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How to Withdraw Crypto from lbank

Whether you are a novice or a veteran investor with years of experience, there comes a time when you may want to withdraw your crypto from LBank to a more secure wallet. When that time comes, it’s essential to know which steps to follow to prevent mistakes and safeguard your funds effectively.

In this how-to withdraw money from LBank guide, you will learn how to move your funds from LBank to your ZenGo wallet in only a few easy steps.

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How to Withdraw Crypto from LBank to Zengo

Step-by-step guide

To transfer funds from LBank to ZenGo, you’ll have to set up your secure ZenGo wallet. This is easily done by downloading the ZenGo app to your mobile device and following the set-up instructions on-screen. Once that’s done, you’ll be able to benefit from ZenGo’s top-of-the-line security. ZenGo is the most secure Web3-ready, non-custodial crypto wallet, which outperforms both software and hardware wallets with its advanced biometric protection. Once you’ve properly set up your Zengo crypto wallet app, you’re ready to transfer funds to it. To withdraw crypto from Phemex and send it to ZenGo, follow these steps:

Step 1

First off, sign in to your LBank account.

Step 2

After logging into your LBank account, navigate to the “Wallet” section. Then hit the “Withdraw” button to proceed to a withdrawal. This process is the same on both the mobile app and the web app.

Step 3

Look through your list of holdings and pick which cryptocurrency you wish to withdraw. You’ll also need to choose a blockchain network. It is important to note that LBank informs clients that equivalent assets purchased through C2C within 24 hours cannot be withdrawn.

Step 4

Type in the recipient’s address. This is the address for your ZenGo wallet. Once you’ve typed it in once, you’ll be able to add it to your address book for faster transactions in the future. The ZenGo address can be viewed by selecting “Actions” within the ZenGo app, then selecting “Receive” and selecting the cryptocurrency you’d like to receive.

Step 5

Next, enter the amount you wish to withdraw from Pionex into your ZenGo wallet. Be sure to double-check the amount before proceeding to the next step. Make sure you leave enough tokens to cover the network fees.

Step 6

You may be asked to provide a Memo, Tag, or Payment ID when withdrawing cryptocurrency. This is optional in some cases but required for certain transactions.

Step 7

Enter the total amount you’d like to transfer and double-check everything before hitting the “Confirm” button to launch the withdrawal.

Step 8

Lastly, for security reasons, you will need to enter an email verification code and a Google verification code.

How to check that the crypto arrived in your Zengo app?

If you wish to check whether or not your funds have arrived, open the Zengo app and check the main balance screen. For more details, click on the “History” tab to see your recent transactions.

Keep Your Crypto Safe and Secure With Zengo

Zengo is a Web3-ready non-custodial crypto and NFT wallet that delivers industry-leading security, functionality, and user experience. Zengo is the ultimate platform for buying, storing, managing, and swapping cryptocurrencies while maintaining maximum safety and security.

Next-Gen Digital Asset Security

Zengo provides industry-leading digital asset security. It uses biometric facial recognition and MPC technology to ensure that you alone can access and recover your digital assets. On top of that, it features Web3 firewall protection, which adds an extra layer of security when you interact with external Dapps.

100% Self-Custody & Fiat Onramp Services​

Unlike other platforms that dictate how and when you access your digital assets, Zengo offers complete self-custody. You maintain total and exclusive control over your crypto funds and NFTs. In addition, Zengo’s seamless fiat onramp options enable you to diversify your portfolio effortlessly.

24/7 Real Human Customer Support​

If you have any issues while using Zengo or need a helping hand with something, we have a team of support agents ready to help. You won’t have to worry about interacting with bots when you contact us. Our team of friendly customer support representatives is available 24/7, ready to assist with any inquiries or issues you may face.

Smartphone displaying a confirmation message that a recovery kit has been created, with email verification, 3D FaceLock, and recovery file upload all completed. A button labeled "Done" is available.

How to Withdraw Crypto From Zengo’s Wallet​​

Zengo makes it easy to withdraw funds to another wallet or cash out in fiat. To withdraw to another wallet, simply open the app, select “Actions,” and tap the “Send” button. Next, decide whichever cryptocurrency you want to withdraw and specify the amount. Finally, enter the receiving address and check everything is correct before you confirm the withdrawal.

Zengo also lets you withdraw crypto in the form of fiat currency, including USD, GBP, and EUR. Just navigate to the “Actions” menu, click “Sell,” choose the crypto you wish to withdraw and the fiat currency you want to receive, then enter the amount before confirming. Your funds will then be transferred to the bank account connected to your Zengo wallet.

Something's unclear?

Frequently asked questions

Below are answers to frequently asked questions related to cryptocurrency withdrawals from LBank.

LBank is a cryptocurrency exchange that was established in Hong Kong in December 2015 by Eric He and Allen Wei. The platform supports a broad range of financial services for its international user base, including spot trading, futures contracts, and ETFs. Additionally, LBank offers several convenient options for buying crypto, such as through credit/debit cards, P2P bank transfers, and regular bank transfers. It also provides earning opportunities through flexible and locked deposits, as well as involvement in the NFT space. The LBank exchange regularly lists new digital assets, showcasing its dedication to providing its customers with diverse trading options.
LBank is a centralized crypto exchange, while ZenGo is a secure non-custodial crypto wallet. In other words, LBank offers custodial wallet services, meaning that it doesn’t give you total control of the private keys to your digital assets. ZenGo, on the other hand, does offer complete control to its users as a non-custodial wallet. In addition, ZenGo provides superior standards of security, recoverability, and protection for your digital assets, while LBank could potentially lose your assets if it shuts down or goes bankrupt.
Much like many other centralized cryptocurrency exchanges, LBank has dynamic withdrawal fees, which are different for each coin. You can find all the up-to-date information regarding LBank’s withdrawal fees here.
LBank has varying withdrawal limits which can be different depending on which kind of coin you wish to withdraw and how much personal info (KYC) you’ve provided with your account. For the most up-to-date information regarding withdrawal limits from LBank, click here.
Based on the information posted on LBanks’s website, several factors may affect the withdrawal processing time, including the specific blockchain network used and its current congestion level. As soon as a withdrawal request is made, LBank typically generates a Transaction ID (TxID) within 30-60 minutes, indicating that the withdrawal transaction was broadcasted. However, it can take time for the transaction to be confirmed by the network, and for the funds to be credited to the recipient’s wallet can vary. Furthermore, according to LBank’s website, if a TxID has not been generated 6 hours after the confirmation, users are advised to contact LBank’s customer support for assistance.

Common problems you may encounter with this exchange include transfer delays and issues if you accidentally type the wrong info into the withdrawal box before confirming your transfer. That’s why it’s always a good idea to double-check and confirm the withdrawal details, like the amount and destination address, before clicking the “Confirm” button. 

You can withdraw cryptocurrency to fiat currency through a third party on LBank by following these steps on your web browser:
  • Visit the LBank website and log in to your account.
  • Navigate to the “Buy Crypto” page on LBank’s main menu, where you can find the option to convert your cryptocurrencies into fiat currency.
  • Follow the instructions on the Buy Crypto page, which may include selecting the cryptocurrency you wish to sell, entering the amount, and choosing the desired fiat currency.
  • Ensure you complete any necessary Know Your Customer (KYC) verification process with the third-party service provider associated with LBank.
  • Once your transaction is processed and completed, you will receive the converted fiat currency in your designated bank account or the specified withdrawal method.
Alternatively, you can send your funds to ZenGo, where they will be safely secured until you feel ready to use the “Sell” feature on ZenGo to cash out and enjoy your profits.
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