Why is Binance taking so long to withdraw?
Why is my withdrawal on Binance stuck in processing? Users may get stuck during withdrawals due to the high number of network confirmation requests or network congestion. If less than 30-60 minutes after TxID (Transaction ID) is generated, the user needs to wait for more.
However, every blockchain is different, so the amount of time required for completing the transactions may vary. For example, Binance Smart Chain may complete transactions in only a few minutes. Bitcoin, on the other hand, will take from about 10 minutes to 30 minutes to be able to mark a withdrawal as successful.
Occasionally, we may need to lock your account if you have made recent changes to it. For example, if you have reached out to our team to reset your two-factor authentication, we will temporarily disable your ability to withdraw. In these cases, please wait 48 hours for your ability to be reinstated.
Instant card withdrawals allow Binance users to instantly withdraw money from their fiat wallets directly to their credit and debit cards - as long as they have Visa Fast Funds (Visa Direct) enabled. *Visa Fast Funds (Visa Direct) is a card function that allows transactions to be processed in real-time.
- Log in to your Binance account and go to [Wallet] - [Fiat and Spot].
- Click [Withdraw].
- Under the [Withdraw Fiat] tab, select [USD] and [Bank transfer (SWIFT)]. ...
- Enter your account details. ...
- Enter the withdrawal amount and you will see the transaction fee.
Sign in to your Binance account and select the “Wallet” tab. Select “Withdraw (Fiat),” then choose the currency you wish to withdraw. Choose “Bank Card (Visa).” Enter the amount of money you want to withdraw in the “Amount” field.
In terms of Binance processing your documents and giving you a result, there is no guaranteed length of time. For the majority of routine account verifications, the process only takes a few days. Some verifications may even take a few minutes, and some may take up to 10 days.
Support clearly states that not having enough funds or misusing your wallet are just some of the reasons that led your withdrawals to be suspended. Click on the following link to learn more about this matter: Binance Risk Management and Negative Balance.
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Binance to Update the Denomination of Withdrawal Limit from BTC to BUSD.
VIP Level | 24H Withdrawal Limit (BUSD) |
---|---|
Regular | 8,000,000 |
VIP 1 | 8,000,000 |
VIP 2 | 8,000,000 |
VIP 3 | 8,000,000 |
Binance Withdrawal Fee
However, withdrawing using the BNB Chain is usually the cheapest option when using Binance. With Bitcoin, for example, the withdrawal fee using BNB is 0.000005, while using the Bitcoin blockchain itself is 0.002. With Ethereum, the BNB fee is 0.00068, and the Ethereum (ERC20) fee is 0.0016.
How do I withdraw from Binance to another wallet?
- Log into your Binance account and click [Wallet] - [Overview].
- Click on [Withdraw].
- Click [Withdraw Crypto].
- Select the cryptocurrency you want to withdraw. ...
- Select the network. ...
- Next, enter the recipient address or select from your address book list.
Binance is considered a safe exchange that allows user account protection via the use of Two Factor Authentication (2FA).
![Why is Binance taking so long to withdraw? (2024)](https://i.ytimg.com/vi/_V3eRaJ4liY/hqdefault.jpg?sqp=-oaymwEcCOADEI4CSFXyq4qpAw4IARUAAIhCGAFwAcABBg==&rs=AOn4CLC7_9pa6iMkoTjhIw-a74nWvX_z9A)
When confirmed and verified, the funds will arrive in your bank account within 3-5 business days.
"Binance routinely freezes accounts that are identified as having suspicious activity occurring in line with our security policies and commitment to ensuring that users are protected while using our platform," a company spokesman says.
No. Binance does not allow multiple accounts for an individual, because KYC will fail if someone has multiple Binance accounts.
Binance suspends its withdrawals when the wallets undergo periodical maintenance. In some cases, a database glitch or another error relating to the exchange may cause some withdrawal problems. This might then have the knock-on effect of withdrawals being suspended as these are fixed.
#BNB withdrawals are temporarily suspended due to a large volume increase causing a withdrawal backlog. Rest assured our team is working on it.
Other platforms suspending withdrawals by users have cited facing “unusual liquidity pressures” as the reason behind preventing users from taking out their funds.
Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the transaction ID (TxID) to look up the status of the transfer of your assets by using a blockchain explorer.
Automated Withdrawals
In most cases, withdrawals are almost instant and normally should take no longer than 2-3 hours to be processed. Note: Withdrawals will be sent from an address that differs from your crypto's deposit address.
How long does it take for money to transfer in Binance?
Depending on your local financial institution, these transfers can take anywhere from an instant to two business days or more.
Binance suspends its withdrawals when the wallets undergo periodical maintenance. In some cases, a database glitch or another error relating to the exchange may cause some withdrawal problems. This might then have the knock-on effect of withdrawals being suspended as these are fixed.
Binance.com is UP and reachable by us.
Support clearly states that not having enough funds or misusing your wallet are just some of the reasons that led your withdrawals to be suspended. Click on the following link to learn more about this matter: Binance Risk Management and Negative Balance.
Cryptocurrency transactions are confirmed on various blockchains, which can sometimes be overloaded. When this happens, you have to include a higher transaction fee when sending funds in order for the transaction to be confirmed faster, otherwise, it is stuck in the blockchain queue for long periods of time.
The timing of a withdrawal depends on several factors including what time of day the withdrawal request is made and the institution receiving your funds, but most withdrawals take 3 or 4 business days before the requested funds are back in your bank account.
Cashing out Bitcoin is best done via a third-party broker, over-the-counter trading, or on a third-party trading platform. You can also trade it peer-to-peer. Cashing out a massive amount of Bitcoin comes with limited restrictions on daily withdrawals.
- Step 1 – Navigate to the 'Fiat and Spot' page. Login to your Binance account, then hover over the 'Wallet' link, click on the Fiat and Spot link of the drop-down menu. ...
- Step 2 – Navigate to the crypto withdrawal page. ...
- Step 3 – Select coin and transfer network. ...
- Step 4 – Confirm the transaction.
For example, if you're depositing or withdrawing via Binance, you can check the transaction status directly on the Binance platform. Log in to your Binance account and go to [Wallet] - [Overview] - [Transaction History]. You can click on the transaction record and the TxID link to view your transaction status.
...
Binance to Update the Denomination of Withdrawal Limit from BTC to BUSD.
VIP Level | 24H Withdrawal Limit (BUSD) |
---|---|
Regular | 8,000,000 |
VIP 1 | 8,000,000 |
VIP 2 | 8,000,000 |
VIP 3 | 8,000,000 |