Withdrawals
Withdrawing to a Wallet
1. Open the Withdraw menu
2. Choose the cryptocurrency you wish to withdraw and enter the amount
Note: If your available balance is insufficient, enabling margin will redeem outstanding lends or create a borrow to cover the withdrawal. If your balance is sufficient, enabling margin does nothing.
3. Enter the destination address or open 'Address book' and select address
4. Click “Continue” and then enter your 'Email verification code' and 'Authenticator app code', select Submit button
Transfers Between Sub-Accounts
Click “Withdraw.”
Under the “Subaccounts” tab, select the token you wish to transfer.
Enter the transfer amount.
From the dropdown menu, select the source subaccount.
From the dropdown menu, select the destination subaccount.
Click “Transfer.”
🎉 Done! Your funds will be credited shortly.
For the minimum deposit and withdrawal amounts and withdrawal fees for different tokens, please refer to https://backpack.exchange/market-info/assets.
Travel Rule
The Travel Rule is a global regulatory requirement issued by the Financial Action Task Force (FATF). It requires Virtual Asset Service Providers (VASPs), such as cryptocurrency exchanges, to share sender and recipient information when transferring digital assets above a certain threshold. This helps prevent money laundering, terrorist financing, and other illicit activities.
Why Does the Exchange Ask for Additional Information When I Withdraw?
Depending on the withdrawal amount and the destination, you may be asked to provide beneficiary details such as the recipient’s name or account reference. This information is required for Travel Rule compliance and ensures the security and transparency of crypto transfers.
Is My Personal Information Safe Under the Travel Rule?
Yes. All data collected for Travel Rule compliance is protected under strict data privacy and security standards. It is used only for regulatory compliance and will not be shared with unauthorized parties.
Adress Book
The Address Book is a feature designed to make crypto withdrawals more secure and convenient. It allows you to save frequently used wallet addresses and manage them within your account.
How to Add an Address to the Address Book
Click “Portfolio.”
Under the “Settings” tab, click “Address Book.”
From the “Network” dropdown menu, select the corresponding network.
Click “Add Address.”
Fill in the required fields:
Set the label for the address.
Enter a brief description (optional).
Paste your frequently used withdrawal address.
Choose whether to enable 2FA for withdrawals (recommended).
Click “Continue” to save.
🎉 Done! Next time you make a withdrawal, you can quickly select this saved address directly from your Address Book.
Frequently Asked Questions
How to transfers between exchange accounts?
The process is exactly the same as Withdrawing to a Wallet: simply paste the deposit address of the corresponding asset from the destination exchange.
Please note: Although a withdrawal fee may appear on the page during submission, the system will automatically determine whether the transfer is to another internal exchange address. If it is, the actual credited amount will incur 0 fees.
How long does an on-chain withdrawal take?
The processing time depends on:
The blockchain network selected (e.g., BTC, ETH, TRON).
The current level of network congestion.
The number of confirmations required by the receiving platform.
Withdrawals may take from a few minutes to an hour to be received.
Why hasn’t my withdrawal arrived yet?
Common reasons include:
The transaction is still waiting for blockchain confirmations.
Network congestion is delaying processing.
The receiving platform requires more confirmations before crediting funds.
You can track your transaction using the provided TxID (Transaction ID) on a blockchain explorer.
What is a TxID and where can I find it?
A TxID (Transaction ID) is a unique identifier for your withdrawal on the blockchain. You can find it in your withdrawal history on the exchange and use it to check transaction status on a blockchain explorer.
Can I cancel an on-chain withdrawal after submitting it?
No. Once a withdrawal request has been processed and broadcast to the blockchain, it cannot be canceled or reversed. Please double-check all withdrawal details before confirming.
What happens if I entered the wrong address?
If you withdraw to an incorrect or invalid address, the funds may be lost permanently. The exchange cannot retrieve funds sent to the wrong address. Always verify the destination address carefully.
Why do some withdrawals require a Memo/Tag?
Certain cryptocurrencies (e.g., XRP, XLM, EOS) require a memo, tag, or payment ID in addition to the wallet address. If you forget to include it, your funds may not be credited properly on the receiving platform. Manual recovery may be possible but is not guaranteed and may require service fees.
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