How to withdraw crypto from Upbit safely
Sending crypto from Upbit to a wallet you control takes a matching address, the right network, a memo when required, and a 2FA approval before you submit.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
On this page
Upbit mainly serves Korean residents, so US access can be restricted. Check that your account is allowed to withdraw before you start.
What to prepare before withdrawing
The withdrawal page sends crypto out of Upbit to a wallet you control. Before you open it, confirm that Upbit permits your account and that you have finished identity verification.
How to withdraw crypto step by step
Match the destination wallet address and blockchain network to the crypto asset. Enter the memo or tag if the receiving service requires one. Upbit asks you to authorize before it broadcasts.
- 1Pick the assetSelect the cryptocurrency on its withdrawal page. Check which network Upbit uses for it.
- 2Copy the addressOpen your wallet, copy its receive address, and compare the first and last characters.
- 3Match the networkChoose the same network on Upbit that the wallet uses. A mismatch can make coins hard to recover.
- 4Enter the memo or tagType it exactly as shown. The receiving service needs it to match the deposit to your account.
- 5Check every detailCompare asset, address, network, amount, and memo before you continue.
- 6Authorize with 2FAEnter the two-factor code. Complete the email or SMS confirmation if Upbit asks.
- 7Submit the withdrawalPress the final submit button. A broadcast transaction usually cannot be canceled.
What to do after your withdrawal
Open your Upbit withdrawal history and copy the transaction ID. Keep it with the date, asset, amount, and address. The IRS treats crypto as property, so moving between your own wallets is not taxable, but trading one crypto for another or paying with crypto is.
Frequently asked questions
Upbit may still be reviewing it, or the network may not have confirmed it. Check the transaction ID on a block explorer.
Usually not. Upbit can sometimes stop a pending request, but a broadcast transaction cannot be reversed.
The receiving service needs the memo or tag to match the deposit to your account. Contact its support and give them the transaction ID.
Upbit is not a US exchange, so it generally does not send US tax forms. You still report taxable crypto activity on your US tax return.
