What is the purpose of Coinbase's 13-day waiting period for transfers?

3 answers

• Anshul SahareNov 30, 2020 · 5 years ago
  The purpose of Coinbase's 13-day waiting period for transfers is to ensure the security of the platform and protect users from potential fraudulent activities. By implementing a waiting period, Coinbase can thoroughly review and verify the legitimacy of each transfer, reducing the risk of unauthorized transactions and potential loss of funds. This waiting period also allows Coinbase to comply with regulatory requirements and perform necessary due diligence on the transactions. Overall, the waiting period is designed to enhance the safety and trustworthiness of Coinbase as a digital currency exchange.
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• Carlsson WongDec 18, 2021 · 4 years ago
  Coinbase's 13-day waiting period for transfers is a precautionary measure to prevent unauthorized access to user accounts and to mitigate the risk of fraudulent activities. During this waiting period, Coinbase conducts thorough security checks and verification processes to ensure the legitimacy of the transfers. This helps protect users' funds and prevents potential losses due to unauthorized transactions. While the waiting period may seem inconvenient for users who want to quickly transfer their funds, it is a necessary step to maintain the security and integrity of the platform.
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• Tamil SelvanAug 30, 2021 · 4 years ago
  As an expert in the digital currency industry, I can say that Coinbase's 13-day waiting period for transfers is a common practice among reputable exchanges. It is a security measure implemented to protect users' funds and prevent unauthorized access to their accounts. The waiting period allows Coinbase to thoroughly review and verify each transfer, ensuring that only legitimate transactions are processed. This helps maintain the trust and integrity of the platform, which is crucial in the digital currency space. Other exchanges also have similar waiting periods for transfers, as it is an industry standard to prioritize security and user protection.
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