It doesn’t matter whether you are a professional cryptocurrency trader trading millions worth of digital assets or are just a crypto-enthusiast that trades a bit on the side. At some point, you may want to withdraw your money from ByBit to a more secure crypto wallet. If you’re looking to withdraw funds from ByBit, you have to make sure you have a safe and reliable wallet to store your digital assets on.
In this how-to withdraw money from ByBit guide, we will take you by the hand and lead you through the process of withdrawing funds from ByBit to your ZenGo wallet. Simply follow the steps written below to make sure you don’t make any mistakes while doing so.
Before you can withdraw your digital assets from ByBit, you have to make sure you have your ZenGo wallet ready to go. ZenGo is a next-generation Web-3-ready non-custodial wallet that uses industry-leading MPC technology to secure your cryptocurrency holdings in the safest way possible. ZenGo performs better than hardware wallets and is more secure than any cryptocurrency exchange because it uses biometric 3FA, guaranteed account recovery, doesn’t have private key vulnerability, and has a built-in Web3 firewall.
You can easily check whether the funds have arrived in your ZenGo app by logging in and checking the main balance page. For more detailed transaction information, simply tap the “History” button situated in the main menu to be presented with an overview of your latest deposits and withdrawals.
ZenGo is the world’s most secure Web3-ready non-custodial wallet that utilizes biometric key phrases instead of regular mnemonic key phrases, has a beginner-friendly UI, supports multiple digital assets, and allows users to buy, sell, and trade digital assets through its own platform and external decentralized finance (DeFi) applications.
ZenGo is a revolutionary next-gen crypto wallet that utilizes top-of-the-line MPC technology and biometrics to make sure only you can access and recover access to your funds. Forget seed phrases and QR codes and use ZenGo’s revolutionary 3FA.
ZenGo is a non-custodial wallet app that gives you total control over your digital assets via biometric facial recognition, as well as the ability to easily expand your crypto portfolio with its fiat gateway.
Tired of chatting with bots? It’s no longer a problem with ZenGo, as it offers real human support. Better yet, you can contact ZenGo’s support team 24/7 by live chat, all year round.
ZenGo allows its users to easily send, convert, and store cryptocurrencies from within the app. Send digital assets to external wallets or convert them to fiat by submitting a withdrawal request to your connected bank account.
To withdraw crypto to fiat from ZenGo, just tap on the “Actions” button and then on the ‘“Sell” button behind the cryptocurrency you wish to sell. After submitting the withdrawal request, the desired cryptocurrency will be converted to Euros, Dollars, or British Pounds, which can then be withdrawn to your connected bank account.
You can find more information about withdrawals from ByBit in the frequently asked questions section below.
ByBit is a cryptocurrency exchange founded in 2018 by ex-forex broker Ben Zhou that mainly focuses on crypto derivatives, copy trading, options and futures. Users can buy, sell, trade, and stake cryptocurrencies and NFTs on the platform.
The key difference between ZenGo and ByBit is that ZenGo is a non-custodial crypto wallet that allows you to be fully in control of your digital assets because you are in control of your private keys. ByBit, on the other hand, is a cryptocurrency exchange that offers custodial wallet services, which means your digital assets will be lost if the exchange goes into bankruptcy.
ByBit charges a small coin-dependent withdrawal fee whenever you decide to withdraw your digital assets. You can find more information on their info page.
Cryptocurrency withdrawal requests are usually processed within 30 minutes on ByBit. The exchange doesn’t support fiat withdrawals to bank accounts. As an alternative, you can move your funds to ZenGo and withdraw to fiat when you feel the time is right.
One of the most common problems that can occur while withdrawing funds from ByBit, is sending them to the wrong receiving address. Always make sure you’re sending your digital assets to the correct address and that you’re using the right blockchain network.
To withdraw to ZenGo, please verify that the asset you wish to withdraw is supported by ZenGo.
As of writing this guide, it’s not possible to withdraw crypto to fiat using ByBit. If you wish, you can send your funds from ByBit to your ZenGo wallet, then withdraw the funds from ZenGo directly to your bank account.
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