How to Withdraw and make a Deposit in BitForex

Withdrawal method in BitForex

How to Withdraw from BitForex

If you already own some cryptocurrency assets in your BitForex account, you could withdraw them to your own crypto wallet or an external platform.

1. Go to [Assets] - [Withdraw], Select a cryptocurrency that you want to withdraw. such as BTC (Bitcoin), and select the chain name (Blockchain Network)

Note: If you are holding some Bitcoins in your Spot account or Perpetual account, you need to transfer it from the associate account to your Wallet account first if you would like to withdraw it.


2. Click [Add frequently used address] to add your withdrawal address and save it in your BitForex address book.

1. Choose the Chain name (Blockchain Network).
2. Name your withdrawal address.
3. Fill in your withdrawal address. (Please re-check the address and make sure your withdrawal address is 100% correct, or you will lose your funds forever if you withdraw your coins to the wrong address.)
4. Click [Send] and fill in the 6-digit verification code to complete the Email verification.
5. Click [Confirm] to complete the GA/SMS authentication.

3. After the safety authentications, you’ve successfully added your withdrawal address to the address book and you can find it by clicking this area.

Note: To withdraw some cryptocurrencies such as XRP/XLM coin, the MEMO(TAG) is required to fill in for withdrawal.

For example,

1. you need to fill the MEMO when sending XRP coin to another BitForex account or to another exchange.
2. If you need to withdraw your XRP to your own crypto wallet(You are holding the seed phase), you can fill whatever you like in the MEMO(TAG).
3. Make sure to re-check if a MEMO is required or not. If a MEMO is required and you fail to provide it or provide the wrong MEMO, you may lose your funds. (some platforms and wallets refer to the MEMO as Tag or Payment ID.)

4. Enter the withdrawal amount and you will be able to see the corresponding transaction fee and the final amount you receive. Click [Submit] to proceed. 

5. Complete the GA/SMS authentication for your withdrawal.

You will be able to view the status of this withdrawal after the safety verification is completed.

Frequently Asked Questions (FAQ)

How often will we handle the transactions?

Our staff members provide service for you 24-hour around. Usually, we will deal with your withdrawal request in two hours. Please wait patiently.

How long will it take for the assets to be credited?

After you submit the withdrawal request, we will review it as soon as possible. Usually, we will transfer your assets in 2 hours. But the specific arrival time will also be affected by the rules of the platform you are transferring to. Also, if the blockchain network is having congestion, the time of withdrawal will be prolonged. 

What if I withdraw my assets to the wrong address?

Once you click "Confirm" on the withdraw request page, BitForex has entered the process of withdrawing your digital asset. Since it’s fully automated, no one can stop the process. Due to the anonymity of blockchain addresses, we are unable to get back your coins. We strongly suggest you check the withdrawal address to ensure its accuracy and avoid the loss of personal assets.

What if the digital assets do not show up in my wallet after withdrawal?

Blockchain asset transfer has 3 major steps: BitForex withdraw request – Block Confirmation – your settlement platform confirmation. After you submit the request, BitForex will generate TXID within 30-60 minutes. Then you can check the blockchain network using TXID. If the blockchain shows that the transaction is confirmed but you still have not received the digital asset, please contact the settlement platform. If TXID has not been generated in 60 minutes, please contact BitForex online service to help you.

Deposit method in BitForex

Deposit Crypto in BitForex

If you already have some cryptocurrency assets, you could deposit them into your BitForex account and trade with them.

1. Cryptocurrencies can be deposited via “deposit address”. Go to [Assets] - [Deposit] - [Select a crypto currency] to view the deposit address of your BitForex Account, then copy and paste the address to the platform or wallet you are withdrawing from to transfer them to your BitForex account.


Note: If you are using a mobile device, you could find the [Deposit] button after login in.

2. Select the cryptocurrency that you want to deposit, such as Bitcoin (BTC) and choose the deposit chain name (Blockchain Network).

Please make sure that the selected chain name is the same as the network of the platform you are withdrawing funds from. If you select the wrong chain name to deposit, you may lose your funds.

Summary of network selection:

• BTC refers to the Bitcoin network.
• TRC20 refers to the TRON network.
• HECO refers to the Huobi Heco Chain network.
• BSC refers to the Binance Smart Chain network.
• POLYGON refers to the Matic(polygon) network.

For example, If you are holding some BTC in your TRON wallet, you should select the BTC-TRC20 deposit address to deposit your Bitcoin to your BitForex account.

1. The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
2. If the external platform only supports ERC20, you must select the ERC20 deposit network.
3. DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
4. For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you may lose your funds.

3. Click [Copy] and paste it to the address field on the platform you intend to withdraw crypto from.

Frequently Asked Questions (FAQ)

Deposit Fees

There is NO fee required for depositing to BitForex.

Deposited the wrong coins

If you sent the wrong coins to your BitForex coin address（e.g., deposit BTC to BCH address on BitForex）:

1. Generally, BitForex does not provide a retrieval service for incorrectly deposited tokens due to operation errors by users.
2. If the user has suffered a significant loss as a result of incorrectly deposited tokens, BitForex may, solely at our discretion, assist you in resuming your tokens. This process is extremely complicated and may result in significant cost, time, and risk. If you wish to request BitForex to recover your coins, please provide your BitForex account email, coin name, address, amount, txid(very important!)， detailed description, and transaction screenshot to the online customer service or submit a request. BitForex team will reply in time and determine whether you meet the recovery criteria. If it was possible to recover your coins, we may need our technical team for recovery solutions. It may cost at least 1 month to retrieve the wrong coins. Your patience will be greatly appreciated.

When depositing digital currency to BitForex, the platform prompts that the transfer is successful, but the assets have not been credited after a long time?

Blockchain asset transfer has 3 major steps: transfer out – blockchain network confirmation – credit into your account. If the blockchain shows that the asset transfer is confirmed but you have not received assets on your BitForex account, please contact our online customer service. We will deal with the problem as soon as possible.

Deposit to a non-BitForex address

If you sent your coins to a non-BitForex address, BitForex is unable to help you recover the coins due to the anonymity of blockchain transactions.