Money you deposit into MogoCrypto
Any amount you deposit to your MogoCrypto account is subject to a 3 day hold period before you can withdraw it. Once the hold period has passed, you can withdraw your money to be deposited to your linked bank account (any major Canadian bank). This temporary 3 day hold on withdrawals only applies to money you have deposited into your MogoCrypto account and not to money made on a bitcoin sale.
For example, if you /funded/deposited $500 to MogoCrypto on January 2nd, you wouldn’t be able to withdraw this $500 until January 5th when the 3 day hold period had passed. However, if you used this $500 before January 5th to buy bitcoin and made a $60 profit on January 3rd, for example, the $60 profit can be withdrawn right away, i.e. there is no hold period on profits made.
Referrals
If you earned money by referring someone to Mogo, there is a 14 day hold period before you can withdraw those funds.
Note: If it’s your first time withdrawing money from MogoCrypto or if you’ve recently changed your banking information, you’ll be asked to verify your bank account. Learn more here.
