{"id":18330,"date":"2023-03-04T19:19:57","date_gmt":"2023-03-04T19:19:57","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bybit-halts-us-dollar-deposits-via-bank-transfer-due-to-service-outages-from-partner-bitcoin-news\/"},"modified":"2023-03-04T19:19:57","modified_gmt":"2023-03-04T19:19:57","slug":"bybit-halts-us-dollar-deposits-via-bank-transfer-due-to-service-outages-from-partner-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bybit-halts-us-dollar-deposits-via-bank-transfer-due-to-service-outages-from-partner-bitcoin-news\/","title":{"rendered":"Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited \u201coutages\u201d from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network.<\/strong><\/p>\n

Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10<\/h2>\n

The cryptocurrency exchange Bybit, founded in 2018, announced<\/a> on Saturday that it is suspending U.S. dollar deposits. \u201cBybit has suspended USD deposits via bank transfer due to service outages from our partner,\u201d the company said. \u201cEffective immediately, USD deposits via wire transfer (SWIFT) and wire transfer (for U.S. bank) are no longer available.\u201d<\/p>\n

Bybit noted that customers can continue to make U.S. dollar deposits via the Advcash wallet or with a credit card. Bybit clients will still be able to make withdrawals via wire transfers through SWIFT and U.S. banks until March 10, 2023. \u201cIf you wish to withdraw USD at short notice, please do so as soon as possible to avoid potential disruptions that may occur due to prevailing circumstances,\u201d the cryptocurrency exchange announced.<\/p>\n

The Dubai-based cryptocurrency exchange said it would launch an Advcash wallet withdrawal service to expedite the user experience. \u201cPlease rest assured that the USD assets you hold in Bybit are safe and secure,\u201d Bybit said. \u201cOur platform has undergone strict security measures to ensure the safety of all user funds.\u201d Bybit did not disclose the identity of the partner experiencing outages.<\/p>\n

The news from Bybit follows a similar situation<\/a> that occurred with Binance, the world\u2019s largest cryptocurrency exchange by trade volume. During the first week of February 2023, Binance announced it was halting U.S. dollar deposits and withdrawals. The development comes at a time when U.S. banks are reducing their exposure to cryptocurrency assets due to recent issues<\/a> with Silvergate Bank<\/a>.<\/p>\n

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Advcash wallet<\/a>, Bank Transfer<\/a>, Binance<\/a>, Blockchain<\/a>, Bybit<\/a>, Credit Card<\/a>, crypto traders<\/a>, Cryptocurrency Assets<\/a>, Cryptocurrency Exchange<\/a>, Decentralized<\/a>, Digital Assets<\/a>, Dubai-based<\/a>, Exposure<\/a>, Financial Technology<\/a>, future<\/a>, Global Markets<\/a>, Impact<\/a>, partner<\/a>, platform<\/a>, regulatory landscape<\/a>, safe<\/a>, secure<\/a>, security measures<\/a>, service outages<\/a>, Silvergate Bank<\/a>, Swift<\/a>, trade volume<\/a>, U.S banks<\/a>, U.S. dollar deposits<\/a>, user experience<\/a>, user funds<\/a>, Virtual Currency<\/a>, Withdrawals<\/a><\/div>\n<\/div>\n

What do you think the impact of U.S. banks reducing their exposure to cryptocurrency assets will be on the future of cryptocurrency exchanges? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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