After a couple of trading activities on Bitfinex, you may now go ahead and make your first Bitcoin withdrawal. Whether it’s a Fiat or cryptocurrency withdrawal, the process outlined by Bitfinex is straightforward, and anybody can do it even beginners. Take note though that only verified users can make a Fiat money withdrawal.
To help you achieve your first withdrawal, we have prepared this guide for you to follow.
To start, open the Bitfinex site through this link.
Log-in with the email address and password you used during registration, enter the Captcha text and click Log in.
For 2FA enabled account, enter the 6-digit code from the authenticator app and hit Authenticate.
Go to the ‘Withdraw’ section to start the activity.
From the Withdraw page select which cryptocurrency you would like to get the funds from under the ‘Cryptocurrencies’ panel.
Enter the receiving wallet address, the amount you want to send, the sending wallet and your Note if any. Tick the small boxes to confirm that you wish to add a note for this transaction and that you have understood all the terms and conditions. Click the ‘Request Withdrawal’ button to proceed. Also before sending the request, a ‘Receive Amount’ field will show which tells you the total amount you will receive less the Tx Fee. This action usually takes up to 12 hours to complete.
For you to withdraw Fiat money from your Bitfinex account, go to the ‘Withdraw’ section and select the currency you wish to take the funds from under Bank Wire. On the next page, fill in your wire information such as name, address and bank details.
If you choose ‘Standard Withdrawal’ the fee structure is 0.1% of the withdrawn amount with a minimum of $20.00 (processed within seven days). Whereas if it’s an ‘Express Withdrawal’ the fee is 1% and with a processing time of 24 hours or 1 business day.
You can check the withdrawal that you’ve just made from the ‘Withdraw’ page under the ‘Recent Withdrawals’ section.
With Gemini, you can deposit cryptocurrencies like Bitcoin as well as Fiat money, but first, make sure you have completed the account “Verification” process and have activated 2FA.
Here are the steps on how to deposit Bitcoin on your registered and confirmed Gemini account:
Click here to open the exchange site and click on “Sign in.”
Type in your registered email address and password, then click on “Submit.”
After logging in, go to “Transfer funds” then select on “Deposit Into Exchange” to start depositing funds on your Gemini account.
To deposit Bitcoin on Gemini, select your Bitcoin under “Deposit Into Exchange.”
Once you have selected your Bitcoin, you can generate your wallet address by scanning the QR code. Make sure the right address is entered when processing deposits as completed transactions can no longer be reverted and may result in losing funds.
To deposit Fiat money on Gemini, select your currency under “Deposit Into Exchange.” Next, select your funding source from the dropdown menu and enter your deposit amount. Click on “Review Deposit” and review the information that you supplied to avoid losing funds. Then confirm the transaction.
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