As the Lunar New Year approaches, cryptocurrency users in Taiwan may have the need to withdraw funds from exchanges. Doo Wan reminds readers that the withdrawal services may be temporarily affected in order to comply with the operating hours of banks. Please pay special attention to the timing.
(Previous 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 by June.
)
(Supplementary background:
FTX promises full compensation, but victims should “not be too happy,” as the calculation will be based on BTC $16870, ETH $1258, SOL $16…
)
Table of Contents:
MAX Digital Exchange
XREX Exchange
BitoPro Exchange
HOYA BIT Exchange Cryptocurrency Exchange
Rybit Exchange
With the approaching Lunar New Year, many Taiwanese cryptocurrency users have the need to withdraw funds from exchanges in order to celebrate the new year with their families and themselves. To assist readers in better understanding and preparing in advance, this article will summarize the withdrawal situation of Taiwanese cryptocurrency exchanges during the Lunar New Year, including the working hours of the exchanges, the withdrawal process, and the required time.
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 Lunar New Year from February 8th (Thursday) to February 14th (Wednesday). During this period, all MAX stores and customer service will suspend their services. This means that even the messaging function of the text-based customer service will be temporarily unavailable. Therefore, withdrawal applications that require manual review will be processed within 5 to 7 working days after the end of the Lunar New Year holiday.
In addition, MAX Exchange reminds users to pay attention to the operating hours of banks for New Taiwan Dollar remittances. New Taiwan Dollar withdrawal requests submitted after 11:00 AM on February 7th (Wednesday) will be processed and remitted starting from February 15th (Thursday). Therefore, if users want to receive New Taiwan Dollars before the Lunar New Year, they should ensure that withdrawal requests are submitted before 11:00 AM on February 7th (Wednesday). Apart from the timing of withdrawals, all functions of the MAX platform are not affected during the Lunar New Year, and everything operates normally.
Lunar New Year Schedule | Source: MAX
Although XREX has not yet issued an official announcement, Doo Wan called XREX to inquire, and the customer service of XREX Exchange will be available to users during the Lunar New Year period. Regarding withdrawal situations, starting from February 8th (Wednesday), XREX Exchange will temporarily suspend New Taiwan Dollar withdrawal services to align with the banking industry and is expected to resume normal operations on February 14th (Thursday). In addition, USD deposit and withdrawal services will not be affected and will continue to operate normally. Furthermore, other services of XREX will also operate as usual and will not be affected by the Lunar New Year holiday.
The upcoming Lunar New Year holiday, BitoPro also announced that from February 8th (Thursday) to February 14th (Wednesday), customer service will be temporarily suspended. This means that during this period, users will not be able to receive immediate assistance or support from customer service.
In addition, BitoPro Exchange specifically reminds that, due to the need to comply with bank working schedules, all New Taiwan Dollar withdrawal requests submitted before 11:00 AM on February 7th (Wednesday) will be considered as the last withdrawal before the Lunar New Year. This means that New Taiwan Dollar withdrawal operations set during the Lunar New Year will be processed and credited on the next working day after the holiday.
It is worth noting that despite the suspension of customer service, other platform services of BitoPro Exchange will continue to operate normally. This includes value-added services such as “convenience store top-up” and “bank remittance,” which will not be affected by the Lunar New Year holiday.
Lunar New Year Schedule | Source: BitoPro
According to a Facebook post, from February 8th (Thursday) to February 14th (Wednesday), HOYA BIT Exchange’s deposit, deposit of cryptocurrencies, withdrawal of cryptocurrencies, and trading functions will operate as usual. However, customer service will also be temporarily suspended during the holiday period and is planned to resume on February 15th (Thursday), with customer replies being processed in order.
Special attention should be paid to the New Taiwan Dollar withdrawal service, which will also be affected by bank operating hours. New Taiwan Dollar withdrawal requests submitted after 11:30 AM on February 7th (Wednesday) will be processed starting from the afternoon of February 15th (Thursday). Similarly, bank authentication services for new users will also be affected, and all bank authentication requests submitted after 9:30 AM on February 7th (Wednesday) will be processed starting from the afternoon of February 15th (Thursday).
HOYA BIT Exchange also reminds users of their 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 February 7th (Wednesday). In addition, the exchange points out that for users who exceed the daily deposit limit during the holiday period, refunds will be processed starting from February 15th (Thursday).
Lunar New Year Schedule | Source: Hoya
According to an announcement from Rybit, the bank holidays for the Lunar New Year in 2024 are from February 8th to February 14th. During this period, several major services will be temporarily suspended, including bank binding settings, New Taiwan Dollar withdrawals (selling USDT) and refund services, member level trading limit increases, as well as customer service and review services. These services are expected to resume on the next working day, February 15th.
In order to minimize inconvenience to users, Rybit reminds users to plan and arrange related matters in advance. It is worth noting that even during the holiday period, certain services will continue to operate. These unaffected services include New Taiwan Dollar deposits (buying USDT), withdrawals and deposits (on-chain transfer function), registration and identity verification, as well as chatting with the editor and customer service.
Related Reports
FTX plans for full compensation, but is FTT still valuable?
Cashing out at a high point of 500 million pounds, avoiding bankruptcy… The biggest beneficiary of FTX’s collapse is actually a judo champion?
FTX’s crazy sale of cryptocurrencies? Cash reserves doubled to 4.4 billion pounds within 3 months! Hoping to raise funds to repay users.