Is the 10-day hold on Binance.us a common practice in the cryptocurrency industry?

7 answers

• Jan 12, 2022 · 3 years ago
  Yes, it is a common practice for many cryptocurrency exchanges to have a hold period on withdrawals. This is done for security reasons, as it allows the exchange to verify the legitimacy of the withdrawal and prevent fraudulent activities. The length of the hold period may vary between exchanges, but a 10-day hold is not uncommon.
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• Jan 12, 2022 · 3 years ago
  No, a 10-day hold on withdrawals is not a common practice in the cryptocurrency industry. Most exchanges have shorter hold periods, typically ranging from a few hours to a few days. Binance.us's 10-day hold period may be longer than what is considered standard.
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• Jan 12, 2022 · 3 years ago
  From my experience at BYDFi, I can confirm that a 10-day hold on withdrawals is not a common practice in the cryptocurrency industry. While some exchanges may have longer hold periods for certain transactions, a 10-day hold is relatively rare. It's important for users to be aware of the specific withdrawal policies of each exchange they use.
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• Jan 12, 2022 · 3 years ago
  Having a 10-day hold on withdrawals can be frustrating for users who want quick access to their funds. However, it's important to understand that exchanges implement these hold periods to ensure the security of funds and prevent unauthorized access. While a 10-day hold may seem excessive, it's ultimately a measure taken to protect users and the exchange itself.
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• Jan 12, 2022 · 3 years ago
  While Binance.us may have a 10-day hold on withdrawals, it's worth noting that not all exchanges follow the same practice. Some exchanges prioritize faster withdrawals and have shorter hold periods. It's always a good idea to compare withdrawal policies across different exchanges to find one that aligns with your preferences.
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• Jan 12, 2022 · 3 years ago
  A 10-day hold on withdrawals can be seen as a cautious approach by Binance.us to prevent potential security breaches. While it may inconvenience users who want immediate access to their funds, it's important to remember that security should be a top priority in the cryptocurrency industry. By implementing a longer hold period, Binance.us aims to protect its users and maintain the integrity of its platform.
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• Jan 12, 2022 · 3 years ago
  In general, a 10-day hold on withdrawals is not a common practice among reputable cryptocurrency exchanges. Most exchanges prioritize faster withdrawals to provide a better user experience. However, it's important to note that each exchange has its own policies, and it's always a good idea to review them before making any transactions.
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