BitMEX increases accelerated withdrawals to 5 BTC per transaction

BitMEX, a prominent cryptocurrency exchange in the United Kingdom, has recently launched its accelerated withdrawal feature. The platform previously only supported once-per-day withdrawals.

Now, users can withdraw BTC every hour with the newly rolled-out feature. According to the latest post by BitMEX, users can withdraw up to 5 Bitcoin per transaction. These transactions are processed at 15-minute intervals.

The exchange has been releasing new features surrounding its withdrawal function for the past few months. With the latest release, BitMEX has reached a standout position in the market. However, the platform still counts user security as its primary priority.

That is why BitMEX, a popular cryptocurrency exchange UK, will continue implementing the once-per-day withdrawal feature on large withdrawals. The rule will also remain for transactions that need additional security. Besides sharing the news, the new post by BitMEX also mentioned:

The withdrawal acceleration function will be handled on a first-come, first-served basis. In some cases, it might be possible that BitMEX’s funds in the Hot Wallet are depleted. In case such a situation occurs, the platform will process the remaining withdrawals at 13:00 UTC.

Every withdrawal request is subject to security screening, which can prevent them from being 100% accelerated. On the other hand, confirmed withdrawals that are eligible for acceleration are still user-cancellable.

However, the window for doing so is narrower, with daily process withdrawals cancellable until 13:00 UTC. 

As a peer-to-peer crypto product trading platform, BitMEX helps investors access global financial markets. HDR Global Trading Limited owns the platform and boasts experts with 40 years of experience. It even offers supporting tools and an API to help users simplify their transactions.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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