Bitvavo payout – Withdraw your Bitvavo money in 6 steps!

Want to know how Bitvavo payout your money? Bitvavo has grown from a small startup in Amsterdam to one of the most popular and largest crypto trading platforms in the Netherlands. You can buy, sell, store and trade more than 175 different crypto currencies there. And Bitvavo has the big advantage of being one of the cheapest exchanges. All the more reason to choose Bitvavo as your favourite trading platform.

But how does it work when you want to withdraw money on Bitvavo? Below you can read how withdrawing money on Bitvavo works.

How to withdraw money at Bitvavo?

If you have made a nice profit and you want to withdraw some money, there are two different ways to do so at the Bitvavo exchange. One way to withdraw money from your Bitvavo account is by transferring it to an external wallet in the form of digital currency. The other way to withdraw from Bitvavo is by transferring an amount in Euros to a bank account.

Hoe kun je bij Bitvavo geld opnemen en versturen naar een externe wallet?

At Bitvavo, it is possible to withdraw money in the form of digital currency such as Bitcoins and send it to a crypto wallet outside the trading platform. Since 21 May 2020, there are slightly more restrictions to transfer digital money to an external wallet because of the introduction of the Fifth Anti Money Laundering Directive in the Netherlands. Since that date, Bitvavo is under the supervision of De Nederlandsche Bank and digital currency can only be sent to verified wallet addresses. This means that when you want to transfer digital currency to an external wallet, you first need to add the wallet address to your Address Book and have it verified.

Do you want to add a new wallet to your Address Book to cash out in digital currency at Bitvavo? Then please follow the steps below.

How to add a new wallet to your Bitvavo address book

Want to pay out in digital currency with Bitvavo? Before you can send digital currency to an external wallet, you need to add the wallet to your Address Book. Once you’ve added the address of this external wallet, you’ll never have to enter the address manually again, thus reducing the chance of errors. Moreover, this way you can keep track of which wallet addresses you have sent digital currency to.

Follow the steps below to add a new address.

1. Log in to your Bitvavo account, if you don’t have an account create here. 😉 Use in the app affiliate/partnercode: BB7125

2. Open the Address Book page found under the Dashboard tab. You will be taken to the Address Book page where you will be given the option to add a new address. Now click on Add Address.

3. The screen that opens now looks a bit like the Address Book of your online banking environment. You must first select a currency for which you want to create a new address. Then click on Continue.

4. On the next screen you can add the name of the wallet so you can easily find it in your Address Book. Below that, you have an input field to enter the address of your wallet. Click on Continue again.

You have now added the address to your Address Book and if you look in the Address Book you will see your new wallet address.

5. Now you must have the new address verified. To do this, look at the status of your new address on the Address Book page. It should say Verify.

7. When you have started recording, first choose which screen you want to record from and then open your new wallet. Then click Complete Recording.

Bitvavo’s compliance team will now verify if it is a bona fide address. Verification is best done from a desktop computer or laptop, if you are using a mobile wallet you should take a screenshot and show it during the recording.

8. Now you will see a window where you can have the address verified. Click on Continue to start the verification process.

9. For security reasons, after verification you must first confirm your e-mail address with two-factor authentication. An e-mail will be sent to you with a link to your e-mail address that you must confirm. Once you have clicked on the confirmation link your new address will be active.

Once these steps are complete, you can send your digital currency to an external wallet of your choice.

Bitvavo paying out in digital currency

Paying out in digital currency at Bitvavo is very easy now that you have verified your external wallet. Please note that at Bitvavo, withdrawing in digital currency is only possible via the desktop website.

Another thing you should know is that there is a fee for withdrawing digital currency and sending it to an external wallet on Bitvavo. These fees are used to pay the delvers who handle the transactions and maintain the blockchain network. What you have to pay per withdrawal differs per crypto currency.

Follow the steps below to withdraw and send digital currency to an external wallet at Bitvavo.

1. Log in to your Bitvavo account, if you don’t have an account create here. 😉 Use in the app affiliate/partnercode: BB7125

2. On your dashboard, go to your currency and click on the currency you want to send, for example Bitcoin.

3. Then the screen for this currency opens. At the top you can choose the Withdraw tab.

4. Now choose the address of the wallet you want to send the crypto currency to, and click on Continue.

5. Then you can choose how much of this currency you want to send. In the same window you will see the costs of the withdrawal and the total amount to be debited. Click Continue again.

6. To complete the transaction you must first confirm the withdrawal by email. Your digital money will now be credited to your other wallet. The time it takes to credit your cryptocoins depends on the cryptocurrency, but usually the transaction is completed within 2 hours.

Bitvavo withdrawing money in euros

You can also withdraw money in Euros from Bitvavo and have the amount transferred to a regular bank account. If you wish to withdraw money in Euros and have it transferred to your bank account, please follow the steps below:

1. Log in to your Bitvavo account

2. If you only have digital currencies you need to sell them first in order to withdraw money in euros. To do this, go to a currency you want to sell, for example Bitcoin, in your dashboard and click on it.

3. In the currency screen, you will see the Sell and Buy tabs on the left. Click the Sell tab.

4. Now enter the amount of digital currency you want to sell. You will immediately see what it is worth in euros and the costs involved. Once you have checked everything, click on Sell.

5. You can now choose to withdraw Euros from the dashboard. Click on Withdraw Euro.

Withdraw euro from bitvavo account

6. You will now see a window where you can indicate the amount you want to withdraw. You will see any transaction costs and to which bank account the money will be transferred. If you have checked everything, click Continue.

The amount will now be transferred to your bank account, it usually takes one working day before you can see it on your statement.

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