Maybe you have made substantial profits from cryptocurrency trading or want to be in control of your own cryptocurrency holdings. Whatever the reason may be, there comes a time when you just want to withdraw your crypto from Poloniex and store it in a safer and more secure place. To be able to do this, you will need a safe and reliable cryptocurrency wallet to store your tokens before eventually selling them for fiat currencies and ‘’cashing out.’’
In this how-to withdraw from Poloniex guide, we will assist you in this process and tell you exactly how to withdraw Bitcoin, Ethereum, and other cryptocurrencies from your Poloniex account to your Zengo wallet without accidentally sending it to the wrong address or using the wrong blockchain network. This way, you can have peace of mind that your digital assets are stored safely with Zengo.
Before setting your cryptocurrency transactions in motion, you should set your Zengo wallet up correctly. Zengo is a next-generation non-custodial cryptocurrency wallet that makes use of 3FA through biometric facial login so that you are the only one who can access your crypto portfolio. Zengo features the latest MPC technology, a built-in Web3 firewall and provides users a gateway into Web3, Dapps, and decentralized finance.
You can check whether your crypto has arrived in your Zengo app by opening the app, logging in with your facial ID, and checking the main balance page. If you are unsure whether the crypto has been added to your balance, tap the ‘’History’’ button to be presented with a more detailed overview of your recent transactions.
Zengo is the world’s safest and most secure Web3-ready non-custodial crypto wallet that enables you to be in total control of your own private keys. Added to this, Zengo allows you to easily buy, sell, send, and swap cryptocurrencies on the go from the palm of your hand.
Zengo protects your digital assets with the latest biometric facial recognition 3-factor authentication software. Forget about writing down seed phrases or storing your QR codes in obscure places. Instead, make use of the latest MPC technology to store your crypto holdings in the safest way possible.
The non-custodial Zengo wallet allows users to be in total control of their own digital assets. Additionally, Zengo enables users to buy and sell cryptocurrencies whenever they want through its built-in onramp and offramp features.
Zengo offers real human customer support to assist all of its customers around the clock. If you have a question regarding your wallet or run into any problem, simply start a live chat with one of our friendly and professional customer support staff members to get help right away.
Zengo allows you to send crypto to other cryptocurrency wallets easily and to withdraw it in fiat to your connected bank account. To send crypto to third-party wallets, open the Zengo app, hit the ‘’Actions’’ button located in the main menu, select the cryptocurrency of choice, and paste the receiving address. Confirm the transaction, and the crypto transaction will be sent immediately without any delays.
To withdraw crypto to fiat with Zengo, tap the ‘’Actions’’ tab in the main menu of the app, followed by the ‘’Sell’’ button. Once you’ve done this, select the desired cryptocurrency you want to sell and specify the amount. Your digital assets will then be sold, and you will receive fiat currencies like USD, EUR, or GBP in return. When you have the fiat currency of choice in your Zengo wallet, click on the ‘’Withdraw’’ tab and follow the on-screen instructions to withdraw it safely to the bank account connected to your Zengo wallet. Note that this process may take several business days.
You can find more information about crypto withdrawals from Poloniex in the frequently asked questions section below.
Poloniex is one of the oldest and largest centralized cryptocurrency exchanges globally. It was founded in 2014 by Tristan D’Agosta, and it’s one of the most prominent digital asset exchanges in both user count and trading volume. The Poloniex platform lists over 350 cryptocurrencies and more than 200 trading pairs, including fiat currencies. Users can buy, sell, trade, and stake cryptocurrencies such as BTC, ETH, USDT, TRX, DOGE, SHIB, and more.
The main differences between Zengo and Poloniex are that Poloniex is a centralized cryptocurrency exchange where users can trade digital assets and store their holdings in custodial wallets, meaning that Poloniex essentially has control over their assets. With Zengo, users are in total control of their own private keys and thus cryptocurrency holdings through biometric 3FA. Additionally, Poloniex only offers trading services whilst Zengo offers its users a full-fledged gateway to Web3, Dapps, NFTs, and decentralized finance.
Poloniex’s withdrawal fees vary on a per-cryptocurrency basis. You can find out more regarding Poloniex’s latest withdrawal fees here.
Based on the info presented by Poloniex: Level 1 accounts can withdraw up to $10,000 daily by default. Users that have a level 1 account and 2FA enabled can withdraw $50,000 per day. Level 2 accounts can withdraw up to $500,000 daily by default and up to $1,000,000 when they enable 2FA. When you have a 2FA-enabled level 2 account and your withdrawal address is whitelisted, you can increase your withdrawal limit even higher by contacting the Poloniex support team.
Cryptocurrency withdrawals usually take up to 4 hours at Poloniex, but in some cases, it can take longer.
The most common problems that can occur when withdrawing crypto from Poloniex are that they get stuck on ‘’Awaiting Approval.’’ When this happens, we suggest contacting Poloniex customer support to speed up the process. Sometimes a transaction has been marked as fraudulent for no apparent reason, in which case you have to open a ticket manually via the Poloniex website. Poloniex’s withdrawal limits are quite high. Users can withdraw up to $10,000 per day without KYC, but if you want to withdraw more, you should undergo the KYC process and verify your identity.
You can withdraw crypto to fiat on Poloniex by selling BTC or USDT for Euros, Dollars, or Pounds and then use Simplex as a withdrawal method. Enter your personal IBAN and await the transaction to come through, which may take more than one business day. The maximum withdrawal limit is $10,000 per day for unverified users. If you want to withdraw more, you need to undergo the KYC process to raise your withdrawal limit to $500k per day.
As an alternative, you can transfer your funds to Zengo and then sell them for fiat later.
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