Withdrawing your cryptocurrency is a fundamental part of managing your digital assets. Whether you want to send funds to an external wallet or another exchange, or quickly transfer them to another user on the same platform, the process is straightforward. This guide provides a clear, step-by-step overview of the available withdrawal methods.
Getting Started
To initiate a withdrawal, you must first log into your account. Once logged in, navigate to the 'Assets' section from the main dashboard. Here, you will find the option to begin the withdrawal process for your chosen cryptocurrency.
On-Chain Withdrawals
An on-chain withdrawal involves sending your cryptocurrency over a blockchain network to an external address, such as a personal wallet or an account on another exchange.
Step 1: Select Your Cryptocurrency and Method
Choose the specific cryptocurrency you wish to withdraw. Then, ensure you select the 'On-chain' withdrawal method from the available options.
Step 2: Enter the Withdrawal Details
This is the most critical step. You will need to provide the following information:
- Withdrawal Address: Carefully paste the destination wallet address from your external wallet or exchange. Double-check this address for accuracy, as transactions to an incorrect address are irreversible. You can enable address whitelisting for an added layer of security to protect your assets.
- Withdrawal Network: Select the correct blockchain network from the available options. Crucial Note: The chosen network must match the deposit network required by the receiving platform (exchange or wallet). Using the wrong network can result in a permanent loss of funds. Often, the system will suggest a network automatically based on the address format.
- Withdrawal Amount: Enter the amount you want to withdraw. This amount must be greater than the platform's minimum withdrawal threshold but cannot exceed the limit set by your account verification level.
- Network Fee: A fee, determined by the blockchain network itself and not by the platform, will be shown. This fee compensates network validators and can vary based on network congestion.
After filling in all details, click 'Next' to proceed.
Step 3: Confirm With Two-Factor Authentication (2FA)
For security, you will be required to complete two-factor authentication (2FA). This typically involves entering a code from an authenticator app or sent via SMS. Once verified, click 'Confirm' to submit the withdrawal order.
Important Note: For certain cryptocurrencies like XRP or XLM, a Destination Tag/Memo is required in addition to the wallet address. This is a sequence of numbers used to identify the recipient. You must fill in both the address and the tag correctly for the transaction to be successful.
Step 4: Transaction Processing
After confirmation, you will see a pop-up notification confirming that your withdrawal request has been submitted. The transaction will then be broadcast to the blockchain for processing.
Internal Transfers (Free & Instant)
An internal transfer allows you to send cryptocurrency instantly and with zero fees to another verified user on the same platform.
Step 1: Select Cryptocurrency and Method
Choose the cryptocurrency you want to send. Then, select the 'Internal (Free)' withdrawal method.
Step 2: Enter the Recipient's Information
You will need to specify the recipient using one of the following identifiers:
- Their registered phone number
- Their registered email address
- Their sub-account name
- Their unique User ID (UID)
Note: The recipient must be a verified user on the platform. After entering the recipient's details and the amount you wish to send, click 'Next'.
Step 3: Confirm the Transfer
Complete the 2FA process to authorize the transaction. Click 'Confirm' to finalize the internal transfer. The funds should appear in the recipient's account immediately.
Cancellation Policy: If you change your mind, you can typically cancel an internal transfer request within one minute without incurring any fees.
👉 Explore secure withdrawal methods
Frequently Asked Questions
What is the difference between an on-chain and an internal withdrawal?
An on-chain withdrawal broadcasts a transaction to a public blockchain network to an external address, involves a network fee, and takes time to confirm. An internal transfer is a record update within the platform's internal system; it is instant, free, and only works between users of the same exchange.
Why is selecting the correct network so important?
Blockchains are separate networks. Sending coins via the wrong network (e.g., sending Ethereum (ETH) on the BSC network to an Ethereum address) will result in the permanent loss of those funds, as the receiving address won't be able to access them.
What is a destination tag or memo?
Some centralized wallets and exchanges use a single master wallet address for all users. The destination tag or memo (used by cryptocurrencies like XRP and XLM) is a unique identifier that tells the receiving service which specific user account to credit the funds to.
How long does an on-chain withdrawal take?
Transaction times vary by blockchain network congestion. Bitcoin transactions can take from 10 minutes to over an hour. Ethereum and other networks have their own average confirmation times. The platform will show an estimated processing time.
Why was my withdrawal amount below the minimum?
Every cryptocurrency has a minimum withdrawal amount set by the platform to ensure transactions are economically viable given the network fees. You cannot withdraw an amount smaller than this minimum limit.
Can I cancel a withdrawal after confirming it?
Once an on-chain withdrawal transaction has been broadcast to the network, it cannot be canceled. Internal transfers can usually be canceled within a very short window (e.g., 60 seconds) before they are processed.