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If you choose ‘Standard Withdrawal’ the fee structure is 0.1% of the withdrawn amount with a minimum of $20.00 (processed within seven days).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 WEX, you can deposit funds using a variety of cryptocurrencies as well as Fiat money.
Let’s follow these steps to help you deposit funds on your registered and verified WEX account:
Click here to open the exchange site.
Log in using the email address and password you’ve registered for WEX.
After logging in, select on “Finances” to view your funds.
For Bitcoin deposit, select your Bitcoin under “Funds” and click on the “Deposit” box. In this example, we are using Bitcoin.
Scroll down the page to view your wallet address. Copy the deposit address where you need to send your funds or generate a new one. It is a must to pay attention when you’re copying it as Bitcoin transaction cannot be reversed, and if you’re not careful, you will end up losing your money.
After depositing, you will see your recent deposit transaction at the bottom of the page, or go to ‘History,’ to check all transactions made.
For Fiat money deposit, select your currency under “Funds” and click on the “Deposit” box. In this example, we are using USD.
Select your payment method from the drop-down menu and enter your amount. Click on “Deposit” to continue. A new window opens up where you need to confirm your deposit. 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 depositing, you will see your recent deposit transaction at the bottom of the page, or go to ‘History,’ to check all transactions made.
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