Transfer Conditions Not Met

Hey all, hope you're having a great day.
I recently purchased a domain from Ionos (Registrar: 1&1 Internet SE) and decided I wanted to transfer it to Cloudflare (better service) - But, when hovering over the function to transfer to cloudflare, I'm prompted with the popup "Transfer conditions not met". But, I'm struggling to comprehend which conditions those are. If anyone could help me out, I'd be much appreciated.

The domain was bought yesterday.
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