MEXC is one of the largest cryptocurrency exchanges in the world. Because of that, it is a very popular exchange with a large number of users. We have summarized the reasons and solutions for not being able to withdraw.
MEXC Global Withdrawal method
There are some rules for withdrawal methods. Please refer to the article below. If you do not follow the rules, you may not be able to withdraw money. Asset information on overseas exchanges is carefully managed. The security settings are also quite comprehensive. The only type of withdrawal is virtual currency.
MEXC Global Withdrawal refusal
At present, MEXC has been in operation for about 6 years, but so far there have been no cases where MEXC has taken the initiative to refuse withdrawals. In the case of malicious virtual currency exchanges, there are cases where the exchange never withdraws and runs away with the funds. However, this example is happening only at unknown exchanges with short operating periods. MEXC will be a globally recognized exchange, so there is no possibility of such a malicious rejection of withdrawals.
kyc
By the way, there are restrictions if you do not complete KYC in order to withdraw money. You can easily apply and start identity verification from the screen. It is a similar service compared to Bybit, Binance, and domestic coin exchanges.
Fiat currency withdrawals not possible
Please note that legal currencies (US dollar, Japanese yen, euro, pound) cannot be used for withdrawal procedures. It is just a cryptocurrency, such as BTC, XRP, etc. Fiat currency cannot be purchased, held, or sold. Please understand this thoroughly. The same goes for apps.
Security measures
By the way, MEXC has two-step authentication, which is an advantage. Let’s do it as much as possible. You can feel safe if you authenticate with Google, SMS, etc. If you don’t do it properly, it’s a risk and a disadvantage.
MEXC Global Reasons and solutions for not being able to withdraw
There are some reasons why you can’t withdraw money. First of all, please refer to the following cases. If you still have trouble, we recommend contacting the support center. Please refer to the article below.
Not following payment rules
You must follow the withdrawal rules mentioned above. If any one of the rules is violated, there is a high possibility that the management side has stopped the withdrawal process. In this case, we recommend that you check the rules first and try again with a method that allows you to withdraw.
Wrong address entered
The worst thing you can do when making a withdrawal is to enter the wrong address. If you enter the wrong address, you will of course not be able to send money, and in the worst case you will lose your virtual currency. In other words, the remittance amount itself will be cut off. First of all, if there is a mistake in the remittance, please contact the support center, tell them the transaction ID, and ask if they can handle it.
forgot to enter tag
What you have to be careful about when withdrawing is that there are virtual currencies that require tag input. If there is no mistake in the payment address, the currency has arrived at the coin check. However, without tags, there is a problem of not being able to recognize whose currency it is. In this case, please send the transaction ID to the inquiry form of the destination exchange and have it processed.
network error
You may not be able to withdraw due to the wrong network (chain) specified when withdrawing. In this case, the remittance may fail and you may lose your virtual currency. Since the network can be withdrawn while it is wrong, it will not be reflected in the coin check of the remittance destination. In this case, contact support and let them know that you made a deposit with the wrong network and wait for a response.
Remittance in progress
Although you are requesting a remittance, it is possible that the status is still remittance in progress. Please see “Fund History” from Wallet in the MEXC menu. If your transfer history has a status such as “Waiting to process”, your transfer is still in process. In this case, please wait.
network congestion
There may be network issues that delay your remittance. The congestion status and approval status on the blockchain may be described in the withdrawal status of the exchange. It’s probably best to wait for this one. However, if it is too slow, please contact support.
account lock
Your account may be locked due to account freeze, account hack, etc. In this case, the administrator may have figured it out and locked the account itself. Please consider whether your account may have been hijacked or frozen. If you do something that conflicts with the prohibited items, it will be like this, so let’s contact the support center.
Balance 0
First of all, if you have not deposited anything, you cannot withdraw money. Please note that you will not be able to withdraw money if your balance is zero. Withdrawals are only possible for deposited virtual currency or earned virtual currency.
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