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. The process is consistent across all supported cryptocurrencies, making it easy for users to manage digital assets securely and efficiently.

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 “Someone else” 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 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. 

Depositing Cryptocurrency

Depositing crypto on Coinhako is simple and secure. Just follow the steps below:
  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
🛡️ Tip: Always make sure the sender selects the correct network when sending to your address. Only use the address provided for that specific cryptocurrency.

✅ 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.

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