How to withdraw crypto from Bitstamp safely
You withdraw crypto from Bitstamp safely by enabling 2FA, whitelisting your address, and sending a small test amount first. Verify your account first.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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On Bitstamp your crypto sits in an account the exchange controls, so a withdrawal is a request rather than a direct transfer.
What to set up before withdrawing
Turn on two-factor authentication and whitelist the wallet address you plan to use. Whitelisting is a list of addresses you approve in advance. Finish identity verification, which US anti-money-laundering rules require, and check your withdrawal limits before you start.
How to withdraw crypto from Bitstamp
Open the withdrawal screen and pick the asset you want to send.
- 1Open the withdrawal pageLog in, choose Withdraw, and pick the asset.
- 2Paste the wallet addressCopy the address from the wallet you control instead of typing it.
- 3Match the networkPick the same network your wallet uses. A mismatch can lose the crypto.
- 4Enter a test amountType a small amount first and check the address and network.
- 5Approve by email and 2FAClick the email link, then enter your 2FA code.
- 6Confirm it arrivedCheck your balance and the transaction. Once it shows, recheck the address and network, then send the rest.
What to do after withdrawing
Copy the transaction ID from your Bitstamp history and save the date, asset, amount, and address with it. That record answers questions later at tax time or in a support case. Then check your active sessions and confirm 2FA is still on. Bitstamp support never asks for your password or your 2FA code.
Frequently asked questions
Bitstamp processes the request after you approve it, and then the blockchain confirms it. The time depends on the network and how busy it is.
The receiving wallet may not recognize the asset on that network, and the crypto can be lost for good. Check the network before you approve.
Moving crypto to a wallet you control is generally not a taxable sale, because you have not sold or traded it. A withdrawal fee paid in crypto is a disposal, though, and you generally owe tax on a gain when you later sell or trade the asset.
