Can I withdraw cash from AscendEX contracts?

Can I Withdraw Cash from AscendEX Contracts?Understanding AscendEX Contracts and Withdrawal Options

AscendEX contracts, also known as perpetual futures, are agreements to buy or sell an underlying cryptocurrency at a specified price in the future. Unlike traditional futures contracts, perpetual futures do not have an expiration date and can be held indefinitely.

When it comes to withdrawals, AscendEX offers various options, including the withdrawal of cash from contracts positions. Here's a comprehensive guide on how to withdraw cash from AscendEX contracts:

Step 1: Understand the Settlement Process

Before withdrawing cash from contracts, it's essential to understand the settlement process. When you close a contracts position, you will receive either a profit or loss denominated in the underlying cryptocurrency. This amount is then settled and added to your AscendEX account.

Step 2: Head to the Withdrawal Page

Once you have closed out your contracts position and have a balance of the underlying cryptocurrency in your account, navigate to the "Withdraw" page on the AscendEX platform. You can access this page by clicking on the "Balance" tab and then selecting the "Withdraw" option.

Step 3: Choose the Currency and Network

On the withdrawal page, you will need to select the cryptocurrency you want to withdraw and the network you wish to use for the transaction. AscendEX supports various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and USDT, and different networks such as the ERC-20 and BEP-20 networks.

Step 4: Enter the Withdrawal Address

Next, you need to provide the withdrawal address for the cryptocurrency. This is the address of the wallet where you want to receive the withdrawn funds. Ensure that the withdrawal address you enter matches the type of cryptocurrency you are withdrawing.

Step 5: Specify the Withdrawal Amount

After providing the withdrawal address, specify the amount of cryptocurrency you want to withdraw. You can withdraw all or a portion of your available balance.

Step 6: Confirm the Withdrawal

Once you have filled in all the necessary details, carefully review the withdrawal information, including the amount, address, and network. Click on the "Submit" button to confirm the withdrawal.

Step 7: Check Your Email

After submitting the withdrawal request, AscendEX will send a confirmation email to your registered email address. This email will contain a link that you need to click to complete the withdrawal process.

Step 8: Monitor the Withdrawal Status

You can track the status of your withdrawal through the "Transaction Records" section on the AscendEX platform. The withdrawal status will change to "Processing" and eventually to "Succeeded" once the transaction is complete. The withdrawal time may vary depending on the network congestion and the cryptocurrency being withdrawn.