How to withdraw coins from Open Sesame Exchange to your wallet?

Withdraw coins from Open Sesame Exchange to your external wallet by setting up an account, verifying your identity, linking your wallet address, initiating the withdrawal, paying network fees, and tracking the status of your transaction.

Dec 22, 2024 at 07:58 pm

Key Points:

• Familiarize yourself with the Open Sesame Exchange platform and ensure you have an account set up.
• Verify your identity and complete any required Know-Your-Customer (KYC) procedures.
• Link your external wallet address to your Open Sesame Exchange account.
• Choose the coins you want to withdraw and specify the amount.
• Confirm the transaction details and pay the required network fees.
• Track the status of your withdrawal and follow any additional instructions provided.

How to Withdraw Coins from Open Sesame Exchange to Your Wallet:

1. Set Up an Open Sesame Exchange Account:

• Visit the Open Sesame Exchange website and click on "Sign Up" to create an account.
• Provide your email address, create a strong password, and enter the necessary personal information.
• Verify your email address by clicking on the link sent to your inbox.

2. Verify Your Identity:

• Open Sesame Exchange, like many other cryptocurrency exchanges, requires users to verify their identity for security and compliance purposes.
• Click on "Settings" in your account and select "Verification."
• Upload a valid government-issued ID, such as a passport or driver's license.
• Provide a selfie holding your ID for additional security.

3. Link Your External Wallet Address:

• Open Sesame Exchange allows you to withdraw coins to external wallets.
• Click on "Wallet" in your account and select "Withdraw."
• Choose the coin you want to withdraw and click on "Add New Address."
• Enter the address of your external wallet and click on "Add."

4. Initiate the Withdrawal:

• Select the coin you want to withdraw from your account.
• Enter the withdrawal amount and click on "Withdraw."
• Verify the withdrawal details, including the destination address, amount, and network fees.
• Click on "Confirm Withdrawal."

5. Pay Network Fees:

• Cryptocurrency withdrawals involve transaction fees paid to the network miners or validators.
• Open Sesame Exchange displays the estimated network fee for each withdrawal.
• You need to have sufficient funds in your account to cover these fees.

6. Track Your Withdrawal:

• Once you submit the withdrawal request, you can track its status in your account.
• Most withdrawals are processed quickly, but some may take longer depending on the network congestion.
• You will receive an email notification when your withdrawal is complete.

FAQs:

Q: What are the withdrawal fees on Open Sesame Exchange?
A: Open Sesame Exchange charges competitive withdrawal fees that vary depending on the coin and network conditions. You can check the estimated withdrawal fee for each coin before confirming the transaction.

Q: How long does it take for a withdrawal to be processed?
A: Most withdrawals are processed within a few minutes, but some may take longer due to network congestion. You can track the status of your withdrawal in your account.

Q: What if I don't receive my withdrawal?
A: If you don't receive your withdrawal after a reasonable amount of time, contact Open Sesame Exchange support. They will investigate the issue and assist you in resolving it.

Q: Can I withdraw coins to any wallet address?
A: Open Sesame Exchange allows you to withdraw coins to external wallet addresses that support the specific coin or token. You need to ensure that the destination address is correct and that it supports the coin you are withdrawing.

Q: What is the minimum withdrawal amount for Open Sesame Exchange?
A: Open Sesame Exchange sets minimum withdrawal limits for different coins to prevent spamming and ensure network efficiency. The minimum withdrawal amount varies depending on the coin, and you can check it before initiating a withdrawal.