Withdraw FAQ

How long does it take for my funds to arrive?

Withdraws can take a few minutes to a few hours, depending on the asset and network traffic. After confirming your request on Coinlocally, it takes time for the transaction to be confirmed on the blockchain. Then you will receive your assets.

Why Hasn’t My Withdrawal Arrived?

1. Withdraw unsupported coins/tokens to the recipient platform.
2. Withdraw through the unsupported network on the recipient platform.
3. Withdraw Label Coin without or with wrong Memo/Tag.
4. Less than the minimum deposit amount required by the recipient platform.
5. Your asset is withdrawn to incorrect address.
6. The withdrawal remains pending.
7. The withdrawal is not confirmed yet.
8. Temporary wallet maintenance.

To ensure the security of your assets, withdrawals over a certain amount may be manually processed, which can take a bit longer. Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TxID (Transaction ID) to look up the status of the transfer of your assets by using a blockchain explorer.

• Please double-check the destination address and withdrawal network, make sure it is the same as your recipient platform.
• However, it might still take some time for that particular transaction to be confirmed and even longer for the funds to be credited into the destination wallet. The amount of required “network confirmations” varies for different blockchains.

Note: Please note that the withdraw page will only show networks that Coinlocally supports. If you withdraw from an unsupported network, your assets might be lost and cannot be recovered.

How to check my Withdraw history?

You can check your withdraws status from withdraw page. In the end of withdraw page, you can observe your recent withdrawals. If you’re using the App, go to wallet then you can tap on history button in the top of right corner to see your transactions history.

What are the fees for crypto withdraws?

Coinlocally charges a small fee that depends on the coin and the selected blockchain network. This fee is not paid to Coinlocally but miners or validators, who are responsible for processing the transactions and securing the respective blockchain network. Coinlocally must pay these fees to miners to ensure that transactions are processed.

What is the meaning of each withdrawal status?

What is a Memo/Tag and what if I forgot the Memo, Tag, or Message when making the withdrawal?

A Memo, destination tag, or message is used to identify a transaction in order to credit an account. Both an address and a tag/memo are required to receive cryptocurrency. If you send funds without a tag/memo or with an incorrect tag/memo, your funds cannot be credited to your account. However, please be aware that it is the traders' sole responsibility to check with their destination wallet address provider on the need to indicate a tag/memo when transferring out of Coinlocally.

Note: Coinlocally will not be responsible for any missing coins due to withdrawal without indicating any tag/memo.

What should I do if I withdraw to the wrong address?

If you have withdrawn assets to the wrong address, we strongly suggest you contact the recipient platform of the wrong address for further assistance. Once withdrawn, only the receiver can return the coin to you If you do not know whose address is, the assets will not be recovered. Coinlocally may not be able to recover the assets for such a mistake.

Can I cancel the pending withdraw?

Usually, if the TXID is already available on blockchain explorers, you will not be able to cancel the withdraw.

What if I make a withdrawal during wallet maintenance?

Your withdrawal can’t be sent during wallet maintenance but will be sent automatically after the maintenance is completed.

How to Make Internal Transfer on Coinlocally?

The internal transfer function lets you send funds between two Coinlocally accounts. It will be immediately credited, and you don’t have to pay any transaction fees.

Is there any minimum or maximum limit for withdrawal?

Coinlocally sets a minimum limit for cryptocurrency withdrawal. The minimum withdrawal limit for each coin/token will be adjusted automatically based on market value. Trader can see the minimum withdrawal amount and withdrawal fees stated on the withdrawal window. Coinlocally sets 24 Hour withdrawal limit based on the account level.

• Transfer up (Withdraw) to 100,000 USDT per day = Without KYC
• Transfer up (Withdraw) to 500,000 USDT per day = Verified KYC

Why is my account restricted from performing a withdrawal?

For account and asset security purposes, please be informed that the following actions will lead to withdrawal temporary restrictions for 24 hours:

1. Change or reset of account password
2. Change of registered mobile number
3. Change of email address
4. Manually disable Google Authenticator
5. Change of account’s Anti-phishing

What Can I Do When Withdrawal's Address/Network Is Suspended?

• When the Wallet is under maintenance, withdrawals will be temporarily suspended.
• Due to network upgrades or other reasons, withdrawals of an asset might be temporarily suspended.

Why I received “Invalid Code” error message during making a withdrawal?

• The Google 2FA code is only valid for 30 seconds, please be sure to enter it in valid time.
• Please make sure that you import last 16-digits code for correct account.
• Please make sure the time of the Google Authenticator App on your mobile phone is synchronized with the time of the Google server.

If none of the suggestions above can solve your problem, you must reset your Google Authentication.

I have funds in my account; why I received “Insufficient Balance” error message during making withdrawal?

First of all, ensure that your funds are in your Spot wallet when you making a withdrawal.