When it comes to cryptocurrency exchanges, one of the biggest and most popular names in the space is Binance. The company has built up a large user base and reputation over the past few years, making it a go-to choice for many when it comes to buying and selling digital assets.
However, like all exchanges, Binance is not without its faults. One common complaint from users is that Binance takes a long time to process withdrawals. So how long does Binance actually take to process a withdrawal, and what can you do to speed up the process?
As stated on their website, Binance processing withdrawals “within 10-20 minutes.” However, this is far from the truth in practice, as many users have reported waiting hours or even days for their withdrawals to be processed. So what’s the deal?
The main reason for the delay is due to the fact that Binance processes all withdrawals manually. That means that a real person needs to review each withdrawal request before it can be approved and sent out.
This manual process is in place to help protect users from fraud and security breaches, but it unfortunately also leads to significant delays in processing time.
There are a few things you can do to try and speed up the withdrawal process on Binance. First, make sure that you have completed all of the required account verification steps.
The more verified you are on the platform, the higher priority your withdrawal request will be given.
Next, try withdrawing during off-peak hours. Withdrawal requests made during times when the Binance team is less busy are more likely to be processed faster than those made during peak times.
Finally, if you’re still experiencing delays, you can try reaching out to Binance customer support for assistance. Keep in mind that they will likely be very busy so it may take some time to get a response.
All in all, while Binance withdrawals can sometimes take longer than expected, there are a few things you can do to try and speed up the process. Just be patient and eventually your withdrawal will go through!.