I’ve recently started using Binance for buying and selling cryptocurrencies and I wanted to clear up a few doubts regarding the transactions. One question that particularly intrigued me was about the withdrawal of funds after making a deposit on Binance. I couldn’t find a specific timeline mentioned on the Binance website or the app. Is there a mandatory waiting period before one can initiate a withdrawal after completing a deposit? If yes, how long is this waiting period? I would mostly be depositing using a credit card or a bank transfer. Does the deposit method have any impact on this waiting period? Also, could you clarify if there’s any other procedure I need to follow for the same? I’m still figuring out the features and functionalities of Binance and I’d really appreciate it if someone could help me understand this better.
On Binance, the waiting period for withdrawal after deposit depends on your deposit method. For bank transfers, once the deposit is received and confirmed by Binance, which might take a few days, you can withdraw your funds immediately. But if you’re using a credit card, Binance imposes a waiting period of 10 days after you make your deposit. During this period, you won’t be able to withdraw your funds. But after this period, you can withdraw freely. Bear in mind that trading is allowed during those 10 days. This is typically done to prevent fraud and to protect both the client and the company. As for other procedures, ensure that your ID and KYC verifications are done, as they are essential for transactions on Binance.
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