How To Withdraw Money From Onchain Wallet? – A Complete Guide
Learn How To Withdraw Money From Onchain Wallet? with this simple step-by-step guide. Understand withdrawal steps, fees, bank transfer process, and pro tips for safe and hassle-free transactions.
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If you are a trader or investor of cryptocurrencies, then you must already know how much of a crucial tool a safe and easy-to-use wallet is. Among the popular ones is the Onchain Wallet, where you can store, send, and receive crypto assets safely. But most beginners would ask themselves – How To Withdraw Money From Onchain Wallet? Relax, in this article, we will explain step by step the way to do it in a simple-to-understand and user-friendly format.
What is Onchain Wallet?
Firstly, let us know what it is, before we learn How To Withdraw Money From Onchain Wallet? Onchain Wallet is a decentralized cryptocurrency wallet that provides you with full control of your cryptocurrency assets. Compared to centralized wallets, you own your private keys, hence it is more secure and reliable for long-term storage.
Steps: How To Withdraw Money From Onchain Wallet?
It is easy to withdraw your cryptocurrency or cash out in real money. Here's how:
1. Login to Your Onchain Wallet
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Open the Onchain Wallet app or website.
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Enter login details or seed phrase if required.
2. Choose the Asset You Would Like to Withdraw
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Proceed to the "Wallet" page.
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Choose the coin you would like to withdraw (e.g., Bitcoin, Ethereum, etc.).
3. Input Withdrawal Address
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Copy the recipient's wallet address (another exchange, wallet, or friend's wallet).
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Paste it carefully into the withdrawal field.
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Double-check always for typos.
4. Insert the Amount
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Enter the amount you want to withdraw.
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Make sure that you have enough balance to pay for transaction/network fees.
5. Confirm the Transaction
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Double-check the information.
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Tap on "Confirm" or "Send."
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You might be asked for 2FA (Two-Factor Authentication) for additional security.
6. Monitor Your Withdrawal
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Once settled, your transaction will be executed on the blockchain.
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It will take a few minutes to finalize, depending on network speed.
Can You Withdraw to Bank Directly?
If you're wondering How To Withdraw Money From Onchain Wallet? directly to your bank, the process has an extra step. You'll need to withdraw your crypto from Onchain Wallet into a cryptocurrency exchange (like Binance, Coinbase, or Kraken) and exchange it for fiat currency (USD, EUR, INR, etc.). After that, you can withdraw the money to your bank account.
Pro Tips for Seamless Withdrawal
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Always check the withdrawal fees before sending.
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Send via the correct network (ERC-20, TRC-20, BEP-20, etc.) depending on your crypto.
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Never share private keys with anyone.
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For large transactions, test with a small withdrawal first.
Final Thoughts
Learning How To Withdraw Money From Onchain Wallet? is the need for every crypto trader and investor. It is simple to perform – login, select your asset, input the address, confirm, and track. To withdraw to the bank, act as a bridge by the crypto exchange. Take careful steps, and you can have hassle-free transactions and complete control of your money.
