4 ms·
One thing I noticed, which always felt possibly-illegal, was how Binance and other exchanges would frequently freeze up funds that didn't meet minimum withdraws
by tibbon 3y ago
One thing I noticed, which always felt possibly-illegal, was how Binance and other exchanges would frequently freeze up funds that didn't meet minimum withdraws. If a coin fell to too-low of a price, they'd essentially just keep them. Sure, it is only $5-100 here and there, but that all adds up. Where does it go?
With a real bank or exchange, I'd expect some ability to sweep up my accounts and get a paper check for 50 cents if needed.
- sebzim4500 3y ago> it is only $5-100 here and there Does anyone have withdrawal minimum that are close to $100? Most of the Kraken minimums are below $1. It's also not true that can always empty a bank account for free. HSBC wouldn't let me sweep funds out of an account with ~$4.00 in it, for example, since it was international and the transfer fee was larger than that.
- StingyJelly 3y agoIf I remember correctly you could always exchange those low amounts for their shitcoin, then exchange that for something with reasonable withdrawl fees like monero and withdraw that. (or even withdraw their shitcoin and exchange it elsewhere if it was below their minimum exchange amount)