Q abt buying BUSD with Euros P2P (T+1 inquiry)
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I am looking to buy BUSD with Euros (first time with Euros), but I noticed something called “T+1” and a waiting period.
Am I able to send newly bought BUSD to another Binance account or do I have to wait 48 hours or something like that?
I read Binance’s info about “T+1” but I didnt quite understand what it entailed if you are buying P2P in Euros. Any clarification would be much appreciated!
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Thank you. That gives more ckarification
Good day,
“T+1” limit on EUR
Your trading activities (spot, futures, margin trading, etc.) will not be affected during this period. However, all withdrawal-related functions will be restricted.
EUR fiat markets: Applies to all users who have completed a trade order as a buyer on the P2P platform.
The “T+1” limit does not apply to Binance P2P merchants.
You can find more information here https://www.binance.com/en/support/faq/what-are-the-t-1-and-t-2-withdrawal-limits-360037261532
You would not be able to send your BUSD right away, you would need to wait 24 hours first
T+1 = 24 hours wait and T+2 = 48 hours wait
The “T+1” withdrawal limits provide a 24-hour buffer against the potential loss of user assets due to illegal funding. It also discourages money laundering activities on the platform to the greatest extent possible, reduces the risk of bank accounts being frozen, and ensures a secure trading environment for users.
The frozen crypto will be released automatically after 24 hours
Hope this helps. If you need extra explanation, please feel free to contact us via our chat support from here:
Binance Live Chat Support http://binance.com/en/chat
Our team will surely assist you as soon as possible – JJ