When you first start using Binance, you may be wondering why you have to wait 10 days to withdraw your funds. The answer is actually quite simple. Binance uses what is called a “rolling” withdrawal process. This means that when you make a withdrawal, the funds are not immediately sent to your bank account.
Instead, they are held in a “rolling” account for 10 days. After the 10 days have passed, the funds are then released and sent to your bank account.
The reason for this is to protect both Binance and its users. If someone were to hack into Binance and try to withdraw funds, they would only be able to do so if they had access to the 10-day rolling account.
NOTE: WARNING:
Binance requires a 10 day waiting period before users are able to withdraw funds from their account. This waiting period is in place to ensure the security of user funds and provide additional time for Binance to investigate any potential fraudulent activity. If you attempt to withdraw funds before the 10 day waiting period has elapsed, your withdrawal request may be denied and all associated fees forfeited.
This account is not accessible by anyone except for Binance staff. So, even if a hacker were able to get into your Binance account and initiate a withdrawal, they would not be able to get the funds out until 10 days had passed.
This may seem like a long time to wait, but it is actually quite fast compared to other exchanges. For example, Coinbase has a 4-8 week waiting period for withdrawals.
So, all things considered, 10 days is not that bad. Plus, once you have made a withdrawal from Binance, you can always use that same 10-day rolling period to make another withdrawal if you need to.
So there you have it! That is why you have to wait 10 days to withdraw from Binance. It may seem like a pain at first, but it is actually a very good system that protects both Binance and its users.
10 Related Question Answers Found
It seems that every time I want to withdraw my money from Binance, it takes forever. Why is this? There are a few reasons why Binance might take a while to process your withdrawal.
It’s been a little over two weeks since I first sent my withdrawal from Binance to my personal wallet. I’ve been patiently waiting for it to show up, but so far, nothing. This is starting to get really frustrating, especially since I know that other people have had their withdrawals go through much faster.
Binance is one of the most popular cryptocurrency exchanges in the world. They offer a wide variety of coins and tokens to trade, as well as a robust platform. However, one thing that has caused some confusion among users is why Binance holds funds for 10 days.
Withdrawing from Binance can take anywhere from a few minutes to a few hours. The amount of time it takes to process a withdrawal depends on the cryptocurrency being withdrawn and the amount of time it takes for the transaction to be confirmed on the blockchain. Withdrawals of cryptocurrencies that are not yet confirmed on the blockchain may take longer to process.
Binance is one of the most popular cryptocurrency exchanges, and it’s not hard to see why. It offers a wide variety of coins to trade, low trading fees, and a user-friendly interface. However, Binance has been criticized for its lack of customer service and its complicated withdrawal process.
If you want to withdraw your money from Binance, you will have to wait for a certain amount of time. The specific amount of time depends on the method that you are using to withdraw your funds. For example, if you are using a credit or debit card, you will have to wait for 1-5 business days.
There are a few reasons why your Binance withdrawal may keep failing. The most common reason is that the withdrawal address is incorrect. Make sure that you are entering the correct withdrawal address for the asset you are trying to withdraw.
It can be frustrating when you’re trying to verify your identity with a exchanges and it seems to be taking forever. Here’s a look at why this might be happening with Binance and what you can do about it. There are a few reasons why your Binance verification might be taking a while.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended withdrawals indefinitely. The move comes after a “large scale security breach” that resulted in the loss of 7,000 BTC (about $40 million at current prices). Binance says it will use its “Secure Asset Fund for Users” (SAFU) to cover the lost funds.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has stopped all withdrawals amid what it says is a “large scale” security breach. The hack appears to have been carried out through a sophisticated phishing attack. Binance says it detected “a large scale security breach” on May 7th at 02:00:00 UTC (May 6th at 10:00 PM EDT).
