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Whether you’re a professional cryptocurrency trader or just starting out with digital assets, sooner or later, you will need to withdraw your cryptocurrency from your CoinEx account to a secure non-custodial wallet like Zengo.
In this how-to withdraw money from CoinEx guide, we’ll cover all you need to know for withdrawing your assets from CoinEx and transferring them to your Zengo wallet. It’s important to complete the process carefully, following all necessary steps to ensure nothing goes wrong.
Before starting the process, ensure your Zengo cryptocurrency wallet is ready to use. You can download it via Google Play or the Apple App Store. Zengo is the top crypto wallet offering protection with industry-leading security features like Multi-Party Computation (MPC) technology, robust Web3 firewall, and biometric protections.
After setting up the Zengo app and completing the onboarding steps, proceed to follow these simple instructions to withdraw your funds from CoinEx to Zengo:
Sign in to your CoinEx account. Click “Assets” and then “Withdraw” in the top right corner.
Choose the token that you want to withdraw and select the network. Make sure Zengo supports the blockchain network and token you want to use.
Enter the withdrawal address, which is the address of your Zengo wallet. You can find your Zengo address inside the app by tapping “Actions,” then “Receive,” and selecting the asset you want to receive.
Enter the desired amount to transfer, taking the withdrawal fee into account. Check all the details and click “Withdraw” to confirm. If necessary, attach the correct Memo/Tag.
It may be necessary for you to input an SMS code or TOTP code to verify, as well as to click on the link that appears in the verification email.
To verify the successful transfer of your crypto, launch your Zengo app. The main page should display your updated balance, reflecting the recent transaction. If you would like to view a complete history of your account activity, click on the “History” menu item to view your full transaction history.
Zengo is known for being the safest crypto and NFT wallet available, with plenty of features and advanced security technologies to protect your assets. With Zengo, you can buy, sell, hold, and trade a wide selection of cryptocurrencies. Furthermore, as a Web3-ready wallet, Zengo provides an easy way to safely interact with different Dapps and DeFi services using its integration with WalletConnect.
Zengo offers the highest levels of protection for your crypto assets, replacing traditional seed phrases with modern biometric facial recognition technology, advanced recoverability, and state-of-the-art MPC technology. On top of that, it comes with a Web3 firewall for additional protection when accessing Web3.
As a non-custodial wallet, Zengo ensures you have absolute control over your digital assets. If you wish to withdraw or move your funds, you can do so anytime. Plus, with Zengo’s fiat onramp function, you can easily buy more crypto by paying with fiat currency.
Zengo provides around-the-clock customer support to address any issues you may encounter or any assistance you may require regarding using our platform. Our support team is made up of real people, not bots, and they’re always ready to answer your questions and solve your problems at any time, including holidays and weekends.
The process of withdrawing from the Zengo wallet is simple. Open the app, select “Actions,” and then tap on the “Send” button. Choose the cryptocurrency you want to withdraw, enter the amount, provide the recipient’s address, and review the details before approving the transaction.
Zengo also lets you withdraw your crypto as fiat currency, including USD, GBP, and EUR. Navigate to the “Actions” menu, tap “Sell,” select the crypto you want to withdraw and the fiat currency you wish to receive, and enter the amount before confirming. The funds would then be transferred to the bank account associated with your Zengo wallet.
The following are a few answers to frequently asked questions concerning withdrawing cryptocurrency from CoinEx that you may find helpful.
CoinEx is a centralized cryptocurrency exchange that was founded back in December 2017 under the leadership of Haipo Yang, with its headquarters in Hong Kong. The CoinEx exchange was designed to provide a pleasant and convenient user experience with high levels of security and stability. CoinEx supports more than 700 different crypto tokens, letting users buy and sell the cryptocurrencies that interest them the most. Further, it offers additional trading options, such as margin trading and the use of smart trading tools. Moreover, it claims to have rapid transaction speeds, capable of handling up to 10,000 transactions every second. Plus, the CoinEx platform has its own token, CET, which can be used for discount trading fees, unique promotional benefits, and VIP services.
Both CoinEx and Zengo allow crypto traders to buy, sell, and swap cryptocurrency assets, and although there are some similarities, they also differ significantly. CoinEx, first and foremost, is a centralized cryptocurrency exchange with a range of additional features like margin trading and smart trading tools. Zengo, on the other hand, is primarily focused on security and privacy. It makes use of advanced security technologies, like MPC and 3-factor authentication, for securing user accounts and assets, minimizing the risk of funds being lost or stolen. On top of that, with Zengo’s WalletConnect integration, users are able to interact with a wide range of Dapps and services.
CoinEx has variable withdrawal fees. This means that the fee you have to pay for each withdrawal can vary based on multiple factors, for instance, the type of crypto you’re withdrawing as well as market conditions at the time of withdrawal. Users should always check the fee on the withdrawal screen before proceeding to withdraw funds.
CoinEx imposes a range of withdrawal limits for different cryptocurrencies. If necessary, it is possible to apply for an increased 24-hour withdrawal limit.
Withdrawals are usually processed in a matter of minutes on CoinEx, although it could take hours or even a couple of days to get to your other wallet or account, depending on network conditions and other factors.
When withdrawing from CoinEx, it’s essential to be aware of potential challenges that may arise during the process. First, make sure that you confirm your withdrawal request within 30 minutes by email, as delays could lead to automatic cancellation. Additionally, withdrawals might remain pending for a short period due to auditing or temporary wallet maintenance. Additionally, you should always be cautious when sending assets to other platforms, as unsupported coins, wrong network selections, or incorrect memos/tags may result in unsuccessful transactions. Most importantly, exercise extreme care while entering the destination address, as any mistake could lead to irreversible loss of funds. Make sure you double-check all the details before confirming your transfer to prevent funds from being lost.
CoinEx has teamed up with six different payment providers to allow users to sell their crypto for fiat currencies like USD and EUR. The process for each payment provider varies, and some of them have strict payment limitations. You may find it easier to move your funds over to the secure Zengo wallet first and then withdraw your crypto to fiat with ease.
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