Last updated on November 23rd, 2021
You may have bought some cryptocurrencies on Coinhako since you can buy many currencies directly from SGD.
If you’re looking to buy an even wider variety of currencies, you may be looking to trade on FTX instead.
Here’s how you can transfer your funds from Coinhako to FTX:
How to transfer your crypto from Coinhako to FTX
Here are 7 steps that you’ll need to transfer your crypto from Coinhako to FTX:
- Go to ‘Wallet’ tab on the FTX dashboard
- Select the currency you wish to transfer and click on ‘Deposit’
- Copy the wallet address that is shown
- Go to ‘Wallet’ on Coinhako and select the currency to send
- Enter the withdrawal details on Coinhako
- Confirm the withdrawal with your 2FA
- Receive the currency on FTX
Go to ‘Wallet’ tab on the FTX dashboard
First, you’ll need to go to the ‘Wallet’ tab on FTX.
Select the currency you wish to transfer and click on ‘Deposit’
Once you’re in the Wallet section, you’ll need to choose the currency that you wish to transfer.
FTX has a wide variety of cryptocurrencies that you can choose from. Most of the cryptocurrencies that are available on Coinhako are supported in FTX.
Copy the wallet address that is shown
After selecting the cryptocurrency, you’ll need to select ‘Deposit‘.
This will give you a wallet address that you’ll need to copy over to Coinhako.
There are 2 important things that you’ll need to take note of:
- The wallet address you’re depositing to has to be in the same currency as the one that you’re withdrawing from
- The deposit address has to be copied letter for letter
It is very important that you ensure that both of these steps are followed carefully.
Otherwise, you may lose your crypto forever!
Go to ‘Wallet’ on Coinhako and select the currency to send
Once you’ve obtained the address to send to, you’ll need to go to Coinhako to start sending your funds.
You’ll need to go to ‘Wallet‘, and then select the currency that you wish to withdraw.
Enter the withdrawal details on Coinhako
After selecting the currency you wish to withdraw, you’ll need to enter the withdrawal details on Coinhako.
You’ll also be able to see the fees that you’ll incur when you send the currency over.
Confirm the withdrawal with your 2FA
After requesting your withdrawal, you’ll need to authenticate your withdrawal with a code from your 2FA app.
Receive the currency on FTX
Once the withdrawal has been confirmed, you are able to receive the cryptocurrency on FTX.
This may take a while, depending on the congestion of the network.
Which cryptocurrencies can I send from Coinhako to FTX?
Coinhako allows you to send 23 different currencies to FTX. Most of these cryptocurrencies are supported on FTX.
However, there are a limited number of trading pairs that you can buy these currencies with. For example, you can only buy USD, USDT or BTC from XRP.
If you are looking to buy rarer altcoins on FTX, it would be best to trade the currency that you sent from Coinhako to USD.
This is because USD has the most number of trading pairs with other cryptocurrencies!
An alternative way to send cryptocurrencies from Coinhako to FTX is by using USDT. However, this is done via the ERC20 network, where it can get rather congested.
The fee to withdraw USDT via the ERC20 network can go up to 50 USDT!
Lastly, you can also consider depositing USD directly to FTX, which does not cost you any fees!
You can’t withdraw BNB or ADA from Coinhako
If you are looking to send BNB or ADA to FTX, it is not possible for you to do so! This is because ADA and BNB are trade only tokens on Coinhako, which means that you cannot send or receive these tokens.
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What are the fees that Coinhako charges for sending to FTX?
Here are the withdrawal fees for these cryptocurrencies on Coinhako:
Most of these only cost a few cents in SGD!
If you choose to send either BTC or ETH from Coinhako, the withdrawal fees can be rather costly:
Even though it may seem like a small amount due to the number of decimal places, it is actually quite a high sum when you convert it back to SGD.
As such, the 4 currencies would be the most cost-effective way of sending cryptocurrencies from Coinhako to FTX.
FTX is a good exchange that has quite a lot of trading pairs. However, most of them are in USD.
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