When a wallet undergoes maintenance, both deposits and withdrawals will be temporarily suspended. In this case, in addition to choosing other networks for deposits or withdrawals, you can also set notifications to stay updated on the status of the deposits and withdrawals features.

 

 

Here’s a guide to setting up alerts for deposit and withdrawal suspensions.

 

 

Step 1: Open the Bybit App and tap on the Assets button located at the bottom of the screen. Then, select either Deposit or Withdraw.

 

 

 

 

 

 

 

Step 2: Select the coin and the temporarily suspended chain for which you would like to receive notifications. After that, tap on Set Alert.

 

 

 

To check the real-time status of your cryptocurrency deposits and withdrawals, please visit this page.

 

 

 

 

 

Common Reasons for Deposit or Withdrawal Suspension

Software or Hardware Upgrades

Bybit prioritizes the security of its platform and regularly scheduled maintenance of its wallet services to enhance them, ensuring a safe ecosystem for all users. During these upgrades, deposits and withdrawals may be temporarily suspended to ensure the system upgrades securely. Services will resume once the upgrade has been completed.

 

 

 

Hard Fork

During the implementation of a hard fork, deposits and withdrawals are typically suspended to ensure a smooth transition and to prevent any inconsistencies or errors in the blockchain. This suspension allows Bybit to ensure that all necessary adjustments are made to accommodate the new rules of the blockchain network.

 

 

 

Congestion

Network congestion occurs when there is high traffic on the blockchain network, which can slow down transaction processing. To manage this load, deposits and withdrawals may be temporarily suspended until the congestion is cleared. This type of suspension helps to ensure that transactions are processed efficiently and without excessive delays.

 

 

 

Insufficient Hot Wallet Balances

When there are insufficient hot wallet balances, transactions may be paused temporarily until the hot wallets are replenished. This measure ensures that there are sufficient funds available to process all pending deposits and withdrawals smoothly and without interruption.