Let us give you a sneak peek of what’s to come:
What’s more? By tomorrow, other new features will be unveiled. This process will take about five days to be completed. During this time, sit back, relax and enjoy the ride.
No questions have been raised for now, but the aim is to allay all fears and answer your questions before they’re asked. The Bitfxt exchange is growing bigger and as such, we keep seeking for ways to serve our customers better while being innovative.
Deposits and withdrawals were paused about 48 hours ago on the exchange due to maintenance, however, withdrawals have been enabled as at the time of this writing while deposits for Bitcoin and Ethereum only, have not been enabled. The reason for this is quite simple and not “world ending.”
Formerly, the Bitfxt exchange used a system (which only a handful of exchanges in the world use) which enabled Coinbase as our custodial wallet provider. What this mean is that deposits are moved almost immediately they’re made to prevent loss of user funds in the event of a hack. This system is currently being employed by only the top brands in the world.
The old deposit wallet addresses for those two Coins (Bitcoin and Ethereum) are no longer supported by the exchange. Withdrawals are still working and this doesn’t affect it.
However, Coinbase is now recently regulated and this been hindering our operations as initiating withdrawals from that wallet isn’t as seamless as it used to be. Think of it as a slow and inefficient process in a budding business like ours which deposits and withdrawals are constant.
In other to prevent fears, the company has started effecting plans it put in place sometime back as a contingency in case something like this happens. As of now, some mind blowing upgrades are being done on the website which will make the wait worth it. Deposits won’t be available this week, however, withdrawals are still possible. (Funds are Safe!)
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