Perhaps you have made a decent profit with one or more of your cryptocurrency investments, or you simply want to have full control over your own private keys. Whatever the reason may be, at one point, you will have to withdraw your funds from BitMEX to a safer and more secure cryptocurrency wallet.
In this beginner’s guide on how to withdraw crypto from BitMEX, we will assist you in withdrawing Bitcoin, Ethereum, and other cryptocurrencies from your BitMEX cryptocurrency exchange account to ZenGo, the world’s safest and most secure Web3-ready cryptocurrency wallet.
Withdrawing crypto from BitMEX to ZenGo is an easy and hassle-free process. However, as this procedure can still be daunting the first time and for beginners in general, we will explain to you step by step how to withdraw digital assets from BitMEX to ZenGo. Note that you have to set up your ZenGo wallet first before you can withdraw crypto from BitMEX.
ZenGo is the safest and most secure non-custodial crypto wallet that makes use of the latest MPC technology to protect your digital asset holdings. ZenGo is more reliable and safer than hardware wallets and a lot more secure compared to centralized cryptocurrency exchanges because of its built-in Web3 firewall, seedless keyphrases, and biometrical account recovery system.
If you want to check that your crypto has arrived in your ZenGo wallet, simply open the ZenGo app and check your main balance page. If you can’t figure out whether the crypto has arrived or not, hit the “History” button at the bottom of the screen to view the complete overview of your recent transactions.
ZenGo is the safest and most secure non-custodial cryptocurrency wallet app available nowadays because it uses biometric key phrases instead of traditional ones. Apart from that, the intuitively designed app supports a broad range of cryptocurrencies, including but not limited to Bitcoin, Ethereum, Tezos, Dogecoin, Polygon, and Shiba Inu.
ZenGo provides you with next-generation security and protects your cryptocurrency holdings and NFT collections with the latest biometric facial recognition 3-factor authentication software. ZenGo allows you to log in at any time with facial ID through the latest MPC technology rather than using complicated seed phrases and/or QR codes.
ZenGo’s fully non-custodial digital asset wallet allows you to be in full control of your own private keys. Added to this, you can choose to expand your digital asset portfolio by buying additional cryptocurrencies with fiat currencies using ZenGo’s fiat onramp services. Buy Bitcoin, Ethereum, and other cryptocurrencies at any given time with ZenGo.
ZenGo provides 100% real human customer support around the clock, all year round. Contact the support via live chat with any question you may have, and one of our friendly and professional support staff members will assist you as soon as possible.
ZenGo allows you to send and receive cryptocurrencies to and from other external cryptocurrency wallets. To send any digital asset using ZenGo, simply hit the “Actions” button located in the main menu, followed by the desired cryptocurrency. The next step will be to paste the receiving address, after which you confirm the transaction to send your digital assets to the other wallet.
In order to convert cryptocurrencies to fiat using ZenGo, hit the “Actions” button located within the main menu of the app, followed by the “Sell” button. After having done this, simply specify the amount of cryptocurrency you want to sell. After confirming the sale, your coins will be converted to the chosen fiat currency, like euros, pounds, or United States dollars. At this point, you can withdraw this fiat money to the bank account connected to your ZenGo wallet account.
Get to know everything regarding crypto withdrawals from BitMEX in the frequently asked questions section below.
BitMEX is one of the biggest centralized cryptocurrency exchanges. The exchange was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. The exchange mainly focuses on cryptocurrency derivatives, futures, and perpetual option contracts. It allows digital asset traders to buy, sell, and speculate on cryptocurrencies with up to 1:100 leverage and offers option traders crypto-related option contracts without an expiry date. According to the time of writing this post, BitMEX supports 18 digital assets, including Bitcoin, Ethereum, Dogecoin, and Shiba Inu.
The key differences between BitMEX and ZenGo are that ZenGo is a non-custodial cryptocurrency wallet app that also supports access to Web3, Metaverse gaming, and decentralized finance features, whilst BitMEX is primarily a leveraged trading-focused centralized cryptocurrency exchange.
As of writing this post, BitMEX doesn’t charge any withdrawal fees on Bitcoin withdrawals but does charge tiered Tether withdrawal fees, which can be found here.
BitMEX allows its users to withdraw up to 0.5 BTC per hour. Its so-called risk-weighted Accelerated Withdrawals allow traders to benefit from faster-than-usual Bitcoin withdrawals compared to other cryptocurrency exchanges. For larger withdrawals or withdrawals that require additional security screening, they apply a once-per-day Bitcoin withdrawal process. You can read more about BitMEX’s withdrawal limits here.
Confirmed Bitcoin withdrawals that are eligible for acceleration are paid out on an hourly basis nowadays. BitMEX used to process all withdrawals manually at 13:00 UTC, but that is now no longer the case.
The most common withdrawal problem that can occur when using BitMEX is that withdrawal acceleration is handled on a first-come, first-served basis, meaning that you may have to wait longer than usual for your withdrawal to come through. It can also happen that BitMEX’s funds in its hot wallet are depleted, in which case you will also need to wait longer than usual.
According to what we could find online, you cannot directly withdraw to fiat on the BitMEX platform. As a result, you will have to use an external wallet.
Here’s how you can do it using the ZenGo wallet app: You withdraw crypto to fiat on BitMEX by hovering over your wallet and tapping the “Withdraw” button, followed by selecting Bitcoin or Tether, and sending it to your corresponding ZenGo wallet address. Once you’ve done this, you can keep your digital assets in your ZenGo wallet or sell them for fiat currencies using the “Sell” feature within the ZenGo wallet app.
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