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How to Withdraw Money From Bitfinex

How to Withdraw Money From Bitfinex

Whether you have made a decent profit trading cryptocurrencies or just want to be in control of your own digital assets, sooner or later, you will want to withdraw crypto from Bitfinex and store it in a more secure wallet. To do just this, you will need a trustworthy and invulnerable cryptocurrency wallet to store your digital assets in before eventually selling them for fiat currencies. 

In this how-to withdraw from Bitfinex guide, we will assist you in the process of withdrawing Bitcoin, Ethereum, and other cryptocurrencies from your Bitfinex account to your Zengo wallet without making any mistakes. When you follow the steps described in this guide, withdrawing crypto from Bitfinex will be an easy and straightforward process. 

How to Withdraw Crypto From Bitfinex to Zengo - Step-by-Step Guide

Before you can withdraw cryptocurrency from Bitfinex, you have to download and install the Zengo wallet app first. Zengo is a next-generation non-custodial cryptocurrency wallet that uses the latest MPC technology to protect your digital assets in the best way possible. Zengo is safer than any hardware wallet and more secure than centralized cryptocurrency exchanges because it has a built-in Web3 firewall and uses the latest biometric facial recognition software to safeguard your crypto. 

Once you’ve downloaded, installed, and set up the Zengo wallet app on your device, you are ready to send funds to it. Luckily, this is quite easy, but we will explain it anyway, as it might be daunting the first time. To withdraw crypto from Bitfinex to Zengo, follow these steps:

How to Check That the Crypto Arrived in Your Zengo App?

In case you want to double-check whether your crypto has arrived in your Zengo wallet, simply open the app, log in with your facial ID, and check the balance on the main page. If you are unsure whether the crypto has been deposited, tap the ‘’History’’ button to be provided with a detailed overview of your most recent transactions. 

Keep Your Crypto Safe and Secure With Zengo

Zengo is the safest and most secure non-custodial crypto wallet that protects your digital asset holdings and NFT collection with facial recognition software. Additionally, it also allows you to buy, sell, and swap cryptocurrencies whenever you want. 

Next-Gen Digital Asset Security

Zengo safeguards your digital assets by using the latest biometric facial recognition 3-factor authentication software. This way, only you have access to your private keys and the means to reset them. Forget about writing down your seed phrases or printing out QR codes, and enjoy the benefits of logging in with your facial ID through the use of the latest MPC technology

100% Self-Custody & Fiat Onramp Services

Zengo’s 100% non-custodial wallet allows users to be the boss of their own cryptocurrency portfolio by providing them full access to their private keys. Additionally, users can expand their digital asset portfolio by using the app’s fiat onramp feature. Buy Bitcoin, Ethereum, and other cryptocurrencies with fiat currencies and store them in your Zengo wallet within seconds.

24/7 Real Human Customer Support

Zengo provides real human support around the clock, 365 days a year. If you ever have a question about your Zengo wallet or run into a problem, simply initiate a live chat with one of our friendly and professional customer support staff members, who are more than happy to assist you.

How to Withdraw Crypto From Zengo’s Wallet

Sending crypto from Zengo to other wallets and withdrawing crypto to fiat is incredibly easy. To send crypto to other wallets, open the Zengo app, tap the ‘’Actions’’ button, select the cryptocurrency you want to send, and fill in the destination address. Confirm the transaction afterward, and the crypto will be instantly sent. 

In case you want to withdraw crypto to fiat with Zengo, hit the ‘’Actions’’ button in the main menu, located at the bottom of the home screen, followed by the ‘’Sell’’ button. When you have done this, enter the amount of cryptocurrency you want to sell. Once you’ve confirmed the transaction, your crypto will be sold, and you will receive EUR, USD, or GBP in return. Once your Zengo account is credited with the fiat currency of choice, tap the ‘’Withdraw’’ button in the main menu and follow the on-screen instructions to withdraw it to the bank account connected to your Zengo wallet.

FAQs: Additional Information on How to Withdraw Crypto From Bitfinex

You can find more information about crypto withdrawals from Bitfinex in the frequently asked questions section below.

Bitfinex is a centralized cryptocurrency exchange owned and operated by iFinex Inc, located in the British Virgin Islands. The exchange was founded by Giancarlo Devasini and Raphael Nicolle in 2012, and users can trade over 170 different digital assets on its trading platform. iFinex also owns Tether Limited, which is the issuing company behind the USDT stablecoin.

The main differences between Bitfinex and Zengo are that Bitfinex doesn’t offer non-custodial wallet services, but Zengo does. Furthermore,  Zengo is a full-fledged Web3-ready platform that acts as a gateway to Web3, Dapps, NFT marketplaces, and decentralized finance, whilst Bitfinex is only a cryptocurrency exchange, allowing users to buy, sell, and swap cryptocurrencies. 

Bitfinex charges 0,1% on fiat withdrawals with a minimum of 60 dollars or euros. For express bank wire withdrawals, the fee is 1%, with a minimum fee of 100 dollars or euros. Bitfinex doesn’t charge any cryptocurrency withdrawal fees, but standard miner fees apply. 

Fully verified Bitfinex users can withdraw a minimum of 10,000 USD/EUR/GBP, 1,000,000 JPY, or 75,000 CNH daily to their bank account. The minimum withdrawal size for cryptocurrency at Bitfinex is $5 equivalent, with no maximum limit. With Zengo, you can withdraw any amount of fiat to your bank account, making selling crypto for fiat much more seamless. 

A regular bank wire transfer withdrawal takes between 5 and 10 business days, while a cryptocurrency withdrawal request is processed nearly instantly, depending on how ‘’busy’’ it is on the blockchain. 

The most common problem that can occur when withdrawing crypto from Bitfinex is that the transaction stays ‘’on hold.’’ The most common triggers for this are a recent password reset, unlocking a locked withdrawal address, changing an existing address, or recently having requested a security change through support. In all cases, you need to wait for the so-called cooling-off period to be over. If your account is verified at the intermediate level or above, you can manually request to have the withdrawal hold lifted by contacting Bitfinex support. 

Also, note that the minimum fiat withdrawal on Bitfinex is $10,000 or currency equivalent. Lower withdrawals have to be done through USDT (Tether). It can also be the case that your bank doesn’t accept deposits from Bitfinex. In all cases, we recommend sending your crypto from Bitfinex to Zengo first, then selling it for fiat and withdrawing it from the bank account connected to your Zengo wallet.

To withdraw crypto to fiat on Bitfinex, make sure your account is fully verified first. Then go to the wallets page and select ‘’Withdrawals’’ from the main menu bar and click ‘’Bank Transfer.’’ Fill in the basic details of the withdrawal you wish to make, including the currency, wallet, and amount. To complete your transaction, click on ‘’Request Withdrawal,’’ which will send an email confirmation to the email address linked to your account. Click on the link in the email to finalize the withdrawal process. Note that the minimum fiat withdrawal on Bitfinex is $10k or currency equivalent. For this reason, it might be wise to send your cryptocurrency from Bitfinex to Zengo first and then withdraw it to fiat later, directly via your Zengo wallet.

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