Please be assured that CoinHako will remain operational and ready to meet your daily Cryptocurrency Trading Needs. We will not be closing down and are not facing any legal issues. The closure of our bank account is a minor setback as we brace ourselves for a more sustainable Cryptocurrency environment in Singapore, going forward. Instead, we believe that that current situation presents us with a great opportunity to improve and provide you with the best possible trading experience with Cryptocurrencies.
What Is Happening?
What we are facing is a temporary disruption to our Deposit and Withdrawal processes as a result of our local bank account closure. As mentioned in our previous posts, we are actively seeking out alternative banking arrangements locally and should have a new account up and running in the coming weeks.
Are your funds safe with CoinHako?
Absolutely.
We will just be unable to Deposit and Withdraw SGD for the time being.
Meanwhile we strongly encourage you to utilize our interim withdrawal solution for any transactions and perhaps even consider the possibility of stocking up on more cryptocurrencies.
Please refer to our previous post for more details about the Interim Withdrawal solution at: /interim-withdrawals-and-deposits/
For anyone who might have missed out, further details on the banking situation can be found at: /closure-of-sgd-bank-account/
Business as Usual
You can purchase BTC and/or ETH as per normal, with your remaining SGD. Should you require a withdrawal, you can then transfer to any external wallet or exchanges for your own processing.
Telegram AMA Session with CoinHako
Join the Coinhako team on the Telegram CryptoSG chat (https://t.me/CryptoSG) for an AMA session on 19 September 2017, Tuesday 4.30pm to 6.30pm, Singapore Time (UTC +8) to address some of the concerns from the local community.
Disclaimer: Please note that this post is purely informational. Should you have any further enquiries please do not hesitate contact our support team at hello@coinhako.com.
