How can I set up a withdrawal?

 

If you would like to make a withdrawal from your SMART VALOR account to another exchange you need to navigate to the “My Wallet“ section of the exchange. This can be found in the sidebar on any page of the exchange.



Once you are here, you will automatically see all of your Cryptocurrency assets. Please select the desired currently and then click on the “Withdraw” button at the top right of the Currency overview.



A screen displaying the withdrawal form will appear on the screen. It will look something like this:


Withdrawal form


Once you have selected the desired amount and the wallet you would like to send the funds to you can click the “Withdraw” button to send the funds. The withdrawal will reach the destination wallet as soon as it is processed on the blockchain.


What should I keep in mind when making a withdrawal?


When you make a withdrawal to an external wallet please make sure to always use the correct wallet address for the currency you are withdrawing.


Be mindful of the type of wallet you are sending the funds to, currently we do not support BEP20 tokens, so make sure that the external wallet supports the ERC20 version of tokens.


If you are sending a currency that requires a Memo ID or Destination tag, to a wallet that doesn’t have one, you need to check what the default Memo ID/Destination tag for the wallet is. Usually, wallet makers like Ledger provide guides on how to send funds from exchanges that force providing a Memo ID/Destination tag upon withdrawal.


Be mindful of your withdrawal limits, if your withdrawal exceeds your daily or yearly withdrawal limit the transaction will not be processed. In such cases, you would have to either wait until your limits reset, or upgrade to a higher verification level.



Disclaimer: Please note that due to regulatory requirements, we are not allowed to process withdrawals to exchanges that do not require KYC verification.