Coinfloor to make fiat withdrawal minimum 666 times higher

Customers with lower balances have 7 days to withdraw.

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Coinfloor exchange, part of the UK Coinfloor group is set to increase fiat withdrawal minimums starting April 2, 2018, as Twitter user Jorge Fernando noticed:

coinfloor withdrawal limits old new

The old withdrawal limit for USD was 20, and on Monday it’s going to be 10K, which means there was a 500-times increse. GBP withdrawal limits grew from 15 to 10000, which makes it an eerily symbolic 666.666666667 increase.

Customers that have less than 10K fiat balance at Coinfloor have until April 9, 2018 to withdraw their full balance. The announcement does not mention what will happen to the funds of those that for some reason do not make it to withdraw their fiat until April 9.

Explaining the move, Coinfloor claim that they are making the move “to align to industry practices and to better service our institutional and sophisticated investors and professional trader clients” (source).

Focusing on larger clients might prove to be the right move for the company, and if previously Coinfloor was mentioned as the exchange to work with for sizable UK bank transfers, now it officially becomes one of the go-to places to cash out large amounts of Bitcoin.

 

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