more transactions you have to make, the more fees they can charge! I'm having to transfer $75 at a time now!
I just had a horrible experience with them. Not BItrex tho. Posted about it.
Thanks for the input - I saw something trading last night when I checked my account settings but it had said my limit was .02 BTC - ?? I wonder if it varies by user or what? I am not looking to with BTC at the current moment as my portfolio is doing nicely but I'm sure I'll want to take some cheese out soon to celebrate a little - Ya Digg?
I think it's probably the same limit .025 is what they told me. I transferred $75 (.022893) this morning. I don't think they put a limit on in house trades, maybe they do. I bought 100 units of XEL the other day, but it was only around $0.65 per.
How hard is it for you to get a text to a phone number in another country? Just create your bittrex account and report your country as something that's not a fascist police state, and those limits should relax quite a bit. If you do the basic phone verification, they go up even more. :-)
I never thought about that- I was too busy freaking out! Thanks!!!
Old friend,so what is the next course of action?
Am not cool with them stressing old people with their spy policies....
Time for the Revolution, Brother!
Bitpay is issued by Metropolitan Commercial Bank... its still a bank...i hope i didnt screw your day now..lol
Take a look at TenX, very cool card (but I think not avaliable in US) . Im the same way. I like to keep my $ of Uncle Sam radar
thanks man for the information .i have an account with them.
Just don't freak out like I did if you hit your limit. I transferred $75 today and it worked fine!
Man you gave me a mini heart attack just few days ago i had deposited 1000$ in it and now i need to transfer it all to Poloniex.
I wouldn't go to Poloniex... I read too many horror stories about them! Instead of transferring a few hundred a couple times a month- I just do a little bit everyday. It's not a problem and I REALLY don't trust Poloniex- I hear too many comments about them losing money.
you got me into thinking again.... My friend tells me poloniex is much better than bittrex plus it is ranked one of the top 5 crypto exchange site. And i do face lot of login problems every time it ask me for captcha and sometimes more annoying the captcha image doesn't shows up, so i am afraid they might lock me out of my account for several attempts some day.
I started an account with them but I read so many bad things I never used it. I do know their fees are lower, but I'd rather pay a little more and be sure to get my money. Except for the misunderstanding (which was the govt. not Bittrex) I've never had a bit of trouble. I find their service to be of the highest quality.
I was pretty shocked as well. Luckily I don't care about the government trying to get me. Would help to expose them since I "did nothing wrong".
This reminds me of when Skrill took 100€ of mine hostage until i delivered them a photo of me and my ID . I got "your account has been diabled due to safety rasons" and had to contact their support which also mostly sent automated mails.
Bittrex could have been at least much better at communicating this change.
Just buy another coin and withdraw that
Bitpay only accepts BTC
For me it is a little different. I just opened my first exchange account a few days ago. I have been hesitant about trying trading because of all of the horror stories. So when I saw the verification process on Bittrex I felt a little better because this will keep the government from closing it down and taking my money.
I did think about using an overseas exchange, but I am not trading so much that it would be worth the hassle. Maybe as I invest more.
Since I am already owned by the government, I am used to them knowing everything about me.
I try to stay as far under the radar as possible!
Well an alternative is for us just to leave our currency on our steem account in steem or steem dollars and use blocktrades.us or something like that to send to our bitpay when we need it.
I never heard of blocktrades.us... will check it out
I tested it last night. I'd save it for when you need to do a good sized transfer. I had around $6.00 worth of SBD to experiment with. I ended up getting a little over $2 to my bitpay using it. Why? Most of these places have a fee for their service and they usually say it is something like 0.001 BTC which when bitcoin was worth less than it is today that wasn't too bad. As bitcoin keeps gaining in value that fee starts to be pretty high.
At the time I am writing this BTC is $3878. So 0.001 BTC is approximately $3.88 to transfer.
So if you wait until you want to move a big chunk that $3.88 might not be too bad, but considering my test was for a $6.00 amount most of my transfer actually went to their fees.
blocktrades.us I believe was actually the first way to move steem around.
Thanks! If I have to transfer $75 with Bittrex every couple days- the fees will kill me (and make them rich!)
The bittrex fee is 0.001 BTC to withdraw.
I know... I use Bittrex a lot. I'm having a hard time with my article on Conformity. I keep changing the approach. At first I wanted it to be humorous, but now I've added the conspiracy of Cultural Marxists to use "coolness" as an attempt to undermine values. (sorry about the upvotes. I blew my voting power flagging that guys posts yesterday... when I get caught up, I'll go back)
No worries my friend. Never feel obligated with regards to me. I appreciate whatever you can do, but never expect it.
You can use blocktrades.us to send directly from steemit to bitpay without needing to go through bittrex.
So it doesn't have to be converted to BTC then?
Blocktrades.us converts from STEEM or STEEM DOLLARS to BITCOIN on the fly...
Are there any better exchanges out there? I'm kind of new to the crytocurrency market and find it very difficult to exchange coins and then store them.
A friend told me about blocktrades.us but I haven't checked them out yet. Bittrex is fine, they're trustworthy... if you don't mind the verification thing you can trade as much as you want. I like to stay under the radar so I have to do a little every day or so ($75) at a time.
I don't know much about Coinbase except they're slow. Poloniex I've been hearing a lot of bad stuff about, like they lose money, so...
Thanks I will check all those out and try to make a decision.
I'm going to check blocktrades... the guy that told me about it is a good friend and someone I trust.
If you get a chance please write about your experiences! I would love to heard how it works for you. I will start looking into blocktrades pronto.
I'm not certain what experiences you're talking about?
Oh I just meant once you use it for a little bit if you like it or not.
The only issue I have right now is this:
I transferred my funds before I read that, and now I'm just waiting for my funds... - And the sad part is, that the more time that passes, the more anxious I'm starting to get. - Will I even get my money when the wallet is online again?! :S
I believe I will, but time will tell.
I think you'll be fine. Bittrex, despite my paranoid rant, is ethical. I wouldn't worry. I did a transfer about 5AM (CDT) and it went through fine.
Yeah, I've never had any problems with them earlier, but it's 17 hours ago since I did the transfer.. So I can't help it. I worry a little. :D
Hmmm I might send them an email (it takes a couple of days to hear back) I did mine about 10 hrs ago.
Any idea @richq11 if this is just with cards or is it a new limit with all types of transfers?
I think it's just with withdrawals, but I'm not sure. I did convert $120 SBD to BTC with no problems.
Thanks alot @richq11 it must be then just with withdrawals as you said, so 0.025 is about 70 - 80 dollars I think which it something still to work with.
Yup... That's what I've been doing, transferring about $75 at a time. With BTC ove $4000 it may be a little more.
My plan exactly when it come to it thanks alot @richq11
You bet, my friend! Always happy to help.