The North American trading platform Bittrex has made some policy changes in recent months. This new business vision seems to give positive results as it has managed to remain firmly within the ten most important exchanges in the world.
At the time of writing, Bittrex ranks 6th with a total trading volume of $303,518,680 in 24 hours. Quite a respectable figure for an Exchange that is continuously being updated, adding and removing pairs over time.
One controversial change was the introduction of their stablecoin TrueUSD, a competitor of the famous USD Tether that had been involved in numerous scandals of artificial emissions without any real backing. TrueUSD is an excellent alternative for users to securely “freeze” their assets with the confidence of having a stable value currency in reference to FIAT.
Other important modification made by the platform was the elimination of 82 currency pairs less than one month ago. This decision was taken as a company initiative to promote more transparent policies in the eyes of US regulators.
Another of the important changes that the company made was the unilateral restriction of the permission to use its platform by citizens living in countries that the U.S. government does not like.
This new policy affected a tiny minority of users who benefited from this service, however, it served to improve the image of the company in the eyes of the United States regulatory bodies, which had previously issued strong warnings and communications regarding their willingness to restrict the possibility of using platforms by the citizens of these countries to try to improve their quality of life.
Although this decision was criticized, the company tried to calm the rejection by stating that they would not prohibit its use to citizens living in sanctioned countries. However, given the proportion of users affected by this decision, the benefits outweigh the problems caused.
A few hours ago the exchange announced its decision to reopen the registering of new users. this was suspended as a result of a review of portfolios and general policies after having reached its max capacity.
The announcement was simple. A tweet was enough to check the level of acceptance and success of this company:
The. Wait. Is. Over. New users can once again register on the @BittrexExchange. Want to sign up? Visit https://t.co/F7hqiiZplX and don’t forget to check out our enhanced website while you’re registering for a #Bittrex account. Learn more at: https://t.co/p9XX6eERqC
— Bittrex (@BittrexExchange) April 10, 2018
However, it seems either the company failed to adapt its platform or expectations were far exceeded, as in less than half an hour they had to apologize for a crash which led to a suspension of their registering operations:
Sorry for the inconvenience. Due to an overwhelming response from new users, registration is temporarily paused. We’re working to make the necessary tweaks and reopen signups again shortly.
— Bittrex (@BittrexExchange) April 10, 2018
This measure is temporary. No substantial changes will be made but simple tweaks to support the massive traffic of users. Activities are expected to return to normal in the next few hours.
