It doesn’t matter whether you’re an experienced full-time digital asset trading veteran or just started out in the wonderful world of crypto. Sooner or later, you’ll be at that moment where you simply want to cash in your profits and move your assets to a more secure wallet. When this is the case, you’ll need a safe and reliable wallet to store your digital assets on before eventually selling them for fiat currencies.
In this how-to withdraw money from Uphold guide, we will explain to you in great detail how to withdraw your crypto portfolio from Uphold and store it on your ZenGo wallet instead without making any mistakes.
Before withdrawing any funds from Uphold, make sure you have your ZenGo app all ready to go first. ZenGo is a Web3-ready non-custodial wallet that makes use of industry-leading MPC technology to ensure your digital assets are secured in the best way possible. ZenGo performs better than any hardware wallet and is more secure than any centralized cryptocurrency exchange as it uses biometric 3FA technology, has no private key vulnerability, and has a built-in Web3 firewall.
You check whether the funds have arrived in your ZenGo app by opening the app and checking the main balance page. If you want to be provided with a complete overview of your most recent transactions, simply tap the ‘History’ button.
ZenGo is the world’s leading Web3-ready non-custodial wallet that uses biometric key phrases instead of mnemonic ones. This makes sure only you have access to your funds. Apart from that, ZenGo offers a beginner-friendly UI, multi-asset support, and it allows you to easily hold, buy, and swap your cryptocurrencies through both its own platform and external (DeFi) applications.
ZenGo is truly best-in-class when it comes to digital asset security, as it provides its users with 3-factor authentication through biometric facial recognition and state-of-the-art MPC technology. Forget long seed phrases and QR codes and take your crypto to the next level.
With ZenGo’s non-custodial wallet app, you are in total control of your own digital assets. In addition, ZenGo allows you to easily expand your digital asset portfolio by buying additional cryptocurrencies with fiat via ZenGo’s fiat onramp services.
Tired of chatting with bots all the time? ZenGo provides real human support, around the clock, every single day of the year, even during the weekends and holidays.
ZenGo enables its users to easily send, convert, and store digital assets. In the case you want to send crypto to other users or external wallets, simply click on the ‘Actions’ tab located in the main menu, followed by the ‘Send’ button, and then follow the on-screen instructions to finalize the transaction.
To withdraw crypto to fiat using ZenGo, tap the ‘Actions’ tab, followed by the ‘Sell’ button. Specify the amount you want to sell and confirm the sale of your digital assets. At this point, you can withdraw United States Dollars, Euros, or British Pounds (whichever currency you’ve set your account to be in) to the bank account connected to your ZenGo wallet app.
You can find more information about withdrawals from the Uphold platform in the frequently asked questions section below.
Uphold is a global multi-asset digital trading platform founded in 2013 where users can buy and sell cryptocurrencies, national currencies, equities, and precious metals. Apart from these assets, users can invest in unique environmental assets like Bitcoin Zero and other carbon credit tokens and participate in staking to gain attractive yearly yields on their cryptocurrency investments.
The main difference between ZenGo and Uphold is that ZenGo gives its users complete control over their private keys as it is a non-custodial wallet, whereas Uphold provides custodial services and essentially has the ultimate control over its user’s funds. Another key difference is that Uphold is a centralized exchange, whilst ZenGo is a gateway to (DeFi) and Web3 applications. Uphold also provides extensive staking services where users can generate a passive income with crypto by storing it on Uphold and gaining a reward for doing so.
As of the writing of this guide, Uphold charges no percentage-based withdrawal fees on cryptocurrency withdrawals but a fixed fee of $2,99 and standard miner fees apply. On the other hand, fiat withdrawals by bank transfer are charged $3,99 and third-party costs may apply.
Uphold withdrawal limits vary per payment method used and geographical location where you are residing. You can find more information regarding Uphold’s withdrawal limits on this page.
According to Uphold’s customer support staff, cryptocurrency withdrawals from Uphold are usually processed within 30 minutes, while bank wire transfer withdrawals in fiat take anywhere from 2 to 5 business days.
The main problems that can occur when withdrawing money from Uphold are that you either copy the wrong receiving address or select the wrong blockchain network to use during a withdrawal. Please note that if you send digital assets to a non-existing wallet address, the tokens will be “burned” and cannot be accessed anymore. You may also run into problems when withdrawing money from Uphold if you run into daily, weekly, or monthly account limits.
To withdraw crypto to fiat on Uphold, tap the ‘Transact’ icon at the bottom of your screen, followed by ‘From,’ and choose the crypto you want to withdraw. Then tap the ‘To’ field, select your bank account, confirm the transaction, and enter the 6-digit code generated by your authenticator app.
Alternatively, you can transfer your assets to your ZenGo crypto wallet and withdraw to fiat whenever you like.
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