Withdrawing Cryptocurrency From Your Paxos Account (Interactive Brokers IBKR)

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thaterrormessage
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Withdrawing Cryptocurrency From Your Paxos Account (Interactive Brokers IBKR)

Post by thaterrormessage »

Dear Client,

You now have the ability to withdraw cryptocurrency assets from your account at Paxos to an external wallet using the Paxos web app.

To withdraw cryptocurrency from your Paxos account, you will need to:
Login to the Paxos web app at https://IBKR.paxosclients.com
Click the Transfer Crypto button located at the top right corner of the page
Complete the two-factor authentication process
Select the cryptocurrency you wish to withdraw from your Paxos account
Enter the destination address you wish Paxos to transfer your cryptocurrency to
Review and accept the Acknowledgement
Enter the cryptocurrency amount or percentage you want Paxos to transfer
Select a beneficiary. Please note that the beneficiary must be an existing user with withdrawal rights for your IBKR account.
Verify all details of your withdrawal. WITHDRAWALS MADE TO THE WRONG ADDRESS CANNOT BE REVERSED.
Electronically sign the transfer form
Transfers out of Paxos are currently limited to a maximum of USD 5,000 (or equivalent) per transaction and a total of USD 5,000 (or equivalent) per day.

Withdrawal Fees: Paxos passes through the network transaction fee or gas fee when transferring digital assets out of your account to an external wallet. The fee will be deducted from your total transfer amount (i.e., the destination address will receive the cryptocurrency transfer quantity net of network transaction or gas fees). This applies to all crypto assets.

Paxos will attempt to process your withdrawal as quickly as possible. While many withdrawals can be completed in hours, factors such as withdrawal size, the token being withdrawn and congestion on the Blockchain network may affect the speed of processing.

Note that the Paxos Exchange Terms & Conditions and the Supplement to Interactive Brokers LLC Client Agreement in Connection with Trading Digital Assets with Paxos Trust Company Through IBKR’s Platform have been updated with terms related to cryptocurrency withdrawals

Please contact Client Services if you have any additional questions.

Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses.

Interactive Brokers LLC is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets.
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