With the Lunar New Year approaching, cryptocurrency users in Taiwan may have a need to withdraw funds from exchanges. Doo Wan reminds readers that withdrawal services may be temporarily affected by the operation hours of banks in order to comply with them. Please pay special attention to the timing!
(Prior summary:
Hong Kong Securities and Futures Commission: Exchanges that have not submitted VASP license applications by the end of the month must end their operations in Hong Kong before June.)
(Background information:
FTX promises full compensation, but victims should not rejoice too early, as it will be calculated based on BTC $16,870, ETH $1,258, and SOL $16…)
Table of Contents:
MAX Digital Exchange
XREX Exchange
BitoPro Exchange
HOYA BIT Exchange cryptocurrency exchange
With the upcoming Lunar New Year, many cryptocurrency users in Taiwan have a need to withdraw funds from exchanges in order to welcome the new year with their families and themselves. In order to help readers better understand and prepare in advance, this article will summarize the withdrawal situation of Taiwanese cryptocurrency exchanges during the Chinese New Year, including the working hours of exchanges, the withdrawal process, and the time required.
MAX Exchange is one of the preferred choices for many Taiwanese users. According to the latest announcement from MAX Digital Exchange, the exchange will be closed for the Chinese New Year from Thursday, February 8th to Wednesday, February 14th. During this period, all branches and customer service will be temporarily suspended. This means that even the messaging function of text customer service will be suspended during the Chinese New Year. Therefore, withdrawal applications that require manual review will be processed within 5 to 7 working days after the end of the Chinese New Year holiday.
In addition, MAX Exchange reminds users to pay attention to the operational hours of banks for remittance operations in New Taiwan Dollars. For New Taiwan Dollar withdrawal applications submitted after 11:00 AM on Wednesday, February 7th, the remittance process will begin on Thursday, February 15th. Therefore, if users wish to receive New Taiwan Dollars before the Chinese New Year, they should ensure that they submit withdrawal requests before 11:00 AM on Wednesday, February 7th. In addition to the timing of withdrawals, the MAX platform will not be affected during the Chinese New Year, and all functions will operate as usual.
Chinese New Year Schedule | Source: MAX
Although XREX has not issued an official announcement, Doo Wan called XREX to inquire, and it was confirmed that XREX exchange customer service will be available online during the Chinese New Year. Regarding withdrawal situations, starting from Wednesday, February 8th, the XREX exchange will temporarily suspend New Taiwan Dollar withdrawal services in order to coordinate with the banking industry, and it is expected to resume normal operations on Thursday, February 14th. In addition, the USD deposit and withdrawal services will not be affected and will continue to operate normally. Furthermore, other services provided by XREX will also operate as usual and will not be affected by the Chinese New Year holiday.
As the Lunar New Year holiday approaches, BitoPro has also announced that from Thursday, February 8th to Wednesday, February 14th, customer service will be temporarily suspended. This means that during this period, users will not be able to obtain immediate assistance or support from customer service.
In addition, BitoPro exchange specifically reminds users that, due to the need to coordinate with the banking industry’s schedule, all New Taiwan Dollar withdrawal applications submitted before 11:00 AM on Wednesday, February 7th will be considered as the final withdrawal before the Chinese New Year. This means that New Taiwan Dollar withdrawal operations set during the Chinese New Year period will be processed and credited to the account on the next working day after the long weekend.
It is worth noting that although customer service will be suspended, other platform services provided by BitoPro exchange will continue to operate normally. This includes value-added services such as “convenience store top-up” and “bank transfer,” which will not be affected by the Chinese New Year holiday.
Chinese New Year Schedule | Source: BitoPro
According to a Facebook post, from Thursday, February 8th to Wednesday, February 14th, HOYA BIT Exchange’s deposit, withdrawal, and trading functions will operate as usual. However, customer service will also be temporarily suspended during the holiday and is planned to resume on Thursday, February 15th, when customer inquiries will be processed in sequence.
It is important to note that the withdrawal service for New Taiwan Dollars will also be affected by the operation hours of banks. For New Taiwan Dollar withdrawal applications submitted after 11:30 AM on Wednesday, February 7th, the processing will begin on Thursday, February 15th in the afternoon. Similarly, the bank authentication service for new users will also be affected. All bank authentication applications submitted after 9:30 AM on Wednesday, February 7th will also be processed starting from Thursday, February 15th in the afternoon.
HOYA BIT Exchange also reminds users of its platform that if they wish to receive New Taiwan Dollar withdrawals or complete bank authentication before the Lunar New Year holiday, they should submit their requests before 11:30 AM on Wednesday, February 7th. In addition, the exchange points out that for users who deposit an amount exceeding the daily limit during the holiday, the refund process will start from Thursday, February 15th.
Chinese New Year Schedule | Source: Hoya
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