Crypto Industry

Deadline Approaches for Bittrex Wallet and Coin Removals

Martin Young | March 29, 2018 | 9:00 am
Crypto

Deadline Approaches for Bittrex Wallet and Coin Removals

Martin Young | March 29, 2018 | 9:00 am

Earlier this month Bittrex announced that it would be removing a number of cryptocurrencies from its platform for policy violations. The deadline of March 30 is just a day away.

In a March 10 announcement on the company blog the world’s eleventh largest crypto exchange, Bittrex, stated that it would be removing the digital wallets for 82 defunct cryptocurrencies. It has since added three more to that list which can be found on the support pages. FAIR, START and PKB will also be removed in addition to the first set of wallets and tokens.

Dead Coins Delisted

The original announcement earlier this month reminded users that;

“Once these wallets are removed, we will no longer be able to recover these coins. Users must withdraw their coins before March 30, 2018, in order to keep them.”

The company has stated that the delisted coins do not meet its strict coin listing criteria by having a properly functioning blockchain and wallet. Additionally several of them have broken blockchains or wallets that do not allow widthdrawals, which is beyond the control of the exchange.

Bittrex has provided a list of reasons for the action which include poor implementation of use cases or poor reception by community, compromised blockchain or wallet technology, token no longer supported by token the team, complaints by users or traders of the token, and limited trading volume on the exchange or potentially suspicious trading activity.

Next Generation Website Launched in Beta

In a separate announcement Bittrex stated that they were preparing to launch the next generation of their website. Customers have been invited to try out the beta version of the new platform which can be found at https://beta.bittrex.com/

The new site includes several performance, usability, and security improvements to the API. New data mining tools will be included for trading software and throttling will be implemented to prevent what it termed as ‘improper use’ which generally refers to trading bots.

Users are encouraged to report any errors with the beta version which will be launched following the testing phase. However no timeframe was given for this. At the time of writing trade volume on Bittrex is $168 million with Tron being the most popular coin over the past 24 hours.

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