Increasing your withdrawal limit on Crypto.com can be essential for managing larger transactions or for when your trading needs evolve. This article provides a comprehensive guide on how you can Increase your withdrawal limit on Crypto.com, incorporating insights from various sources.
Understanding Withdrawal Limits
Before diving into the process of increasing your withdrawal limit, it’s crucial to understand the existing limitations and why they are in place. Withdrawal limits on Crypto.com are designed to enhance security and comply with regulatory requirements. These limits can vary based on several factors, including the type of currency (crypto or fiat), your account level, and your jurisdiction.
What are the withdrawal limits for fiat currencies on Crypto.com?
The withdrawal limits for fiat currencies on Crypto.com vary depending on the currency and payment channel. Here are some examples:
- USD (ACH Push): Minimum withdrawal is 100 USD, daily limit is 100,000 USD or 5 times the minimum, and monthly limit is 500,000 USD or 30 times the minimum.
- USD (ACH Pull): Minimum withdrawal is 20 USD, daily limit is 100,000 USD or 5 times the minimum, and monthly limit is 500,000 USD or 30 times the minimum.
- USD (Wire): Minimum withdrawal is 1,000 USD, daily limit is 1,000,000 USD or 5 times the minimum, and monthly limit is 10,000,000 USD or 30 times the minimum.
- USD (ACH Push): Minimum withdrawal is 20 USD, daily limit is 100,000 USD or 5 times the minimum, and monthly limit is 1,000,000 USD or 30 times the minimum.
- USD (ACH Pull): Minimum withdrawal is 20 USD, daily limit is 100,000 USD or 5 times the minimum, and monthly limit is 500,000 USD or 30 times the minimum.
These limits are subject to change, so it’s essential to check the Crypto.com app or website for the most up-to-date information.
Step-by-Step Guide to Increase Withdrawal Limit on Crypto.com
1. Review Current Limits and Requirements
First, review your current withdrawal limits and understand the requirements for increasing these limits. This information can be found in the Crypto.com app under the “Fees & Limits” section within the settings. It’s also important to note that withdrawal limits can be daily or monthly, and specific limits may apply to different currencies.
2. Prepare Necessary Documentation
Increasing your withdrawal limit may require you to provide additional documentation to Crypto.com. This could include a bank statement or other financial documents that justify the need for a higher limit. Preparing these documents in advance can streamline the process.
3. Submit a Request to Increase Limits
To initiate the process, you’ll need to submit a request to Crypto.com. This can typically be done through the app or website, where you’ll find an option to request higher withdrawal limits. When submitting your request, be clear and detailed about why you need a higher limit. Providing a rationale and any supporting documentation can help expedite the review process.
4. Verification and Approval
After submitting your request, Crypto.com will review your application. This review process may involve verifying the information and documents you’ve provided. If additional information is needed, Crypto.com will reach out to you. Once your request is approved, you’ll be notified, and your new withdrawal limits will be reflected in your account.
5. Consider Alternative Strategies
If you’re facing immediate withdrawal needs that exceed your current limits, consider alternative strategies. For example, you could convert your funds to a stablecoin and move them to another exchange with higher withdrawal limits. This approach can provide a temporary solution while you wait for your limit increase request to be processed.
Common Issues and Solutions
Even with increased limits, users may encounter issues during the withdrawal process. Common problems include invalid address errors or transactions flagged for suspicious activity. Double-checking withdrawal addresses and complying with Crypto.com’s verification processes can help mitigate these issues.
Ways To Increase Withdrawal Limit on Crypto.com
There are several ways to increase your withdrawal limit on Crypto.com:
Verification:
Ensuring that your account is fully verified can help increase your withdrawal limit. The more information you provide, the higher your limit may be.
24-Hour Withdrawal Lock:
This feature adds an additional layer of security to safeguard your funds. It protects your account by disabling withdrawals for 24 hours to addresses that have been newly-whitelisted. You can enable or disable this feature in the settings section of your Crypto.com account.
Also Read: How to Enable the 24-Hour Withdrawal Lock
Address Whitelisting:
Crypto.com requires withdrawal address whitelisting every time you want to send crypto to a new address. This process adds an extra layer of security to your account.
To whitelist a withdrawal address,
- open the Crypto.com App,
- navigate to “Accounts,”
- open your Crypto Wallet,
- tap the “TRANSFER” button,
- select “Withdraw,” and follow the prompts to enter the new withdrawal address.
Contact Customer Support:
If you have a large account and need to withdraw a significant amount, you can contact Crypto.com customer support. They may be able to help you with the withdrawal process and potentially provide alternative methods to increase your withdrawal limit.
Use TrustToken:
TrustToken offers a fiat-backed stablecoin, TUSD, which can be used to withdraw funds from Crypto.com. This method allows you to convert your earnings to TUSD, send it to TrustToken, and then deposit it to your bank account.
Remember that withdrawal limits can vary depending on the currency and your account level. Always check the Crypto.com app or website for the most up-to-date information on withdrawal limits and requirements.
Conclusion
Increasing your withdrawal limit on Crypto.com requires a clear understanding of the existing limits, preparation of necessary documentation, and following the platform’s process for submitting a limit increase request.
Frequently Asked Questions (FAQs)
How do I increase my withdrawal limit on Crypto.com?
To increase your withdrawal limit on Crypto.com, you will need to go through the verification process. This usually involves providing personal information such as your name, date of birth, and address, as well as uploading identification documents such as a passport or driver’s license.
What is the maximum withdrawal limit on Crypto.com?
The maximum withdrawal limit on Crypto.com varies depending on the verification level of your account. For unverified accounts, the withdrawal limit is usually quite low, often around $2,000 per day. For verified accounts, the withdrawal limit can be significantly higher, sometimes as high as $100,000 per day.
Are there any fees for withdrawing from Crypto.com?
Yes, there are fees associated with withdrawing from Crypto.com. These fees depend on the cryptocurrency you are withdrawing and the method you are using to withdraw. For example, withdrawing Bitcoin to a bank account may have a higher fee than withdrawing Ethereum to a wallet.
