Most cryptocurrency enthusiasts will be well aware of the problems affecting the Bitfinex and Tether platforms.Due to Wells Fargo no longer processing transactions related to these services, there is a big problem in getting funds out.For now, the money resides in iFinex’s and Tether’s Taiwanese bank accounts, with no convenient way to move funds over to the US.Now it appears this issue affects other companies as well, including BTC-E and Xapo.Ever since Wells Fargo suddenly to no longer handle transactions from iFinex’s Taiwanese bank, there has been a lot of backlash over this decision.Since the bank didn’t even try to warn iFinex or Tether – who are also affected – about this change, both companies were thrown a curveball.Many angry letters between all parties did not result in a workable solution either.iFinex had no other choice than to file a lawsuit against Wells Fargo, although that did not amount to much either.In fact, a week after filing the lawsuit, it was withdrawn without any further explanation.

This created quite an uneasy feeling among users of the exchange, especially those looking to get their money out in the form of US Dollars.What is even more disconcerting is how the exchange all outstanding debts to its customers.bitcoin phone rechargeAfter the exchange was hacked in 2016, they reduced user balances by a large amount to cover the losses.litecoin beginnerInstead, all users were issued an amount of BX tokens, representing the total amount of money owed.bitcoin fix apiBitfinex redeemed those tokens, four days after Wells Fargo stopped processing USD transfers on the parent company’s behalf.bitcoin illegal deutschlandOnce again, not a smart decision.achat bitcoin par paypal

Now it appears iFinex and Tether are not the only companies affected by the Wells Fargo decision.BTC-E, one of the oldest bitcoin exchanges, has suspended USD withdrawals until the end of the month.ethereum dice siteThe company is looking for a new banking partner but hopes to have everything resolved in the coming weeks.acheter 0 1 bitcoinXapo is also affected by this decision, although it is unclear what the company’s future plans are.bitcoin gatorIt is evident converting from cryptocurrency to fiat currency will always remain a challenge.acheter 0 1 bitcoinBanks do not like bitcoin since it is a direct competitor to their own business model.Moreover, there is a pressing question as to whether or not Bitfinex is even remotely solvent at this stage, although there is no official evidence to prove otherwise.

For now, this is a rather uneasy situation that raises more questions than answers.Welcome Xapo provides powerful development tools to easily integrate bitcoin Wallets and payments into your websites and applications.Learn about the latest development tools Xapo API You want full control and tight integration into your environment?Now you can check our OAuth2 RESTful API.To have access you need a Xapo account with verified email and cellphone.Bitcoin may be the future of digital money, but it has a big problem here in the United States: why use it to buy anything when millions of merchants already accept debit and credit cards?Today, if you want to buy a bottle of lemonade with bitcoins, you need to scan a QR code with your phone or email a long bitcoin address to the seller.For most people, buying with bitcoins just isn't as easy as Visa or MasterCard.>"You just have one card that you can use everywhere without restrictions."But that's set to change in the next two months.

Xapo, a company that offers online bitcoin wallets, says it's two months away from introducing the first debit card that will let you spend your bitcoins at any place that takes Visa or MasterCard.It's a sign of bitcoin's growing maturity, and a look at how the digital currency is slowly integrating with the mainstream financial services industry, thanks to a raft of venture-backed bitcoin startups that are now coming online.There are a few other companies that offer prepaid bitcoin cards, but some of them have a fly-by-night feel.Xapo, it seems, is the first to really link your online bitcoin wallet to a card, and–backed by $20 million in VC funding–it's on far firmer footing.Unlike others, it also operates out of the United States–though it's incorporated in Hong Kong.Here's how it works.Xapo, a bitcoin wallet provider, is in the process of becoming a debit card issuer on one of the major credit card networks.That means that, like your bank, Xapo, can issue you a debit card number and expiration date.

You get the card number for free.If you want them to send you some plastic so you can gas up or buy beer at a corner store with your bitcoins, then they'll charge you $15.When you use the Xapo card, the credit card number checks in with Xapo, which approves or declines the transaction, depending on how much bitcoin you have in your wallet.It then sells the bitcoin on the Bitstamp exchange and pays out the merchants just like any other card issuer."Youjust have one card that you can use everywhere without restrictions," says Wences Casares, Xapo's founder and a veteran of the digital payment space.You can already buy prepaid gift cards using bitcoin thanks to a company called Gyft.But Gyft's cards only work with specific merchants–Amazon or Target or Dell, for example.That's because the regulations covering cards such as MasterCard or Visa (known as "open loop" cards in the payment industry) are much more onerous than the gift card rules, says Vinny Lingham, Gyft's CEO.Gyft is a peer-to-peer gifting service that "cannot guarantee that open loop cards would not be used by international people accessing our website," Lingham says.