How to deposit and withdraw on Bitfxt Exchange

Scarletmedia.dao
3 min readJul 21, 2020

DEPOSIT

To deposit on Bitfxt Exchange is pretty simple but first things first. Sign up if you haven’t. Click here to read this step by step guide on how to create an account and complete KYC. Next, follow the steps below to deposit crypto or fiat on Bitfxt Exchange.

Step one

Select Deposit

Step two

Select the currency you want to deposit.

To deposit Crypto

For this tutorial, we will use bitcoin as an example. So, select Bitcoin from the dropdown menu and copy your wallet address.

Step three

Paste the address to your Blockchain, Binance or other wallet you store bitcoin and Send.

Step four

Check your Bitfxt wallet to see if it has reflected. Note that it takes a few hours for transfers outside Bitfxt to reflect. This is not a fault from Bitfxt but the usual Blockchain delay.

To deposit Naira

Repeat Steps one and two above.

Step three

Select Naira

Step four

There are two means of payment. Online Payment (Flutterwave) and Bank Transfer.

Through Online Payment:

  • Select online payment
  • Select flutterwave
  • Input the payment amount and;
  • Click on Proceed

Through Bank transfer:

Note: You will be charged 100 naira for your deposit irrespective of the amount you are depositing

  • Select Bank Transfer
  • Type in the amount you want to transfer + 100 naira, e.g, 10100 (10,000)
  • Copy the bank details correctly and make payment
  • Upload a screenshot of the payment by selecting “Choose File”.
  • Add Transaction ID (Optional. If applicable to your country)
  • Click on Proceed to deposit Naira
  • Check your email for a deposit confirmation message and in less than 5 minutes, your deposit will reflect.

Another amazing feature available on Bitfxt Exchange is called Quick Buy and Sell. This feature enables you to quickly exchange currencies at a slightly higher rate than normal trade. For a list of fees, visit bitfxt.com/fees.

Quick Buy and Sell mode

After creating and logging in to your Bitfxt account, navigate to the MENU panel at the top right corner of your screen (for mobile devices).

  • Select Quick Buy/Sell
  • Scroll down to the form and fill in your Sell (coin you want to sell), Receive (coin you want to receive), Amount to sell (Quantity) and Purpose.
  • Click on Swap

Instantly, your coins will be sent to your wallet.

WITHDRAW

Withdrawing your funds is not difficult either. Once your withdrawal request has been processed, your funds will be safely on their way to your wallet or bank account. To begin withdrawing on Bitfxt Exchange, follow the steps below.

  • Go to My Profile
  • Click on Bank Settings
  • Fill in the required bank details
  • Submit and exit.

Now that your account details are set up, proceed to withdraw using the following steps.

Step one

Go to your Wallet

Step two

Click on Withdraw

Step three

Select the account to withdraw to.

For the sake of this tutorial, we will be focusing on withdrawing Naira to your bank account. So, select Nigerian Naira from the list.

Step four

Enter the Amount

Step five

Enter your 2FA code and click on Withdraw

Note: All bank withdrawal charges are 200 naira

Finally, check your email for a withdrawal confirmation message. Once you approve it, your withdrawal request will be confirmed.

That’s all for deposit and withdrawal on Bitfxt. Quite simple right?

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Scarletmedia.dao

Scarlet is a web 3 writer with expert knowledge in Blockchain and DeFi