FAQ | Binance FAQ (2024)

FAQs

Why is it so difficult to withdraw from Binance? ›

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, or you have changed your password, we will temporarily disable your ability to withdraw.

If you put in $1000 on Binance and track a 10% rise on one pair, you will have made $100. Repeat this every day and you will be making $100 a day, every single day.

"Withdrawal Suspended" on Binance indicates that withdrawals for a particular cryptocurrency or trading pair have been temporarily halted. This could be due to maintenance, security reasons, or regulatory compliance issues.

If you believe you have been scammed on Binance, you should contact their customer support team immediately and provide them with as much information as possible about the scam. They may be able to investigate the situation and potentially refund your funds if they determine that you were indeed scammed.

Binance agreed to a complete exit from the U.S. as part of the settlement, although an official said that BAM Trading was not affected by the agreement.

In response, Binance and other investors opened Binance.US, a separate exchange designed to comply with all applicable US federal laws, which nonetheless is banned in six states: Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.

Binance Pay transactions are usually confirmed instantly. What are the advantages of using Binance Pay? Binance Pay is a simple, borderless, and secure way to send and receive cryptocurrencies from your mobile devices. You can send crypto to friends and family via email, phone number, Binance ID (UID), or Pay ID.

👉#Trading : This is the most common way to earn money on Binance, and it involves buying and selling cryptocurrencies to profit from changes in their prices. Trading can be risky, but it can also be very profitable if done correctly. 👉Staking: Staking is a way to earn passive income with your cryptocurrencies.

Focus on volatile currency pairs with daily fluctuations of 10-20%. These pairs offer the best opportunities for quick gains. For example, if you invest $100 and track a currency pair that increases by 10%, you'll earn $10. Repeat this process daily for consistent $10 profits.

The CFTC brought civil proceedings against Binance in March 2023 for failing to put in place an anti-money laundering program that would have identified and stopped dirty money transactions such as the financing of terrorism and illicit drug sales.

Is Binance safe or not? ›

Is Binance Exchange Safe? Binance is often considered one of the safest exchanges in the world if you consider the level of security. If the exchange crashed or a hacker stole assets or funds, the SAFU reimburses its users from the $1 billion fund. Not every platform has an insurance fund in place.

Cool-down periods. Binance restricts withdrawals for various reasons, including abnormal user profiles, transaction patterns, operating behavior, devices, or environmental factors. For example, Binance may temporarily disable your account's withdrawals if you repeatedly send funds to a blacklisted address.

Account-Selling Scams

Their plan is generally to get payments for fake products or services into the bank account linked to the sold Binance account. They use these stolen funds to buy cryptocurrencies on Binance P2P. Victims realize they've been scammed when the products or services they paid for don't exist.

The bulk of a Securities and Exchange Commission lawsuit against Binance, the world's largest crypto exchange, and its co-founder Changpeng “CZ” Zhao can proceed, a US judge ruled.

Account Takeover (ATO) attacks can result in your crypto or personal data being stolen. Learn how to stay safe by detecting ATO attacks before they happen.

Users cannot withdraw USD without first converting it to stablecoins or another digital asset.

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.

Withdrawing assets from Binance.US may incur transaction fees, which are estimated based on network transaction costs. Going forward, rather than charging a fixed fee, Binance.US will charge customers a dynamically generated withdrawal fee for Ether (ETH) and ERC-20 tokens.