Dear Users,

In order to help users to better understand the withdrawal rules and limits,  BingX will be updating its rules for "withdrawal limits" on 2022-02-21. The new rules are as follows:

1.Withdrawal limits are no longer currency-dependent.

  • Previously, withdrawal limits were different for USDT, BTC and ETH respectively.
  • After the update, the value of all currencies withdrawn will be converted into USDT for calculation, and the price of each currency will be based on the price at the time of the withdrawal.

2.User withdrawal limits after the update:

a. Unverified users

Old:

  • The daily withdrawal limit was 10,000 USDT
  • The single withdrawal limit was 10,000 USDT
  • Cumulative withdrawal limit: 40,000 USDT

After update:

  • 24-hour withdrawal limit: 50,000 USDT
  • Cumulative withdrawal limit: 100,000 USDT
  • Withdrawal limits are subject to both the 24-hour limit and the cumulative limit.

b.Verified users

Old:

  • The daily limit was 1,000,000 USDT
  • The single withdrawal limit was 100,000 USDT
  • Cumulative withdrawal limit: unlimited

After update:

  • 24-hour withdrawal limit: 1,000,000
  • Cumulative withdrawal limit: unlimited


Tips: 

  • The withdrawal limit includes internal fund transfer limits.
  • Past withdrawals with the status "Under Review" are also included in the withdrawal limits.
  • If users that have not provided KYC information need to increase their withdrawal limits, we recommend that they apply for withdrawal limit increases by means of providing their KYC information as soon as possible.

 

Example:

1.A user who has already provided KYC information has a 24-hour withdrawal limit of 1,000,000 USDT.

  • Over the past 24 hours, the user has withdrawn 10 BTC (assuming the current price is 10,000 USDT), thus at a total value of 100,000 USDT. The user has also withdrawn 50 ETH (assuming the current price is 3,000 USDT), thus at a total value of 150,000 USDT.
  • This means that the user can still withdraw an additional 750,000 USDT within the current 24-hour period, i.e. 1,000,000 - 150,000 - 750,000 USDT.
  • If the current price of BTC is 50,000 USDT, the user can thus withdraw 15 BTC, i.e. 750,000 / 50,000 = 15 BTC.

 

2.A user who has not provided KYC information is subject to a 50,000 USDT withdrawal limit every 24 hours, and a cumulative withdrawal limit of 100,000 USDT.

  • If the user has withdrawn 80,000 USDT cumulatively, they can still withdraw another 20,000 USDT, i.e. 100,000 - 80,000 = 20,000 USDT.
  • If 10,000 USDT have been within the past 24 hours, another 40,000 USDT can still be withdrawn, i.e. 50,000 - 10,000 = 40,000 USDT.
  • In this scenario, the applicable withdrawal limit will be 20,000 USDT (i.e. not 40,000 USDT) as the cumulative withdrawal limit will automatically take precedence. Thus, the current remaining limit will be 20,000 USDT.
  • If the current BTC price is 50,000 USDT, users can also withdraw 20,000 / 50,000 = 0.4 BTC.

 

BingX reserves the right in its sole discretion to amend, change or cancel this announcement at any time and for any reasons without prior notice.

 

Risk Warning

Digital asset derivatives trading is highly leveraged and risky and may result in partial or total loss of account funds. Before participating in contract trading, investors must ensure that they understand the nature and rules of contract trading, and decide whether participating in contract trading is profitable. Investors should base their decision on their investment experience, goals, financial status, and ability to bear risks.

BingX Operation Team

2022-02-17