New Bitcoin Wallet Address and Looking into the future – Updated

Yesterday, we took a couple of steps towards executing an infrastructure plan that we have long been considering. One of those steps was setting up a new Bitcoin node.

Following that, we are working on generating a new wallet address for you. The new wallet address will go live by 12pm (GMT+1) on Tuesday 8th December.

Once it goes live your Bitcoin wallet address will change. Here’s what you will need to know;

Can I deposit and withdraw Bitcoin?
Yes, you can deposit and withdraw Bitcoin.
However, at 12pm today your Bitcoin wallet address will change and you will need to use it for all your deposits.

When will I be able to deposit or withdraw Bitcoin?
Once the new Bitcoin wallet address goes live you will be able to deposit and withdraw Bitcoin.

What will happen to my old wallet address?
Your existing Bitcoin address will become inactive from 5pm on Tuesday, 8th December. Any Bitcoin sent to the old wallet address after that time could take up to 5 days to enter your Quidax account.

Will the Quidax website or mobile app go down at 12pm?
No, the Quidax website or mobile app will not go down.

When will I know I have a new Bitcoin wallet address?
We will send you an email once the new Bitcoin wallet address goes live.

I have saved my Bitcoin wallet address somewhere else, do I need to change it?
Yes, once the new Bitcoin wallet addresses go live at 12pm you will need to change the old one.

Will the wallet address of other cryptocurrencies change as well?
Currently, only your Bitcoin wallet address will change.

Do I need to change the wallet address of my other cryptocurrencies?
No, you don’t need to change the wallet for the other cryptocurrencies.

How do I get my new wallet address?
You just need to go to your Bitcoin wallet and click/tap on receive Bitcoin. Your new Bitcoin wallet address will show.

Why is Quidax doing all these updates now?
After reading all the above you are probably asking why is Quidax putting you through all this stress?
First, we are truly are sorry for doing this.

We are doing this is now because we found out there are a lot of things we are doing that has been ineffective. So we made a decision to start making changes to how we operate.

We have also found out that if we continue at our current pace we will be unable to compete.
Yes, we have noticed there are more crypto platforms coming up every day and we need to step up in order to be the platform you don’t just buy/sell crypto from but the one you love.

Over the next couple of weeks and months, we will be making major updates to how we operate and some of the updates may cause a disruption in service.

It’s going to be a bumpy ride and we believe you will stick it out with us.

Quidax dey for you 💜.

An update was made to this article:
We had previously said that all Bitcoin deposits and withdrawals will be paused from 9am (GMT+1) Tuesday, 8th December.
Also, we had previously said that Bitcoin sent to your old wallet address after 5pm on Tuesday, 8th December will take 3 days to enter your account.

Quidaxhttp://www.quidax.com
Quidax is an African founded cryptocurrency exchange that makes it easy for anyone to access DeFi and CeFi Our aim is to educate you about cryptocurrency. It should not be considered as financial advice. We recommend conducting your own research before deciding to buy, sell or hold any cryptocurrency.