Is the Binance US 10-day hold a common practice in the cryptocurrency industry?

3 answers

• Lamor OphmkofFeb 03, 2021 · 5 years ago
  Yes, the 10-day hold period is a common practice for Binance US. It is implemented to ensure the security and legitimacy of transactions. During this period, Binance US conducts thorough checks and verifications to prevent fraud and money laundering. Although it may seem inconvenient for traders, it ultimately helps to maintain a safe trading environment.
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• max linderNov 01, 2022 · 4 years ago
  No, the 10-day hold period is not common among most cryptocurrency exchanges. Binance US has implemented this policy as an additional security measure. While it may provide extra protection, it can also be seen as a barrier for traders who want to quickly access their funds. Other exchanges may have different security measures in place, such as two-factor authentication or withdrawal limits, to ensure the safety of transactions.
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• Jhon Kenneth LumagOct 13, 2022 · 4 years ago
  The 10-day hold period on Binance US is indeed a common practice in the cryptocurrency industry. This hold period is designed to mitigate the risk of fraudulent activities and protect both the exchange and its users. It allows Binance US to conduct thorough checks on transactions, including verifying the source of funds and ensuring compliance with anti-money laundering regulations. While it may cause inconvenience for traders, it is an important step towards maintaining the integrity and security of the cryptocurrency market.
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