Common Questions About Cryptocurrency Withdrawals

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Navigating cryptocurrency withdrawals on trading platforms can sometimes feel complex, especially when dealing with limits, fees, and security protocols. This comprehensive guide breaks down everything you need to know about withdrawing digital assets from exchanges—focusing on key aspects such as withdrawal limits, processing times, security restrictions, and more.

Whether you're a beginner or an experienced trader, understanding these processes helps ensure smooth, secure transactions and avoids common pitfalls.

Understanding Withdrawal Limits

Yes, most platforms enforce daily and monthly withdrawal limits based on your account’s VIP level and KYC (Know Your Customer) verification status.

For example:

👉 Maximize your trading potential with flexible withdrawal options.

These limits reset every 24 hours at midnight UTC for daily quotas, while monthly limits refresh on the first day of each month. Notably, fully verified users usually do not face monthly caps.

All cryptocurrency withdrawal amounts are calculated in USDT equivalent for consistency across different tokens.

Can You Adjust Your Withdrawal Limit?

Yes, but it depends on your VIP tier and KYC status. Increasing your limit generally requires completing higher levels of identity verification or achieving a better trading volume-based VIP rank. For detailed steps on upgrading your account privileges, refer to your platform's official support resources.

Remember: Security comes first. Sudden changes in account settings may temporarily restrict withdrawals.

Why Is There No Available Balance to Withdraw?

Even if funds appear in your unified trading or savings account, withdrawals can only be processed from your main funding wallet. Before initiating a withdrawal, make sure to transfer assets from other sub-accounts into your primary wallet.

This separation enhances fund management and security across different financial activities like spot trading, futures, and staking.

How Long Do Withdrawals Take?

Most withdrawals are processed within 15 minutes, assuming normal network conditions. However, during periods of high blockchain congestion—such as during major market movements or NFT launches—transaction confirmation times may increase significantly due to slower miner or validator throughput.

Always check the current network status before initiating large transfers.

Why Is My Account Restricted From Withdrawing?

To protect user assets, platforms impose a 24-hour withdrawal freeze following certain sensitive actions:

This temporary hold prevents unauthorized access and ensures that changes were made intentionally by the legitimate user.

Note: Activities considered as withdrawals include on-chain crypto transfers, internal transfers, fiat cashouts, crypto card payments, and P2P trades.

Which Coins Can Be Withdrawn?

Not all cryptocurrencies are available for withdrawal at all times. Some tokens or blockchain networks may be temporarily suspended due to upgrades, congestion, or security concerns.

You can check real-time availability on the Deposit & Withdrawal Status page of your platform. This page lists supported coins, active chains, and current service interruptions.

How to Get Notified When a Coin or Chain Is Back Online

If a specific token or network is paused, you don’t have to keep checking manually. Most platforms allow you to set automatic alerts directly from the withdrawal page.

Just select the desired cryptocurrency and chain type, then click “Set Reminder.” Alternatively, visit the Deposit/Withdraw Status page and look for the “Suspended” label—next to it, you’ll find an option to enable notifications.

This feature ensures you never miss an opportunity to move funds once services resume.

Minimum Withdrawal Amounts and Fees

Every cryptocurrency has a minimum withdrawal threshold and associated network fee, which varies depending on the blockchain used (e.g., Ethereum, BNB Smart Chain, Solana).

You can view these details:

Fees cover blockchain transaction costs (miner/validator fees) and help maintain fast processing speeds.

Are Fees Deducted From the Withdrawal Amount?

By default, withdrawal fees are subtracted from the amount you request. However, this setting can often be adjusted in your account preferences.

There are two common modes:

  1. Amount entered = amount sent (fees deducted separately)
  2. Amount entered = amount received (you must add the fee manually)
⚠️ Important: If you choose “amount received” mode and use the “Max” button without adjusting for fees, you might see an error saying “Withdrawal amount exceeds available balance.”

Are Internal Transfers Free?

Yes. Transferring funds between users on the same platform—known as internal transfers—incurs no fees. These transactions occur off-chain and are typically instant.

They’re ideal for sending crypto to friends or moving funds between your own accounts quickly and cost-effectively.

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How to Check Withdrawal Status and Find TXID

All withdrawal records—including status updates and transaction IDs (TXIDs)—are accessible via the Funding Account History > Withdrawals section.

The TXID is crucial for tracking your transaction on the blockchain. Simply click “Details” next to any withdrawal entry to view the sending address, receiving address, and TXID.

My Withdrawal Shows "Completed" But I Haven’t Received Funds

If the status is complete but funds haven't arrived:

In rare cases, funds may be returned to the sender if sent to an incompatible address. If this happens, submit a case through your exchange’s support form with full transaction details. A representative will respond via email shortly.

Why Do I See a Risk Warning When Withdrawing?

Platforms scan destination addresses for potential threats. If an address is flagged as high-risk (e.g., linked to scams or darknet activity), a warning will appear.

While you may proceed, requests to risky addresses might be blocked. In some cases, additional verification documents may be required before resuming withdrawals.

Always double-check recipient addresses to avoid losses.

Why Are Withdrawal Fees Higher Compared to Other Platforms?

Exchanges like Bybit apply a fixed service fee plus dynamically adjusted network fees. These elevated miner fees ensure faster confirmation times on congested blockchains.

While this may seem costly, it reduces the risk of stuck transactions—a common issue during peak usage periods.

Can Users Set Custom Withdrawal Fees?

Currently, traders cannot manually adjust network fees. However, some platforms are exploring this feature for future release to give users more control over cost versus speed trade-offs.

What Do Withdrawal Statuses Mean?

Here’s what each status indicates:

Can I Withdraw ETH to a Smart Contract Wallet?

No. For security reasons, direct withdrawals to smart contract addresses are not supported. Only standard external-owned addresses (EOAs) are allowed for ETH transfers.

Does the Platform Support SegWit BTC Addresses?

Yes. Withdrawals to Bitcoin addresses starting with bc1 (Bech32 format) are fully supported. This includes modern SegWit wallets that offer lower fees and improved efficiency.

What About Tokens Requiring a Memo/Tag?

While platforms allow withdrawals to addresses without memos/tags (e.g., XRP, XEM), it's the user’s responsibility to confirm whether the recipient wallet requires one.

Failure to include a required memo may result in permanent loss of funds. The exchange assumes no liability in such cases.

My ETH Address Isn’t EIP-55 Compliant—What Should I Do?

Some third-party wallets require EIP-55 checksum formatting for ETH addresses. To convert your Bybit address:

  1. Copy your ETH deposit address
  2. Paste it into Etherscan.io and search
  3. The correct EIP-55 formatted address will appear in the results

Use this version when required by external services.

“Google Authenticator Code Is Incorrect”—How to Fix It?

This error usually occurs when your device’s time is out of sync—common after traveling across time zones.

Fix it by:

Refer to platform-specific guides for step-by-step instructions.

How to Cancel a Withdrawal

You can cancel a withdrawal only while it’s in “Pending Review” status. Once processing begins, cancellation is no longer possible for security reasons.

Check your funding history immediately if you need to reverse a request.

👉 Secure your assets with reliable withdrawal controls.

Frequently Asked Questions (FAQ)

Q: How do I increase my daily withdrawal limit?
A: Complete advanced KYC verification and increase your trading volume to reach higher VIP levels, which unlock elevated limits.

Q: Will I lose my funds if I send crypto to a non-memo address?
A: If the receiving wallet requires a memo/tag and you omit it, there's a high risk of irreversible loss. Always verify requirements beforehand.

Q: Are there any hidden fees in cryptocurrency withdrawals?
A: No. All fees—including network costs—are displayed before confirmation. There are no surprise charges.

Q: Can I withdraw during network maintenance?
A: No. Withdrawals are paused during scheduled upgrades or unexpected outages. Check the status page for updates.

Q: What should I do if my withdrawal is stuck in “Processing” state?
A: Wait up to 24 hours under normal conditions. If unresolved, contact customer support with your TXID.

Q: Is it safe to share my TXID?
A: Yes. A TXID is public information used for tracking transactions on the blockchain and does not compromise your account security.

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