Before initiating a withdrawal from MEXC, ensure that your ZenGo app is fully functional. ZenGo is a Web3-ready non-custodial wallet that makes use of cutting-edge MPC technology, offering superior security for your digital assets. It outperforms hardware wallets and is safer than any centralized cryptocurrency exchange thanks to its biometric 3FA technology, absence of private key vulnerability, and a built-in Web3 firewall.
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:
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.
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.
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.
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.
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.
Below are answers to frequently asked questions related to cryptocurrency withdrawals from MEXC.
ZenGo and MEXC let you buy, swap, and store crypto, but several key differences exist. ZenGo, as a non-custodial crypto and NFT wallet, provides you with complete control over your private keys. In contrast, MEXC, as a centralized exchange, provides advanced trading options while maintaining control of its users’ funds. On top of that, ZenGo also acts as a gateway to DeFi and Daaps, and it’s the most secure Web3-ready crypto wallet for protecting and storing all of your digital assets.
The withdrawal processing time from MEXC can vary based on the selected cryptocurrency and network congestion but is typically completed within a few minutes to an hour. Network congestion and other problems could delay the process. In addition, since MEXC is a centralized exchange, other factors, like additional security measures, could prevent you from completing your withdrawal request while keeping it on hold. If you encounter such an issue, contact MEXC customer support.
Potential issues during withdrawal from MEXC include entering incorrect receiving addresses or selecting an incompatible blockchain network. In these instances, your digital assets may be permanently lost. For this reason, it is highly recommended to double-check all details before submitting a withdrawal request. Keep in mind that even the smallest error could cause irreversible damage to your investments. There is also the possibility that you forgot to leave a small amount to cover network fees, and for that reason, you can’t make a transaction on the blockchain. Additionally, check your KYC status to see if you have any limitations related to it.
MEXC doesn’t allow for direct fiat withdrawals into dollars, pounds, or other currencies at this time (May 2023). To get your money out of MEXC, you’ll need a third-party wallet (like ZenGo) or an exchange that offers a crypto-to-fiat service.
In case you are interested in withdrawing money from MEXC to fiat, we recommend you move cryptocurrency to ZenGo, where it can be safely stored until the time is right to make a withdrawal.
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