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Making a withdrawal

1

Open the withdrawal screen

From your balance, choose Withdraw.
2

Choose the network

The screen lists the networks open for withdrawals right now.
3

Paste the destination address

Add the tag or memo if that network needs one.
4

Enter the amount

The screen shows the network fee and the minimum before you confirm.
5

Confirm

You may be asked for a two-step code, which MagicMarkets emails to you, or to confirm the withdrawal from an emailed link, or both. Complete the captcha if the screen shows one. An emailed confirmation must be completed before the withdrawal is processed.

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The address is your responsibility

Check it character by character, and check the network matches the address. A withdrawal sent to a valid address on the wrong network, or to a mistyped address, is gone. Neither MagicMarkets nor anyone else can reverse a confirmed blockchain transaction. Send a small test amount first if you are using a new address.

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Network fees

There is no commission on trading, and no MagicMarkets charge for withdrawing. There is a blockchain network fee, because someone has to pay the chain to move the funds. The fee is quoted per currency and network before you confirm, and it varies with network conditions.

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Minimums

Each network has a minimum withdrawal. The screen shows it when you choose the network.

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Confirmation steps

Depending on your account settings, a withdrawal can require an emailed two-step code, confirmation from a link MagicMarkets emails you, or both. MagicMarkets does not process the withdrawal until you confirm it. These steps make it harder for anyone else to move your funds. See Security.

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Cancelling

A withdrawal can be cancelled while it is still pending. Once it has been broadcast to the network it cannot be recalled.

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Why a withdrawal gets blocked

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Open positions tie up funds

Money in an open position cannot be withdrawn until the position settles. The same applies to a position you close early. Smart credit lets you trade with that money again straight away, but you can withdraw it only once the positions settle. The withdrawal screen shows the amount available to withdraw.

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If it is taking too long

See Withdrawal delayed.