Withdraw Virtual Assets and Stablecoin From MidChains

Owned by Yousef Al Alami (Unlicensed)
Last updated: Dec 26, 2022 by Egya (Unlicensed)
3 min read

MidChains provides you with the option to add destination wallet addresses that you wish to withdraw your Accepted Virtual Assets or Stablecoin into. Destination Wallets must be added to your list of Wallets before a withdrawal can be initiated. External wallets that you may have deposited Accepted Virtual Assets or Stablecoin from into your MidChains wallets may automatically be captured in the list of added destination wallets addresses. Follow steps on how to Add Wallets here.

The steps below may guide you on how to withdraw Virtual Assets or Stablecoin:

  • Navigate to the MidChains trading portal at https://trade.midchains.com and select Portfolio on the left-hand side of the dashboard.

  • Click the Withdraw tab for the Virtual Asset or Stablecoin you wish to initiate a withdrawal from, under the WALLETS tab.

 

 

 

  • Enter the units of the Virtual Asset or Stablecoin you wish to withdraw from in the amount field.

  • Click on the Destination Wallet Address field beneath the amount field to select the preferred wallet you wish to withdraw into.

  • Select your preferred external wallet address from the drop-down list in the Destination Wallet Address field and click Submit. The external wallet address will only display wallets that you have added. Please ensure to add your external wallets before initiating the withdrawal process.

 

 

 

  • Ensure to click the Confirmation check box in the pop-up screen to confirm your withdrawal.

 

 

  • A Withdrawal Confirmation email will be sent to your registered email address with a withdrawal code to be submitted before the withdrawal.

  • Enter the code into the Withdrawal Code field beneath the Destination Wallet Address field and submit. In case you did not receive the code, click the Resend Code button to resend the Withdrawal Confirmation email.

 

 

  • Again, click the Confirmation check box in the pop-up screen to confirm your withdrawal and submit.

 

 

  • The amount you wish to withdraw will be deducted from your Available Balance and will reflect in the Withheld Balance until the transaction is completed after all confirmations have been successfully received.

  • Once confirmation is received, your Balance for that Virtual Asset or Stablecoin will reduce by the amount withdrawn.

 

 

  • Select the History tab to displays further details of all transactions that have occurred for the selected Virtual Asset or Stablecoin.

 

 

Note: Not all wallet addresses will be accepted as certain activities or services relating to some wallet addresses are prohibited on MidChains' trading platform. The process of validating wallet addresses to be added to your list of wallets depends on several factors and the duration for this to occur may vary.

Network Fees are applicable to all Virtual Asset or Stablecoin withdrawals. Withdrawals into your external wallets will incur Network Fees before arriving in your external wallet. MidChains does not charge fees for withdrawing Virtual Assets or Stablecoin from your MidChains wallet.

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