After a couple of trading activities on Bitfinex, you may now go ahead and make your first Monero (XMR) 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If you choose ‘Standard Withdrawal’ the fee structure is 0.1% of the withdrawn amount with a minimum of $20.00 (processed within seven days).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.
You can acquire funds in your BitBay account through digital currencies like Monero (XMR) orFiat money. The procedure for putting money on this platform is very understandable. Also, verification is not necessary when making a cryptocurrency deposit. However, if you intend to deposit using Fiat money, it is mandatory to have a verified account.
Here you will find steps that can help you make your first Monero (XMR) deposit on BitBay.
First off, access the log-in page of the exchange.
Once the log-in page is up, enter your registered email address or username and hit Log In.
Also, type in your chosen password and click Log In.
Retrieve the 6-digit code from the Authenticator app if you have enabled 2FA in your BitBay account.
After signing in go to the ‘Wallets’ section to start your deposit.
As mentioned, Monero (XMR) deposits do not require account verification. To initiate this process select the cryptocurrency that you wish to deposit from the left panel and click the ‘Acceptance’ box that appears on the right side. Always remember that the address is only intended for the chosen cryptocurrency.
Scan the QR code that is on the screen with the wallet address to where the funds will be coming from or enter the Deposit address. You can also generate a new address if you want. Just click ‘Generate address’ found at the bottom. The transfer is automatic, and funds will become available in your account after receiving the right amount of confirmations from the network.
For Fiat money deposits BitBay can accept USD, PLN, and EUR. In this step account verification is necessary.
To start, select the currency of your deposit from the left panel. In this example, we are using USD.
Click ‘Wire bank transfer’ on the right section of the page.
The account details of where you will make your Fiat deposit will show up on the screen. Make sure to copy the transfer description or account details as indicated by the system. Transfers are recorded three times a day during business days.
You can also make an express deposit at any Polish Post Office. The maximum amount of deposit you can make is 50 000 PLN, but not less than 10 PLN. The number of deposits is unlimited and only verified users could take advantage of this option.
From the options, select ‘deposit at the Polish Post Office’ or the first option beside Bank transfer.
Enter the amount of your deposit and click the ‘Deposit’ button.
Print the ‘Payment order’ and show this to the post office together with your payment. The funds will appear in your account in a maximum of 10-15 minutes.
You can view your deposits by clicking History and going to the ‘Deposits/Withdrawals’ section.
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