If you are using FTX wallet and want to withdraw your fund’s fiat or crypto like bitcoin to another exchange or bank account. Then this is a complete guide that will walk you through step by step and show you the exact process.
If you are doing this for the first time, buying, selling, and withdrawing always looks a little bit complicated, on almost every exchange but once you do it manually, things become and look easier than you think.
That is the case at FTX withdrawal here. You only need four-step that are simple, easy, and can be done in a short time.
How To Withdraw Money From FTX App?
First, you will have to log in to your ftx account. No matter, if you are using their website or app. The process is the same, however, the interface is a little different but user-friendly.
Once you have logged in, now go to your wallet where all your funds are stored. In the below screenshot you can see how it looks both on the app and website.
As you can see your wallet shows all the funds that you own and have stored on your ftx wallet. You can see that in front of every coin, there are multiple options like deposit, withdrawal, and transfer.
For example, If I want o to withdraw crypto coins like Solana for this example to the Binance exchange. The first step is to go to the Binance account and copy the Solana deposit address from there. Once copied, click on withdrawal in front of Solana on the ftx app or website.
A new window opens that asks you for the address you want to send Solana to, and the amount of Solana.
Paste that address you copied from Binance and verify the two-factor authentication. This is required for your security. Once verified, click on withdraw and you are done.
Now your funds are requested for withdrawal and may take some time. You can check the details by clicking on the withdrawal section tab.
How To Withdraw Fiat Currency From FTX To Bank Account?
You learned the withdrawal of crypto, now it is time to learn how to withdraw fiat currency from your FTX account to your bank account.
The first step is to go to your wallet again.
In the second step, select the withdrawal type by clicking on the withdrawal tab. A new window will open with a few options like this.
There are multiple options like USD stable coins, BTC, and fiat withdrawal.
Select the withdrawal fiat.
Now add the bank details and the amount you want to transfer. Verify the authentication and you are done successfully. You have now withdrawn your fiat to your bank account from FTX wallet.
Note: if you don’t have fiat currency in your wallet. Then you have to convert your crypto currency into fiat currency on FTX wallet.
Convert you bitcoin or any other cryptocurrency into USD. Once converted, then you can withdraw it to your bnk account.
What IS the Fee for Withdrawing Crypto From FTX to Another Exchange Or Hardware Wallet?
FTX allows withdrawing cryptocurrencies to your hardware wallet or any other exchanges with zero fees. This is why FTX is one of the fastest-growing exchanges in the world.
However, there are a few exceptions:
- If you are withdrawing bitcoin less than 0.001, then you will be charged a fee.
- You will also be charged for withdrawing ethereum from ftx wallet
- Others ERC20 tokens will also have some fee on withdrawing the other coins like Solana, DOT, MANA, and all BEP tokens can be withdrawn from FTX to other exchanges with zero fees.
What IS the Fee for Withdrawing FiatFrom FTX to Another Exchange Or Hardware Wallet?
Withdrawing fiat from FTX has some rules. If you are going to withdraw more than $5000, then it is free of cost. Ou will not be charged a single penny by FTX. No problem, if you are sending it where.
In case, you are going to withdraw less than $5000, then you have two options:
- Withdraw your funds with the following fee depends on the currency you want to withdraw
2- the second option is that FTX gifts you one free withdrawal from FTX every week. You can wait for it, and benefit from this offer if you do not have to withdraw more than once a week.
How much can you withdraw from FTX?
You can withdraw unlimited crypto and up to $1 million in fiat currencies The good thing is that fiat currency above $5000 is free, without any charges.
When can I withdraw from FTX?
You can withdraw your assets from FTX to any other exchange, hardware wallet, and bank account.
Can I withdraw from FTX to my bank account?
Yes, you can withdraw your funds to your bank account from FTX. However, you should keep in mind that you can only withdraw fiat to your bank account. Crypto assets can not be withdrawn from the bank account.
If you have a cryptocurrency and want to withdraw it to your bank account, first you will need to convert your crypto to fiat currency in your FTX wallet. Which is straightforward.