Binance P2P applies a “T+1” withdrawal limit to CNY and TWD trades.
What is the “T+1” withdrawal limit?
When users buy cryptocurrencies with CNY/TWD on Binance P2P, they can only withdraw their crypto asset from their Binance accounts 24 hours after the purchase (T+1). Users can transfer the asset to other Binance wallets under the same account and trade on Binance.com without any restriction.
The advantages of “T+1” withdrawal limit:
The “T+1” withdrawal limit can prevent illegal funds from entering the Binance P2P platform by extending the withdrawal time. Thus it can reduce the risks of frozen funds and improve security.
Illegal funds are usually frozen by banks within 24 hours. By restricting withdrawal within the 24 hour window, we ensure that the asset involved can still be recovered if any problem arises from illegal funds, thus reducing the risk and improving security of the user's assets.