Bittrex Is Accepting New Customers

Bittrex Is Accepting New Customers

One of the heavyweights in the crypto exchange industry, Bittrex, is enabling USD trade to its users. Bittrex’s CEO himself made the announcement. During a Unikrn Radio podcast, Bill Shihara said that the exchange is soon to accept new customers on board.

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One of the heavyweights in the crypto exchange industry, Bittrex, is enabling USD trade to its users. Bittrex’s CEO himself made the announcement. During a Unikrn Radio podcast, Bill Shihara said that the exchange is soon to accept new customers on board.

The exchange is operating since 2013 thanks to Shihara and two of his ex-Microsoft colleagues. The CEO believes that his market is so successful because it is well protected and because the staff showed their personal photos at times when anonymous exchanges were prevailing.

Back in December last year the exchange stated that it is no longer accepting new customers because the network is congested. By the time the open support tickets were so much that the operators were unable to cope with them on time and to verify each profile appropriately.

Bittrex is based in the USA and this means that it is obliged to comply with KYC and AML regulations. On the other hands, this is time-consuming process that requires a lot of people taking part. This is why Shihara clarified that they are adding an additional 20 customer service providers.

While Bittrex is reopening new account applications, new users would have to please additional requirements. For example, new customers would have minimum trade deposits. Bill Shihara believes that this would guarantee that only informed and capable traders are using the platform.

The future plans of the exchange include cooperation with South Korea’s Upbit. The partnership is said to improve liquidity and give Bittrex access to a retail shop. Shihara is going to negotiate with the SEC for the future trade of securities as he sees regulations creeping in. In his opinion there only one way to have cryptocurrencies widely accepted and utilized. The only opportunity goes through official institutions adopting them.

The CEO of Bittrex has quite an extraordinary fiasco with cryptocurrencies. He started mining bitcoin in 2011 with spare computer parts. But once the price fell 10 times from $60 to $6 he got angry and threw his miners into the bin.

 

 

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