Whether you’re a professional cryptocurrency trader or still very new in the digital asset space, sooner or later, you’ll come to the point where you want to withdraw your cryptocurrency from your Bitstamp account to a more secure wallet. When the time is ripe, you’ll need a safe and reliable wallet to store your digital assets on before eventually ‘’cashing them out’’ to fiat.
In this how-to withdraw money from Bitstamp guide, we will explain how to withdraw your digital assets from Bitstamp without making any unnecessary mistakes and store them on your Zengo wallet instead.
We highly recommend having your Zengo wallet app set up correctly before withdrawing funds from your Bitstamp account. Zengo is a web3-ready, non-custodial wallet that uses industry-leading MPC technology to secure your digital assets in the safest way possible. Zengo offers more reliable performance compared to hardware wallets as it uses biometric facial recognition software to restore key phrases, has no private key vulnerability, as well as a built-in Web3 firewall.
You can easily check whether your funds have arrived in your Zengo app at any given time. Simply log in and check the main balance page. To view your latest transactions, tap the ‘’History’’ button to be provided with an in-depth overview of your latest deposits/withdrawals.
Zengo is the world’s leading Web3-ready non-custodial wallet that uses biometric key phrases instead of mnemonic ones that only you can access and that provides its users with an easy-to-use interface with the possibility to buy and swap cryptocurrencies via both its own and external DeFi applications.
Forget about writing down your seed phrases or printing out QR codes. Zengo utilizes biometric facial recognition and state-of-the-art MPC technology that allows you to safely manage your portfolio from anywhere and at any time.
With Zengo, you are in full control of your private keys and access to your digital assets. Apart from that, you can easily buy crypto and expand your portfolio with Zengo’s fiat gateway services. Looking for high APYs? Check out our savings program.
Are you used to chatting with chatbots? Not with Zengo. Zengo offers real human customer support around the clock, every day of the year, including during the holidays.
Withdrawing funds from Zengo is a breeze. If you want to send cryptocurrencies to other external wallets, simply click on the ‘Actions’ tab situated in the main menu, followed by ‘Send.’ Enter the destination’s wallet address and confirm the transaction.
To withdraw fiat using Zengo, simply click on ‘Actions,’ then on ‘’Sell,’’ and select the desired fiat currency. Specify the amount, wait a few seconds, and then withdraw your fiat currency of choice to the bank account connected to your Zengo wallet. It should be noted that withdrawals of fiat currencies may take a few days to be processed.
You can find more information about withdrawals from Bitstamp in the frequently asked questions section below.
Bitstamp is one of the oldest cryptocurrency exchanges, founded in 2011. It allows its users to buy and trade cryptocurrencies. Recently, Bitstamp has added staking services to its platform, which allow users to generate a passive income with crypto by locking it up for fixed amounts of time and receiving interest in return.
The key differences between Bitstamp and Zengo are that users are in complete control of their own private keys with Zengo, while Bitstamp offers mere custodial services. Zengo also allows users to invest or interact with DeFi apps, whilst Bitstamp is a cryptocurrency exchange.
The only withdrawal limits that Bitstamp imposes are on ACH withdrawals, which have an upper limit of $50,000 per transaction.
Fiat withdrawals may take between 1 and 2 business days to finalize whilst cryptocurrency withdrawals usually take less than 30 minutes. Note that cryptocurrency withdrawals can take longer than the usual 30 minutes if it is ‘busy’ on the blockchain network.
There are a few common problems that can occur when withdrawing money from Bitstamp. For instance, you can accidentally enter the wrong destination address. Another mistake that is frequently made is selecting the wrong blockchain network for funds to be sent. This leads to the permanent loss of your digital assets, so we highly suggest always double-checking your transaction details.
To withdraw crypto to fiat from the Bitstamp app, simply follow these steps:
As an alternative, you can transfer your funds to Zengo and withdraw them when the time is right.
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