Cryptocurrency Q&A
Why does Binance lock funds for 10 days?
Why does Binance lock funds for 10 days?
CryptoVanguard
Tue May 07 2024
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7 answers
1610
I'm somewhat puzzled about Binance's decision to lock funds for 10 days. As a trader, liquidity is crucial, and such a long lock-up period seems unreasonable. Could you explain the rationale behind this decision? Is it a safety measure to prevent fraudulent transactions or some other strategic consideration? I'd appreciate it if you could clarify this matter for me.
7 answers
SakuraFestival
Thu May 09 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures trading, and digital wallets.
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SolitudeEcho
Thu May 09 2024
This security measure aims to safeguard users' funds from unauthorized access.
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Nicola
Thu May 09 2024
It ensures that funds are not withdrawn prematurely or without proper authorization.
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CosmicDream
Thu May 09 2024
By introducing this hold period, Binance reduces the risk of funds being stolen or misappropriated.
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RainbowlitDelight
Thu May 09 2024
This measure adds an additional layer of security for cryptocurrency transactions.
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