Whether you’ve been trading for years or you’re just getting started, sooner or later, you’re going to need to move your funds out of WazirX to a secure, non-custodial wallet, such as Zengo to keep them safe until you are ready to cash out.
In this how-to withdraw money from WazirX guide, we’ll provide clear step-by-step instructions on how you can transfer your cryptocurrency from your WazirX account into your Zengo wallet.
Before initiating any withdrawals from WazirX, please ensure that your Zengo crypto wallet is already set up. You can download the app right away to your Android or iOS device, after which you will simply need to follow the onboarding instructions to get started.
Zengo is an innovative Web3-ready, non-custodial crypto and NFT wallet that provides advanced security features like Multi-Party Computation (MPC) technology, biometrics, and a Web3 firewall in order to ensure the safety of your account and digital assets.
After setting up the Zengo app and completing the onboarding steps, follow these instructions to withdraw from WazirX to Zengo:
Log into your WazirX account.
Click on the “Funds” button and then pick the coin you want to withdraw. Make sure Zengo supports this specific token and network. If not, swap the coin for a compatible token and start over.
Click on “Withdraw” and paste in the destination address of your Zengo wallet. You can find your Zengo address in the app by tapping the “Actions” icon, then on “Receive,” and then on the asset that you want to receive.
Enter the amount you wish to transfer. You can also click on “Withdraw All” if you wish to withdraw the entire amount. If needed, you can also add remarks as a reference.
Click “Proceed” and enter a one-time password from your mobile device to confirm the transaction. To finalize the withdrawal, you will also need to click the “Approve this withdrawal” link sent to your email address.
To ensure that your funds have been successfully transferred, simply open the Zengo app. Verify that the amount you withdrew has been added to your main balance. If you wish to view a more comprehensive transaction history, click on the “History” option from the main menu.
Zengo offers the highest levels of security, functionality, and user experience. With Zengo, you can buy, sell, and trade a wide range of digital assets, such as Bitcoin, Ether, The Sandbox, Tether, Pepe, Dogecoin, and many more. On top of that, Zengo’s WalletConnect integration allows it to connect to a growing number of Dapps via Web3.
Zengo stands apart from other platforms as a fully self-custodial wallet, which means you have full control over your crypto holdings and NFTs. Plus, Zengo offers an intuitive fiat gateway service, making it simple for you to diversify your portfolio and invest in new cryptocurrencies using fiat money.
Zengo provides 24/7 customer support, ready to assist you at any time. So, if you run into difficulties while using Zengo or need support with a particular process, our team of customer support representatives will be here to assist you around the clock every day of the year, including weekends and holidays.
Withdrawing from your Zengo wallet is straightforward. Open the Zengo app, select “Actions,” and tap on the “Send” button. Choose the digital currency you would like to withdraw, input the amount, and then specify the receiving address. Make sure the information you provide is accurate before confirming your withdrawal.
Zengo also provides the option to withdraw crypto as fiat currency, which includes USD, GBP, and EUR. Simply navigate to the “Actions” menu, select “Sell,” choose the digital currency you wish to withdraw and the fiat currency you would like to receive, and type in the amount. After confirming, the funds will be quickly transferred to your linked bank account.
Here are answers to some frequently asked questions about cryptocurrency withdrawals from WazirX.
WazirX is a global cryptocurrency exchange that allows users to trade a wide range of cryptocurrencies, as well as providing useful P2P features. Users can access its services through web browsers, Android, iOS, macOS, and Windows apps. WazirX was founded by Nischal Shetty, Siddharth Menon, and Sameer Mhatre and is one of the leading Indian crypto exchanges. Like many other exchanges, WazirX has its own utility token known as WRX, which can be used for a wide range of purposes in addition to trading. The WazirX platform has its advantages, including its compatibility with multiple devices and operating systems, fast transactions, fast KYC process for new members, and intuitive design.
WazirX is mainly a crypto exchange platform that also offers P2P features to its users. Zengo, on the other hand, is a leading secure, non-custodial crypto and NFT wallet that supports trading, buying, selling, and storing crypto. On top of that, with Zengo’s WalletConnect integration, as well as its Web3 firewall, Zengo’s users can access a growing list of Dapps. When it comes to securing your digital investments, Zengo is the best choice.
WazirX charges different withdrawal fees depending on which kind of cryptocurrency you’re looking to withdraw from the platform.
WazirX has various withdrawal limits, with minimum limits applying to all forms of crypto withdrawals. This is something to keep in mind, as you may not be able to withdraw very small amounts. As a result, it is not uncommon for users to swap their altcoins for more popular tokens if they intend to withdraw them to other wallets.
The time it takes to withdraw from WazirX can vary based on several factors, such as the specific asset, network conditions, and more. However, most withdrawals are typically processed in less than an hour, although some may take up to 24 hours.
Potential issues when withdrawing from WazirX may include entering an incorrect wallet address, which could result in lost and unrecoverable funds or unexpected transaction fees. Always double-check all details before confirming a withdrawal and review the fees to avoid any surprises. Aside from that, it may be necessary for your account to be verified before making a withdrawal.
As of August 2023, WazirX only supports fiat withdrawals into Indian Rupees, which can take up to 72 hours. If you’d like to withdraw crypto to another major fiat currency, like US dollars or Euros, you’ll first need to transfer the funds to an external wallet like Zengo and then withdraw to your bank from there.
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