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PSA: Bittrex is shutting down US operations

12M ago
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bearish:

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Last Friday, Bittrex announced that they will be shutting down US operations effective April 30, 2023 at 12PM PDT/3PM EDT.

First things first

If you hold Siacoins, any other cryptocurrency, or any fiat in your Bittrex wallet you need to move those funds out to a safe account that you control. I never miss an opportunity to remind folks — not your keys, not your crypto. Keeping cryptocurrency in an exchange wallet is one of the easiest ways to lose it. Fortunately, Bittrex has provided ample time for you to transfer your funds, so make use of this opportunity.

A little closer to home

Now that that’s out of the way, I’d like to talk about how this affects The Sia Foundation and our users.

The loss of Bittrex is an unfortunate event for Sia users in the United States. Bittrex provided a reliable way to get Siacoins so users could use them for their purpose of purchasing and renting storage on the Sia network. It was also the second largest exchange for trading Siacoins by daily volume, so a not-insignificant amount of users will be affected.

Fortunately, Kraken is still available for US users. Kraken is consistently the most-used US exchange for trading Siacoins by daily volume, and has been a reputable resource for the community. For now, we recommend that Sia users in the US create a Kraken account for acquiring Siacoins to rent storage.

The Foundation is also looking into options to expand the footprint of US exchanges that offer Siacoins. We’ll have more info on this as it becomes available.

Links and info

Learn how to set up our official Sia wallet, and follow these steps to make an address to transfer your Siacoins over.

A full timeline of the Bittrex shutdown can be found here.

For any other questions, please reach out in our Discord.

Sia is a blockchain-based storage network that allows users to store their files in a fully decentralized way that is safer and less expensive than traditional centralized options.


PSA: Bittrex is shutting down US operations was originally published in The Sia Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

12M ago
bullish:

2

bearish:

0

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