It’s a complicated situation over at Yotta at the moment. The breakdown in communication between Synapse Brokerage and the connected banks have left customers unable to make card transactions, and more importantly, unable to withdraw their funds.
Synapse have filed for bankruptcy, leaving ACH (Automated Clearing House) transactions between Yotta and Evolve/Lineage banks (where the funds are held) impossible. The main problem is that the banks cannot access the accounts of Yotta users in order to release the funding.
So, how do you withdraw your funds from Yotta?
Although at the moment no agreement has been put in place, Yotta are working tirelessly to resolve the issue and get their accounts and ACH processes back up and running.
First thing’s first -
DO NOT CLOSE YOUR ACCOUNT. If you have funds in your Yotta account, it is vital that you keep your account open in order to be able to access your money. For more information on this, check out our guide to Yotta/WithYotta Accounts closed - What to do?.
Instead, follow Yotta’s usual withdrawal process in order to let them know that, as soon as is possible, you’d like your funds.
Unfortunately, it’s just a waiting game. In the meantime, regular updates are posted on the Yotta payment processing status page or you can email support@withyotta.com.
Yotta is a sort of bank, with a twist! With Yotta you have the chance to win with the funds that you hold in your account. For every $25 in the account you receive a ticket, this ticket allows you the chance to be entered into a draw for prizes each day in the Daily Contest.
With the current disruptions they’ve currently stopped these…so, are there Yotta alternatives?
Yes, and no. There are no direct alternatives for the banking aspect, however, there are sites such as Skillz and stake.us for the competition and gaming side.
Skillz is an eSports platform which allows users to compete in skill-based games for cash prizes, including head-to-head matches against other players, tournaments and leagues. There’s even an option for monetization if you’re a game developer yourself!
Another option would be Stake.us, which is a social sweepstakes casino. They offer over 500 casino-style games with the opportunity to win coins you can exchange for prizes! You’re even able to play games for free with the various promotions they offer on their virtual in-house ‘just for fun’ currency! If you’d like to check it out we have access to the promo code PROMOBOY which gives you the opportunity to get 55 Stake Cash + 260K Gold Coins + 5% Rakeback.
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