Whether you’re an experienced crypto investor or just getting started, there will come a time when you’ll need to transfer your digital assets out of WhiteBIT and into a secure, non-custodial wallet. This will ensure your assets are safeguarded until you decide to convert them into fiat currency.
In this step-by-step guide on how to withdraw funds from WhiteBIT, we’ll walk you through the entire process to assist you in moving your digital assets from the WhiteBIT platform to your Zengo wallet.
To get started with your withdrawal from WhiteBIT, make sure you have already created and verified your Zengo account.
Zengo offers a Web3-ready, non-custodial wallet for cryptocurrencies and NFTs equipped with cutting-edge security mechanisms like Multi-Party Computation (MPC) technology, biometric authentication, and a robust Web3 firewall designed to safeguard both your assets and your privacy.
As soon as you have configured the Zengo app and completed the initial setup, follow these instructions to move your funds from WhiteBIT to Zengo:
Log into your WhiteBIT account. On the “Main Balance” page, click the crypto you want to withdraw and press “Withdraw.” Make sure Zengo is compatible with the cryptocurrency and network. If it’s not, swap it with a compatible token, then start over.
Fill out the form with the necessary information, like your Zengo address and the desired amount to withdraw. If required, include the network of the token as well. You can find your Zengo address inside the app by clicking the “Actions” icon, then clicking on “Receive,” and then choosing the asset you wish to withdraw.
Review the information and check that everything is correct. Also, check the withdrawal fee that will be charged. Then click “Withdrawal Request” to proceed.
Enter the 2FA verification code on the next screen, and also check your email for the second confirmation code from WhiteBIT. Fill out both fields and then click on “Confirm withdrawal request.”
Open your Zengo app to check if your transfer has been completed. The homepage should show your updated balance, including your latest transaction. As an alternative, you can click on the “History” tab located on the main menu for a full list of all transactions associated with your account, including recent deposits.
As one of the safest and most secure crypto and NFT wallets out there, Zengo offers a range of features and advanced security measures to keep your assets safe. With Zengo, you can buy, sell, and trade a wide variety of cryptocurrencies, including Bitcoin, Ethereum, USD Coin, Tether, Dai, Shiba Inu, Polygon, Dogecoin, and many others. Additionally, thanks to Zengo’s WalletConnect integration, you can connect your wallet to a continuously growing list of Dapps via Web3.
Zengo provides heightened security for all your digital assets by substituting conventional seed phrases with state-of-the-art biometric facial recognition technology, an intelligent account recovery mechanism, and advanced MPC technology. Additionally, Zengo also includes a powerful Web3 firewall to guarantee your safety when you interact with Dapps.
The non-custodial nature of Zengo ensures that you maintain absolute control over your digital asset portfolio. It has no private key vulnerabilities to worry about. In addition, it also offers fiat onramp gateway services, allowing you to easily invest in new digital currencies using your preferred fiat currency.
Zengo offers 24/7 customer support, even on weekends and holidays, with a team of professionals on standby, ready to handle any issues you may be experiencing. Feel free to send your inquiries via the live chat within the app or through email. Alternatively, you can browse our Online Help Center for general information and to learn more about Zengo and the array of services we provide.
Withdrawing from Zengo is a straightforward process. Simply open the app, select “Actions,” then click “Send.” Pick the crypto you want to withdraw, specify the amount, input the recipient’s address, and review the details before finalizing the transaction.
Zengo also supports crypto withdrawal, letting you cash out your crypto into major fiat currencies like USD, GBP, and EUR. To begin, select the “Actions” menu, click “Sell,” select the crypto, pick the fiat currency, input the amount, and confirm. The funds will then be transferred to the bank account linked to your Zengo wallet.
Here are answers to some frequently asked questions about cryptocurrency withdrawals from WhiteBIT.
WhiteBIT is a European crypto exchange based in Ukraine. It was founded in 2018 by Vladimir Nosov and has emerged as one of the largest crypto exchanges in all of Europe. In addition to offering a wide selection of cryptocurrencies for trading, WhiteBIT also supports other advanced services, such as margins, futures, crypto lending, and a crypto visa card that can be used as a method of payment. As of today (August 2023), WhiteBIT has reported that it already has more than 4 million accounts on its platform, and it supports the trading of more than 350 pairs and over 270 assets, with around $2.5 billion trading volume per day.
WhiteBIT and Zengo are both platforms where you can trade and store different cryptocurrencies. However, they function and work in different ways. WhiteBIT is a centralized Ukrainian crypto exchange primarily designed for facilitating trading activities while offering more advanced features such as lending, margin, futures, and more. As a centralized exchange, it acts as a custodian for its users’ investments and has direct control over their access to those assets. Zengo, on the other hand, provides a secure, non-custodial crypto and NFT wallet, giving its users complete autonomy over their assets. In addition, Zengo’s Web3 firewall and WalletConnect integration allow users to safely engage with a growing selection of Dapps, expanding the scope of their crypto experience.
Similarly to other crypto exchanges, WhiteBIT has withdrawal fees that you’ll need to pay whenever you want to move funds out of your account. The withdrawal fees for each transfer will depend on which asset you want to transfer and the blockchain conditions at the time. Fees can change from day to day, so make sure you check the amount of the fee when reviewing each withdrawal before you confirm it.
WhiteBIT has its own withdrawal limits that change based on the token you wish to withdraw. It is possible that you will also need to verify your account to have a higher maximum withdrawal limit. You can learn more about WhiteBIT’s withdrawal limits here.
According to WhiteBIT’s website, withdrawals from WhiteBIT are typically processed very quickly. In fact, most withdrawals take place within 10 minutes. However, the process does take longer in certain cases. Sometimes, you may have to wait up to 24 hours for the funds to arrive.
Withdrawing cryptocurrencies from an exchange like WhiteBIT comes with certain risks. The biggest risk is that you might enter the wrong details, choose the wrong network, or make a slight error on the destination address for your Zengo wallet. If that happens, the funds might get lost forever, so it’s best to always double-check the info before confirming a withdrawal. Aside from that, it is possible that you will need to verify your account (KYC) before you can withdraw certain amounts. Also, WhiteBIT stated on their site that delays may occur when the withdrawal amount exceeds $100,000. If you encounter any difficulties, do not hesitate to contact their customer support team.
WhiteBIT supports fiat withdrawals directly to your bank account. To do this, visit the Spot Trading page and find a suitable trading pair to sell your crypto for fiat money. Or, use the Trade menu to activate a Quick Exchange and pick which crypto you want to exchange for an equivalent amount of fiat money. Then, you will be able to withdraw your fiat currency into your linked bank account. Alternatively, you could transfer your funds to Zengo first and then withdraw to fiat from there.
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