5 Steps To Transfer From Huobi To Your Phantom Wallet

You may have just bought some cryptocurrencies on Huobi, and are looking to store them on your Phantom wallet.

However, how do you go about transferring your cryptocurrencies between these platforms?

How to transfer your crypto from Huobi To Phantom

Here are 5 steps you’ll need to transfer your crypto from Huobi to Phantom:

1. Obtain the deposit address on Phantom
2. Go to ‘Exchange Account’ on Huobi
3. Select the cryptocurrency that you want to withdraw
4. Enter the transaction details
5. Review the withdrawal before confirming the transaction

You can view a video guide to transferring your funds:

Alternatively, here’s the text version of how you can transfer your funds:

Obtain the deposit address on your Phantom Wallet

When you are on the phantom wallet, you will need to select the cryptocurrency that you wish to transfer from Huobi.

You can go to ‘Deposit‘,

and then search for the cryptocurrency that you wish to transfer. For this example, I will be transferring USDT.

You will see the deposit address that you can use to transfer from the platform of your choice to Phantom Wallet.

The deposit address is actually the same as when you are depositing BTC, ETH, or USDC.

Go to ‘Exchange Account’ on Huobi

On Huobi’s platform, you’ll need to go to ‘Exchange Account‘ from the Balances tab.

This account allows you to deposit and withdraw cryptocurrencies from Huobi.

Select the cryptocurrency you want to withdraw

Once you’re there, you can select the cryptocurrency that you intend to withdraw, in this case, “USDT”

You will need to click on the ‘Withdraw‘ button.

Enter the details of the transaction

On the next page, you will need to enter the details of the transaction.

This includes:

1. The deposit address that you’ve obtained from Phantom
2. The network that you will be using
3. The amount of USDT that you wish to withdraw from Huobi

You may want to note that Phantom Wallet only supports SOL network deposits. If you transfer your cryptocurrency to Phantom Wallet via other networks like ERC20, your cryptocurrency may be lost forever!

Receive your cryptocurrency in your Phantom Wallet

After the transfer has been initiated, you will receive your desired cryptocurrency in your Phantom Wallet. Transactions on the Solana network are really fast, and you should be able to receive the funds within a few minutes!

The same process can be applied to any other token on the Solana network

If you would like to transfer other cryptocurrencies to the Phantom Wallet, do make sure that you are using the Solana network to send your funds over.

This will apply to currencies like SOL or USDC, where Huobi allows Solana network withdrawals for these currencies.

If you choose to withdraw to Phantom using other networks, you funds may be lost!

Conclusion

When you are transferring your cryptocurrency to your Phantom Wallet, you will need to make sure that you are sending it via the SOL network.

This is similar to how you would send assets from other platforms like Kraken, Crypto.com or Binance to Phantom.

The fees when withdrawing cryptocurrency using the SOL network is much lower compared to that of the ERC20 network.

As such, it would be good to check that the platform that you’re using to buy your cryptocurrency supports SOL withdrawals, and not just ERC20 withdrawals!

If you’re looking to generate tax reports for your crypto trades, you can consider using Koinly, which allows you to track your transactions from 350+ exchanges and 50+ crypto wallets.

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For more information, you can view the terms of the referral program here.

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