After earning profits from lending or other transactions on Bitfinex, safely and efficiently withdrawing funds to a personal wallet or bank account is a key concern for every investor. This guide walks you step-by-step through the cryptocurrency and fiat (wire transfer) withdrawal processes on the Bitfinex platform, detailing operational procedures, precautions, and security tips to help you manage your assets effectively and minimize withdrawal risks.

Preparation

Account and Verification Levels

• Basic Plus Verification: Required to withdraw cryptocurrencies.
• Fully Verified Verification: Required to enable fiat (wire transfer) withdrawals.

Pre-Withdrawal Checklist

• Address/Bank Information Consistency: All withdrawal details must match your verified account information to prevent rejections or delays.
• Minimum Withdrawal Thresholds and Fees:
• Cryptocurrency: Varies by token, with fix fees.
• Fiat: Minimum of 10,000 for USD/EUR/GBP, and 1,000,000 for JPY.

Cryptocurrency Withdrawals

1. Log in to Bitfinex and go to the Wallet page, then click Withdraw.
2. Select Cryptocurrency.
3. Choose the desired cryptocurrency (e.g., BTC, ETH, USDT) and select the blockchain network.

• Carefully ensure that the recipient supports the chosen blockchain (e.g., ERC-20, TRC-20) to avoid loss of assets.

1. Enter withdrawal details:

• Wallet: Choose from Exchange, Margin, or Funding.
• Amount: Enter the withdrawal amount. The equivalent in USD is auto-calculated. Be aware of minimum limits for each token. Applicable fees will be auto-calculated.
• Optional settings:
• Deduct withdrawal fee from the withdrawal amount.
• Add a note (visible only to the sender).
• Greenlane Program: If enabled, withdrawals meeting specific criteria may be auto-processed.
• Other info (Tag/Memo/Payment ID):
• Certain tokens require additional information beyond the address. Check this in advance.
• If no tag is needed, check the "No Tag" box.
• Failure to include required tag/memo/ID may result in loss of funds.

1. Security Verification:

• 2FA: Enter your two-factor authentication code.
• Email or SMS Confirmation: Follow prompts to complete additional verification.

1. Track Withdrawal Status:

• Blockchain confirmations: Monitor via Bitfinex or blockchain explorers.
• Troubleshooting delays: May occur due to congestion or incomplete verifications. Contact support if needed.

Fiat Withdrawals (Bank Wire)

Supported Currencies and Minimums:

• USD, EUR, GBP: Minimum 10,000
• JPY: Minimum 1,000,000
• CNY: 75,000
• TRY: 10,000

1. Log in to Bitfinex, go to the Wallet page, and click Withdraw.
2. Choose Bank Transfer.
3. Enter Bank Details:

• Recipient bank account: Must match your verified information.
• Intermediary bank: Provide if applicable.
• Wire type and fee differences:
• Express Wire: 1 business day, 1% fee (minimum 125 USD/EUR/GBP).
• Regular Wire: 5–10 business days, 0.1% fee (minimum 100 USD/EUR/GBP, OpenPayd: EUR/GBP minimum 25).
• Additional handling fees may apply for errors or returns.

1. Track Withdrawal Progress:

• Arrival time: Usually 1–10 business days depending on the bank and international transfer process.
• Extra bank fees: Some recipient or intermediary banks may charge additional fees—confirm in advance.

Risks and Recommendations

• Address or network mismatches: Mistakes may result in irreversible fund loss. Always double-check.
• AML/KYC compliance and large withdrawals: Bitfinex may request documentation for large transfers.
• Recommendations:
• Perform test withdrawals in small amounts.
• Regularly review your account security settings.
• If using ALTINVEST with reserved/allocated fund settings, reset the amount to zero after completing withdrawals.

Conclusion

Bitfinex offers a diverse and flexible range of withdrawal options. By carefully following the outlined procedures and verifying all necessary information, users can withdraw funds securely and efficiently. We recommend staying vigilant, keeping your account security up to date, and reviewing all details before each transaction to ensure your assets reach their destination without issue. Happy trading!