Bitcoin debit card service WageCan has advised users it will suspend bitcoin deposits and withdrawals for three days at the end of this month. It’s a precautionary measure against disruption if the Bitcoin blockchain forks around that time.
In an advisory mailed to users, WageCan told its users to prepare for the temporary suspension in advance:
If you accept bitcoins as payments, we recommend that you stop accepting Bitcoin payments at least 12 hours before Tue Aug 01 2017 08:00:00 (China Standard time, or GMT+8), although 24 to 48 hours earlier may be safer.This will give time for all pending payments to confirm on the Bitcoin block chain before the event.
Any deposits to WageCan card bitcoin address during the above period will be transferred back to WageCan wallet when service is resumed and after confirmed by bitcoin network.
Here’s a timezone calculator to get the exact times in your region.
If cards are topped up before 30th July, users can spend the remaining balance as usual, even during the suspension period.
WageCan’s Bitcoin Debit Card Service
WageCan is an international, Hong Kong and Taiwan-based bitcoin debit card service. It offers plastic and virtual cards in USD, GBP and EUR that can be topped up with “blockchain assets”, i.e.: bitcoin.
It also provides a “daily bonus” to users, which is a share of the revenues it earns from fees. The cards operate on the international MasterCard payment network, and the service integrates with Estonia’s “e-residency” digital ID program.
Bitsonline advises all bitcoin users to be prepared at the end of July and start of August. Mainly that involves moving your coins away from online, centralized wallets and exchanges, and into wallets where you store the private keys. See our guide for more information.
Do you use a bitcoin debit card? What are you doing to prepare for 1st August? Let us know.
Images via WageCan, Pixabay