Blockchain is the foundation: how to properly withdraw crypto assets

Blockchain is a technology that ensures security and transparency when transferring digital assets. When withdrawing funds from a trading platform to your own wallet, you transfer assets directly to the blockchain, bypassing intermediaries. In this guide, we will cover the complete process of withdrawing cryptocurrency, applicable to most modern trading platforms.

What is a blockchain withdrawal and why is it important

When you withdraw assets via blockchain, it means that the cryptocurrency is sent to a distributed ledger network. Blockchain is not just a database — it’s a system where each transaction is recorded, verified, and becomes an integral part of the history. Withdrawing assets in this way requires increased caution, as errors cannot be undone.

Preliminary preparation: security first

Before starting the withdrawal process, ensure that two-factor authentication is enabled. It is recommended to use Google Authenticator or a similar app for generating verification codes. Also, verify that you have access to the email address linked to your account — confirmation codes will be sent there.

First steps: choosing the withdrawal section

Begin by navigating to the assets section, usually located in the top right corner of the platform’s main page. Find the “Withdraw” or “Send Assets” button (the name may vary depending on the platform). You can also go to the financial accounts management section and select the specific coin you want to withdraw. Important: make sure you are withdrawing from the funding account, not the trading account. If your assets are on another account, transfer them to the main account first.

Choosing the wallet address: three options

At this stage, you need to specify the destination address. There are several ways to do this:

1. Direct address input — manually paste the wallet address into the address field. Be extremely careful: even one wrong letter can lead to asset loss.

2. Select from saved addresses — if you have previously withdrawn assets, addresses may be saved in your address book. Choose the desired address from the list.

3. Add a new address — if the address is not in the list, add it to the platform’s address book. Adding a new address may require additional verification for security reasons.

Choosing the blockchain network: how to avoid overpaying

Blockchain is not a single network — it consists of multiple parallel chains. For each coin, several withdrawal options may be available (e.g., Ethereum, Polygon, Arbitrum for USDT). Each network has its own fee level:

• Bitcoin — the classic network with generally higher fees but maximum security
• Ethereum — a versatile network, popular for tokens
• Polygon, Arbitrum, Optimism — Layer 2 solutions with low fees but less liquidity
• Specialized networks — for specific projects (Solana for SOL, Avalanche for AVAX)

Pay attention to the fee size for each network. During high traffic periods, fees can increase significantly.

Specifying the withdrawal amount

Enter the amount of assets you want to withdraw. If you wish to withdraw all available funds, click “All” or “Max.” The system will automatically calculate the minimum withdrawal limit for the selected coin and network. Remember that some coins have daily and monthly withdrawal limits. You can check this information in the withdrawal limits section.

Special requirements for certain coins: If you are withdrawing XRP, ATOM, XYM, XLM, XEM, or other coins that require a tag or memo, be sure to specify this tag during withdrawal. Forgetting this can lead to irreversible asset loss or significant delays.

Confirmation and verification: double security

After entering all data, click “Confirm.” The system will redirect you to the final confirmation page. Here begins the verification process:

If your address is not yet verified and not on the “white list,” you will need to complete two-factor authentication:

1. Email verification — a confirmation code will be sent to your registered email. The code is valid for only 5 minutes, so act quickly.

2. Google Authenticator 2FA — enter the 6-digit code from the Google Authenticator app.

If your address is already added to the white list and verified, you can skip 2FA and proceed directly to submit the request.

Final submission

After successful verification, click “Send.” Your withdrawal request via blockchain is officially registered. The platform will provide you with a confirmation containing the transaction ID (TXID), which you can use to track the withdrawal status on the blockchain network.

Processing times and failures

The withdrawal process usually takes from 15 to 30 minutes, but during periods of high network congestion, it can extend to an hour or more. Don’t worry — this is normal. You can track the status by entering the TXID into a blockchain explorer (e.g., Etherscan for Ethereum networks, BscScan for BSC).

Possible issues:

• Email not received — check your spam folder
• Transaction stuck — may be due to gas issues or network congestion
• Address not recognized — ensure you copied the address completely and it is intended for the correct network

Key points and recommendations

Remember, blockchain is an immutable system. Every mistake has consequences. Always double-check the address before sending, especially if it’s your first withdrawal to that address. Use copy-paste instead of manual entry to avoid typos. Start with a small amount when withdrawing to a new address — verify that the assets arrived correctly before withdrawing the rest.

When choosing a network, balance between fee and confirmation speed is crucial. Layer 2 solutions are more economical but may have less liquidity. Classic networks are safer but more expensive. Choose based on your needs.

And most importantly: regularly update your authentication app and keep your data secure. Two-factor verification is not just bureaucracy — it’s your reliable protection against unauthorized withdrawals.