Post
Topic
Board Exchanges
Re: Why can exchanges freeze account.
by
TheUltraElite
on 10/08/2020, 11:21:06 UTC
The problem with freezing funds is that some people are prone to not giving KYC or similar stuff, privacy reasons and so on. hitbtc is a exchange that doesn't require KYC up front, but if you're withdrawing large amounts of money you're likely to be asked for KYC, and you can't withdraw until you fulfil it. A good way to not get frozen funds is to fill KYC and just follow whatever support responds, people ignore support responses sometimes lol.
They have a 1BTC cap for withdrawals on non-KYC accounts as per what they have written on their "Verification" page.

As long as you are a small cap trader or a bounty hunter is attempting to sell their tokens you should not have any problem but if you are looking for some serious trading and having a bigger daily volume to trade with then it is not for you. For that go for a exchange which is having some better customer support and less withdrawal fees than Hitbtc and also where you get yourself verified first and link your bank account.

Obviously this is not possible for countries where bitcoin is banned. Grin