Do you want to explore the process of withdrawing crypto from Bitfinex to Trust Wallet? If yes, then go through this guide and know the essential process of how to Withdraw Crypto from Bitfinex to Trust Wallet.
Step-by-Step Guide To Withdraw Crypto From Bitfinex to Trust Wallet:
In general, Trust Wallet is the self-custody multi-chain crypto wallet that can be effectively use by wide range of people across the globe. It supports around 70 Blockchains and 8 million assets and let you explore wide range of Web3 decentralized applications (dApps) very safe.
When you are using the official Bitfinex app or website, then sure this guide can work effectively for you. If you don’t have any Trust Wallet app installed on your PC or mobile, then you can download the latest version from this site trustwallet.com/download 68.
In order to withdraw the crypto from Bitfinex to Trust Wallet, you need to follow the below mentioned steps. Those steps are:
Step 1: Get The Trust Wallet Crypto Deposit Address
- At first, you need to open the Trust Wallet Browser Extension or Trust Wallet mobile app
- Then you are require to choose the ‘Receive’ option from the main page
NOTE: The browser extension of the Trust Wallet supports the great asset transfers on the wide range of networks such as Solana, Ethereum, Avalanche, Polygon, Binance Smart Chain, & all EVM chains. Now you can make use of the Trust Wallet mobile app to transfer the assets on any kind of network. It is mainly since the mobile app has the complete network support.
- Now you have to choose the right crypto asset that you want to deposit. You can use or scroll the search function to find the complete asset also.
- Then you are require to copy the deposit address. You must need this address to use on Bitfinex.
Step 2: Withdraw Crypto From Bitfinex To Trust Wallet
It is the most interesting step. Here you need to paste the Trust Wallet deposit address into the most appropriate area in Bitfinex.
- At first, you need to open the Bitfinex app or website and navigate to the withdrawal option.
- Then you must choose the “Withdrawal” option.
- After that, it is must for you to choose the required amount that you want to withdraw.
- Next, you need to enter the right deposit address that you have copied from the Trust Wallet into certain area for Bitfinex withdrawal address
But when you have added the deposit address previously, then it is must for you to skip to the next step to complete the withdrawal.
When you choose the option to add the new withdrawal address, then you have to follow the proper instructions to add the own unique description. After that, you need to paste it in the trust wallet deposit address when you have asked.
You must ensure the paste the deposit address correctly to stay away from major errors. After that, you must have to follow the instructions to confirm the deposit address very effectively.
- Now you must need to follow the instructions and then complete the withdrawal process on Bitfinex. Here you have to enter the amount that you need to send to the Trust Wallet, review those details and then click the confirm option.
Finally, the process gets complete.
Now you have sent the crypto to the own wallet. It means that now you have to complete control and access over the crypto effectively.
You can open the Trust Wallet to confirm the arrived funds from here. Based on the assets, the transfer time will range from certain seconds to minutes.
NOTE: Here you must ensure to thoroughly check the blockchain network that you are using for making withdrawal from Bitfinex to the Trust Wallet. For instance, Bitfinex never support any Binance Smart Chain or Binance Beacon Chain networks. Hence it is highly recommend for you to thoroughly check all the details during every transfer.
What Is The Need To Move Crypto From Bitfinex To Trust Wallet?
In general, Trust Wallet is the self-custodial wallet in which you have the complete control and access over the crypto held in the wallet.
The major difference between the self-custodial wallet such as Trust Wallet & the centralized exchange is that while keeping the crypto on the exchange, you must trust the exchange to securely store the crypto for you. Here the exchange can ultimately control the crypto.
Here the major problem is that the crypto held on the exchange will never be insure typically. Then you need to completely trust the exchange to take care of the funds. But it is not at all happening properly and it may lead to permanent fund losses.
Due to that, it is important that when you have made transaction through exchange, you can hold the crypto asset in the non-custodial wallet such as Trust Wallet. Here you will have the only control over wallet’s private keys and your funds. Trust Wallet will never access the funds nor could we collect the user data that can identify users.
Impact of Trust Wallet
Generally, Trust Wallet mobile is the true and easy to use multi-chain self-custody wallet that let you to manage and store around 8 million crypto assets along with NFTs across 70 blockchains. Now onwards you don’t need to store assets over multiple exchanges or custody wallets. With Trust Wallet, you can get peace of mind of all assets are store in a safe place. The private keys can be store on the device and you can take the complete control. Currently, 60 million people across the globe are using Trust Wallet. After a great demand and requests, Trust Wallet announced the Browser Extension launch recently to complement the mobile wallet.