Today we’ve introduced a series of improvements that will enable you to trade more without sacrificing security.
Trading limits provide an important protection against financial loss from errors and fraud as they put guardrails around the amount and frequency in which funds can be moved. That said, having too many limits can be confusing and not having clear guidelines on when a limit has been hit or what to do about it can be a frustrating experience.
Our aim with these improvements is to simplify and provide greater transparency on trading limits. The result is a significantly better experience across Blockchain.com products.
Simplifying Trading Limits
Traditionally, Blockchain.com has had many different limits across:
- Activities: Buying, depositing, withdrawing, swapping
- Timeframes: Daily, weekly, annual
- Products: Wallet, Exchange
We’re simplifying things by removing as many limits as possible while continuing to provide necessary protections.
To do this, we’ve split activities into two types:
- Internal Activities: These happen within Blockchain.com. Examples include swapping using your Trading Account, buying from your Cash Account, and selling to your Cash Account.
- Cross Border Activities: These happen when sending funds in or out of Blockchain.com. Examples include buying with a credit card, depositing from a bank account, and withdrawing to an external wallet or account.
Since Internal Activities never leave Blockchain.com, the risks are far lower and we have greater ability to fix problems when they arise. As such, we’ve removed all limits on these transactions.
Since Cross Border Activities result in sending funds in or out of Blockchain.com and involve a third party, the chance of error or fraud is higher. To keep everyone safe, we still apply limits for these transactions, however we’ve removed weekly and annual limits for Gold Level users, leaving just daily limits. Furthermore, we’ve increased these limits significantly and have made them consistent across the Blockchain.com Wallet and Exchange.
Increasing Transparency
Beyond simplifying limits, we’ve made improvements to provide greater visibility and transparency. This includes providing support articles detailing limits as well as in-product guidance on when you’ve hit a limit and what actions you can take to unlock higher limits.
Our Commitment
Our mission is to empower you to own your financial future. We’ll continue to make improvements like these to make Blockchain.com both the easiest and safest place to buy, sell, and trade crypto.
IMPORTANT NOTE:
Digital asset markets are unregulated and not currently governed by any specific UK, European or US regulatory framework. Digital currencies are not bank deposits, are not legal tender, and are not backed by the government. Blockchain Access UK Ltd’s products and services are not within the jurisdiction of the UK Financial Ombudsman Scheme, nor are they subject to the UK Financial Services Compensation Scheme, the US Federal Deposit Insurance Corporation or Securities Investor Protection Corporation, or any other non-UK or non-US governmental or government-backed protections.
Legislative and regulatory changes or actions in any jurisdiction in which Blockchain.com’s customers are located may adversely affect the use, transfer, exchange, and value of digital currencies.
Improving your experience with simplified trading limits was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.
