Why can't i withdraw from Binance?
Users cannot withdraw USD without first converting it to stablecoins or another digital asset. Binance US notified users of the update via email and provided detailed instructions.
Log in to your Binance account. Click on the [Wallet] button in the top right corner of the page. Select [Spot]. Click on the [Withdraw] button next to the cryptocurrency you want to withdraw.
"Withdrawal suspended" is a common error message that users may encounter when trying to withdraw funds from Binance. There are a few reasons why you might see this error message, such as network congestion, server downtime, or a temporary maintenance issue.
In terms of withdrawal time, it can vary depending on the cryptocurrency and the network congestion. However, Binance typically processes withdrawals within 30 minutes. If you've made a withdrawal and the status is still marked as "Pending," it's best to contact Binance customer support for assistance.
Oct 17 (Reuters) - The U.S. unit of cryptocurrency exchange Binance has halted withdrawal of dollars by its clients from the platform, its updated terms showed on Monday. In early June, Binance.US had halted dollar deposits, after the U.S. Securities and Exchange Commission (SEC) asked a court to freeze its assets.
Withdrawing funds to a bank account is a common practice for many users. First, navigate to the fiat and spot page on the Binance website, where you'll find your fiat balance. Select the currency you wish to withdraw, and choose the bank transfer option from the drop-down menu.
- Go to 'Wallet' and tap 'Withdraw'.
- Choose 'USD US Dollar' from the withdrawal options.
- Select your ACH account, enter the amount, and preview the transaction.
- Verify the details and confirm the withdrawal.
- Enter any required Authentication Codes.
“Binance's and Zhao's willful violations of anti-money laundering and sanctions laws threatened the U.S. financial system and our national security, and each of them has now pleaded guilty. Make no mistake: when you place profits over compliance with the law, you will answer for your crimes in the United States.”
When your Binance account is locked with pending transactions, it means that there are one or more transactions on your account that are yet to be completed. This can happen for various reasons, such as insufficient funds, incorrect wallet addresses, or technical issues on the Binance platform.
If you cannot pass the verification, go to the Withdraw Crypto page and click [Withdraw appeal] on the alert, then submit the required documents. Alternatively, go to [Wallets] on the Binance app and tap [Spot] - [Withdraw]. You'll see a pop-up window. Tap [Appeal] and follow the instructions.
Does Binance hold your funds?
Binance holds all of its clients' crypto-assets in segregated accounts which are identified separately from any accounts used to hold crypto-assets belonging to Binance. Binance uses Binance's own wallet infrastructure to safeguard user assets and Binance's own assets.
You can withdraw with your Bank Card (Visa or MasterCard). There are also Other Payment Options, which include bank transfers and currency-specific options. Withdrawals incur a 1.8% fee. If you use the bank card option, you must add a new card by filling in your card details.
The time it takes to receive a withdrawal from Binance can vary depending on several factors, including the cryptocurrency being withdrawn, network congestion, and the processing time of the exchange.
The SEC has accused Binance, Zhao and the exchange's U.S. arm of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
Depending on the reason for the shutdown, Binance could face legal actions, asset freezes, or hacking attempts that could jeopardize the security and availability of the funds. Users who store their crypto assets on Binance would risk losing their money or having to wait for a long time to get it back.
Can you transfer money from binance to your bank account? Sure! Withdrawing money from Binance is a relatively straightforward process, but it's always a good idea to double-check that you're following the correct steps to avoid any potential issues.
- Step 1 – Head to the 'Fiat and Spot' section of Binance website. ...
- Step 2 – Find the fiat withdrawal page. ...
- Step 3 – Choose your fiat currency. ...
- Step 4 – Validate the withdrawal.
Binance and PayPal have integrated their platforms to enable users to transfer funds between their respective accounts. This feature has simplified the process of withdrawing money from Binance, allowing users to easily access their funds through their PayPal accounts.
There will be no option for cashing out in US currency. To withdraw dollars, users must first convert their funds to another digital asset or stablecoin. Binance US notified users of the update via email and provided detailed instructions for the new procedure.
Additionally, Binance's terms of use state that US residents are restricted to Binance.US. We are against illegal trading activities or using VPNs to circumvent local regulations. Since our listed VPNs won't log or share your data with anyone, you are responsible for following government rules.
What happened with Binance?
Changpeng Zhao, founder of Binance, the world's largest cryptocurrency exchange, agreed to resign from the company and plead guilty to money laundering on Tuesday.
The reason why US citizens are not allowed on Binance in the USA is due to regulatory compliance. Binance, as a cryptocurrency exchange, must adhere to the regulations and laws set by different countries, including the United States.
Binance is legal in the U.S. However, the U.S. version has fewer features than the full website includes.
Availability to all U.S. Residents
Binance.US is available to most residents of the United States. However, the platform is still restricted to residents in New York, Hawaii, Texas and Vermont. To truly serve U.S.-based residents to the best of its abilities, Binance.US would ideally be available in all 50 states.
We need to lock it to protect your funds. You may have recently interacted with a known scammer. We want to protect you from that. You have a potential nexus to a sanctioned individual or an entity, or live in a sanctioned location.
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