Binance is the largest and most trusted exchange site in the world. Lots of Indonesian traders use this service to buy and sell Bitcoin and various altcoins. All coins listed there are of average quality.
Trading there is very easy like on other exchange sites. However, there is a slight difference from the withdrawal side, where sometimes a coin is frozen by the system (frozen) for safety reasons.
You should also know that Binance sometimes doing so is also due to suspicious actions on the account. For example, your account has not been verified and has not activated double security. But there’s no need to worry, because this frozen balance problem can still be solved easily.
Why is Balance Frozen on Binance?
There are two reasons that cause this to happen, which are as follows:
Coin deposit transactions have not met the required confirmation.
Accounts require additional verification via the Binance app.
So far, only those two things have caused the balance on Binance to be frozen so that it cannot be withdrawn even if it has been exchanged for various coins. I have experienced both of these things myself, so here I want to share the solution based on experience.
Solution Can’t Withdraw on Binance Due to Frozen Balance
The two causes above certainly have an easy solution to do. Here I explain the solution in as much detail as possible, starting with the first one.
1. System Requires More Confirmation of Block/Deposit Transactions
So the first is that the coin deposit has not met the confirmation required by the Binance system. As example here you make a coin deposit Verge which on average requires as much confirmation as 30.
So after fulfilling 30 confirmations, then you can immediately use the balance for trading. But it’s different if for withdrawal, it takes more confirmation than this, which is around 100 confirmations.
Remember, it’s just an example for coins Vergemost likely the confirmation amount will be different for other types of coins.
The solution is just just wait until your deposit transaction block has met the required confirmation. On average this only takes about 2 hours. Then try to make a withdrawal again, there will definitely be no notification of the balance being frozen again.
2. Perform Additional Verification
Once I was asked to do additional verification because at that time I logged into my Binance account using VPN, so it is considered suspicious activity by the system. Therefore, a notification appears asking me to do additional verification through the application.
Julybe you are also experiencing the same thing, so please install the Binance application first on Play Store or Apps Store. Then log in to the account, and a notification will appear asking you to verify, just click on it.
The verification meant here is take selfies via the Binance app. And the process only takes about 30 minutes and after that you will get a notification that the verification has been successful. And the balance will not be frozen and can be withdrawn from then on.
3. Contact Binance Support Service
Binance has features live chat which makes it easy for users when they need help with anything on Binance, even checking accounts. This is the last option if the two methods above do not work.
So please go to the Binance website on your computer and log in to your account. Then click on the message icon that says “Support” yellow on the lower right side. Then in column Ask me Something Please fill in the complaints that you experience.
A few minutes later Binance support will connect with you and you will be assisted to solve the problem that occurs.
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So those are some solutions that you can do when your balance is frozen on Binance. You don’t have to worry as long as you don’t do anything wrong. What is certain is that the Binance system does that for the security of your account so that the balance does not get misused by others.
If you have any questions or other additions regarding the solutions above, you are very welcome to write them in the comments column below.
Hopefully useful and good luck