We have launched our new Basic account on Liquid platform. Below is all you need to know about our new Basic account.
What is a Basic account?
A Basic account allows users to enjoy Liquid’s trading and lending features, and deposit and withdrawal cryptocurrencies before going through a full Account Verification (KYC) process.
Accounts which are declined by our Account Verification process are not Basic accounts. Accounts which are banned are not Basic accounts.
Only users from supported countries are eligible for a Basic Account.
To know about more account status, click here
Can I deposit and withdraw fiat currencies using a Basic account?
No. Only Verified accounts are allowed to deposit and withdrawal fiat currencies.
What is my withdrawal limit for cryptocurrency using a Basic account?
Basic accounts are allowed to withdraw a maximum of 2,000 USD-equivalent per day, and up to 20,000 USD-equivalent per calendar month in cryptocurrency only.
Daily withdrawal limits are reset at 22:00 UTC. Monthly withdrawal limits are reset at 22:00 UTC on the last day of the calendar month.
Withdrawal limits increase upon completion of the Account Verification process.
What are the limitations of a Basic account?
A Basic account is not able to:
- Deposit or withdraw fiat currencies.
- Withdraw cryptocurrency more than USD-equivalent 2,000 per day, or more than USD-equivalent 20,000 per calendar month.
- Take part in Initial Exchange Offerings (IEOs).
- Participate in referral and rewards campaign launch on Liquid.