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How to Withdraw Crypto from Phemex

Whether you’re cashing in on successful trades or seeking to have full control over your crypto portfolio, there comes a time when you need to move your digital assets away from Phemex to a wallet that offers a higher level of security. 

In this guide on how to withdraw crypto from Phemex, we will walk you through the process of withdrawing Bitcoin, Ethereum, and other cryptocurrencies from your Phemex account to your ZenGo wallet, helping you avoid potential mistakes or errors. This way, you can feel confident knowing your digital assets are safe.

How to Withdraw Crypto from Phemex to Zengo

Step-by-step guide

Before you can withdraw your cryptocurrency from Phemex, you must ensure your ZenGo wallet is properly set up. ZenGo is a cutting-edge non-custodial crypto wallet that utilizes state-of-the-art MPC technology to optimally secure your digital assets. It’s safer than hardware wallets and more secure than centralized crypto exchanges, thanks to its built-in Web3 firewall, absence of private key vulnerability, and an account recovery system underpinned by advanced facial recognition software.


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

  Access your account: Sign into your Phemex app and click on the Wallet icon located at the bottom right of your screen.

Step 2

Initiate withdrawal: Locate and click on the “Withdraw” option in the blue section at the top of the app.

Step 3

Choose your cryptocurrency: A list of various cryptocurrencies will be displayed. Select the desired cryptocurrency for withdrawal. Ensure that you have sufficient funds in your Phemex Spot Wallet for the selected asset. Also, make sure that the asset is supported by the ZenGo app.

Step 4

Select a network: Pick a network that is supported by both Phemex and ZenGo.

Step 5

Enter the withdrawal address: Copy and paste the recipient’s wallet address manually, or you can use the QR code option. To view your destination address, open the ZenGo app, tap on the main “Action” tab in the bottom center of the screen, then click on “Receive,” then select the desired cryptocurrency to view the destination address or QR code.

Step 6

Input tags/memos if required: Certain cryptocurrencies may require tags/memos. If your chosen coin requires these, make sure to input the correct information.

Step 7

Enter the withdrawal amount: Before proceeding, review the minimum amount, transaction fee, available balance, and today’s remaining limit. After confirming these details, click “Withdrawal” to move to the next step.

Step 8

Review transaction details: All the transaction details will be displayed for your confirmation.

Step 7

Verify using Google Authenticator: Open your Google Authenticator app on your mobile device. Then Input the verification code provided by your Google Authenticator to ensure the safety of your assets.

Step 8

Confirm via email: An email will be sent to you regarding the withdrawal. Make sure you confirm your withdrawal within the time limit of 30 minutes. Review the withdrawal details again in the confirmation email. If all the details are correct, click “Confirm” to proceed.

Step 7

Check withdrawal history: You can view your withdrawal history in your Phemex app by tapping on the “Wallet” icon and then on the “Withdrawal” Icon in the upper right corner. If the withdrawal is still pending, you can still choose to cancel it at this point.

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.

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 Phemex.

Phemex is a Singapore-based centralized cryptocurrency exchange. It was launched in 2019 and offers its users a wide array of cryptocurrencies for buying, selling, and trading various types of cryptocurrencies. The platform includes features such as a wallet for storing digital assets and tools for executing trades. It supports different cryptocurrencies, including Bitcoin, Ethereum, and others. Its users range from individual retail traders to institutional investors.

The main difference between Phemex and ZenGo is that Phemex is primarily a centralized cryptocurrency exchange that offers cryptocurrency trading and custodial wallet services. This means that Phemex essentially holds the private keys that grant access to your digital assets. In contrast, with ZenGo’s non-custodial wallet app, you’re in full control of your private keys and hence your digital asset holdings. Another key difference is that while Phemex offers limited fiat onramp services, ZenGo, in addition to its onramp feature, provides a Web3-ready platform compatible with numerous Dapps.

Phemex has certain withdrawal limits in place that are dependent on the type of cryptocurrency you are dealing with. These limits are variable and can be updated over time based on market conditions and blockchain network fees. Therefore, for the most accurate and up-to-date information on Phemex withdrawal limits, we recommend visiting their official “Fees and Conditions” page.

When it comes to withdrawal processing times from Phemex, the exact duration can vary based on several factors. While specific information on their official site couldn’t be found, it’s important to consider that withdrawal processing times in the cryptocurrency industry can be influenced by network congestion, security checks, and other internal procedures. Additionally, the speed of the blockchain network associated with the particular cryptocurrency being withdrawn can impact the overall processing time.

In order to get the most accurate and up-to-date information on withdrawal processing times from Phemex, it is recommended to reach out to their customer support for specific details and any potential updates.

During the process of withdrawing cryptocurrencies from Phemex, users may encounter various challenges. These include restrictions from certain banks unwilling to accept funds from cryptocurrency exchanges, temporary suspensions of withdrawals on the platform, the completion of security authentication procedures, and platform-imposed withdrawal limits and limitations. On top of that, there is also the risk of writing an incorrect address or selecting the wrong network. Therefore, it is important for users to be aware of these potential issues and to reach out to Phemex’s customer support if they need assistance in resolving any problems that may arise.

To withdraw fiat currency from Phemex, you need to complete the KYC process and ensure you have sufficient funds in your fiat balance. Phemex offers a Bank Transfer service through one of its partners. 

Here are the steps to withdraw fiat on Phemex:

  • Register or log into your Phemex account.
  • Navigate to the Assets-Fiat Account menu and click on “Fiat Withdraw.”
  • Select the desired fiat currency using the drop-down menu and specify the sum you wish to withdraw.
  • Choose the payment method as “Wire Transfer” and click the “Withdraw” button.
  • Confirm the order details and either select a previously linked bank account or add a new bank account.
  • Submit the withdrawal request and allow some time for the funds to arrive in your bank account. 

It’s important to note that additional fees may apply, and the arrival time of funds may vary based on the fiat currency. For detailed instructions and reference, please visit the specific page on Phemex’s website dedicated to Fiat Withdrawals

Alternatively, if you want to withdraw your digital assets from Phemex but still want to hold them, you can transfer them to ZenGo, where you can store your crypto safely until the time comes to withdraw them to fiat.

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