Not Your Keys, Not Your Bitcoin

The most popular sentence in the blockchain :

“Not Your Keys, Not Your Bitcoin”

It means that the real control of the mnemonic (private key) is the real control of your own asset, so only using a decentralized wallet can reflect the spirit of blockchain decentralization. Especially in the situation of frequent disturbances on the centralized platform, withdrawing coins to their own wallet is essential for every user.

This article will take BTC, USDT, and other assets as examples to teach you how to withdraw your assets from an exchange and how to use a decentralized wallet.

Ready to work:

1. Bitpie Wallet (download on bitpiehk.com and install it, back up mnemonic phrase)

2. Exchanges with assets (withdrawal permission is open)

Take a certain exchange as an example.

1. Open the exchange where you want to withdraw and enter the asset page.

2. Click the “Withdraw” button

3. Withdraw BTC to Bitpie wallet as an example

Open Bitpie wallet, select “BTC System”, click “Receive”, to copy the wallet’s BTC address.

Go back to the exchange page, select the currency to withdraw, here select “BTC”.

Fill in the address you want to withdraw (paste the receiving address copied from Bitpie. Please note that address has to be checked twice to prevent address copy errors.)

Then fill in the amount you want to withdraw, and after verifying it, click “Withdraw”

Usually, the exchange will ask the user to fill in various verification codes at this time. After filling in, the exchange will review your withdrawal request. After the review is completed, the transaction will be sent to the blockchain, and the wallet can display the balance at this time, wait until the transaction is confirmed by the blockchain.

4. Common problems when withdrawing USDT

There are many types of USDT currently circulating in the market, users may be confused when withdrawing. The current USDT is divided into USDT-OMNI (Bitcoin main chain), USDT-ERC20 (Ethereum main chain), USDT-TRC20 (Tron main chain). The prices of the three types of USDT are the same, but the main chain is different.

When withdrawing USDT, the exchange and wallet need to choose the same main chain to confirm the successful withdrawal. If the three main chain addresses are confused, the withdrawal will not proceed, and the amount will not be displayed, don’t worry about that.

After understanding the USDT system, the process of withdrawal is as simple as BTC. (The ERC20 version of USDT is currently the most circulating on the market.) The Bitpie wallet supports all versions of USDT and is the most powerful USDT wallet)

5. Common problems when withdrawing ERC20 TOKEN. Such as: PAX, USDC, etc.

The ERC20 token is an asset issued on the Ethereum main chain, when receiving ERC20 token, you can directly use the wallet’s Ethereum address to receive it, and the balance of the TOKEN will be automatically displayed after confirmation.

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