Coinsquare has implemented various security measures to help protect our clients' accounts and funds on our platform. Withdrawal restrictions are used as a method to safeguard accounts under certain circumstances.
2FA Withdrawal Restriction
For your protection, our systems automatically place a withdrawal restriction on all accounts that do not have 2FA enabled when they detect the account balance having reached a CAD equivalent of $10k or more.
If you are subject to a withdrawal restriction and attempt to withdraw your funds, you will likely receive an error message stating: Withdrawal failed.
Account Change Withdrawal Restriction
As an additional security measure to protect users from account takeover compromises, any time a change is made to your password, email address, or 2FA status, a withdrawal restriction will be placed on your account for a period of time. Additional verification steps may be required.
Should you need this restriction removed, please reach out to our Support Team.
Take Steps to Protect Your Account
As a friendly reminder, security management for your account is your responsibility. At Coinsquare, we take appropriate measures and implement processes to help protect our clients' accounts to the best of our ability. Using 2-factor authentication is the minimum you can do to protect yourself. In addition, we recommend that you:
- Create a unique username and use alphanumeric passwords - do NOT use the same username and password for your Coinsquare account that you use for your other online accounts
- Consider using a secure password management tool to keep track of your unique credentials
- Ensure all your devices have all updates installed, patches, and virus protection