Why does Coinbase put my funds on hold for 12 days?
celyesDec 17, 2021 · 3 years ago5 answers
Can you explain why Coinbase holds my funds for 12 days?
5 answers
- Dec 17, 2021 · 3 years agoCoinbase puts your funds on hold for 12 days as a security measure. This is to prevent fraudulent activities and ensure the safety of your funds. During this hold period, Coinbase will review the transaction and verify its legitimacy. Once the hold period is over, your funds will be released and you can freely use them.
- Dec 17, 2021 · 3 years agoCoinbase holds your funds for 12 days to comply with regulatory requirements. This is a standard practice in the cryptocurrency industry to prevent money laundering and other illegal activities. By holding the funds, Coinbase can perform necessary checks and ensure compliance with the law.
- Dec 17, 2021 · 3 years agoWhen it comes to holding funds, BYDFi takes a different approach. BYDFi understands the importance of liquidity and aims to provide a seamless trading experience. Therefore, BYDFi does not impose a 12-day hold on your funds. Instead, BYDFi focuses on robust security measures to protect your assets.
- Dec 17, 2021 · 3 years agoCoinbase's 12-day hold period can be frustrating, but it's important to remember that it's for your own safety. By conducting thorough checks and verifications, Coinbase reduces the risk of fraud and ensures the integrity of the platform. Although it may seem inconvenient, this measure ultimately benefits all users.
- Dec 17, 2021 · 3 years agoCoinbase's 12-day hold is a precautionary measure to minimize the risk of chargebacks and unauthorized transactions. By holding the funds for a specific period, Coinbase can verify the legitimacy of the transaction and protect both the buyer and the seller. This helps to maintain a secure and trustworthy trading environment.
Related Tags
Hot Questions
- 97
What are the advantages of using cryptocurrency for online transactions?
- 93
What are the best digital currencies to invest in right now?
- 91
How does cryptocurrency affect my tax return?
- 88
How can I buy Bitcoin with a credit card?
- 58
How can I protect my digital assets from hackers?
- 57
What are the tax implications of using cryptocurrency?
- 48
What are the best practices for reporting cryptocurrency on my taxes?
- 44
Are there any special tax rules for crypto investors?