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Why is there a wait period to withdraw my funds?
Why is there a wait period to withdraw my funds?
Everything you need to know about withdrawal wait periods.
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Written by Stallone
Updated over a week ago

There are a few reasons why a withdrawal wait period may appear on your Coinsquare account.

First fiat deposit

To help keep our platform secure, a 72-hour withdrawal wait period is triggered once you make your very first Canadian Dollar deposit. This means that from the time of your first deposit, you will have to wait for a period of 72 hours before you can take any funds out of your account, whether those funds are in digital currency or Canadian Dollars.

Changes to email, password, and 2-factor authentication

If there was a change to your email address, your password, or if 2-factor authentication (2FA) was disabled for your Coinsquare account, a withdrawal wait period will be active for 72 hours. This wait period is for the purpose of ensuring the security of your funds.

New Device Sign-In

When we notice a new device sign into an account for the first time, withdrawals are automatically restricted for a set amount of time. This is an added security measure applied to all accounts. Our Support team can help you remove this restriction, but note that you may be asked to do a brief security check beforehand.

Note that when a withdrawal wait period is active, trading is unaffected. You will still be able to buy and sell coins throughout the withdrawal wait period. Any profits you make during the wait period can still be withdrawn once the wait period has ended.

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