When sending coins to an external wallet address, we advise all of our users to ensure that they are sending their holdings to an external wallet in which they have full control of.
If you would like further information as to how to protect yourself from scams, please have a read of our Protecting yourself from scams article.
What is in this article?
Sending coins to an external wallet address (BTC Send)
In the following example, we will be using Bitcoin (BTC) as an illustrative example to assist you with sending coins to your external wallet.
The first step is to obtain your receiving wallet address from your external wallet.
Locating your sending wallet
1. Select 'Wallets'.
Figure 1. Sending to External Wallet - (Wallets Page)
2. Search for Bitcoin(1) via the search function > Select Open BTC Wallet(2).
Figure 2. Sending to External Wallet - (Opening Wallet)
Initiating your send
3. When you are in your Bitcoin wallet, select Send(1) > Enter the Amount, External BTC receiving wallet address(2) > Enter your 2FA token(3) > Then select Send(4).
⭑Optional: If you wish to send your entire balance, you can also utilise 'Send all available'.
⭑⭑Optional: If you do not have App Based 2FA enabled, you can select ‘Send the code via SMS’, you will be sent a SMS message with your 2FA token.
App Based 2FA - If App Based 2FA is not enabled, please have a read of our How to setup 2FA article.
Invalid Wallet Address - If you are receiving invalid wallet address, please contact our knowledgeable Support team to assist you with making your send.
Figure 3. Sending to External Wallet - (Initiating a send)
OPTIONAL STEP - Selecting a Transfer Network
When making a coin withdrawal, some coins may have multiple different transfer networks available along with different transaction fees associated with that. We would strongly recommend you to check with your external wallet provider as to whether they support the transfer network before making your coin send.
To send via a different transfer network, please follow the instructions below.
Select Default(1) > Select a Transfer Network(2) to send your coins to.
Figure 4. Sending to External Wallet - (Multiple Transfer Networks)
4. A confirmation email will be sent to your email inbox, review the details and confirm the withdrawal by pressing on the confirmation link.
If you can not locate the confirmation email please have a read of our Not receiving our emails article.
Figure 5. Sending to External Wallet - (Confirmation of send)
The coins generally arrive shortly after. If the status is pending, please contact our Support team and we can provide further assistance.
Destination Tag/Memo ID
A Destination Tag/Memo ID, is a unique identifier which is assigned to each recipient of a transaction.
If you are attempting to send coins to an external wallet from CoinSpot, please review your external wallet/platforms receiving wallet for that coin to locate your Destination Tag/Memo ID before initiating your send.
List of coins that requires users to include their unique Destination Tag/Memo ID
Figure 6. Sending to External Wallet - (Destination Tag/Memo ID)
*BNB (BNB), Ethereum Classic (ETC) & Fantom (FTM) - Please do note the following has multiple receiving transfer networks, if users are using BNB BEP-2 Transfer Network, a memo is required.
Each coin has a different transfer network from one another.
To determine the transfer network when sending or receiving coins to and from CoinSpot, head on over to your coins wallet page and under the Receives Tab you will be able to review which transfer network we transact on.
To determine your external receiving wallets transfer network, please review the receives/deposit page for your external sending wallet.
Need more help?
Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new
or start a conversation with us via Live Chat and our team will provide full instructions and advice.