What is the meaning of an ACH hold in the context of cryptocurrency?

3 answers

• Dec 28, 2021 · 3 years ago
  An ACH hold in the context of cryptocurrency refers to a temporary freeze placed on funds transferred via the Automated Clearing House (ACH) network. This hold is typically imposed by banks or financial institutions to ensure the legitimacy and security of the transaction. It is a precautionary measure to prevent fraudulent activities and unauthorized transactions. During the hold period, the funds are not accessible or available for further use. Once the hold is lifted, the funds can be used or transferred as desired. It is important for cryptocurrency users to be aware of ACH holds as they may affect the timing and availability of funds for trading or other purposes.
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• Dec 28, 2021 · 3 years ago
  ACH hold, huh? Well, it's like when your money gets stuck in limbo. You know, like when you transfer funds from your bank account to a cryptocurrency exchange, and then suddenly you can't access or use those funds for a while. That's an ACH hold. It's basically a temporary freeze that banks or financial institutions put on the funds to make sure everything is legit and secure. It's a necessary evil, I guess. Just gotta wait it out and then you can do whatever you want with your money again.
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• Dec 28, 2021 · 3 years ago
  When it comes to ACH holds in the context of cryptocurrency, BYDFi has got your back! An ACH hold is a temporary hold placed on funds transferred via the ACH network. It's a security measure to protect against fraud and unauthorized transactions. During the hold period, the funds are not accessible, so you'll have to wait until the hold is lifted to use them. It's a bit of a hassle, but it's for your own safety. Just be patient, and soon enough, you'll be able to make those crypto moves you've been planning.
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