Whether you’re a veteran trader or relatively new in the crypto space, at some point, you’re going to want to move your assets from an exchange like DigiFinex and deposit them into a much more secure non-custodial wallet like Zengo, this way your funds will be kept safe until you’re ready to withdraw them into your local currency.
In this how-to withdraw money from DigiFinex guide, we’ll walk you through the process of withdrawing your cryptocurrency holdings from DigiFinex and transferring it into your Zengo wallet. Make sure these steps are followed carefully to avoid mistakes.
In order to get started, you will need to set up your Zengo cryptocurrency wallet. Zengo provides a secure space for managing and storing your crypto assets. With its state-of-the-art Multi-Party Computation (MPC) technology, a Web3 firewall, and biometric protections for your assets, Zengo leads the industry in crypto wallet security.
After setting up the Zengo app and completing the simple onboarding steps, proceed with these instructions to withdraw your funds from DigiFinex to your Zengo wallet account:
Log in to your DigiFinex account. You will need to activate or set up the 2-Factor Authenticator in order to withdraw funds.
Click on the “Withdraw” button. Then, choose the currency you want to withdraw, and make sure you select the right network. Make sure it is supported by Zengo.
Click on “Add withdraw address” and enter your Zengo wallet address. Add the tag if necessary. You can find your Zengo address in the app by tapping the “Actions” icon, selecting “Receive,” and then clicking the asset you want to receive.
Type in the amount you wish to transfer to your Zengo wallet. Be sure to leave enough tokens to cover the gas fees. Click “Submit,” and enter the sms verification code.
To finalize your withdrawal, enter your 2FA code.
To ensure the successful transfer of your funds, open your Zengo app. The main page should display the updated balance reflecting the recent transaction. You can also check the transaction history to view the latest transactions to and from your Zengo account.
Zengo guarantees the highest level of security for your cryptocurrency and NFT assets. Using Zengo, you can safely buy, hold and trade an ever-expanding variety of cryptocurrencies. Furthermore, by being a Web3-ready wallet, Zengo also allows you to connect with a variety of Dapps and DeFi services via WalletConnect.
As the most secure crypto wallet available, Zengo provides an array of features to protect and, when necessary, recover your assets. By replacing traditional seed phrases with cutting-edge biometric facial recognition along with the power of advanced MPC technology and Web3 firewall, your digital assets are guaranteed to remain completely secure with Zengo.
As a non-custodial crypto and NFT wallet, Zengo allows users to maintain full control over their digital assets. Zengo also provides fiat onramp services, which can be helpful for diversifying your portfolio, allowing you to buy new cryptocurrencies using standard fiat money.
The process of withdrawing from Zengo is simple and easy to follow. To withdraw your crypto to other wallets, first, open the app, select “Actions,” and click the “Send” button. Choose the cryptocurrency you want to withdraw, specify the amount, enter the recipient’s address, and review the details before confirming the transaction.
Zengo also supports withdrawing your crypto as fiat currency, including USD, GBP, and EUR. Just visit the “Actions” menu, click “Sell,” select the crypto you would like to withdraw and the fiat currency you want to receive, and enter the amount before confirming. The funds will then be transferred to the bank account linked to your Zengo wallet.
The following are answers to some common queries about cryptocurrency withdrawals from DigiFinex.
DigiFinex is a centralized cryptocurrency exchange with a focus on digital currencies such as Bitcoin, Ethereum, and Litecoin, in addition to other altcoins. It also provides advanced trading options for derivatives and ETFs, along with lawns and a crypto card. The DigiFinex platform was launched in 2017 by the co-founders Kiana Shek and Jia P. DIGIFINEX LIMITED, the company behind DigiFinex, is based in Seychelles and operates in various countries, including Hong Kong, Singapore, China, South Korea, and Australia.
Despite the fact that both DigFinex and Zengo facilitate the storing, buying, and trading of crypto, they are very different from one another. As a centralized exchange, DigiFinex holds the keys to the funds of its users. Additionally, they provide advanced trading and financial services like ETFs, margins, and loans. In contrast, Zengo is a 100% non-custodial crypto and NFT wallet designed with security in mind, which means you are the only one with access to your digital assets. By using advanced MPC technology, Zengo ensures that your digital assets remain safe and secure. On top of that, Zengo’s Web3 firewall protects you while you interact with Dapps and DeFi platforms, allowing you to use a variety of advanced trading tools while still maintaining full control over your funds.
DigiFinex has variable withdrawal fees. The fee amount depends on your withdrawal method, the token, and other elements, such as network conditions during the withdrawal process. For the most up-to-date information, simply initiate a withdrawal and check the current fees regarding a certain token.
According to their website, DigiFinex has achieved a basic automated coin withdrawal process. It says that the coins will automatically transfer to the recipient’s account within ten minutes after block confirmation. As you may be aware, each blockchain may require a different amount of time for the transaction to be processed, and if you are withdrawing to fiat, you may also experience a delay of a few days.
While most users don’t report significant issues with DigiFinex withdrawals, always verify the accuracy of all information, especially the recipient’s address, before confirming your transfer to prevent any potential loss of funds. It is important to note that the maximum withdrawal amounts depend on whether your account has been verified or not.
Based on our research, at this time (July 2023), DigiFinex does not allow cryptocurrency withdrawals to fiat. Therefore, if you want to withdraw crypto directly to a fiat currency, like US Dollars or Euros, you’ll have to transfer it from DigiFinex to an external wallet like Zengo and then withdraw it directly to your linked bank account in fiat currency.
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