Bittrex Starts Accepting Payments in USD and Reopens Memberships
Bittrex’s CEO Bill Shihara announced on the Unikrn Radio Podcast on January 31st that the Bittrex market will start trading in USD for most of its customers..
Bittrex was founded in 2013 by Shihara, who used to be a security officer at Microsoft, and two other business partners. Shihara believes that Bittrex’s success in the program is due to its founders’ experience in security and the sharing of self-photographed resumes, unlike most anonymous markets at the time.
Bittrex, in October 2016. With a sudden decision, it drew attention to its users by closing thousands of accounts without prior notice.
Maybe that’s why, Bittrex announced in December 2017 that they had temporarily stopped recruiting new users.. The reason was given as the difficulties experienced in controlling and verifying the information of new members due to the high demand, and the difficulty of the support unit in the face of intensified demands.
In the program, Shihara stated that Bittrex is an America-based market and that KYC and AML stated that they take their legal obligations seriously. He added that a large number of personnel are working to ensure this.. For a question about the old customer support issues, Shihara said that by next spring, around 20 new support teams will join, bringing the total number to 80.
Shihara also announced that memberships will be reopening soon, but stated that new memberships will have some new requirements, such as a trade deposit.. In this way, he added that they aim to ensure that members are made up of people who know what they are doing.
Saying that Bittrex is designed for more sophisticated or institutional investors rather than individual customers, Shihara added:
“Bittrex I don’t think ‘will ever become a retail store.’. Thanks to this partnership, Upbit will provide access to the liquidity they need and Bittrex will provide access to retail shops.. He also announced that many more similar partnerships are on the way in the coming months.
Shihara will hold a meeting with the US securities and exchanges commission to seek answers to the question of whether securities can be traded in futures. Seeing potential in this space under the umbrella of Bittrex or as a parallel line of business, Shihara also stated that regulation is inevitable:
“If we want Bitcoin to be known and traded by everyone, governments and institutions must do so. We need them to accept it.”
Shihara first entered the crypto world in 2011 by mining Bitcoin with computer parts found in her garage.. However, when the price of Bitcoin dropped from $60 to $6 at the time, he was discouraged and threw away his computer with all his Bitcoins. .
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