Delays are being reported across multiple cryptocurrency platforms affecting the processing of deposits, withdrawals and traditional bank transfers, according to user reports and confirmations from exchange support documentation. The delays, which can occur at various stages of a transaction, impact both cryptocurrency and fiat currency movements.
The issue manifests as a transaction that has been initiated but has not yet fully completed. This can affect cryptocurrency deposits, cryptocurrency withdrawals, and standard bank (fiat) transfers. Crypto.com acknowledges this potential for delays in processing both deposits and withdrawals on its exchange, as well as within its mobile application for users in the United States.
While the causes of these delays are not universally specified, the process inherently involves multiple steps and validations. For cryptocurrency transactions, these include network confirmation times, which vary depending on the specific blockchain and network congestion. For fiat transfers, standard banking procedures and security checks contribute to processing times.
Users seeking to move cryptocurrency to a bank account should be aware that this process can also experience delays, according to guidance from Bitget. The transfer of crypto to fiat currency often involves intermediary steps and regulatory compliance checks, extending the overall completion time.
Alternatives to direct exchange withdrawals, such as utilizing third-party wallets, also present potential delay points. Bitget provides guidance on withdrawing from wallets like Trust Wallet, noting that these transactions also rely on exchange processing and network confirmations.
Currently, neither Crypto.com nor Bitget have issued statements attributing the delays to a specific event or system-wide issue. Support documentation focuses on outlining the standard processing procedures and potential reasons for temporary holds.
