We are implementing a quota of coin withdrawal as an attempt on AML (anti money laundering). An increment of withdrawal quota would be given to you daily based on your level:
Level 1: The maximum increment of withdrawal quota: 250$
Level 2: The maximum increment of withdrawal quota: 1,000$
Level 3: The maximum increment of withdrawal quota: 2,500$
Level 4: The maximum increment of withdrawal quota: 500,000$
Withdrawal quota = the maximum amount of coin you can withdraw
Coin balance = the total amount of your coin
When withdrawal quota < coin balance, withdrawal quota shall increase, however:
- The total increase in 1 day will not exceed "the maximum increment of withdrawal quota" listed above
- The quota increase but shall not exceed the coin balance
1 new day is counted at 12am at your timezone, it means that the increment shall be refreshed at this moment.
When users withdraw their coin (even to another Remi account), the coin balance and the withdrawal quota decreases the same amount.
Trade (to sell and buy coin), Swap, Invest shall not increase/decrease withdrawal quota.
This example may give you more details about “Coin withdrawal quota”:
1, You are a level 3 user and your coin balance is 70,000$, withdrawal quota = 10,000$
2, As withdrawal quota < coin balance, immediately, the withdrawal quota will increase an amount of 50,000 $. It means that you the maximum of coin you can withdraw is 60,000 $.
3, At the next day (next 0h GMT), the quota will increase an amount of 10,000$ to be equal to the coin balance (70,000$)
4, At that day, you buy/deposit 20,000$, immediately, coin balance and withdrawal quota both increase an amount of 20,000$ (equal to 90,000$). Notice that the total increase of that day is 30,000$ < your maximum increment of withdrawal quota: 50,000$
5, Then, you buy/deposit 30,000$, the coin balance increase to 120,000$. However, the withdrawal quota just increase an amount of 20,000$ (as it has increased 30,000$ before). Thereby, the withdrawal quota is just 110,000$
6, Next, you withdraw 20,000$, coin balance shall decrease to 100,000$ and withdrawal quota shall decrease to 90,000$. After that, you sell 20,000$, coin balance will decrease to 80,000$ but the withdrawal quota is still 90,000$
Please higher your level to be more convenient while trading and have a better experience with us.