Time To Stop Using The Vircurex Exchange

Vircurex is one of the many digital currency exchanges around the world which has been around for quite some time. But at the same time, a few customers are complaining how the platform is seeing far less executed orders on a daily basis, and how small Bitcoin balances might be stuck while waiting for withdrawals. It looks like the time has come to move away from this exchange and look at other alternatives.

Also read: How The Bitcoin Transaction Fee Relates To Network Confirmations

Vircurex Is On The Way Out

TheMerkle_Exchange Vircurex

Truth be told, the Vircurex exchange has proven its worth to the Bitcoin community ever since the platform was created. Inf act, Vircurex was responsible or giving Bitcoin some of its value, as the platform allows for the exchange between digital currency and Linden Dollars, the in-game currency of Second Life.

Additionally, the company offers interest bearing wallets for multiple digital currencies, including Bitcoin, Litecoin, and Peercoin. To qualify, Vircurex users have to keep some funds in their account balance at all times, and interest is paid out multiple times per day.

But it looks like the glory days of this once popular digital currency exchange is completely over. Trades are occurring far less frequently, there is no customer support to speak of, and withdrawals are either processed very slowly, or not at all. Needless to say, this does not sit well with the overall Bitcoin community, as some people still have fractions of their portfolio locked in the exchange’s wallets.

Even though the Vircurex owners are still posting regular updates about the addition and delisting of certain coins, everything going on behind the scenes leaves much to be desired. Sending an email to customer support will yield in no reaction whatsoever which is entirely unacceptable for any platform handling users’ funds.

At the same time, creating a new account seems to be disabled, and resetting two-factor authentication on an existing account is not working properly either. The site remains operational, though, which means people can still deposit funds and execute trades, assuming there is anyone on the other end of the order book.

Digital currency users are at this moment advised to look for other exchange platforms, and to steer away from Vircurex until they can sort out their problems. If the site is shutting down, the owners need to post a message and take the exchange offline completely before more people lose funds.

Source: Reddit

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One Response

  1. JerrySop June 24, 2020

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