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If you choose ‘Standard Withdrawal’ the fee structure is 0.1% of the withdrawn amount with a minimum of $20.00 (processed within seven days).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 LakeBTC, you can deposit cryptocurrencies like Bitcoin as well as Fiat money.
Here are the steps on how to deposit funds on your registered and confirmed LakeBTC account:
Click here to open the exchange site.
Log in using the email address and password you’ve registered for LakeBTC.
Once you’re logged in, you will be redirected to the ‘My Wallet” page. Click on “Deposit” and select on the preferred sub-account you wanted to transact.
For Bitcoin deposit, select your Bitcoin. In this example, we are using BTC.
Copy the deposit address or scan the QR code and type in the six-digit code to send the transaction. It is a must to copy the correct address before submitting the transaction. Otherwise, you may lose control of your Bitcoin as it can no longer be reverted.
After processing the transaction, you can click on “Deposit History” to view pending deposits.
If you prefer to deposit using Fiat money, select your preferred currency from the sub-accounts. In this example, we are using USD.
Select your desired payment method and type in the amount, then click on the Submit button. A new window will pop-up asking for your confirmation. Click on the Create Deposit Request Now button.
It is highly advised to double check your account number before sending your funds. Once you sent it to the wrong account, it cannot be undone and your money can be lost permanently.
After processing the transaction, you can click on “Deposit History” to view pending deposits.
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