On November 11th 2022, the FTX cryptocurrency exchange announced a bankruptcy filing. This guide was written prior to the filing, which may impact user withdrawals and deposits. Please refer to the official FTX website for more information.
Crypto.com is a fully fledged cryptocurrency platform. The platform's name is certainly revealing.
Crypto.com offers members access to over 250 coins and lets members earn interest on their holdings.
FTX, on the other hand, is another crypto platform juggernaut with access to over 300 coins. However, due to US regulations, FTX is not able to offer its full platform in the US. With this in mind, some FTX investors may be better suited by switching to Crypto.com.
In this article, we review the steps to transfer from FTX to Crypto.com.
Moving crypto from one platform to another is generally a simple process. And that is certainly true when moving from FTX to Crypto.com.
You need the 3 steps below only:
Let's go over each part.
The first step to initiating a transfer to Crypto.com is actually creating a Crypto.com account.
Is your Crypto.com account already set up? Move on to step 2!
Creating an account is easy! Follow the steps below:
As long as your information is accurate and your images are clear, the verification process can be as quick as 5 minutes!
Each cryptocurrency is stored in a wallet. And each wallet has a unique alphanumeric code.
In order to transfer crypto from one wallet to another, you will need this code, or address.
Additionally, each cryptocurrency has a unique wallet with a unique address. It is important to ensure you are using the correct wallet address when moving cryptos. For example, if you send your Bitcoin to an Ethereum address, then you could lose your Bitcoin forever.
In order to locate a wallet's address in Crypto.com, follow the steps below:
We'll be using this address inside FTX to start a transfer to Crypto.com.
Now that you have a Crypto.com account and have located your wallet address, you are ready to make the transfer.
Before we jump into those steps, there are a few things to be aware of.
First, in order to send crypto out of FTX, you will need to set up your account with 2FA through Google Authenticate. Both iPhone and Android users can download the Google Authenticate app.
Second, when you transfer crypto from one platform to another, there are typically fees involved. This is true when transferring from FTX to Crypto.com. You can view applicable fees on the FTX withdrawal fee page. FTX pays a majority of fees for their members, though for withdrawals, you will pay a small fee for every transfer.
After you have clicked "Withdraw," you can check on the status of the transfer by clicking on the "Withdrawals" tab within the wallet page on FTX.US.
Once the transfer is confirmed, you will receive an email informing you of the finished withdrawal.
Crypto transfers are actually pretty simple. The entire process is as simple as copying and pasting the wallet address.
It's critical that you ensure the wallet address you are using matches the crypto you want to transfer.
Once you have located the wallet address and pasted it into FTX's platform, you just have to tap "Withdraw." The transfer will take a few days, and you are all set to begin trading cryptos in Crypto.com.
If you want to learn more about crypto.com, be sure to check out our complete review.