Ultimate guide on how to transfer
Algorand (ALGO) from Bibox to Bitfinex

Step by step guide on how to withdraw Algorand (ALGO) from your Bibox account

In Bibox, only cryptocurrencies are allowed (no Fiat money).

We are going to teach you how to withdraw Algorand (ALGO) from your Bibox account and here are the steps:

Open the Bibox website – https://www.bibox.com

Log into your account by entering the email and password you registered.

Go to “Assets” located at the top bar beside your profile.

 

From the Assets page, go to the “Withdraw” section. Select your Algorand (ALGO) and enter the required details such as the amount and the withdrawal address. Pay attention to the wallet address that you’re copying as processed Algorand (ALGO) withdrawals can no longer be reverted. If you transact with the wrong one, you will lose your money permanently. Click the Withdraw Algorand (ALGO) button to continue.

 

To check on the status of the withdrawal transaction that you just made, go to the “Withdrawal” section.

 

Awesome! You have just successfully withdrawn Algorand (ALGO) from your Bibox account.

Step by step overview on how to deposit Algorand (ALGO) on Bitfinex

At Bitfinex, any registered user can make a deposit either through cryptocurrencies like Algorand (ALGO) or Fiat money. However, it is mandatory to have a verified account if you intend to process a Fiat money deposit. Just like other exchanges, the funding process for this platform is very understandable.

This guide will help any individual make his/her first deposit on Bitfinex a success.

  1. Deposit Algorand (ALGO) on Bitfinex
  2. Deposit Fiat money on Bitfinex

Click this link to access the exchange site.

Log-in using your registered account. Make sure to copy the Captcha text.

Get the 6-digit code from the authenticator app if you have enabled 2FA on your Bitfinex account. Click the ‘Authenticate’ box after entering the 2FA code.

After logging in click the Deposit tab on the top of the page.

1. Deposit Algorand (ALGO) on your Bitfinex account

Depositing Algorand (ALGO) does not require a verified account. So while waiting for the verification request approval, you can process cryptocurrency deposit first.

From the Deposit section, locate the Cryptocurrencies panel and choose which currency you want to fund.

Read the guidelines on the screen especially regarding the fees before proceeding.

After grasping all information check all the boxes and hit the ‘ I understand. Continue.’ button.

Bitfinex offers three types of wallet addresses. The most commonly used is the Exchange Wallet which users can use for buying & selling supported tokens. The other two are Margin Wallet (trading on margin) and Funding Wallet (provides finance for other margin traders).

Select which wallet address you want to fund and click on ‘Click to generate address’ button. Additionally, tick on the icon just beside ‘Click to generate address’ to copy the address to the clipboard. This action will make sure that you’re copying the correct one.

To complete this step, you have to enter the Bitfinex address to the external wallet from which you intend to access and send the funds. There is a minimum of 20 confirmations (approximately 5+ minutes) before the funds get credited to your Bitfinex account.

Perfect! You have deposited Algorand (ALGO) on your Bitfinex account. 

 

2. Deposit Fiat money on your Bitfinex account

If your account verification request already gets approval, you may also deposit Fiat money to it. From the deposit section, locate ‘Bank Wire’ and choose the currency you wish to fund from the list.

Follow the instructions on the page such as providing the bank details from which the funds will be coming from and other necessary information needed to complete the process. Always see to it that everything you enter is accurate and updated to avoid errors and delays. You will get a notification once the funds get credited to your Bitfinex account.

You can check your deposit transaction on the Deposit section under Recent Deposits.

Great job! You have effortlessly funded Algorand (ALGO) on your Bitfinex account.

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