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.

"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.

Some possible reasons include: 1. Insufficient funds in the specific wallet or account you are trying to transfer from: Make sure that you have enough Bitcoin in the specific wallet or account you are trying to transfer from. Sometimes users may have funds in different wallets or accounts on the exchange.

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.

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

Staking and Savings on Binance

By participating in staking or savings programs, you can receive regular rewards in the form of additional cryptocurrencies. While these methods offer opportunities to earn free crypto on Binance, it's crucial to approach them with caution and do your research.

All you have to do is just provide your transaction history of the scam and reach out to Binance Support Service for help. Contact a Binance Executive and report your issue to them, to help you recover your money back to you.

Why is Binance under investigation? ›

Cryptocurrency exchange giant Binance faces federal charges for fraud and money laundering.

Note: Binance will never permanently freeze or block your funds due to a potential risk of scams. Instead, our policy is to give you sufficient time to make well-informed decisions. You can withdraw your funds at any time once you verify the transaction poses zero risk.

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.

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.

Transaction declined by the card issuer:

The bank's fraud rules (which consider various factors that are not made public) have been triggered. The bank may have placed a temporary hold on the customer's card. The purchase session may have been locked due to multiple declined payments.

Binance will discontinue withdrawals and deposits of sterling (GBP) as its local banking partner ends the relationship. Withdrawals and deposits are no longer available for new users and will be completely scrapped for existing users on May 22.

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.