Exbet to discontinue BTC

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Updated December 16, 2022 | Published December 16, 2022

2 mins read

The company will go into maintenance mode as all its markets switch to USDT betting.

Betting exchange Exbet has announced it will discontinue supporting Bitcoin (BTC) betting from December 19.

Any BTC deposits and bets exceeding the cut-off date will no longer be possible. However, Exbet users' BTC balances will remain available for withdrawal until around June 30 2023.

Despite BTC acting as the leading cryptocurrency in the industry, Exbet is making the change “in response to customer feedback”, stating the coins' “price volatility against fiat is a disadvantage for value-conscious bettors”.

Because Exbet believes that the fiat-collateralized stablecoin USDT is the best option for its customers, the company will be put into maintenance mode for 24 hours on December 19 while USDT deposits are enabled, and all markets are switched to USDT betting.

With USDT offering its users the advantage of transacting with blockchain-based assets while mitigating price risk, Exbet stated it is a “safe, secure and proven stablecoin solution”.

Firstly, Exbet will support withdrawals and deposits of USDT as an ERC-20 token. Thereafter, the company aims to support several crypto and fiat options moving into 2023.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.
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