In this article, we're showing how to withdraw the cryptocurrency from ICONOMI to a crypto exchange. In our example, we're transferring Ethers (ETH) to Bitstamp (providing that you possess a Bitstamp account), however, you can also withdraw a different cryptocurrency from your ICONOMI account to Bitstamp or to another crypto exchange of your choice, while following the same principle. The procedure is quite simple but it requires carefulness with filling in the numbers!
For withdrawing funds from your account, ICONOMI will demand the two-factor authentication (2FA) code (see below, point 6). If you haven't already enabled the 2FA security feature on your ICONOMI account, you're required to do so now - please refer to the instructions here.
- In your ICONOMI account, choose the Portfolio menu. Under DIGITAL ASSETS, find Ethereum (ETH) and click Withdraw.
In the subsequent withdrawal form, you'll need to provide an address to transfer your Ethers to. You'll acquire this address from Bitstamp, as follows:
- Go to www.bitstamp.net and login to your account.
- In the upper menu, click Deposit, then click Ethereum (ETH) in the menu on the left, so that the ETHEREUM DEPOSIT form opens.
- Under Send Your ETH To This Address, you'll find your unique ETH address on Bitstamp, onto which you will transfer Ethers from ICONOMI. It is of utmost importance that this address is 100% accurate, therefore we recommend using it with the copy and paste method, rather than retyping it manually since even a single wrong letter would cause a (fatal) error in your transaction.
- Select your ETH address and copy it.
- Having copied your Bitstamp ETH deposit address, now return to your ICONOMI account with previously open Withdraw Ethereum (ETH) form. In our example, we're withdrawing 0.1 ETH:
- Under Your ETH balance, you can see the total ETH balance on your ICONOMI account.
- Under Amount to withdraw, enter the amount of Ethers (ETH) that you wish to withdraw from ICONOMI, i.e. deposit to Bitstamp.
WARNING: Note that ICONOMI uses a decimal dot number format standard (not a decimal comma as in some other standards)!
- An approximate Equity value in USD according to the current ETH exchange rate will be shown.
- Under Recipient Address, paste your ETH address which you previously copied from the ETHEREUM DEPOSIT form on Bitstamp. Again, it is crucial that this address is 100% accurate, so we recommend you to double-check whether all its characters have been rewritten or pasted correctly. Below the input field, ICONOMI will confirm if the Address is valid.
- Click Preview to review your withdrawal order before its execution (the actual sale will be completed only in the subsequent step).
- Double check your Withdraw Summary and confirm the order by clicking Submit. Should you wish to correct the amount to withdraw, you can return to the previous step by clicking Back.
- Fee: ICONOMI's transaction fee in ETH.
- Amount to send: the actual amount in ETH which you'll receive after withdrawing (the fee already deducted).
- Before the actual transaction, ICONOMI will require the Two-factor authentication code. Now fill in a fresh authentication code from your Google Authenticator (or your other preferred 2FA app). While the code is still valid, click Confirm.
- Should you wish to cancel the transaction, click the Click here link at the bottom of the form.
- As an additional security step, ICONOMI will send you an email through which you'll have to confirm that the withdrawal request has indeed come from you. Do not close your browser window, so that you remain logged in your ICONOMI account. You may have to wait for a few minutes to receive this email.
- Recipient's address: your ETH address at Bitstamp onto which the withdrawal is being made.
- Transaction identifier: identification number of your transaction.
- If you haven't received ICONOMI's email in, say 5 minutes, click Resend at the bottom of the form. WARNING: it may happen that after having clicked Resend you'll receive two confirmation emails - in this case, only the last one of the two will be valid (and all previous emails will become invalid).
- If you wish to cancel the transaction, follow the Click here link.
- In ICONOMI's email, click the CONFIRM TRANSACTION button as your final validation for withdrawing the funds from your account.
- Again, the Withdraw Ethereum (ETH) form will open, now with a Pending transaction status. You can keep checking the execution of your transaction by refreshing this browser window or in the Activity menu, which you can directly access by clicking Back to Activity at the bottom of the form.
- Transaction Confirmations shows the transaction progress in 12 steps or confirmations, as previously already explained by Bitstamp: "It may take up to 1 hour for the ETH network to confirm the transaction. Please note that 12 network confirmations are required."
- You can follow all your transactions in the Activity menu:
- In our case, check the IN PROGRESS section: the Withdraw position is still showing the Pending status for the withdrawal of 0.1 ETH.
- Under the section TODAY below, you can see the Sold position, showing the previously successfully completed sale of 10 Solidum Prime (SOPR) units (as described in our previous article).
- By clicking the Withdraw position in the Activity menu, you can instantly return to the Withdraw Ethereum (ETH) form to keep checking the updated transaction status and the progress of the 12 network confirmations. After all 12 confirmations have been carried out, the form will show the status Transaction Completed:
- Transaction: the link shows your transaction on blockchain - a sort of digital payment statement.
- Your new Ethereum balance: the new balance of ethers (ETH) on your ICONOMI account after the withdrawal, and its Equity value in USD.
- In the Activity menu, you can now see that the Withdraw position is now listed under TODAY where all today's successfully processed transactions are shown:
- After the funds have been successfully transfered from ICONOMI to your Bitstamp account, you will immediately receive Bitstamp's email notification: