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Finblox Raises Daily+Monthly Withdrawal Limit, Given New Verification Status

Tyler Irvin

Summary: Crypto staking platform Finblox raised its daily withdrawal limit on Friday from $500 to $3,000 and its monthly limit from $1,500 to $30,000 if you have completed the “verified” or verified plus” level of identity verification, according to a Finblox tweet. If users have completed the “verified plus” identity verification by July 5, their withdrawal ...

Crypto staking platform Finblox raised its daily withdrawal limit on Friday from $500 to $3,000 and its monthly limit from $1,500 to $30,000 if you have completed the “verified” or verified plus” level of identity verification, according to a Finblox tweet.

If users have completed the “verified plus” identity verification by July 5, their withdrawal maximums will increase to $50,000/day and $500,000/month.

In addition, the crypto staking platform resumed yield generation on a number of digital assets and its referral program. Here is a list of the current digital assets they support to generate yield from:

They also noted that they will be honoring payouts that users are owed. Lastly, Finblox implemented “dynamic yield rates” which are flexible yield rates at their discretion to keep them ahead of the quickly changing market.

“The team is committed to making improvements to the product which would bring a higher level of transparency to some aspects of the system which will be announced separately.”

Lastly, the relatively new platform in the space noted that while they may be young, they are dedicated to making “things right” and improving user experience going forward.

This announcement comes two weeks after Finblox imposed tight withdrawal limits and other restrictions amid the Three Arrows Capital crisis.

Now investors can rest a little easier tonight with some good news in crypto, something that feels like hasn’t happened in a few months. In general, the crypto and digital assets market has been experiencing a tumultuous last few months which kicked off after the Terra Network’s crash which saw their two cryptocurrencies UST and LUNA lose 99% of their value in the course of a week.

Since then companies have been experiencing insolvency leading to potential bankruptcies. Three Arrows Capital and Celsius are the main two companies fighting for their lives right now. In addition, Bitcoin is sub $20,000 and Ether is sub $1,100. Perhaps this Finblox news could start a new positive wave in crypto, but it remains unknown at best at the moment.

Author: Tyler Irvin