What happens to your money when you sell on Binance?

7 answers

• Dec 28, 2021 · 3 years ago
  When you sell your cryptocurrency on Binance, the platform handles the transaction by matching your sell order with a corresponding buy order. Once the transaction is completed, the funds from the sale are credited to your Binance account balance. However, it's important to note that you cannot withdraw the money immediately after selling. Binance has a withdrawal hold period for newly deposited funds, which is typically 24 hours for most cryptocurrencies. During this hold period, you can still trade or use the funds to buy other cryptocurrencies on Binance.
  564282
• Dec 28, 2021 · 3 years ago
  Selling on Binance is a straightforward process. When you sell your cryptocurrency, Binance matches your sell order with a buy order from another user on the platform. Once the transaction is executed, the funds from the sale are added to your Binance account balance. However, you cannot withdraw the money immediately. Binance has a withdrawal hold period to ensure the security of the platform and prevent fraudulent activities. The hold period varies depending on the cryptocurrency, but it is usually around 24 hours. After the hold period, you can withdraw the funds to your external wallet or bank account.
  613205
• Dec 28, 2021 · 3 years ago
  When you sell your cryptocurrency on Binance, the platform ensures a secure and transparent transaction. Binance acts as an intermediary, matching your sell order with a corresponding buy order from another user. Once the transaction is completed, the funds from the sale are credited to your Binance account. However, there is a withdrawal hold period for newly deposited funds, which is in place to prevent unauthorized activities and ensure the safety of users' funds. During this hold period, you can still use the funds to trade or buy other cryptocurrencies on Binance. After the hold period, you can withdraw the funds to your external wallet or bank account.
  666167
• Dec 28, 2021 · 3 years ago
  When you sell your cryptocurrency on Binance, the platform handles the transaction by connecting your sell order with a buyer on the platform. Binance acts as an escrow service, holding the buyer's funds until the transaction is completed. Once the transaction is executed, the funds from the sale are credited to your Binance account. However, there is a withdrawal hold period for newly deposited funds, which is typically 24 hours. This hold period is in place to ensure the security of the platform and prevent any fraudulent activities. After the hold period, you can withdraw the funds to your external wallet or bank account.
  632127
• Dec 28, 2021 · 3 years ago
  When you sell your cryptocurrency on Binance, the platform matches your sell order with a corresponding buy order from another user. Binance acts as a trusted intermediary, ensuring a secure transaction. The funds from the sale are credited to your Binance account balance. However, you cannot withdraw the money immediately. Binance has a withdrawal hold period for newly deposited funds, which is typically 24 hours. During this hold period, you can still trade or use the funds to buy other cryptocurrencies on Binance. After the hold period, you can withdraw the funds to your external wallet or bank account.
  613103
• Dec 28, 2021 · 3 years ago
  When you sell your cryptocurrency on Binance, the platform facilitates the transaction by connecting your sell order with a buyer on the platform. Binance acts as an escrow service, holding the buyer's funds until the transaction is completed. Once the transaction is executed, the funds from the sale are added to your Binance account balance. However, there is a withdrawal hold period for newly deposited funds, which is typically 24 hours. This hold period is in place to ensure the security of the platform and protect users' funds. After the hold period, you can withdraw the funds to your external wallet or bank account.
  62890
• Dec 28, 2021 · 3 years ago
  When you sell your cryptocurrency on Binance, the platform matches your sell order with a corresponding buy order from another user. Binance acts as an intermediary, ensuring a secure and transparent transaction. The funds from the sale are credited to your Binance account balance. However, you cannot withdraw the money immediately. Binance has a withdrawal hold period for newly deposited funds, which is typically 24 hours. During this hold period, you can still trade or use the funds to buy other cryptocurrencies on Binance. After the hold period, you can withdraw the funds to your external wallet or bank account.
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