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Phemex Withdrawal Methods & Limits

Publisher

February 4, 2024
Phemex Withdrawal Methods & Limits

Phemex provides diverse withdrawal options, including Crypto and Fiat withdrawals. Supported fiat currencies for withdrawals are USD, EUR, CHF, CAD, GBP, AUD, and JPY. Crypto withdrawals support various coins like USDT, BTC, TRX, ETH, and USDC, across different crypto/blockchain networks such as TRC20, ERC20, Solana, Polygon, Fantom, BSC(BEP20), Arbitrum One, Bitcoin, zkSync Era, Avalanche C-chain, BCH-BitcoinCash, FIL-Filecoin.

Explore a comprehensive understanding of the Phemex platform by reading our detailed Phemex review.

 

Crypto Withdrawal Methods

Experience versatile trading on Phemex, supporting a whopping 331 coins which includes popular coins such as USDT, BTC, TRX, ETH, and USDC. Explore different crypto categories like Hot Contract, Hot Spot, Top Gainers, and New Listings, spanning across various blockchain networks, including TRC20, ERC20, Solana, Polygon, Fantom, and more.

 

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Supported Cryptos on Phemex

 

Fiat Withdrawal Methods

Catering to a worldwide audience, Phemex facilitates seamless withdrawals in major fiat currencies like USD, EUR, CHF, CAD, GBP, AUD, and JPY through methods such as Swift, ACH, SEPA, and FPS. Users also enjoy enhanced flexibility with third-party services like Moonpay, Mercuryo, Transak, Banxa, and Simplex. In supported geographic locations, fiat withdrawals are further facilitated through a strategic partnership with Legend Trading.

 

Withdrawal Limits and Fees

Fiat Withdrawal Limits

Phemex provides users with varying fiat withdrawal limits based on their verification status, allowing for a daily withdrawal limit of $50.00K for Current Verification, $100.00K for Basic Verification, and an extended limit of $2.00M for Advanced Verification.

Verification Status Withdrawal Limit per 24 hours
Current Features $50.00K Daily
Basic Verification $100.00K Daily
Advanced Verification $2.00M Daily

 

Fiat Withdrawal Fees

Withdrawing fiat from the Phemex platform attracts a $30 fee, deducted from the total amount. It’s essential to be aware that this fee applies only to withdrawals below $5,000, and withdrawals above $5,000 are subject to a 0% fee. Additionally, users should stay vigilant as there might be supplementary bank-specific charges, and additional fees from your bank may vary based on your financial institution’s policies.

 

Crypto Withdrawal Limits/Fees

Imposing minimum withdrawal limits and fees for crypto assets, the table below illustrates specific thresholds for different cryptocurrencies, such as a 0.0015 BTC minimum limit with a 0.00048 BTC withdrawal fee for BTC and a 50 USDT minimum limit with a 12 USDT withdrawal fee for USDT – ETH.

 

Phemex Crypto Withdrawals Guide

Step 1: Login and Navigate to your Dashboard

Visit the official Phemex page, log in, or sign up. Hover over the “Asset Wallet” icon and click on the “Withdraw” button.

 

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Step 2: Choose Cryptocurrency and Network

Download the Google Authenticator App and bind your Phemex Asset wallet.

Select your cryptocurrency (e.g., USDT, BTC) and preferred network (e.g., TRC20, ERC20).

 

Step 3: Confirm Details and Withdraw

Enter the receiving wallet address or access saved addresses in “Address Management.”

Input the withdrawal amount and confirm details. In addition, for certain networks, ensure to provide a memo if required. Input the withdrawal amount and meticulously confirm all details. It is crucial to double-check every input, as inaccuracies may result in the potential loss of all funds.

Click “Withdraw” and complete the process with security verifications like email, SMS, and 2FA.

 

Phemex Fiat Withdrawals Guide (if supported)

Step 1: Visit the Fiat Withdrawal Page

Hover on the “Asset Wallet” icon, click “Withdraw,” and select “Fiat Withdrawal.”

Then click on “Fiat Withdrawal” in the top right corner of the page.

 

Step 2: Select Fiat Currency and Withdrawal Method

Choose the fiat currency and input the withdrawal amount.

Select a supported withdrawal method for your chosen fiat currency.

 

Step 3: Add Bank Account and Request Withdrawal

Select or link your bank account.

Initiate a withdrawal request after confirming details, ensuring security authentication is verified.

Upon submitting your withdrawal request, kindly await the arrival of funds in your bank account, typically within 1-3 days.

 

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Summary

Phemex offers a range of withdrawal options, supporting major fiat currencies and various cryptocurrencies like USDT, BTC, TRX, and ETH across networks such as TRC20, ERC20, Solana, and Polygon. Users can seamlessly withdraw funds, with fiat withdrawal availability contingent on geographic location and facilitated through a partnership with Legend Trading. For comprehensive details on withdrawal limits and fees, consult the official Phemex platform.

 

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