Are there withdrawal limits?

Updated 2 years ago

Yes, these limits are dynamic and are constantly changing. While we allow users to freely transfer any currency amongst themselves at any given time, withdrawing your account balance requires a paid membership.

If you decide to upgrade your account from its free trial period, you can visit the Upgrade section on Synbit. After purchasing a VIP status that matches the withdrawal limit you require, simply choose the currency, enter the address, and confirm your Secure Key.

We were forced to introduce these limits because most coin softwares are not good at handling high volume wallets with large amounts of dust, and this is problematic for large withdrawals. We run a consolidation process in the background to eliminate wallet dust but in some cases, it is not sufficient, and that's when the withdrawal limit kicks in.

In most cases limits are high enough to not cause disruptions, but if you try to withdraw a high amount compared to our total funds you may hit these limits. In case you hit these limits you will receive an error message when you try to withdraw.

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