As the Lunar New Year approaches, Taiwanese cryptocurrency users may have a need to withdraw funds from exchanges. Doo-Won reminds readers that withdrawal services from exchanges may be temporarily affected to accommodate bank operating hours. Please pay special attention to timing.
(Prior briefing:
Hong Kong Securities and Futures Commission: Exchanges that have not submitted VASP license applications by the end of the month must cease operations in Hong Kong by June.)
(Background supplement:
FTX promises full compensation, but victims shouldn’t get too excited, 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
Rybit Exchange
As the Lunar New Year approaches, many Taiwanese cryptocurrency users have a need to withdraw funds from exchanges 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 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 branches and customer services throughout Taiwan will be suspended. This means that even the messaging feature of text 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 that remittance operations in New Taiwan Dollars will need to be coordinated with the bank’s operating hours. New Taiwan Dollar withdrawal applications submitted after 11:00 AM on February 7th (Wednesday) will be processed starting from February 15th (Thursday). Therefore, if users wish to receive New Taiwan Dollars before the Lunar New Year, they should ensure that the withdrawal request is submitted before 11:00 AM on February 7th (Wednesday). Apart from the need to pay attention to the timing of withdrawals, all functions of the MAX platform will operate normally during the Lunar New Year.
Lunar New Year Schedule | Source: MAX
Although XREX has not yet issued an official announcement, Doo-Won called XREX to inquire, and it was confirmed that XREX Exchange’s customer service will be available online to users during the Lunar New Year period. Regarding withdrawal situations, starting from February 8th (Wednesday), XREX Exchange will temporarily suspend the withdrawal service for New Taiwan Dollars to coordinate with the banking industry and is expected to resume normal operations on February 14th (Thursday). In addition, the deposit and withdrawal services for US Dollars will not be affected and will continue to operate normally. Furthermore, other services provided by XREX will also operate as usual without being affected by the Lunar New Year holiday.
The upcoming Lunar New Year holiday has also been announced by BitoPro. During the period from February 8th (Thursday) to February 14th (Wednesday), customer service will be temporarily suspended. This means that during this time, 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 coordinate with the bank’s working schedule, all New Taiwan Dollar withdrawal applications submitted before 11:00 AM on February 7th (Wednesday) will be considered as the final withdrawal before the Lunar New Year. This means that New Taiwan Dollar withdrawal operations set during the Lunar New Year will be processed on the next working day after the long weekend.
It is worth noting that although customer service will be temporarily 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 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), the deposit, withdrawal, trading, and transaction functions of HOYA BIT Exchange will operate normally. However, customer service will also be temporarily suspended during the holiday and is planned to resume on February 15th (Thursday), when customer inquiries will be processed in order.
Of particular note, the withdrawal service for New Taiwan Dollars will also be affected by the bank’s operating hours. New Taiwan Dollar withdrawal applications submitted after 11:30 AM on February 7th (Wednesday) will be processed starting from the afternoon of February 15th (Thursday). Similarly, the bank authentication service for new users will also be affected, and all bank authentication applications 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 on 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 February 7th (Wednesday). Additionally, the exchange points out that for users who exceed the daily deposit limit during the holiday, refunds will only be processed starting from February 15th (Thursday) to accommodate the bank’s operating hours.
Lunar New Year Schedule | Source: HOYA
According to an announcement by Rybit, the bank holidays for the Lunar New Year in 2024 will be 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, upgrading of member trading limits, as well as customer service and review services. These services are expected to resume on the next working day, February 15th.
To minimize inconvenience to users, Rybit advises users to plan and arrange related matters in advance. It is worth noting that even during the holiday, 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.
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