Pexpay has implemented the “T+1” withdrawal limit to CNY fiat deposits and trading on the platform. This means when a transaction is completed, users can only withdraw their cryptocurrency to another wallet after 24 hours.
- The “T+1” withdrawal amount equals your net purchase amount in CNY.
Net purchase amount means the (buy-sell) amount on Pexpay. The calculation is based on the real-time BTC price, the corresponding amount of BTC and the amount of other currencies calculated based on the current BTC price which cannot be withdrawn within 24 hours.
Example: The user bought 40,000 USDT on Pexpay, which is equivalent to the current price of 1 BTC, the net purchase is thus 1 BTC. Therefore, the net purchase of 1 BTC cannot be withdrawn to another wallet within 24 hours. If BTC price drops to 20,000 USDT/BTC in 1 hour, the user can then withdraw 1BTC or 20,000 USDT from Pexpay.
- During the "T+1" withdrawal limit period, users' trading activities such as spot, futures, margin trading, etc. through［ Wallet -> Transfer］to Binance Exchange will not be affected. However, all Binance withdrawal-related functions will also be restricted.
- C2C merchants will not be affected by the "T+1" withdrawal limit restriction.
- The benefits of the "T+1" withdrawal limit
- The “T+1” withdrawal limit provides a 24-hour buffer against the potential loss of user assets due to interactions with illegal sources of funds.
- It also discourages money laundering activities on the platform to the greatest extent possible.
- Reduce the risk of users' bank accounts being frozen and ensure transaction security.
The "T+1" withdrawal limit restriction cannot be lifted manually, please wait patiently for 24 hours before withdrawing or selling your cryptocurrencies.
Pexpay takes compliance obligations seriously and strictly complies with the relevant requirements of local regulatory bodies. Please ascertain whether you are permitted to the service based on the legal requirements in your country of residence.