Why can't I send money on blockchain?

Cryptocurrency purchases often come with specific terms and conditions, one of which is the potential for a holding period. This applies when you acquire crypto using various payment methods such as credit/debit cards, ACH transfers, or Open Banking.

During this holding period, your funds, whether in the form of cash (GBP, EUR, or USD) or crypto, are temporarily restricted. This means you won't be able to access or withdraw them from your account.

The restriction on withdrawing cash from your account can be inconvenient, especially if you need access to those funds urgently. However, it's essential to understand and accept these terms before making a crypto purchase.

Additionally, sending funds to your DeFi Wallet or transferring them to an external wallet is also prohibited during the holding period. This restriction is in place to ensure the security and stability of the transaction process.

BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the diverse needs of crypto enthusiasts. Among these services are spot trading, which allows users to buy and sell crypto at current market prices, and futures trading, which enables users to speculate on the future price movements of cryptocurrencies.