Managing digital assets securely begins with understanding how cryptocurrency wallets work. Whether you're sending, receiving, or withdrawing funds, knowing the right steps ensures smooth and secure transactions. This guide walks you through everything you need to know about handling Bitcoin and other cryptocurrencies, including wallet addresses, transfer limits, and cash withdrawals—all while maintaining control over your financial activity.
How to Find Your Wallet Address
To access your wallet address on a cryptocurrency platform, log in to your account and navigate to the Financial Center. From there, select the "Deposit" option under the cryptocurrency section. You'll then see your unique wallet address for each supported digital asset.
Currently, platforms typically support major cryptocurrencies such as:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
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Each cryptocurrency has a distinct wallet address. For example, your Bitcoin address cannot receive Ethereum, and vice versa. Always double-check the network and address format before initiating any transaction to avoid irreversible losses.
Wallet addresses are long strings of alphanumeric characters, but most platforms also provide a QR code version for easier sharing. This makes mobile transfers faster and reduces the risk of manual input errors.
Receiving Cryptocurrency: Step-by-Step Guide
Receiving digital currency is simple once you understand the process:
- Log in to your account.
- Go to Financial Center > Deposit.
- Select the cryptocurrency you wish to receive.
- Copy the provided wallet address or share the QR code.
Send this information to the person or service transferring funds to you. They can paste the address into their wallet app or scan the QR code directly.
Always confirm that:
- The sender uses the correct blockchain network (e.g., BTC for Bitcoin, ETH for Ethereum).
- No funds are sent via unsupported networks (like sending ERC-20 tokens to a standard ETH address without smart contract support).
Mistakes in network selection can result in permanent loss of funds—so caution is essential.
Sending Cryptocurrency Safely
To transfer crypto out of your account:
- Navigate to Financial Center > Withdraw.
- Choose the cryptocurrency you want to send.
- Enter the recipient’s wallet address and the amount.
- Confirm transaction details and submit.
Ensure accuracy when entering the recipient's address. Unlike traditional banking systems, blockchain transactions are irreversible. Even a single incorrect character may lead to lost funds with no recovery option.
Most platforms enforce minimum withdrawal amounts to cover network fees and prevent spam transactions.
Minimum Bitcoin Withdrawal Amount
The minimum amount required to withdraw Bitcoin is typically 0.01 BTC. This threshold helps ensure that transactions remain viable on the Bitcoin network, where lower amounts might be rejected due to high miner fees or deemed uneconomical.
Always check current network conditions and fee estimates before initiating a transfer, especially during periods of high congestion.
Smart Contract Support for Ethereum
One of the key features of Ethereum is its ability to support smart contracts—self-executing agreements coded directly onto the blockchain.
Platforms like BITPoint Taiwan began supporting ETH smart contracts starting June 30, 2018, enabling users to interact with decentralized applications (dApps), participate in token sales, or transfer ERC-20 tokens.
This functionality expands what users can do beyond simple payments, opening doors to DeFi (decentralized finance), NFTs, and more complex blockchain interactions.
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However, always verify that:
- The token standard (e.g., ERC-20, ERC-721) is supported by your wallet.
- You're using the correct contract address when sending or interacting with tokens.
Withdrawing Cash: From Crypto to Bank Account
Converting your digital assets into fiat currency (like New Taiwan Dollar) involves a few straightforward steps:
- Log in to your account.
- Go to Financial Center > Withdraw (Fiat).
- Enter your bank details and withdrawal amount.
- Submit the request for processing.
Important Requirements for Cash Withdrawals
- The name on the bank account must match the account holder's name registered on the platform.
- You must have completed bank account verification and binding. Unverified accounts will have withdrawal requests rejected.
Failure to meet these criteria results in delayed or canceled transactions, so ensure all personal and banking information is up to date.
Processing Time and Limits for Fiat Withdrawals
Understanding timing and limits helps manage expectations and plan finances effectively.
Standard Withdrawal Timeline
- If you submit your request before 15:00 local time, funds are processed within three business days (T+3).
- Requests submitted after 15:00 take four business days (T+4) to arrive in your bank account.
This schedule aligns with financial settlement times, particularly those of international parent companies operating in different time zones (e.g., Japan Standard Time at 16:00 = Taiwan Time at 15:00).
Daily and Monthly Withdrawal Limits
- Daily limit: Up to NT$250,000
- Monthly limit: Up to NT$5,000,000
These limits are cumulative and based on the date funds are credited to your bank account, not when the request was made.
Such restrictions help comply with anti-money laundering (AML) regulations and protect user accounts from unauthorized activity.
Frequently Asked Questions (FAQ)
Q: Can I use the same wallet address for different cryptocurrencies?
No. Each cryptocurrency operates on its own blockchain and requires a unique address. Using the wrong address may result in permanent loss of funds.
Q: What happens if I send crypto after 15:00?
For fiat withdrawals, submissions after 15:00 are processed one day later, extending the arrival time by an additional business day.
Q: Why was my withdrawal request rejected?
Common reasons include mismatched account names, unverified bank accounts, or exceeding withdrawal limits. Always verify your details before submitting.
Q: Are smart contracts safe to use?
Smart contracts are secure when properly coded and used on trusted platforms. However, never interact with unknown contracts—malicious code can drain funds instantly.
Q: Can I withdraw less than 0.01 BTC?
Most platforms do not allow Bitcoin withdrawals below 0.01 BTC due to network efficiency and fee considerations.
👉 Start managing your crypto withdrawals with confidence today.
Q: How do I know if my platform supports ERC-20 tokens?
Check the deposit section for Ethereum—reputable platforms clearly indicate whether they accept ERC-20 tokens and provide proper contract integration.
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