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It does not matter how much experience you have with crypto or how familiar you are with trading; there may come a time when you decide to transfer your assets away from the YoBit exchange into a safer and more secure non-custodial wallet, such as Zengo.
In this how-to withdraw money from YoBit guide, we will show you exactly how to move cryptocurrency out of your YoBit account and into your Zengo wallet. Make sure you follow the instructions carefully below to avoid making mistakes.
Before you can withdraw your funds from YoBIt, make sure you set up your Zengo crypto wallet. Zengo is the most secure solution for storing and managing your digital assets. With the power of Multi-Party Computation (MPC) technology, a Web3 firewall, and biometric security measures to ensure the safety of your account and assets, Zengo sets the standard for crypto wallet security.
After setting up the Zengo app and completing the onboarding steps, follow the instructions below to withdraw from YoBit to Zengo:
Log in to your YoBit account. Select the wallet (the token) you wish to withdraw from and click on “Withdrawal.” Check the Zengo app to verify that it supports your token; if not, consider swapping it for a compatible token first.
Enter the address for your recipient address (your Zengo wallet address). You can view your Zengo address by opening the Zengo app, tapping “Actions,” then selecting “Receive,” and selecting the token you want to receive.
Choose the amount you want to transfer.
Check the gas fees and other details such as the address, network, and the amount.
If all details are correct, click “Withdraw Request” to confirm. Please follow any instructions provided if you are asked to perform additional security checks.
In order to verify whether your funds have arrived, launch the Zengo app and check the main balance section. If you would like to see more details, click on the “History” tab to get an overview of your recent transactions.
Zengo is an advanced Web3-ready non-custodial cryptocurrency and NFT wallet that provides its users with robust security, enhanced functionality, and a comprehensive user experience. Zengo is an ideal platform for buying, storing, managing, and swapping crypto with the highest level of security.
Zengo offers the highest level of security for storing and managing your digital assets. It relies on biometric facial recognition and MPC technology to make sure only you can access and recover your digital assets. Furthermore, it comes with Web3 firewall protection, adding an extra layer of security when interacting with external Dapps.
Zengo is a non-custodial crypto wallet, meaning that you are always in control of your digital assets. You can choose how and when to access them, with total freedom, unlike other platforms, which can control or restrict your access. On top of that, Zengo provides a secure fiat-to-crypto onramp solution, making it easy to buy more crypto tokens and diversify your portfolio.
Whenever you experience a problem or have a question, our support agents are available 24/7 to assist you. Just contact us, and we will be more than happy to provide you with any help you might need.
Withdrawing from Zengo’s wallet to both crypto and fiat is a straightforward process. If you want to send crypto to another wallet, open the app, select “Actions,” and tap the “Send” button. Next, choose the cryptocurrency you want to send and specify the amount. Then, enter the receiving address and review all details before confirming the transaction.
Zengo also allows you to withdraw your crypto as fiat currency, with options for USD, GBP, and EUR. Simply tap on the “Actions” button located on the main menu, then click “Sell,” select the crypto you wish to withdraw and the fiat currency you want to receive, and enter the amount before confirming. Your funds will swiftly be transferred to the bank account linked to your Zengo wallet. It should be noted that if the desired asset is not currently supported for a fiat withdrawal, you can swap it for a compatible asset before requesting a withdrawal.
Below are answers to frequently asked questions regarding cryptocurrency withdrawals from YoBit.
YoBit is a cryptocurrency exchange platform that allows users to buy and trade a range of popular cryptocurrencies, like Bitcoin and Ethereum, as well as altcoins and meme coins. It was founded in 2014, and according to online sources, it appears to be based in Russia, although it is registered in Panama. Although some may claim that it has a cluttered interface, surprisingly, it is also known for being a stripped-down, no-frills platform that offers a wide range of assets and a straightforward approach that even beginners can understand. In addition, as opposed to a lot of other crypto exchanges, YoBit also offers anonymity to its users and doesn’t demand KYC or AML verification steps when registering for an account.
YoBit is a cryptocurrency exchange, while Zengo is a non-custodial crypto wallet. While both of these platforms claim to prioritize user security, the Zengo mobile wallet app makes use of advanced biometric protections and additional security measures which are not present on YoBit. Therefore, compared to YoBit, Zengo provides a greater level of security and convenience, making it easier for you to manage and invest in your portfolio. On top of that, as a Web3-ready wallet, Zengo allows you to interact with various Dapps.
YoBit imposes a range of variable withdrawal fees. The amount you have to pay in fees will depend on your withdrawal method, amount, and other factors, like network conditions at the time. The updated fee list and other relevant information can be found here.
Based on the information that we were able to find on the web, YoBit does not have any withdrawal limits. This means that users are able to withdraw any amount of cryptocurrency they like. Please note that you still need to cover the gas fees.
Any deposit or withdrawal transaction is initiated as soon as the user makes a request. Nonetheless, funds may take up to 24 hours to be withdrawn from YoBit. There are situations where a withdrawal may take longer, while others can be finished much faster. The speed depends on both the platform and the network.
There are several scenarios that can occur in which you won’t be able to withdraw. For example, there’s always a risk of your funds being lost for good if you enter the wrong information (address or network) on the withdrawal page. It is also possible that your bank would not agree to receive money from YoBit. As a rule of thumb, before you confirm any transaction, you must ensure that all the information is correct, especially the recipient’s address.
YoBit allows you to withdraw crypto to fiat following the standard withdrawal procedure. This is possible through debit cards or payment providers like AdvCash, Payeer, and Perfect Money. Alternatively, you can withdraw crypto from YoBit to Zengo so it can be stored safely until the right time comes to convert it to fiat using Zengo’s off-ramp “Sell” option.
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