What to do when Bitcoin exchanges cant withdraw USD?
Apr 16, 2017, 8:51:13 AM Published By Wirex Team
Wells Fargo Bank recently decided to suspend the bank account used by popular Bitcoin Exchange Bitfinex. Why? Perhaps because Wells Fargo feels the pressure... Traditional banking is under threat from the bitcoin revolution and theyll find any excuse to push back by creating negative news about our industry. Whats strange here though is that Wells Fargo apparently offered no excuse, no reason at all, for suspending the Bitfinex bank account. And despite this negative news for bitcoin, the bitcoin price was not adversely affected. In fact, the price has gone up! This shows the increasing resilience and strength of the bitcoin network, and the future is bright. However: If you have bitcoin on an exchange such as Bitfinex, what can you do to:
- a) withdrawal money in USD back to the US while Bitfinex resolves this situation (probably by finding another bank to do business with), and
- b) how can you future-proof your bitcoin by withdrawing money at a moments notice?