It's relatively simple to withdraw both cryptocurrency and Australian dollars from your CoinSpot account.
While AUD can only be withdrawn to a valid Australian bank account, you should be able to withdraw your crypto to any suitable wallet address, meaning your own personal hardware or software wallet, or another crypto exchange.
You can withdraw AUD directly to your bank account from either the CoinSpot app or website:
On the CoinSpot website:
On the CoinSpot app:
There are no fees when withdrawing AUD from CoinSpot, and there's also no minimum or maximum withdrawal limits.
When you submit an AUD withdrawal it is normally processed within one business day, but might not arrive in your bank account for a couple of days, depending on your bank.
You can withdraw crypto from CoinSpot to an external wallet by following these steps:
Once you've confirmed your withdrawal using the confirmation link, your crypto should be transferred soon afterwards.
However, depending on the network of the coin you're trying to send, you may need to wait a few minutes for the coins to arrive at the new wallet address.
You'll need to pay a transaction fee when withdrawing any crypto from CoinSpot. However, the size of the fee will depend on which coin you're looking to withdraw.
For example, it can cost up to 0.001 BTC to withdraw Bitcoin from CoinSpot, which may be higher than the fee charged by other crypto exchanges. For example, Kraken charges a 0.0004 BTC withdrawal fee, while Swyftx charges a 0.0001 BTC withdrawal fee.
It is possible to reduce the size of the withdrawal fee by using alternative networks, such as the Bitcoin Lightning Network. However, please make sure to confirm that the recipient address is compatible with that network before submitting the withdrawal.
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Where can I withdraw my crypto to?
You should be able to withdraw your crypto to any valid wallet address, including:
Please make sure that the wallet address you're sending your crypto to supports the coin and network you're trying to send. If not, you may lose your funds.
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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