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 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.
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!
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.
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.
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.
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.
As of the writing of this guide, BitStamp charges withdrawal fees on a per-coin basis. For fiat withdrawals, Bitstamp charges 0,1% of the transaction value with a minimum of 25 USD/EUR/GBP.
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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