Knowledge Base/Deposits & Withdrawals/Withdrawals of crypto assets/

Withdrawals of crypto assets

Accounts

Withdrawal is possible only from a custody account. If you need to withdraw funds from lending (or any other account type) funds need to be transferred to a custody account first.

Withdrawable amounts

Maximum amounts available for withdrawal depend on the current KYC ("Know Your Customer") user status.

KYC Level 0KYC Level 1KYC Level 2
Verification depthBasic verificationData verificationBiometric verification
Requirements- Email or phone number added - Check for restricted jurisdictionsOn top of L0: - Proof of Address / phone jurisdiction - Country of residence validated - Address added - Personal \ legal nameOn top of L1: - ID or passport checked - Facial verification - Liveness check - AML screening
DepositNo limitNo limitNo limit
Withdrawal1000 USD per day5000 USD per dayNo limit

Fees

When withdrawing funds out of Drixx platform users have to pay only the cost of the transaction (network fees or gas) for all ERC20 tokens (including USDT & USDC). When withdrawing funds average network fee is set dynamically based on blockchain load and can be viewed on the withdrawal dialog in Drixx UI.

Withdrawal speed

Drixx processes withdrawals once a day manually for safety reasons from 13:00 till 15:00 UTC. The cutoff time for collecting a withdrawal batch is 15:00 UTC each day, if your withdrawal request was submitted and confirmed via email after cutoff time then your withdrawal will be pushed to the next day's withdrawal batch. Over the weekends the timeframe for withdrawal might shift to 10:00 till 12:00 UTC.

Larger withdrawals can require additional review and take even longer especially if requested over the weekend.

A completed withdrawal does not mean that the fund has fully been processed. In most cases, it means that the transaction has been successfully posted on the Blockchain network. Once the transaction has been successfully listed there, the time it takes for the blocks to be confirmed may vary due to the congestion of the type of coin. As a result, it is very normal for unexpected/unusual delays in processing your transaction. For more details follow your transaction status via Transaction ID (TrxID) on services like e.g. Etherscan.

Note: For safety reasons Drixx will disable your withdrawals for the next 24h in case if:

  • You disable or reset your 2fa

  • You reset your password

Withdrawal to wrong address or chain

Drixx is not responsible for cases when you send withdrawals to an incorrect address. If you are withdrawing from Drixx to an incorrect address, there is nothing we can do to recover the loss.

Please be careful when entering the withdrawal address. It is always a good practice to send a small amount first to confirm that the withdrawal address is correct and the process works fine.

Withdrawal methods

Currently Drixx supports only ERC20 withdrawal method. In the future, we might also support Omni and TRC withdrawal methods for USDT.

Security

Drixx runs a multisignature withdrawal scheme. All Drixx addresses are multisignature and all storage is kept offline.

Even in the event of a system failure or compromise, there would not be enough keys available to an attacker to steal funds.

Each withdrawal on Drixx is audited manually by at least two Drixx employees before sending. No private keys are kept on any cloud server and deep cold storage is used to keep the funds safe.

Note all deposits and withdrawals are subject to more in-depth inspection in case of any suspicious activity and Drixx reserves the right to request additional information on a case by case basis.

FAQ

  • Q: When are fund withdrawals processed?

  • A: Withdrawal process starts every day at 13:00 UTC and might proceed until 15:00 UTC daily. Over the weekends the timeframe for withdrawal might shift to 10:00 till 12:00 UTC. Once all withdrawal transactions are processed they will be sent to the address you've specified.

  • Q: Why are withdrawals sent only once a day?

  • A: Drixx stores all crypto in a cold multi-signature wallet, which is stored offline that requires 2 of 3 partners to put their signature for any transaction before funds may be spent or sent out. In order to prepare a daily withdrawal batch we first need to collect those signatures and move the total withdrawal amount from cold wallet to a hot one.

Drixx UI

You can withdraw your crypto assets (up to the available balance) by pressing the Withdraw button while being logged in in the platform.

Notifications

Once you’ve requested withdrawal you will receive two notifications: “withdrawal requested” (1) and “withdrawal succeeded” (2). Once withdrawal is requested via Drixx UI first you will receive email notification stating that your withdrawal has been put into the queue and will be processed within the next 24 hours. Once withdrawal is sent and confirmed you will receive the second email with the transaction details and confirmation funds have been pushed to the destination address.