What is the maximum amount of BTC you can transfer to a wallet per day? Is there any limitation?

[Brushless4500KV 4214]

One of the biggest problems with digital fiat payment processors (like PayPal and Skrill) is that the maximum amount of money you can send to someone else's account is limited per day. This causes problems. For example, you can't pay for the price of a car because the amount is high and they will suspect you and may even block your account temporarily. I thought that maybe Bitcoin has solved this problem and can be used for transferring large amounts of money in a day. I know that sending 6 digit numbers by Bitcoin network takes a lot of time before miners validate transaction and complete confirmations. I only want to know if this is possible or not because if you can send or receive large amounts of money in a day by Bitcoin, this is considered a significant advantage over fiat currency and can help many businesses and corporations which have a problem with money transfer. What are the lowest and highest amounts of money that can be sent by Bitcoin every 24 hours?

Edited December 11, 2019 by Brushless4500KV

[nasipadang 399]

11 hours ago, Brushless4500KV said:

One of the biggest problems with digital fiat payment processors (like PayPal and Skrill) is that the maximum amount of money you can send to someone else's account is limited per day. This causes problems. For example, you can't pay for the price of a car because the amount is high and they will suspect you and may even block your account temporarily. I thought that maybe Bitcoin has solved this problem and can be used for transferring large amounts of money in a day. I know that sending 6 digit numbers by Bitcoin network takes a lot of time before miners validate transaction and complete confirmations. I only want to know if this is possible or not because if you can send or receive large amounts of money in a day by Bitcoin, this is considered a significant advantage over fiat currency and can help many businesses and corporations which have a problem with money transfer. What are the lowest and highest amounts of money that can be sent by Bitcoin every 24 hours?

There is no limit to sending bitcoin to your wallet, you can send all your bitcoins to your wallet. But in the case of the excahnger platform there are a number of limits for the maximum delivery in accordance with your lv like poloniex or you have to do KYC like in binance to open a limit.

[Naga 1250]

I don't think is a limit for any wallet to receive per day but some exchanges has limitations when it comes  to withdrawing your money from them because it can be limited to 2 bitxoins only but if you have kyc then you can withdraw up to 100 bitcoina a day.

[Brushless4500KV 4214]

5 hours ago, Migo said:

I think there is no limit for transactions per day so I didn't hear anything official about limiting the transactions, so you can transfer as much as you can I think

There are some limitations that makes it impossible to transfer large amounts of money per day. It depends on the type of wallet you use. I use blockchain wallet and unfortunately it has big limitations for members without KYC. Even members who have verified their accounts can't send more than $25.000 worth of BTC per day. Suppose you want to buy a car from someone and want to pay him through bitcoin. If the price of the car is $50K, how can you send it in one order? Is this possible? Blockchain wallet even limits transaction amount per week! You can not send or receive more than $100K in every week. What is the solution for this problem? Which wallet has the highest money transfer limitation per day?

 

This link shows limitations of Blockchain wallet:

https://support.blockchain.com/hc/en-us/articles/360018353031-What-are-the-minimum-and-maximum-amounts-I-can-Swap-

[Nakamoto 279]

On 12/11/2019 at 11:41 PM, Brushless4500KV said:

I only want to know if this is possible or not because if you can send or receive large amounts of money in a day by Bitcoin,

I might be a new member of this forum. But as far as I know, as long as you pay enough fees, the miners will prioritize your transaction no matter how much bitcoin you send.

[myaccount1 584]

15 hours ago, Naga said:

I don't think is a limit for any wallet to receive per day but some exchanges has limitations when it comes  to withdrawing your money from them because it can be limited to 2 bitxoins only but if you have kyc then you can withdraw up to 100 bitcoina a day.

Yes in the most of exchanges and wallet have no any limits and we can easily withdraw the high amount of bitcoin and yes there are some exchanges and wallet which ask for us to kyc and when we have fully kyc then we can easily withdrawal high amount.

[Naga 1250]

8 hours ago, myaccount1 said:

Yes in the most of exchanges and wallet have no any limits and we can easily withdraw the high amount of bitcoin and yes there are some exchanges and wallet which ask for us to kyc and when we have fully kyc then we can easily withdrawal high amount.

Yea but this is not a good thing because we all be allowed to deposit and withdrawal fund to any exchange without the need for kyc specially after the best and biggest exchange got hacked and kyc were leaked.

[Naga 1250]

On 12/13/2019 at 1:16 PM, Hashimi said:

I think there is no actual limit to transfer your bitcoins into wallet till now. but if you try to sand all bitcoins mined till now to a single place, i think it could create a problem but what if? .. 

you saying all the bitcoin like the whole amount of bitcoin that have been mined till today? this is something that wouldnt happen at all because we have many exchanges and many people with different addresses.

[Brushless4500KV 4214]

Quote

 The biggest transaction in bitcoins I'm aware of were 550,000 Bitcoins (then approx. $1,345,000), and the largest amount of value transferred in one transaction was $149,000,000 (~195,000 Bitcoins) in a Bitstamp audit.

This kind of transactions must have been done with wallets that don't have any limitations. It would be nice if anyone who states any amount, he would mention the name of the wallet which was used for the transaction too. The biggest problem that limits sending large amounts is KYC. Something that is even worse than KYC is that some wallets don't allow you to send more than a few thousand dollars even if you complete your verification process! I don't understand why they still limit users which have verified their accounts! Do you know if Electrum wallet allows users to send unlimited amounts of bitcoin every day? What about Coinbase? I'm trying to find a suitable wallet without limitation.

[Frozen Kingdom 211]

On 12/11/2019 at 10:41 PM, Brushless4500KV said:

One of the biggest problems with digital fiat payment processors (like PayPal and Skrill) is that the maximum amount of money you can send to someone else's account is limited per day. This causes problems. For example, you can't pay for the price of a car because the amount is high and they will suspect you and may even block your account temporarily. I thought that maybe Bitcoin has solved this problem and can be used for transferring large amounts of money in a day. I know that sending 6 digit numbers by Bitcoin network takes a lot of time before miners validate transaction and complete confirmations. I only want to know if this is possible or not because if you can send or receive large amounts of money in a day by Bitcoin, this is considered a significant advantage over fiat currency and can help many businesses and corporations which have a problem with money transfer. What are the lowest and highest amounts of money that can be sent by Bitcoin every 24 hours?

Sir you can transfer as many bitcoin as you want on your wallet. There is no such limitation for transferring bitcoin to another wallet. But if you want to transfer bitcoin from any exchange site to your wallet then there is a limitation but you can increase your limitation by completing kyc on their exchange site. But if you transfer bitcoin one wallet to another then there is no problem.

[febriyana 934]

I think there is no limitation for how many you can send and receive.

But i bet you can't send payment with BTC when your balance is can only pay the fees or lower than fees. For example fees 10k satoshi, you only have 5k satoshi or 10k satoshi, you will get rejected by your wallet or network.

For receive Bitcoin is depend on where you want receive, because there some website or exchanges put minimal amount to deposit. The range is various, i ever see exchanges with minimum deposit 10k satoshi below that your account not credited.

[Brushless4500KV 4214]

5 hours ago, febriyana said:

I think there is no limitation for how many you can send and receive.

But i bet you can't send payment with BTC when your balance is can only pay the fees or lower than fees. For example fees 10k satoshi, you only have 5k satoshi or 10k satoshi, you will get rejected by your wallet or network.

For receive Bitcoin is depend on where you want receive, because there some website or exchanges put minimal amount to deposit. The range is various, i ever see exchanges with minimum deposit 10k satoshi below that your account not credited.

Yes, sending minimum amount is also another problem with some wallets. I can send as low as 1 cent with my fiat payment gateway. One cent is worth around 100 satoshi but can you send this amount with any crypto wallet?

It is hard to send some cents by any wallet because the fees are equal to the amount you want to send. This is a problem for me because sometimes I need to send only a few cents to someone. For example, once I sent $29.5 (around 0.00295 BTC) to someone and when he received it, he asked me to send him another $0.50. I couldn't send him less than $1 and I had to send him twice the amount. There should be no limitation either for the minimum or the maximum amount. Do you know any wallet that allows you to send a few cents?

[febriyana 934]

17 hours ago, Brushless4500KV said:

Yes, sending minimum amount is also another problem with some wallets. I can send as low as 1 cent with my fiat payment gateway. One cent is worth around 100 satoshi but can you send this amount with any crypto wallet?

It is hard to send some cents by any wallet because the fees are equal to the amount you want to send. This is a problem for me because sometimes I need to send only a few cents to someone. For example, once I sent $29.5 (around 0.00295 BTC) to someone and when he received it, he asked me to send him another $0.50. I couldn't send him less than $1 and I had to send him twice the amount. There should be no limitation either for the minimum or the maximum amount. Do you know any wallet that allows you to send a few cents?

That is possible when around 2013-2015 i think, because the price is really cheap.

So for sending 1 satoshi is also possible, the fees also cheap, where 10k satoshi is around $0.01. So some hacker that time spamming blockchain network with transaction 1 satoshi.

So for now the Bitcoin community is increasing their security. Where i think to sending below 10k satoshi is not possible because you can be rejected by nodes blockchain and flagged as spam.

For reference why the wallet is have minimum withdraw is to avoid the blockchain flagging your transaction as dusting attack.

https://www.binance.vision/security/what-is-a-dusting-attack

 

All wallet i think not supported sending a few cent, not only wallet also gambling sites have minimum withdraw or transfer player to player 0.0001 Bitcoin.

[Brushless4500KV 4214]

30 minutes ago, febriyana said:

That is possible when around 2013-2015 i think, because the price is really cheap.

So for sending 1 satoshi is also possible, the fees also cheap, where 10k satoshi is around $0.01. So some hacker that time spamming blockchain network with transaction 1 satoshi.

So for now the Bitcoin community is increasing their security. Where i think to sending below 10k satoshi is not possible because you can be rejected by nodes blockchain and flagged as spam.

For reference why the wallet is have minimum withdraw is to avoid the blockchain flagging your transaction as dusting attack.

https://www.binance.vision/security/what-is-a-dusting-attack

 

All wallet i think not supported sending a few cent, not only wallet also gambling sites have minimum withdraw or transfer player to player 0.0001 Bitcoin.

Thanks a lot for your explanation. I really enjoy reading your posts. You are a well-educated person.

The information you provided is really important. I didn't know that if I send very low amounts of satoshi, I will be recognized as a hacker or spammer. According to the above link, it is impossible or risky to send less than 500 satoshi to any wallet. 500 satoshi is equivalent of about $0.05. So, one reason for increasing fees is to provide security for transactions. I have read on the above link that scammers send a low amount of satoshi to multiple addresses. What is the point of this? They send money and they threaten wallet owner to send them back the amount they sent to him/her!  Is there any profit in this kind of scamming?

 

[febriyana 934]

17 minutes ago, Brushless4500KV said:

Thanks a lot for your explanation. I really enjoy reading your posts. You are a well-educated person.

The information you provided is really important. I didn't know that if I send very low amounts of satoshi, I will be recognized as a hacker or spammer. According to the above link, it is impossible or risky to send less than 500 satoshi to any wallet. 500 satoshi is equivalent of about $0.05. So, one reason for increasing fees is to provide security for transactions. I have read on the above link that scammers send a low amount of satoshi to multiple addresses. What is the point of this? They send money and they threaten wallet owner to send them back the amount they sent to him/her!  Is there any profit in this kind of scamming?

 

Thanks for appreciation, i love my opinion is helpful. 

Nah until now i don't know the mission that hacker.

 

But from my analysis.

That hacker want make flood of transactions. So every around 10 minutes the blockchain is creating a block, where inside block is some transactions.

So spamming transactions will make blockchain creating many block. So if the miner mining that block will going to invalid and the miner will not get reward.

If the miner mining many invalid block will make the blockchain overload and maybe will make the Bitcoin can't rewarded. Also for the miner side they will going bankrupt in short time. Miner go out, Bitcoin died. CMIIW.

[Syedbesharat 5423]

I used coinbase for btc and other coins buying.whenever i buy btc  through Coinbase I always transfer it to my ledger nano wallet it just take  few minutes after the purchase through Coinbase Pro. I guess it depends on your payment method.and in wallet you have no limit it depend on your source.

[Nakamoto 279]

On 12/15/2019 at 5:54 PM, Invalid said:

The only limitation for a coin to be transferred in is about the rules a nd regulation of the wallet. Lots of them have some limitations for the incoming money to their wallet per day but with regards to the value of bitcoin you can earn per day it is endless and you can earn all you can.

You are talking about the exchange wallet and the writer is not mentioning it. We are talking about sending bitcoin P2P and the only thing that limits you is your satoshi amount.

[duncun007 3577]

On 12/16/2019 at 12:33 PM, Binbillal007 said:

Cryptocurrency does not have a limit like other system, a single bitcoin address can hold all the coin available on the bitcoin network

yea because i think we have seen transactions in the market that made us amazed i remember i saw a transaction of millions of dollars and the fees were just 20$.

[Nakamoto 279]

On 12/15/2019 at 2:46 PM, Naga said:

you saying all the bitcoin like the whole amount of bitcoin that have been mined till today? this is something that wouldnt happen at all because we have many exchanges and many people with different addresses.

The most important thing is why would someone send it. Someone needs to give that person an aspirin. His head is going to explode.

[Naga 1250]

14 hours ago, Binbillal007 said:

 

Which type of third party wallet, do you mean exchanges?, Our app software for wallet doesn't have restrictions

he must lost or something because a wallet is the best and safest place to keep your bitcoin while exchanges might ban you and have more restrictions on you wallets dont do this sort of things,

[Nakamoto 279]

23 hours ago, Naga said:

he must lost or something because a wallet is the best and safest place to keep your bitcoin while exchanges might ban you and have more restrictions on you wallets dont do this sort of things,

Propably he sent the btc to the exchange. And he cannot fulfill the exchange KYC request. Some people refuse KYC because they have to protect their privacy. Otherwise it will expose something.

[Win 1015]

It depends on the wallet you use.if tje wallets requires an kyc(know youre costomer)maybe  that wallet has an maximum btc to send just like coins.ph but if coinbase wallet i think there is no limit about it.

[Sohel Rana 406]

We know bitcoin network are decentralized and everyone can make unlimited transection with bitcoin. But limited transection with only exchange. 

I use may payment gateway like PayPal,Neteller, Skrill etc but they are limited transection where crypto are unlimited.    

[BTC Future 3946]

There are no limitation in the amount of BTC you can transfer to your wallet.

The only limitation you might find comes from centralized exchanges that have tier-systems and require KYC procedures. Outside of exchanges there are no limitations in the code of Bitcoin.

[Ms.o 3322]

There are some exchanges limit the amount of bitcoins that you may withdraw in a single withdrawal,so it depends on where your bitcoin will come from before sending to wallet.