Do you want to transfer your cryptocurrencies from BISON to your own external wallet or to another exchange? Here you will learn how the withdrawal process works and how you can check the status of your transaction.
Process Step: How to Make a Withdrawal
Open the BISON app and navigate to Account ➞ Withdraw ➞ Withdraw Cryptocurrencies.
Select the desired cryptocurrency.
Enter the withdrawal amount.
Enter the destination address of your external wallet (please be careful about copy-paste errors and the network!).
Confirm that you have taken note of the displayed instructions.
Specify to which destination your withdrawal should be sent (self-managed wallet or crypto platform).
Enter your BISON password.
Enter the security code you received via SMS.
Confirm the withdrawal request in the email you received.
Your withdrawal is on its way to your wallet.
Please note that in individual cases, additional information about your withdrawal may be required due to the Transfer of Funds Regulation (Satoshi Test / Digital Signature).
By the way, withdrawing cryptocurrencies is free of charge for you.
Cancelling Crypto Withdrawals
You can cancel a withdrawal yourself up to 24 hours after the withdrawal has been initiated under Orders ➞ Activity cancel. After 24 hours, the withdrawal can no longer be reversed and may lead to an irreversible loss (e.g., if an incorrect wallet address was entered).
If your requested transaction is in the status “Withdrawal pending”, you can cancel it. To do this, select the requested withdrawal of your cryptocurrency, click on “Cancel withdrawal” and confirm the process. The cryptocurrencies will then remain available in your BISON account.
What withdrawal statuses are there and what do they mean?
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Withdrawal is paused: The withdrawal has been temporarily halted. The cause can be, for example, a pending verification or a manual review.
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Withdrawal is cancelled: The withdrawal was aborted and will not be processed further. No withdrawal of your cryptocurrencies will take place.
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Withdrawal is being processed: The withdrawal has been successfully submitted and is currently being reviewed or technically processed.
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Withdrawal pending: The withdrawal has been successfully registered and is waiting for the next processing step.
Important Requirements: Networks, Transfer Regulation & Address Formats
Before you start a withdrawal, make sure that you use the correct network and comply with all regulatory requirements (such as providing the recipient according to the Transfer of Funds Regulation). You can find all details as well as the minimum withdrawal amounts in our central overview:
Please note the minimum withdrawal amount for transactions, which exists for technical reasons. If you try to send less than the minimum withdrawal amount, your cryptocurrency will not be sent and you will receive an error message ("There was a problem submitting your withdrawal" or "Something went wrong. Please try again later").
Also note: Transferring your cryptocurrencies to an external wallet address that is not your own is not permitted according to the terms and conditions. This prohibition also applies to crypto transactions to service providers or external wallets of other persons.
Security: Approval of Your Withdrawal
To best protect your coins, every withdrawal must be confirmed if it is not made from a trusted device. For example, if you start the withdrawal on a PC in the web version, you will definitely need your smartphone for secure approval. You can find all information here: Security Approval: The Trusted Device
Security: Deactivating the Crypto Withdrawal Function
If you want to deactivate the crypto withdrawal function for security reasons, you can do so under Account ➞ Security ➞ Deactivate Crypto Withdrawals (Web: https://trade.bisonapp.com/disable-crypto-withdrawals).
This will completely and permanently deactivate all crypto withdrawals for your account. This means that no transfers of your cryptocurrencies can be made anymore. This measure increases the security of your account, for example, if you have lost your smartphone or want to ensure that no withdrawals are possible for the time being.
To reactivate crypto withdrawals later, you must contact our customer support. Attention: Reactivation is only possible through BISON service and may take several working days!
Troubleshooting: Why Don’t I See My Ethereum Withdrawal in My Wallet?
BISON uses highly secure multisignature technologies (Multisig) for custody. For withdrawals via the Ethereum network, this causes the transfer to be processed as a so-called "Internal Transaction" (Internal Txn) on the blockchain.
Some external wallets have display issues and do not show these internal transactions in the normal history (users of hardware wallets like Ledger or Trezor are usually not affected).
Here’s how you can check your incoming funds:
Open the independent blockchain explorer Etherscan.io.
Copy the public address of your own Ethereum wallet and paste it into the search field at the top.
On the overview page, click on the tab “Internal Txns” (next to the standard transactions). Here you will now see all incoming transactions processed via Multisig, including your BISON withdrawal, correctly displayed.
Questions or Problems?
Questions about the duration of your crypto withdrawal? Please contact us no earlier than 48 hours after you have made the withdrawal from your BISON account. For questions about cancellations, please contact us immediately.
In this case, please send us a message via our contact form.