Note: For security and regulatory compliance, crypto withdrawals are available 7 days after your account is created (Tier 2). However, you can still sell your crypto and withdraw AUD to your bank account at any time during Tier 1.
Step-by-Step Instructions
Start Your Withdrawal:
Desktop: Click the Withdraw button on your dashboard, select Crypto, and hit Next.
Mobile App/Website: Tap your Profile Icon and select Withdraw Crypto.
Select Your Coin: Search for the cryptocurrency you want to send.
Choose the Destination: You will be prompted to either select a Saved Wallet Address or enter a New Wallet Address.
Enter Network & Address:
Select the correct Blockchain Network.
Paste the destination address.
Optional: Toggle "Save this wallet address" to skip this step next time.
Set the Amount: Enter how much you’d like to send or click Send Max.
Final Review: Click Next, review the transaction details and network fees, then click Confirm Withdrawal.
⚠️ Critical Security Check: VPNs
Coinstash does not allow the use of VPNs during the withdrawal process. If our system detects a VPN, the "Confirm Withdrawal" button will be greyed out. Please disable your VPN before initiating a transfer.
Important Safety Tips
Network Matching: Always ensure the network you select on Coinstash matches the network of the receiving wallet (e.g., sending BTC over the Bitcoin network, not Ethereum). Using the wrong network will result in the permanent loss of your crypto.
Copy/Paste Only: Never type out a wallet address. We strongly recommend copying and pasting the address or using a QR code to avoid typos.
Irreversible Transactions: Once a withdrawal is confirmed on the blockchain, Coinstash cannot reverse or cancel it. This is due to the decentralized nature of blockchain technology, which makes transactions immutable. Please double-check every detail before hitting confirm to avoid any errors.
Withdrawal Compliance: A withdrawal request may be rejected by the compliance team if it triggers fraud alerts, regulatory restrictions, or security concerns. In such cases, funds are returned to your Coinstash account balance.
Prevent Issues: To minimize risks, always verify wallet addresses carefully, keep an eye on account activity for irregularities, and ensure compliance with regional regulatory requirements.- High-Risk Platforms: BTC withdrawals may be blocked if the destination is identified as a high-risk platform, such as non-KYC exchanges, gambling platforms, or certain merchant services. In such cases, funds are returned to your Coinstash account balance to ensure compliance and user protection.
Need assistance? If you're unsure which network to use or if your "Confirm" button is greyed out, our Brisbane-based support team is here to help via live chat!
Understanding BTC Withdrawal Delays or Blocks on Coinstash
Bitcoin (BTC) withdrawals on Coinstash may occasionally face delays or blocks due to various reasons. Below are detailed explanations of these issues and how to address them.
Overview of the BTC Withdrawal Process
When you initiate a BTC withdrawal on Coinstash, the process involves two key stages:
Approval by Coinstash: Coinstash reviews and approves the withdrawal request.
Network Confirmation: The Bitcoin network processes the transaction, which involves broadcasting it to the network, entering the mempool (a queue), and receiving confirmations from miners.
Monitoring and Troubleshooting Withdrawals
To monitor the progress of your BTC withdrawal, Coinstash provides a blockchain tracker link for each transaction. This allows you to:
Check the transaction's status in the mempool.
Track the number of confirmations it has received. If your withdrawal request is rejected, it may be due to compliance-related issues or network delays. You can take the following steps to resolve the issue:
Review Email Notifications: Check for any emails or notifications from Coinstash explaining the reason for rejection.
Verify Your Details: Ensure that the wallet address and other withdrawal details are accurate.
Check High-Risk Platform Status: Confirm whether the destination wallet is associated with a high-risk platform, such as non-KYC exchanges or gambling services.
Contact Support: Reach out to the Coinstash support team for further assistance and clarification.