Altcoins

Is the Potcoin Community Facing Issues with PotWallet?

Gautham | January 3, 2017 | 9:30 pm
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Altcoins

Is the Potcoin Community Facing Issues with PotWallet?

Gautham | January 3, 2017 | 9:30 pm

PotWallet, a wallet service for Potcoin seems to be facing some issues. According to updates on social media, few users were unable to withdraw their crypto-tokens from PotWallet.

The apparently unhappy Potcoin community has alleged that PotWallet doesn’t have enough funds to enable withdrawals. With the cryptocurrency exhibiting increased volatility in the recent days, those who have their Potcoin deposits in PotWallet seem to be unable to leverage the market opportunity.

The issues affecting PotWallet and thereby leading to the inconvenience, is not clear yet. But available information suggest that the digital currency wallet is manually processing all withdrawal orders. In few cases, PotWallet has asked its customers to contact customer care to resolve the withdrawal issues.

It is believed that PotWallet is moving Potcoin from its hot wallet to secure storage and whenever somebody requests a withdrawal, the required sum will be moved to their mentioned address. On the other hand, some suspect that PotWallet may have invested the deposits into trading with an intention of making profits.

In the absence of concrete information, there may be multiple reasons behind the alleged issue faced by PotWallet users. Few possible scenarios include technical and security issues. Until the platform makes an official announcement, one can’t jump to conclusions.

However, the platform’s customer support seems to have been helpful in few cases. It is also worth noting that that PotWallet launched its new application for Android and iOS powered devices. While the app is still in its beta version, it may have contributed to the issue as well.

Amid growing complaints, NewsBTC has reached out to PotWallet and awaiting a response from their team. Any updates received from them will be shared with the readers. Meanwhile, those who are facing issues with the wallet should contact customer support either through the contact form or a new live chat feature enabled on the website.

Ref: PotWallet | Reddit | Image: NewsBTC
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