How to Deposit and Withdraw Cryptocurrency on Coinhako

How to Deposit and Withdraw Cryptocurrency on Coinhako

This article outlines the step-by-step process of how to deposit and withdraw cryptocurrency on Coinhako. The process is consistent across all supported cryptocurrencies, making it easy for users to manage digital assets securely and efficiently.

Receiving Cryptocurrency

Before you start

Each cryptocurrency can run on several networks, and each network has its own deposit address. You and the sender must be on the same one.
  1. Pick the same network the sender is using. If they're sending USDT on Tron, select Tron. If they're sending on Solana, select Solana. Not sure? Ask them to check the network on their withdrawal screen first.
  2. Addresses can look identical across networks. Ethereum, Polygon, Arbitrum and similar networks all use addresses starting with 0x. Match the network name, not the look of the address.
  3. Always copy the address fresh from the Deposit screen. Don't reuse a saved one — addresses differ by network.
  4. Sending a large amount? Send a small test first and confirm it arrives.

If the network the sender wants isn't listed on our Deposit screen, we don't support it for that coin. Ask them to use one we do.

⚠️ Crypto sent on the wrong network can be permanently lost. Blockchain transfers can't be reversed.

How to deposit

  1. From the "Wallet" tab, select the crypto you want to receive, then click "Deposit"
  2. You will be redirected to a page displaying:
    1. Your wallet address for that cryptocurrency
    2. A QR code linked to that crypto address
  3. Share your wallet address by:
    1. Letting the sender scan your QR code
    2. Tapping to copy address and sharing it manually

When will my deposit arrive?

Arrival time depends on the network and is shown next to each one on the Deposit screen. Most arrive within a few minutes. Ethereum can take longer when the network is busy.

Crypto was sent on the wrong network

Blockchain transfers can't be reversed, and in most cases funds sent on an unsupported network can't be recovered. Recovery may be possible in some cases, subject to conditions and a fee — see our Token Recovery Policy. Contact support with the transaction ID as soon as you can.

Withdrawing Cryptocurrency

Before withdrawing any cryptocurrency, it's recommended to first add the recipient's address to your address book. This not only helps streamline future transactions but also minimises the risk of errors.

Step 1: Add a recipient address to your address book

  1. Go to “Hub” tab, select "Profile & Settings", choose “Address Book"
  2. Tap "Add new address"
  3. Fill in the required details:
    1. Address label (e.g., "My Coinhako wallet")
    2. Coin (Double-check for accuracy)
    3. Memo/Destination Tag - required for some tokens like XRP or XLM
    4. Indicate the Wallet or Exchange name (e.g., "MetaMask", "Binance")
    5. Specify address ownership:
      1. Select “Myself” if the address belongs to you
      2. Select “Individual” or "Institution" if the address belongs to another person or entity and specify the owner's name
    6. ⚠️ Note: Always verify the network and address format. Sending to an incompatible or incorrect address or network may result in a permanent loss of funds.
  4. Click “Save”, then enter the 2FA code from your authenticator app to confirm and complete the process.

Step 2: Withdrawing cryptocurrency

  1. Go to "Wallet", select the cryptocurrency you want to send, then click "Withdraw"
  2. On the Withdraw crypto screen:
    1. Select a supported network
    2. Select a recipient’s address from your Address Book
      1. If the address isn't saved, click "Add New Address" to create one
    3. Enter the amount to send
    4. Review the withdrawal fee and net amount the recipient will receive
    5. Click "Preview Transaction"
  3. On the confirmation screen:
    1. Double-check all transaction details
    2. Tap "Proceed" if everything is correct
  4. Final verification:
    1. Click "Get the code" to receive a OTP code via email
    2. Enter the email verification code
    3. Enter your 2FA code from your authenticator app
    4. Click "Confirm" once you're ready
    5. ⚠️ Important: Always verify the recipient address, network, and amount before confirming a transaction.
  5. Your request will be processed and you'll receive an email notification once the transaction is complete. 

Start Trading Today

Now that you know how to deposit and withdraw crypto on Coinhako, you're ready to take full control of your digital assets. Whether you're transferring between wallets or receiving crypto from a friend or exchange, Coinhako provides a user-friendly and secure experience.