Below are the most frequent causes of withdrawal request failures on cryptocurrency platforms and how to resolve them.
1. Deposit Lock-Up Period
After depositing tokens, they enter a temporary freeze period where:
- The deposited amount (in USD equivalent) cannot be withdrawn
- Funds cannot be transferred to your trading account
- A pop-up notification will display the remaining block confirmations needed
Solution: Check your Deposit History for confirmation progress. Different blockchains require varying confirmation counts.
2. Assets Locked in Quick Buy Platform
Platforms may restrict withdrawals if:
- Account risks are detected
- Abnormal trading activity occurs
👉 Learn how to check when funds will unlock
3. Incorrect Wallet Address
Withdrawals fail when:
- The address doesn't match the selected blockchain network
- Chain name and wallet address are mismatched
Tip: Always double-check with the recipient before submitting.
4. Missing Tag/Memo
For networks like XRP and EOS:
- Tag/Memo is mandatory for certain addresses
- Incorrect tags may lead to permanent asset loss
5. 24-Hour Withdrawal Restrictions
Security protocols trigger temporary limits after:
- Password changes
- Phone/email updates
- Google Authenticator resets
- KYC transfers
- Passkey removal
Note: Applies to all withdrawal methods including P2P trades.
6. Exceeding Maximum Withdrawal Limits
ByBit's tiered limits:
| KYC Level | Daily Limit | Monthly Limit |
|---|---|---|
| No KYC | ≤20K USDT | 100K USDT |
| Standard Verification | ≤1M USDT | Unlimited |
| Advanced Verification | ≤2M USDT | Unlimited |
7. Insufficient Available Balance
Common causes:
- Funds tied in open orders
- Trial funds (non-withdrawable)
- Pending transfers
8. Below Minimum Withdrawal Amount
Each coin/network has specific minimums. Check requirements before submitting.
9. Temporary Withdrawal Disabling
Occurs during:
- Wallet maintenance
- Network upgrades
👉 Alternative withdrawal options
FAQ Section
Q1: How long do deposit lock-ups last?
A: Varies by blockchain (typically 1-6 hours). Check your deposit history for real-time status.
Q2: Can I cancel a withdrawal after submission?
A: No. Once broadcasted to the network, transactions cannot be reversed.
Q3: Why does my withdrawal show "completed" but funds aren't received?
A: This indicates platform processing is done. Blockchain confirmations may take additional time depending on network congestion.
Q4: Are there fees for failed withdrawals?
A: Most platforms only charge successful transactions, but verify with your exchange's fee policy.
Q5: How can I avoid withdrawal errors?
A: Always verify addresses, tags, network selection, and balance availability before submitting.
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