Navigating the crypto markets can oftentimes feel overwhelming. How to buy crypto, where to buy it, who to trust, how can I withdraw my crypto, these are all very common questions, and unfortunately the answers are not always readily available. Fortunately, we’re here to change that. Since launching in 2017, our number one priority has been to offer a secure platform with fast and simple methods to buy, sell and trade cryptocurrencies.
How Can I Withdraw My Crypto?
So you’ve bought crypto through our instant Oobit Buy function and now want to withdraw it. Here we’re going to show you the ropes in how to withdraw crypto from Oobit, below we will use Bitcoin as an example.
Once you’re logged in, from your dashboard select your Sell option in the left hand menu.
A menu will automatically open to your right, and select the Sell Crypto option on the right (as indicated with the arrow below). Then choose which cryptocurrency you would like to withdrawal from the wallets available.
Enter the amount that you would like to sell (you can toggle between currencies by selecting the arrow icons). When you are happy click Continue and Confirm the amount on the next page.
You will then be asked where you would like the funds to be sent, presented with a list of options including credit or debit cards, Apple Pay, Google Pay, SEPA and wire transfer. Once you have selected you will be asked to enter the relevant information.
A verification code will be sent to your email address which you will need to enter before confirming the transaction. An email will then be sent confirming the transaction.
How To Send Crypto
Alternatively, you can send your crypto to another crypto wallet by selecting the Send option in the left hand menu and then choosing your cryptocurrency in the dropdown menu (indicated with arrows below).
Simply enter the amount that you would like to send, the wallet address and a note if you wish. Again we will confirm this with a verification code and once accepted, execute the transaction.
What To Know About Crypto Withdrawals
Here are some commonly asked questions regarding crypto transactions.
- How long will it take?
Typically crypto transactions take anywhere from 5 - 60 minutes depending on the cryptocurrency and how busy the network is at that time.
- What are network fees?
Each cryptocurrency varies in amount, however network fees are generally paid by the user and sent directly to the miner who verifies your transaction. Oobit does not get a share or profit from this in any way. These are worked out based on how busy the network is at the time (the more busy, the higher the fee) and are automatically calculated by Oobit and added to your amount. To learn more you can read more about BTC network fees here.
- Are there any hidden costs?
No, what you see is what you get. The only "extra cost" is the transaction fee, which is calculated and displayed before you confirm the transaction.
- What are the withdrawal limits?
Depending on your current KYC verification, the amount of crypto that you can withdraw will vary. Verified Level 1 and 2 users have a limit of 0.2 BTC or equivalent, while users with the Oobit Pass have unlimited daily BTC withdrawals.