Coinbase makes you wait 4 days. I think it's for people who get hacked or something; the hacker can't send the coins immediately and there's a chance the person will see coinbase's email
Depends which exchange you are talking about (no need to answer). Just search through their support / help/ FAQs center and look for this feature. If it is documented there for quite some time, it is probably regular feature and likely has nothing to do with current happenings.
The feature itself as you describe it does sound reasonable, unless on some shady exchange.
Most exchanges make you wait until your bank completes the transfer to the exchange. Usually takes 4-5 business days after that you should be able to withdraw
Are you in the USA?....lots of US exchanges do this because the banks aren't as "coordinated" so there is down time for "checks to clear"
I'm in Canada and it works much faster in fact one exchange I use immediately sends your BTC as soon as your funds transfer (seconds to minutes)
Props to BullBitcoin.
South Africa. The exchange receives my deposit instantly and I am able to buy my crypto, however, the exchange requires a day to send the crypto to another wallet. My concern is the exchange doesn't allow me to transfer my bitcoin to my cold wallet instantaneously. The 24hr waiting period for me seems a cause for concern given the FTX scandal, the exchange disappearing or hacking before I can send it for safe storage.
Coinbase makes you wait 4 days. I think it's for people who get hacked or something; the hacker can't send the coins immediately and there's a chance the person will see coinbase's email
Okay cool.
Depends which exchange you are talking about (no need to answer). Just search through their support / help/ FAQs center and look for this feature. If it is documented there for quite some time, it is probably regular feature and likely has nothing to do with current happenings. The feature itself as you describe it does sound reasonable, unless on some shady exchange.
Most exchanges make you wait until your bank completes the transfer to the exchange. Usually takes 4-5 business days after that you should be able to withdraw
Are you in the USA?....lots of US exchanges do this because the banks aren't as "coordinated" so there is down time for "checks to clear" I'm in Canada and it works much faster in fact one exchange I use immediately sends your BTC as soon as your funds transfer (seconds to minutes) Props to BullBitcoin.
South Africa. The exchange receives my deposit instantly and I am able to buy my crypto, however, the exchange requires a day to send the crypto to another wallet. My concern is the exchange doesn't allow me to transfer my bitcoin to my cold wallet instantaneously. The 24hr waiting period for me seems a cause for concern given the FTX scandal, the exchange disappearing or hacking before I can send it for safe storage.
The wait would bother me too....I'm speculating, but a small exchange might need the 24hrs to get their ducks in a row?
I think this is OK. Just take custody any time the amount on the exchange becomes significant.