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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 Money From Bitfinex

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 See if Your Funds Have Arrived in the Zengo App?

Checking whether your funds have arrived in the Zengo app is very simple and straightforward. Simply open the app, log in with facial recognition, and check the main balance page. If you want to see an overview or more details about certain transactions, simply open the history tab by tapping on the ‘’History’’ button on the lower right corner of your screen. 

Keep Your Crypto Safe and Secure With Zengo

Zengo is a must-have crypto wallet for those seeking a secure non-custodial wallet on which to store cryptocurrencies and NFTs as well as access DeFi trading and staking platforms.

The Next Generation of Crypto Wallet Security

Zengo is one of the safest and most secure crypto wallets available to retail users today. The wallet app utilizes state-of-the-art MPC technology, three-factor authentication with biometric login and transaction confirmation for an extra layer of security. With Zengo, you don’t need to remember any difficult seed phrases as your face is used to generate a truly unique and secure seed to access your digital assets!

Not Your Keys, Not Your Coins & Fiat Onramp

With Zengo’s non-custodial wallet, you are in complete control of your own private keys without having to worry about security or losing access to your funds. Furthermore, our fiat on-ramp service allows you to easily diversify and grow your crypto portfolio by purchasing your crypto of choice with fiat currency. Aside from that, you can also take part in our savings program

24/7 Real Human Customer Support

If you ever need any assistance with your Zengo wallet, you can contact our real human customer support staff at any time, even on weekends and holidays. Alternatively, you can check out our Help page to see if your question has already been answered.

How to Withdraw From Zengo’s Wallet

With Zengo, you can easily send crypto to other wallets or ‘’cash out’’ to fiat whenever you want. To send crypto to other wallets, tap on the ‘’Actions’’ button located in the main menu followed by ‘’Send’’. Now, simply fill in the amount of crypto you want to send, paste the receiving address or scan the QR code, and verify the transaction.

Rather cash out your crypto earnings to fiat? No problem! Simply tap on the ‘’Actions’’ button, and then on the ‘’Sell’’ button. As of writing this guide, you can sell your digital assets for Euros, British Pounds, and/or United States Dollars. 

Note that you have to connect your bank account to your Zengo wallet prior to requesting a fiat withdrawal and that it may take a few days for your funds to arrive.

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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