Guide for traders

The limitations on withdrawals that we can make from a trading platform, may concern either the minimum either the maximum amount of coins that we can withdraw. The latter, may not only concern the quantity of a coin but also the value that represents in terms of fiat currency (Euro or US Dollars). So we have:

• Limitations on the minimum withdrawal amount: These limitations derive from two sources. The first limitation derives from the fact that since trading platforms charge some fees for sending a coin, the quantity we have to send should be at least greater than this amount. So if we want to send Litecoin (LTC) from Bittrex, we will have to pay 0.01000000 LTC in fees, so the minimum withdrawal amount is exactly the same. The second limitation derives from the threshold that a trading platform may have set. For example, if we want to send Komodo (KMD) from Binance, then we should consider that withdrawal fees amount will be 0.00200000 KMD, while the withdrawal threshold set by this platform is 0.00400000 KMD.

• Limitations on the maximum withdrawal amount: Many platforms set a ceiling or a scale on the withdrawals that we can make, which sometimes are expressed in fiat currency. These limits are usually scaled according to our level of verification. Thus, at Binance we may withdraw up to 2 BTC per day without being verified, and 100 BTC if we are verified. At Nova Exchange we can withdraw up to $ 2,000 per day without verification, $ 7.500 per day if we submit a form with our personal data and $ 15.000 per day if we send the necessary documents. Finally, limitations on withdrawals may arise from the peculiarities of a coin's network or even from its wallet’s status on a specific platform. For example, due to the status of the wallet, the maximum withdrawal amount for Dimecoin from CoinExchange is 100,000 Dimes, while at Nova Exchange the equivalent limit is 20,000,000 Dimes.

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