Due to the introduction of the fifth anti-money laundering directive which came into effect in the Netherlands on May 21, 2020, Bitvavo is now under the supervision of De Nederlandsche Bank. This directive states that digital currencies can only be sent to verified wallet addresses.
Before you can withdraw digital currencies to an external address, you first need to add it to your address book, and get it verified. Once those two steps are done, you may send your digital currency to your external wallet by following the steps outlined below.
Click on the buttons for app or website:
- Open your Bitvavo app.
- Tap on the digital currency you want to send.
- Tap the three dots in the right corner.
- Tap withdraw asset to transfer towards an external address.
- Tap a desired address to withdrawal to.
- Enter the desired amount of digital currency you want to send and click Preview transfer order.
- Check the transaction and confirm it by tapping confirm the withdrawal.
- Login to your Bitvavo account.
- Click on the digital currency you want to send.
- Go to 'Withdraw' and click on it.
- Select the address to which you want to send the digital currency and click continue.
- Confirm the network for the transfer and click continue.
- Enter the desired amount of digital currency you want to send and click preview withdrawal.
Why do I see the message (Temporarily) Blocked?
You may have a temporary block for withdrawals of digital currency. This is automatically placed for 24 hours for security reasons when you have performed one of the actions below:
- Password reset;
- 2FA reset;
- Phone number change;
- Email change.
You can check in your own logs whether you have performed these actions. Do you not recognise these actions? Then contact us directly at firstname.lastname@example.org.
- Check the transaction and confirm it by clicking confirm withdrawal.
- Confirm your order via email.
Your digital currency should arrive within two hours to the designated address. The timing depends mainly on how quickly your transaction is confirmed by the network, which differs for every digital currency and may change from time to time.
If your digital currency hasn't arrived within two hours, please consult our article on possible reasons for delayed digital currency transfers.
Sending digital currency via the blockchain network costs a fee paid to miners that is unrelated to Bitvavo and its operations. An indicative overview of the costs for transferring digital currency to a different wallet address can be found here.
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