9 Major Crypto Exchange Withdrawal Limits!
Knowing how much you can withdraw from your account is crucial when trading cryptocurrencies. Each crypto exchange has rules about how much you can take out. It can change based on how verified your account is and how much you trade.
Our team of Crypto Accountants has researched this in detail. This guide will explain some major exchanges' crypto exchange withdrawal limits.
What Are Withdrawal Limits?
Withdrawal limits explain the maximum amount of cryptocurrency or money one can withdraw from an exchange account over some time.
The exchange puts the limits in place to allow for improved risk management and security. These can be dependent on the kind of account one holds and based on how much verification has been done.
Why do Withdrawal Limits Matter?
Identifying withdrawal limits as the main characteristic when controlling cryptocurrency transactions is significant. The following explains in detail why these limits are applicable:
Security
The withdrawal limit protects your account from fraudsters and theft. The withdrawal limit will provide a barrier when the hacker has accessed your account. It may restrain an individual from fully emptying your account.
Planning
Knowing your limits helps you to plan larger transactions. If you have to transfer a large sum of money or cryptocurrency, knowing your limits enables you to understand how to do this correctly.
Compliance
Withdrawal limits ensure one complies with the exchange's regulations, rules, and relevant financial authorities.
They have these limits simply to follow the AML and KYC policies. It stops the chances of money laundering and other illegal activities by closely monitoring all transactions.
Withdrawal Limits for Major Exchanges
Here is a simple breakdown of the withdrawal limits for popular crypto exchanges:
1. Binance
Basic Verification: You can withdraw up to 0.06 BTC per day.
Intermediate Verification: You can withdraw up to 100 BTC per day.
2. OKEX
Standard Users: Withdraw up to 10 BTC per day.
KYC Verified Users: Withdraw up to 100 BTC per day.
Higher Limits: Available for users with high trading volumes or additional verification.
Read More: 9 Benefits of Using OKS for Your Crypto Dealings
3. HTX
Basic Verification: Withdraw up to 0.1 BTC per day.
Advanced Verification: Withdraw up to 100 BTC per day.
Special Cases: Higher limits can be applied based on trading volume and account activity.
4. Kraken
Intermediate Users: Withdraw up to 500k USD per day.
Pro Users: Up to 10,000,000 USD per day.
5. Coinbase
Standard Users: Withdraw up to 25,000 USD per day.
Higher Limits: Available for users who have completed advanced verification and have a history of high-volume trading.
6. Bybit
Basic Users: Withdraw up to 2 BTC per day.
KYC Verified Users: Withdraw up to 100 BTC per day.
VIP Users: Higher limits are available based on trading volume and account status.
7. KuCoin
Basic Verification: Withdraw up to 2 BTC per day.
Advanced Verification: Withdraw up to 100 BTC per day.
VIP Program: Higher withdrawal limits based on trading activity and account status.
8. Poloniex
Unverified Users: Withdraw up to 2,000 USD per day.
Verified Users: Withdraw up to 25,000 USD per day.
Higher Limits: Available for users with extensive trading histories and further verification.
9. Bitmart
Basic Verification: Withdraw up to 0.1 BTC per day.
KYC Verified Users: Withdraw up to 100 BTC per day.
Special Cases: Higher limits can be requested based on trading volume.
How to Maximize Your Withdrawal Limits?
There are various ways of increasing your limits, such as:
1. Do KYC Verification
KYC stands for "Know Your Customer." It is a verification process that exchanges use to identify customers, ensuring you are not involved in illegal activity.
This process typically entails the submission of your identification documents and proof of address. How it Works:
Documents to be Submitted: You will be asked to provide documents, such as a government-issued ID like a passport or driver's license, and proof of address, which may include a utility bill or bank statement.
Verification Process: The exchange is supposed to verify your documents for authenticity to ascertain that you are yourself. Depending on the exchange, this process may take a few hours up to several days.
Benefits
Higher Limits: The withdrawal limits often go high with your KYC being done. You can withdraw more money or cryptocurrency from your account.
Increased Trust: Doing the KYC instills confidence in you in exchange for better service and more features.
2. Increase Your Trading Volume
Trading volume is the sum of the cryptocurrency you buy and sell over a certain period. Many exchanges reward high-volume traders by offering better withdrawal limits. Here’s how it works:
Trade More: The more one is trading, the higher the trading volume will be. You achieve this when you make more transactions or execute larger trades.
Volume Tiers: Depending on trading volume, some exchanges have different levels or tiers. Higher tiers have better withdrawal limits.
Benefits
Better Limits: A higher trading volume allows for better daily or monthly withdrawal limits.
Features Unlocked: High-volume trading offers lower trading fees or more advanced trading tools.
3. Become a Member of VIP Programs
In appreciation for high-value or high-activity users, many exchanges grant them VIP programs with higher withdrawal limits and lower fees. Sometimes, even exceptional support, yes!! One can only hope to be luckier with these.
Here’s how it works:
VIP Tiers: Depending on your account activity and status, most exchanges have several VIP levels. The higher the level, the better the benefits.
Requirements: To qualify for a VIP program, you must meet some threshold criteria based on the trading volume or holding a certain amount of the native token of the exchange.
Benefits
Higher Limits: In most cases, the VIPs have higher withdrawal limits.
Additional Perks: Most of the VIP programs offer other privileges, too, such as priority support, exclusive offers, and reduced trading fees.
Final Thoughts!
Knowing the withdrawal limits of your crypto exchange helps you manage your transactions better. Each exchange has its rules and limits, so check the details for your exchange.
Completing verification processes and participating in VIP programs can help you increase your withdrawal limits.
For more information related to crypto tax, contact the Crypto Accountants.
Frequently Asked Questions (FAQs)
How much money can I withdraw from crypto?
The amount you can withdraw depends on the exchange and your verification level. Higher verification levels usually mean higher withdrawal limits.
Can you withdraw money from a crypto exchange?
Yes, you can withdraw money from most exchanges. The exchange’s policies and your account status may limit the amount.
Can I withdraw 1 million from crypto?
You can withdraw large amounts, like 1 million dollars, with some exchanges. However, it usually requires high verification levels and may involve extra steps or fees.
Can I withdraw 1 million from Coinbase?
Coinbase may allow this, but it depends on your account verification and trading history.