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Business Overview ​

Business Introduction ​

Overview ​

Cryptocurrency withdrawal refers to the process of a client transferring cryptocurrency held in a trading platform or personal wallet to an external target address (such as another trading platform account/wallet or another person's receiving address). Its core features and scenarios are as follows:

  • Business Nature: A cryptocurrency withdrawal transfers digital asset ownership between addresses by broadcasting a transaction to the blockchain network. The process relies on a dual-layer security mechanism consisting of platform review and on-chain confirmation.
  • Common Scenarios: Asset transfers between platforms; personal custody (e.g., transferring to a hardware wallet); payment to a third party; or converting to fiat currency by first transferring to a platform that supports fiat withdrawals.
  • Key Rules: The selected blockchain network must match the cryptocurrency being withdrawn (e.g., ERC-20 or TRC-20 for USDT). Withdrawals are also subject to platform requirements such as KYC verification, withdrawal limits, and security checks.

Withdrawal Procedure ​

Basic process for withdrawals:

  1. Preparation: Confirm basic conditions.
  2. Initiate a withdrawal request (taking a trading platform as an example).
  3. Complete security check and submission.
  4. WBO work order approval process
  5. Wait for platform review and on-chain confirmation
  6. Confirm the receipt status.
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Note: Virtual currency accounts are recorded as combined assets of "cryptocurrency + quotation currency". Deposits and withdrawals are recorded separately by cryptocurrency. When ultimately synchronized to the securities account, they are recorded under the combined asset (Example: ETH with a default quotation currency of USD would be recorded under the symbol VA/HAS/ETHUSD). During a withdrawal, the system will first deduct from the cryptocurrency with the largest available balance. If that balance is insufficient to cover the withdrawal amount, the system will automatically draw from the cryptocurrency with the second-largest balance.