Quick Answer:
To withdraw money from Bittrex, first ensure you have a compatible digital wallet. It is strongly recommended that you withdraw funds from Bittrex as quickly as possible before liquidators take control and a withdrawal deadline date.
Our recommended exchanges are:
- For United States:Â Kraken
- For United Kingdom:Â CoinJar
- For Europe & International:Â Binance
- For Australia & NZ: Swyftx
Log in to your Bittrex account, click on “Holdings,” choose the wallet to withdraw from, and click “Withdraw”.
Note:Â You might want to convert all of your cryptocurrencies into a single cryptocurrency to make the transfer easier, rather than having to transfer multiple assets.
Enter the recipient’s wallet address (this will be listed in the exchange/wallet you are moving to if you click deposit) and the amount you wish to withdraw, double-checking all details for accuracy. If two-factor authentication is enabled, you’ll need to provide the six-digit code to confirm the transaction.
Withdrawal times vary as transactions must be verified by network users before being confirmed. To check the status, look under “Withdrawals” on the Bittrex Balance Page or use the transaction ID on the public blockchain.
Ensure you have sufficient funds to cover the withdrawal and any associated fees, which Bittrex charges to cover network transfer costs. The minimum withdrawal must be greater than three times the fee, and each cryptocurrency may have its own minimum requirement.
Bittrex has shut down which means if you have funds on there you need to withdraw them elsewhere before withdrawals aren’t allowed. As of Dec 4th all trading on the platform has ceased but you can still withdraw your cryptocurrencies from the exchange. We’re here to help you with our step-by-step guide that’s going to walk you through the whole process with ease. Let’s begin!
How to Complete a Bittrex Withdrawal
To complete a Bittrex withdrawal, simply follow these four easy steps:
- Step 1. You’ll need a place to withdraw your funds to, most exchanges and wallets make this very easy. Our recommended exchanges are:
- For United States: Kraken
- For United Kingdom: CoinJar
- For Europe & International: Binance
- For Australia & NZ: Swyftx
- Although you’re free to use any third-party wallet you like, we recommend using the ones above, because they are very intuitive and can be used to store multiple cryptocurrencies at the same time.
- Step 2. Once you’ve decided on a wallet, sign in to your Bittrex account. In the top-right corner on their site, you’ll spot the “Holdings” button. Click on it and select the wallet address that you want to withdraw money from or input it manually. Click “Withdraw”.
- Step 3. Insert the Recipient Wallet Address and the Quantity that you want to take out of your wallet. Always double-check the information from your input because you don’t want to risk losing your funds by accident. Some cryptocurrencies may require a payment ID or some kind of memo, tag, or message that will be sent together with the coins. Once again, make sure you provide the correct details. Then, click “Withdraw”.
- Step 4. If you have activated the two-factor authentication when you were registering for your account, you’ll be asked to insert the six-digit code and then press “Confirm”. If you haven’t, this is a good time to enable this security method. This will verify the transaction and give the green light for the platform to process it. At this point, you’ll just have to sit back and wait for the funds to reach your account.
How Much Time Does It Take for the Funds to Show up in My Wallet?
We can’t say for sure because the transfer depends on a couple of things. But it’s definitely not going to be instantaneous. Every transaction needs to be verified by the network users before it’s confirmed and entered into the blockchain. Different coins have their own hash rate, mining methods, and a different number of miners.
Here’s how you can check the status of your transaction:
- If you’ve sent the transaction request correctly, it will appear under “Withdrawals” on the Bittrex Balance Page. If you can’t find it there, wait for 24 hours before contacting customer support.
- You can access the public blockchain and insert your transaction ID to check its status. If the transaction says “Broadcast,” it means it still hasn’t been verified by the miners. If it’s not there, check the “Pending Withdrawals” section. If you see the comment “Invalid” or “Unauthorized” next to your transaction, it won’t go further.
- Sometimes traders forget to authorize their transaction so make sure you’ve input the 6 digit code. Check the receiving address again. Unfortunately, If you got it wrong, you lose your money forever.
- Are you sure you had enough money in your wallet to cover for both the transaction and the fee that comes with it? You don’t? In such cases, the money won’t leave your account until you add enough to cover both costs.
- Finally, check if your transaction meets the minimum requirements. Remember, it has to be at least three times the fee. Some currencies have their own minimum requirements as well. If you fail to meet such tiers, your transaction won’t go through.
Frequently Asked Questions
Are There Any Rules for Withdrawals?
There’s only one rule listed on the platform’s official website. It says the following: “The minimum withdrawal for all coins must be greater than 3 times the fee. For example, BTC has to be 0.00150001 or greater as the fee is 0.0005.”
What Are the Withdrawal Fees?
Bittrex doesn’t intend to profit out of withdrawal fees but since every cryptocurrency has its own network transfer fee built into it, the platform has to charge a small amount to cover this fee. The amount is shown at the end before you confirm the transaction, so you always have the option to change your mind and cancel it.
Final Notes
As we illustrated to you, withdrawing money from Bittrex is quick and simple, so there’s nothing to worry about.
The only thing you should keep an eye on is the differences in fees for different cryptocurrencies. That, and making sure you enter the right information before hitting the send button.
About The Author
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
Check James out on: