It is very important to ensure that you either are completely confident with the platform or have full control over the wallet address that you are sending funds to. We strongly recommend users conduct their own independent research and due diligence when dealing with external third parties.
When completing a coin withdrawal through the CoinSpot Mobile App, users will have the choice of which Transfer Network that can be utilised when sending the desired coin. Please note that each network will incur different Transfer Network fees.
What is in this article?
- How to send to an external wallet address (No Memo)
- How to send to an external wallet address (Memo)
We encourage users to conduct their own independent research into selecting the correct Transfer Network for your coin withdrawal as some platforms/wallets may not be optimised to support the same Transfer Network.
Attempting to send via an incorrect network may result in a loss of your coins or in some cases an ‘Invalid Address’ message may appear and your send will not progress.
For illustrative purposes, we will be using Bitcoin (BTC) & Ripple (XRP) as a guide.
How to send to an external wallet address (No Memo)
The first step is to obtain your receiving wallet address from the external wallet/platform.
When sending coins to an external wallet, please take note of the minimum withdrawal amount and transaction fee for a sending transaction.
1. Tap on ‘Wallets’.
Figure 1. CoinSpot Mobile App - Sending to an External Wallet - (Wallets Button)
2. Tap or search for ‘Bitcoin’.
Figure 2. CoinSpot Mobile App - Sending to an External Wallet - (Coin Search)
3. Tap on ‘Send’.
Figure 3. CoinSpot Mobile App - Sending an External Wallet - (Send Button)
4. Paste your Bitcoin Receiving Wallet Address(1) from your external wallet into the empty field. > Then tap Next(2).
⭑Optional: Check with your external wallet provider to determine the transfer network they accept before making your coin send.
⭑⭑Optional: If your receiving wallet provider offers the ability to generate a QR code as your receiving wallet address, you can scan the code using the button at the end of the BTC address field.
Figure 4. CoinSpot Mobile App - Sending to an External Wallet - (Entering Wallet Address)
5. Enter the amount of Bitcoin you wish to send in AUD or BTC denomination(1) > Then tap on Next(2).
⭑Optional: If you wish to send your entire Bitcoin holdings, tap on ‘Send Max’.
Figure 5. CoinSpot Mobile App - Sending to an External Wallet - (Initiating a send)
6. Once you are ready and have reviewed the Transaction Summary details, tap on ‘Submit’ to initiate the send.
Figure 6. CoinSpot Mobile App - Sending to an External Wallet - (Confirming Send)
7. You will then be prompted with the 2FA page to initiate the coin send. Enter your App Based 2FA token(1) > Then tap on Confirm Send(2).
Please note, coin sends via the Mobile App will require active App Based 2FA for the withdrawal to be confirmed.
Figure 7. CoinSpot Mobile App - Sending to an External Wallet - (2FA Token)
8. You will receive a confirmation email in your email inbox. Once you are ready to initiate the send, tap on the withdrawal link to confirm this.
If you change your mind and need to cancel the send, you will need to complete this on the CoinSpot website, please follow the visual guide here.
Figure 8. CoinSpot Mobile App - Sending to an External Wallet - (Email Confirmation)
How to send to an external wallet address (Memo)
As an example, we will use Ripple (XRP) to complete an External Wallet Transaction with a Memo.
When sending assets with a wallet Destination Tag/Memo, details can be acquired from your external receiving wallet. Sending without entering a memo may result in a lost transaction.
1. Tap on ‘Wallets’.
Figure 9. CoinSpot Mobile App - Sending to an External Wallet - (Wallets Button)
2. Tap or search ‘XRP' / 'Ripple’.
Figure 10. CoinSpot Mobile App - Sending to an External Wallet - (Coin Search)
3. Tap on ‘Send’.
Figure 11. CoinSpot Mobile App - Sending to an External Wallet - (Send Button)
4. Paste your XRP Wallet Address(1) from your external wallet into the empty field > Enter in the Memo(2) > Then tap on Continue(3).
⭑Optional: If your receiving wallet provider offers the ability to generate a QR code as your receiving wallet address, you can scan your QR code using the function next to the XRP Address field.
Figure 12. CoinSpot Mobile App - Sending to an External Wallet - (Entering Wallet Address)
5. Enter the XRP you wish to send in AUD or XRP denomination(1) > Then tap Continue(2).
⭑Optional: If you wish to send your entire XRP holdings, tap on ‘Send All Available’.
Figure 13. CoinSpot Mobile App - Sending to an External Wallet - (Initiating a Send)
6. Once you are ready and have reviewed the Transaction Summary, tap on ‘Confirm Withdrawal’ to initiate the send.
Figure 14. CoinSpot Mobile App - Sending to an External Wallet - (Confirming Send)
7. You will then be prompted with the 2FA page to initiate your coin send. Enter your App Based 2FA token(1) > Then tap on Confirm Send(2).
Please note, coin sends will require working App Based 2FA for the withdrawal to be confirmed.
Figure 15. CoinSpot Mobile App - Sending to an External Wallet - (2FA Token)
8. You will receive a confirmation email in your email inbox. Once you are ready to initiate the send, tap on the withdrawal link to finalise this.
If you change your mind and need to cancel your send, you will need to complete this on the CoinSpot Website, please follow the visual guide here.
Figure 16. CoinSpot Mobile App - Sending to an External Wallet - (Email Confirmation)
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.
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