How to Withdraw Cryptocurrency to an External Wallet

Cryptocurrency withdrawals allow users to transfer their digital assets from an exchange platform to an external wallet. This guide covers the step-by-step process, fee considerations, batch withdrawals, and troubleshooting tips.

Step-by-Step Withdrawal Process

1. Generate a Withdrawal Quote

Initiate the process by creating a crypto_transfer quote with the side parameter set to withdrawal.

Example API Request (ETH Withdrawal):

{
  "product_type": "crypto_transfer",
  "customer_guid": "your-customer-guid",
  "asset": "ETH",
  "side": "withdrawal",
  "receive_amount": 250000000000000000
}

Key Notes:

receive_amount must be in base units (e.g., wei for ETH).
Precision is critical to avoid rounding errors.

2. Understand Network Fees

The API response includes gas fees:

{
  "network_fee": 2900000000000000,
  "network_fee_asset": "ETH"
}

Fees are deducted from the partner’s trade revenue.
Fees fluctuate based on blockchain congestion.

3. Execute the Transfer

Use the quote’s GUID to submit the withdrawal via the transfers endpoint:

{
  "quote_guid": "your-quote-guid",
  "transfer_type": "crypto",
  "external_wallet_guid": "your-external_wallet_guid"
}

4. Monitor Transfer Status

Check the transfer status with:

GET /api/transfers/{transfer_guid}

Completion typically takes 2–10 minutes.

Handling Large Withdrawals (>$3k USD)

Authorization Delay: Manual approval required.
Mitigation Tips:
- Schedule withdrawals between 6 AM–10 PM ET.
- Request auto-authorization for recurring withdrawals.

👉 Optimize withdrawals with pre-approved addresses

Batch Withdrawals (Bitcoin/UTXO Chains)

Combine multiple withdrawals into one transaction to save on fees.

API Request Example:

{
  "product_type": "crypto_transfer",
  "asset": "BTC",
  "side": "withdrawal",
  "destination_accounts": [
    {
      "type": "external_wallet",
      "guid": "38c462a81fa2df40f4206e5407a36730",
      "deliver_amount": 15000
    }
  ]
}

Response Fields:

network_fee: Total fee for the batch.
entries: Individual transfer details.

Troubleshooting

Common Errors

network_fee_too_low: Adjust fees or use auto-sign wallets for sub-$50k transfers.
Delays: Contact support for allowlisted destinations.

👉 Resolve withdrawal issues instantly

FAQs

1. How long do crypto withdrawals take?

Most complete within 2–10 minutes, depending on blockchain congestion.

2. Why was my large withdrawal delayed?

Transfers over $3k USD require manual authorization.

3. Can I withdraw multiple cryptos in one request?

Batch withdrawals are supported for UTXO-based chains (e.g., Bitcoin).

4. How are network fees calculated?

Fees depend on gas prices and are displayed in the quote response.

5. What’s the minimum withdrawal amount?

Varies by asset (e.g., 0.001 BTC). Check the platform’s documentation.

Summary

Use precise base units for amounts.
Monitor gas fees to avoid errors.
Leverage batch withdrawals for UTXO assets.
Pre-authorize large withdrawals to reduce delays.

For advanced features, explore our developer tools.