Deposits and Withdrawals

22 days ago

Deposits and Withdrawals

Deposits and withdrawals with LiteBit are as easy as any other transaction that you can perform with cryptocurrencies. You can only send or receive crypto which are listed at LiteBit. Please make sure that you have selected the correct wallet for each coin or token that you would like to send or receive.

After connecting and verifying your bank account you will be able to withdraw and deposit Euros as well.

How to deposit crypto

In order to deposit crypto, please follow these steps:

  • Select “Wallet” from the main menu
  • Select the currency that you would like to deposit from the list
  • Click on “Deposit” in the row of your desired currency
  • If this is your first deposit, please generate a new address for your deposit
  • Copy the address into your wallet or service and proceed accordingly

Please note that some crypto also require a payment ID or somethings similar that you need in addition to the address. If this is the case, then the information is provided along with the deposit address.

You may reuse your address or choose to generate a new one. In that case your old address will stay valid, but it is not visible in the deposit menu any longer.

Make sure that there are no mistakes and that you entered the correct amount and the correct deposit address before you broadcast the transaction. The confirmation time for your deposit will vary with the speed of each crypto and the amount of fees that you have chosen in your wallet.

You can check in the “Wallet” menu for the status of all your pending transactions.

How to deposit cash

If you like to fund your LiteBit account with Euros, please follow these steps:

  • Select “Wallet” from the main menu
  • Click on “Buy” in the LiteBit Credits tab
  • Select the amount of LiteBit Credits and your payment method
  • Follow the checkout process

Please note that you are not depositing cash, but you are buying LiteBit Credits instead. 1 LiteBit credit is always worth 1 Euro. We have provided more information about LiteBit Credits in this article.

How to withdrawal crypto

In order to withdraw crypto, please follow these steps:

  • Select “Wallet” from the main menu
  • Select the currency that you would like to withdraw from the list
  • Click on “Withdraw” in the row of your desired currency
  • Enter the amount you desire to withdraw
  • Enter the address where you would like to receive your withdrawal
  • You will also need your 2FA token to start the transaction

Please double check on all the information before you finalize the transaction. We will deduct the transaction fees from your account. Fees are shown transparently in the withdrawal checkout before you broadcast the transaction to the network.

Please note that transaction speed will always depend on the chosen crypto and its current network capacity.

You can check in the “Wallet” menu for the status of all your pending transactions.

How to withdraw cash

In order to withdraw Euros from your account, please follow these steps:

  • Select “Wallet” from the main menu
  • Click on “Withdraw” in the LiteBit Credits tab
  • Enter the desired amount
  • Select one of your bank accounts from the drop-down menu

Please note that transfer might take a couple of business days depending on which day and time you started the transaction.

You can check on your ongoing and past deposits and withdrawals in your account. However, if you have any questions regarding a transaction, please contact our Customer Support. We are happy to help!

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