PrimeXBT Withdrawal Guide: Currencies, Fees & Time

The PrimeXBT Withdrawal function lets you move the cryptocurrency balance from your PrimeXBT account to a crypto wallet. This type of transfer is regarded as an ‘on-chain’ transaction because the transfer takes place through the blockchain. You can also make ‘off-chain’ transfers which are P2P transfers. Keep in mind that once you execute a withdrawal, the process is non-reversible.

The PrimeXBT wallet maintains a high level of security and uses multi-signature access for maximum protection against attacks. They allow only a limited balance for online cryptocurrency storage in the hot wallet while following a policy of processing all the pending withdrawals once every day within a specified time. 

However, if the clearance team at PrimeXBT suspects suspicious activities in the accounts, it reserves all the rights to review the request for withdrawal before the process gets approved. This can delay the process of transferring your amount to your wallet.

What Are The Cryptocurrencies That You Can Trade in PrimeXBT?

PrimeXBT deals only with a minimal range of cryptocurrencies, namely:

• Bitcoin (BTC)
• Covesting (COV)
• Ethereum (ETH)
• USD coin (USDC)
• Tether (USDT)

In addition to this, PrimeXBT also allows all its users to buy cryptocurrencies that are supported by debit/credit SEPA transfer.

PrimeXBT Withdrawal Fees

With tons of cryptocurrency exchange platforms available to the public, there are a lot of factors you need to consider before you choose which platform to trade and invest in. Some of the main factors are the platform’s authenticity, the user interface, the safety and security of the platform, and the fees you need to pay the platform to use its services.

A platform can have many features, but you will not have a successful career trading and investing in cryptocurrency if the fees are too high to use these services. The best part about cryptocurrencies is turning this digital currency into real money. However, you need to withdraw your funds to an external wallet if you want the money to reflect in your account. Additionally, you have to pay a small fee to withdraw your funds from your bank account.

Typically, for most cryptocurrency exchange platforms, the withdrawal rate is fixed. So no matter how much money you withdraw, you will have to pay the same fees to the platform. The only difference in the withdrawal fee is the type of coins/ currency you are withdrawing.

For example, the rates will differ for Bitcoin and Ethereum, but the rate for both will remain the same no matter how much you are taking out of your account. However, there are no charges incurred for deposits you want to make in your account at PrimeXBT.

What Are The Withdrawal Fees For Crypto On PrimeXBT?

The PrimeXBT fees associated with withdrawing Bitcoin is only 0.0005 BTC, which is almost a 40% slash from the average global market. For the rest of the cryptocurrencies on PrimeXBT, the withdrawal fees are as follows:

• 30 USDT for Tether
• 0.01 ETH for Ethereum
• 0.035 COV for Covesting
• 0,0230 USDC for USD coin

PrimeXBT Withdrawal Time

Between 12:00 UTC to 14:00 UTC, all the pending withdrawal requests are processed by PrimeXBT. If you make a withdrawal request before 12:00UTC, you will see the funds reflected in your external wallet within the same day of the request. If you sent your request after 12:00 UTC, the order would be processed only on the next day.

How To Withdraw From PrimeXBT

1. Log into your PrimeXBT account
2. Got to your Dashboard
3. Click on the cryptocurrency that you want to withdraw
4. Click on the withdraw button
5. Enter the address of your desired external wallet where you want the funds to get transferred to
6. Enter the number of funds you want to withdraw from your account
7. Tap on the “Submit to withdraw” button.
8. PrimeXBT will send a confirmation email to your registered account.
9. Go to your email and click on the verification link. 

Remember that PrimeXBT will add the processing fees for the type of cryptocurrency you want to withdraw to the final bill. Also, make sure that you always double-check your information before confirming the transaction because withdrawal processes are non-refundable and irreversible. If you lose your coins, you will never be able to get them back.

How To Add A Withdrawal Address For PrimeXBT Withdrawals

1. Log into your account
2. Go to your dashboard
3. Click on the “withdraw” for whichever asset you want to withdraw
4. Enter the withdrawal address you want to change to
5. Confirm the changes
6. You will receive an email from PrimeXBT with a link to verify your changes.

How To Cancel Withdrawals On PrimeXBT

Once the withdrawal process is successfully executed, you cannot reverse the process. However, since PrimeXBT works to process all the pending withdrawals before 11:00 UTC, if you follow these steps before the time limit, PrimeXBT can process the cancellation request for withdrawal.

1. Log into your PrimeXBT account
2. Go to your dashboard
3. Click on the wallet that you want to cancel the withdrawal process from
4. Search for a ‘Transfer history’ option
5. Tap on the ‘X‘ button for which withdrawal request you want to cancel

How To Review The Status of Fund Withdrawals On PrimeXBT

1. On your dashboard, go to ‘Transfer History.’
2. Look for the ‘Reports‘ page
3. Scroll till you see the withdrawal request you want to track. The screen will show the status of your request in detail.

PrimeXBT Withdrawal FAQs