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[Guide] Guidance on the process of exchanging KRW after withdrawing digital assets
[Guide] Guidance on the process of exchanging KRW after withdrawing digital assets

example using Binance and Upbit

Updated over a week ago


Hello,
This is the Digital Asset Investment Platform HEYBIT.

For Korean exchanges,

after the implementation of the Travel Rule on March 25, 2022, based on the policies of each exchange, it is not possible to directly withdraw digital assets worth more than 1 million KRW from Heybit Global to Korean exchanges.

If you wish to withdraw from Heybit Global and ultimately exchange for KRW through a Korean exchange, you will need accounts with both a Korean exchange that supports deposits and withdrawals and an overseas exchange with which Korean exchanges can transact.

Assuming both exchange accounts are the same and that the date of birth has been verified, we provide guidance on withdrawing using Binance and Upbit, which are the most commonly used exchanges by our customers.

[Important Points]

  • When selecting the method of digital asset transfer (network), be sure to confirm the supported transfer method (network) by each exchange.

  • When the withdrawal is in the final waiting state according to the Travel Rule policy of each exchange, you must submit additional documentation for retrieval, and Heybit Global is not responsible for this.

  • Heybit Global is not responsible for losses due to price fluctuations during the transfer of digital assets or issues arising from incorrect address/network information.

  • Please be mindful of withdrawal fees when withdrawing digital assets.

  • There may be delays in withdrawal times depending on network conditions.


We will guide you through a total of 4 steps!

Step 1. Confirm if digital assets have been deposited from Heybit Global to overseas exchanges (virtual asset service providers allowed by Upbit).

Step 2. Trade digital assets on overseas exchanges (virtual asset service providers allowed by Upbit) to acquire the desired remittance asset.

Step 3. Transfer the remittance asset to your wallet address within Korean exchanges where KRW withdrawal is possible, such as Upbit.

Step 4. Sell the remittance asset for KRW within Korean exchanges where KRW withdrawal is possible and proceed with KRW withdrawal.

Please refer to the video for more details.

Thank you.


For further assistance or inquiries, 💡 Contact Our Support Team >

ⓒ Uprise Global, Inc.

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