When trading on BingX, you must know about the deposit, withdrawal, transfer, and more to keep your transactions fast and simple. As a new user, there are a few things to learn, but you will quickly get used to it.
With the user-friendly BingX interface, you will find that depositing money and later getting them off the platform again can be done very quickly. At the beginning of your BingX trading journey, you might be looking at deposits. But in the future, you might be in a situation where that money needs to be moved elsewhere.
Head to the “My Assets” page to find all the options. This is where you can find a complete overview of your assets and filter through your funds, futures, copy trading, and grid.
It’s also where you can find the deposit, withdraw, transfer, and convert options, which we will look at in this guide. Simply hover the wallet icon in the top-right corner and navigate to “My Assets.”
When you enter the My Assets page, you will instantly see the four blue boxes, which are the features we will look at. Let’s dive right into it.
The deposit option is the one it will automatically be on when you are under My Assets. This is also the one you commonly use, as this is where you can deposit your crypto to start trading on the platform.
First, you will see a pop-up for the user guide, which you need to read and/or agree to move on.
After confirming the Deposit and Withdrawal User Guide, you will see a “Currency” tab and a “Network” tab. These are the two you will need to fill out first.
Under Currency, you can choose between various coins, depending on what you want to deposit. Under that, select the network you are using. Note that you must choose the same network on the platform from which you send the currency.After you have filled out the two rows, you will get the deposit address. If you are depositing Ethereum (ETH), it’s important to note that you can only send ETH to that address to avoid losing your assets.
If you want to withdraw your money again from the BingX platform, tap the Withdraw button. First, a verification pop-up will show, which can help you verify your account for better security. You can bind a Google Authenticator (which is recommended) or set up phone number verification.
After you’ve done that, you are ready to withdraw some funds. Like the deposit section, you will see two rows that must be filled out. One for which currency you want to withdraw and one for the network.
After that, two new rows will show – one for the address and one for the withdrawal quantity. Type in the address to which you want to withdraw the funds, and ensure that it fits the currency you chose to withdraw.
You can place whatever amount you want to withdraw in the quantity section within the limits. The minimum withdrawal amount is 0.02, and the 24-hour maximum limit will show in the notes below.
In the example below, we try withdrawing ETH through the ERC20 network.
After filling in the address and the amount, simply press the blue “withdraw” button. Below, you will find an overview of your recent withdrawals.
If you want to transfer funds internally on BingX, the transfer feature makes it possible within a few clicks.
Press the “Transfer” button, and a transfer pop-up will show on your screen. In this, you choose which account to transfer from and send to. Then you select the currency you want to transfer and the amount. You can even press the “All” button for a faster expedition.
After that, you press confirm and will find your funds transferred from one BingX account to the other. It’s simple, fast, and doesn’t have any fees bound to it.
The last feature we want to cover in this guide is the last button on the My Assets page. This convert feature allows you to convert a cryptocurrency of your choice quickly and easily.
Let’s say you have 1 Bitcoin (BTC) that you would like to convert to USDT. You can do this easily with the convert feature. You just choose BTC in the “Spend” box and USDT in the “Receive” box. Type in the amount in “Spend” and see how much it converts into USDT.
If you hit the two arrows in the middle, you can reverse the trade, convert USDT to BTC, and much more.
You will find that you can convert a lot of different cryptocurrencies to USDT with this tool. If you are tired of having funds in some volatile coins, you can convert them to the USDT stablecoin and reduce your risk for a time.
For First Time users only, receive free USDT when you trade with us.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.