Whether you are a first-time user or someone who is interested in getting into the cryptocurrency market, there are many various methods that you may transfer cryptocurrency. On a spot market, some customers choose making direct transfers from fiat currency to cryptocurrency via Multibank.io or any other exchange medium. On the other hand, not all cryptocurrencies can be bought using fiat currency.
Before you can acquire the cryptocurrency of your choice, it is possible that you will first need to complete an additional step in which you convert your fiat currency into a stablecoin such as BTC crypto, which is tied to the value of the US dollar. After you have made the purchase of the cryptocurrency of your choice, you will have the option to withdraw it from your account and store it in an external wallet.
When it comes to doing business on the internet, a rising number of individuals are gravitating toward the usage of cryptocurrencies, which are also referred to as virtual currencies in certain circles. And it’s not hard to see why. The ease of use, safety, and typically cheaper costs required to transact in bitcoin are just some of the numerous advantages offered by this kind of digital money.
If you have a lot of experience in the crypto industry, then you probably already know all there is to know about FTX. This is an exchange facility for cryptocurrencies that was developed by traders for traders. If you are new to the world of cryptocurrency exchanges and are interested in learning how to deposit cryptocurrency, you have come to the right place.
No matter what kind of equipment you use, the following article will walk you through the process of depositing cryptocurrency on FTX in a clear and concise manner.
- The Step-by-Step Guide to Withdrawing Cryptocurrency from Coinbase
Coinbase is used for the purchase of cryptocurrencies by most individuals throughout the globe, including in the United States. However, because not all of them maintain it there, we are going to look at how to transfer your bitcoin from Coinbase to FTX today. Coinbase is one of the places where you may hold your cryptocurrency.
First things first, you need to access your Coinbase account. This is the primary display on the dashboard. To send and receive messages, use the “Send/Receive” button located in the upper right corner.
There is a button labeled “send” located on the screen. When you click on it, it will bring up a window asking for all the information like which cryptocurrency would you want to have withdrawn, how much of it would you like to transfer, and where would you like it sent to?
Choose the coin that you wish to take out of your account. After you have completed your choices, it is time to retrieve the deposit address, and you have the option to utilize the search box if you so want. To do this, you’ll travel to FTX in order to get our deposit address from them.
- Address for deposits received from FTX
Once you have successfully logged into the FTX account, you will be greeted with a site. To access the submenu, hover your mouse pointer over the blue tab that says “Your Account” towards the top of the page. This tab will also display your email address.
If you go to this menu and choose “Wallet,” you will be sent to a new page where you will be able to see all the assets.
On this page, you are going to be able to see your digital assets. Every asset has its own dedicated deposit, withdrawal, convert, and even lending button. You may either use the search box or scroll down to locate the cryptocurrency that you are looking for.
Once you have located the cryptocurrency that most appeals to you, you should next choose the “deposit” option that is shown on the screen. This will take you to a pop-up page where you can enter your deposit address.
Click the copy button on that URL, and then choose the appropriate network from the drop-down menu. Your choice of network has a significant impact on the cost of membership that you will be required to pay. A blockchain network that is really clogged and congested will cost you a lot of money and will take some time, but a network that is inexpensive and quick will serve you much more effectively. Make sure that both exchanges support the network; if you transmit cryptocurrency from one network to another, you will end up losing it.
- To return to Coinbase
After inputting the money, pasting the address that you obtained from FTX, and selecting the coin that had the appropriate network, the transaction was completed. You are at the point where you can press the “send now” button. Check everything carefully to make sure that there is nothing that has been overlooked.
You will arrive at the confirmation page immediately after your click on the send now button. You will see the address to which you are sending the transaction, the amount that you are transferring expressed in terms of both dollars and crypto coins, as well as the combined cost of the Coinbase charge and the network fee. You will also be provided with an estimate of the amount of time required for it to arrive at FTX. When you are ready and confident, click the “Send now” button on your keyboard.
Following this, there is nothing further that is required of you. Your coins will be transferred to FTX shortly; all you need to do is wait till they arrive.
The Bottom Line
Transferring cryptographic keys isn’t exactly a complicated process. If you’re not familiar with cryptography, using these techniques may need extra steps or workarounds. You may try out Binance Gift Cards, which are always a wonderful alternative, Coinbase, which is always an option, and Multibanks.io, which offers the greatest support, if you are searching for the simplest method to send, transfer, and receive cryptocurrency.