Dear XTers,
In order to improve the security of OTC trading, XT.COM will enable a "T+1" withdrawal limit strategy, that is, users (including advertisers) have to wait for 24 hours after the transaction is complete before they can withdraw their crypto assets to an external address. Users' internal transfers, OTC trading, and other operations won't be affected during this time.
Point 1: All cryptocurrencies will be converted to an equivalent amount of BTC.
Example: If the user originally has 6,000 USDT in their account (supposing this is equal to 0.2 BTC) and they deposit 1 BTC through OTC trading, then the actual amount of assets under control is "equivalent to 1 BTC":
Within the 24 hour period, the user can actually withdraw the 6,000 USDT (1 BTC remains in the account) or they can withdraw 0.2 BTC (0.8 BTC +2,000 USDT remains in the account, which is equivalent to 1 BTC in our example). Anyway, the amount of assets remaining in the account has to be equivalent to 1 BTC.
Point 2: The "T+1" withdrawal amount is equal to your net-OTC purchase amount (buy-sell).
Example: Suppose that the user had no crypto assets in their account. At 08:00 on July 2, the user bought 1 BTC through OTC trading. At 12:00 on July 2, the user sold 0.5 BTC through OTC trading. When the user goes to make a withdrawal at 18:00 on July 2, the total amount of frozen assets is 1 - 0.5 = 0.5 BTC.
This is because the net value of assets purchased during that 24 hour period before the withdrawal is 0.5 BTC.
"T+1" withdrawal limit can provide a 24-hour buffer against a potential loss of user assets due to illegal funding, Discourage the use of dirty money on the platform to the greatest extent possible, Reduce the risk of bank account freezes, and ensure secure trading.
Thank you for your support!
XT.COM Team
July 14, 2021
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XT.COM reserves the right, at its discretion, to change, modify, or remove portions of the announcement at any time by posting the amended version on the website with or without notice.
