Abstract/Description:
Hard-Limit for Withdraws
Daily Hard Limit
Monthly Hard Limit
Error Message (if available):
Not Available
Root Cause (if applicable):
Member is attempting to withdraw funds larger than $9,500 USD per day or $250,000 USD per month.
Solution/Answer:
Advanced Mining is always looking ahead to implement technologies and policies that enhance the user experience for our members and deters thefts. On July 6th, 2021, we implemented an enhancement that allows us to enforce a practice widely in use by the industry that places a hard-limit for withdraws. As a result, effective immediately (September 14th, 2021), we are enforcing a daily hard-limit of $9,500 USD per day for all members.
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New Withdraw Limit:
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What this means is that members cannot withdraw more than $9,500 USD worth of bitcoin on a single day. Members who need to withdraw over $9,500 will need to break the withdrawal into multiple transactions over multiple days. Furthermore, we are implementing a hard-limit of $250,000 USD per month that resets on the 1st of each month.
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Example:
To withdraw $68,000 USD, a member can withdraw $9,500 USD each day for seven days and $1,500 on the eighth day:
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There are additional factors when withdrawing $9,500:
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Withdrawing $9,500
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References (if applicable):
None