Navigating the crypto markets can oftentimes feel overwhelming. How to buy Bitcoin, where to buy it, who to trust, how to withdraw Bitcoin, 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.
Oobit is available to a global network of traders, offering everything from finding the best Bitcoin prices “skyscanner”-style, Oobit Direct, P2P marketplaces, to our Oobit Pass which allows you to use one KYC verification on several other platforms. We’ve refined the processes and made buying, selling and trading Bitcoin the most seamless experience that it can be.
How To Withdraw Bitcoin (BTC) From Oobit
So you’ve bought BTC through our instant Oobit Direct feature and now want to withdraw it. Here we’re going to show you the ropes in how to withdraw Bitcoin from Oobit.
Once you’re logged in, go to your dashboard, and select your Bitcoin Wallet (as indicated with the arrow below).
This will take you to your Bitcoin wallet, from where you can deposit or withdraw Bitcoin. On the right hand side you will see the Send Bitcoin block.
Here you can add the wallet address or phone number of the recipient, the amount, and review the total transaction.
- When you add a wallet address on Oobit, you are invited to save it under a description (i.e. Personal, Business, Jane, etc.). After adding a new address you will need to confirm it through an email sent immediately after entry. The transaction will no be processed until the wallet address has been confirmed. Users also have the option of sending BTC funds to a phone number. Note the recipients will receive the funds even if they don’t have a crypto account.
- When entering the amount of BTC you’d like to send, you can toggle between the USD value or the BTC value by selecting the arrow icon next to the amount (see both options below). Once you have entered the amount, review the amount, the transaction fees and the send net total. Click Continue when you are ready to proceed.
After clicking Continue, you will receive a verification code through SMS or email, once this is entered your transaction will be processed.
What To Know About BTC Withdrawals
Here are some commonly asked questions regarding BTC transactions.
- How long will it take?
Typically BTC transactions take anywhere from 10 - 40 minutes depending on how busy the network is at that time.
- What are transaction fees?
Bitcoin transaction fees are paid by the user and sent directly to the miner who verifies your transaction. 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. You can read more about BTC transaction 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 withdrawal.
- What are the withdrawal limits?
Depending on your current KYC verification, the amount of BTC that you can withdraw will vary. Verified Level 1 and 2 users have a limit of 0.2 BTC, while users with the Oobit Pass have unlimited daily BTC withdrawals.