What is the reason behind Coinbase's 13-day hold on fund transfers?

3 answers

• Dec 24, 2021 · 3 years ago
  Coinbase holds funds for 13 days as a security measure to protect against fraudulent activities. This waiting period allows Coinbase to thoroughly verify the source of the funds and ensure that they are not associated with any illegal activities. By implementing this hold, Coinbase aims to maintain a secure and compliant platform for its users.
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• Dec 24, 2021 · 3 years ago
  The reason behind Coinbase's 13-day hold on fund transfers is to comply with regulatory requirements. As a regulated cryptocurrency exchange, Coinbase is obligated to follow strict anti-money laundering (AML) and know-your-customer (KYC) regulations. The 13-day hold period allows Coinbase to perform thorough due diligence on the funds and ensure compliance with these regulations.
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• Dec 24, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that Coinbase's 13-day hold on fund transfers is a common practice among reputable exchanges. It is a precautionary measure to prevent unauthorized transactions and protect users' funds. This hold period allows Coinbase to conduct thorough security checks and ensure the legitimacy of the funds being transferred. Other exchanges, such as BYDFi, also implement similar hold periods to ensure the safety of their users' assets.
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