Whether you're new to digital assets or a seasoned user, understanding the process of withdrawing cryptocurrencies is essential for managing your funds effectively. This FAQ will take you through the fundamentals and equip you with the knowledge you need to complete a crypto withdrawal.
How to withdraw to an external wallet
- Go to "Transact" in the application.
- Select your source of funds for the transaction.
- Tap on "Select Destination."
- Use the vertical scrollbar to navigate to "Crypto Networks."
- Select the desired crypto network for the withdrawal. (For multichain assets only: On “Select transfer network”, choose the preferred network)
- Click on the "Preview Withdrawal" button.
- Enter the network address you want to withdraw to. Alternatively, you can tap the QR code button to use your smart device camera to scan the cryptocurrency address.
Keep an eye out for…
While crypto deposits are generally straightforward, there may be common challenges. Here are some issues you might face:
- Incorrect Address: Always double-check wallet addresses to avoid sending funds to the wrong place. Sending funds to the wrong wallet address* is a frequent mistake.
- Understand Fees: Be aware of network fees and transaction costs that may apply to your transaction.
- Destination Tag/Memo: Some networks require a destination tag or memo for specific transactions. Ensure you provide the correct tag or memo to avoid complications.
- Security Concerns: If you're concerned about transaction security, our Fraud and Security Hub addresses this issue.
- Account Verification: Some transactions, like large withdrawals may require additional verification.
- Unsupported Tokens: Not all tokens are supported. Before proceeding, double-check if the token you want to transfer is not only compatible with the network, but also - and this is very important - supported by Uphold as well.
- Unsupported Networks: Tokens can exist on various networks. Ensure that the Uphold address you choose supports the particular token on the specific network you intend to use.
*Note that in certain networks, addresses are case-sensitive, as is the case with Constellation (DAG) or XRPL (XRP/CORE/SOLO).