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Why is there a wait period to withdraw my funds?

  • Updated

There are a few reasons why a withdrawal wait period may appear on your Bitbuy account:

First fiat deposit

To help keep our platform secure, a 72-hour withdrawal wait period is triggered once you make your very first Canadian Dollar deposit. This means that from the time of your first deposit, you will have to wait for 72 hours before you can take any funds out of your account, whether those funds are in digital currency or Canadian Dollars.

Password Changes

If there is a change to your password, a withdrawal wait period will be active for 72 hours.

Changes to email or 2-factor authentication

If there was a change to your email address or if 2-factor authentication (2FA) was disabled for your Bitbuy account, a withdrawal wait period will be active for 7 days.

New Device Sign-In

When we notice a new device sign into an account for the first time, withdrawals are automatically restricted for 72 hours.

Other

There are other security-related reasons your account may have a wait period on it. Please reach out to our Support team if none of the above reasons apply. 


Our Support team can help you remove restrictions (except in the case of a first fiat deposit) but note that you may be asked to do a brief security check beforehand. You can contact us by filling out a contact form.

Note that when a withdrawal wait period is active, trading is unaffected. You will still be able to buy and sell coins throughout the withdrawal wait period. Any profits you make during the wait period can still be withdrawn once the wait period has ended.

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