How To Withdraw ckBTC?

How to Withdraw ckBTC

Bookie offers the option to withdraw ckBTC as ckBTC - i.e without unminting back to native BTC. When you request a ckBTC withdrawl, your ckBTC is sent directly to your Internet Computer wallet. There is no minimum withdrawal on ckBTC withdrawals. Here's how to complete the process.

Step 1: Initiate the ckBTC Withdrawal in Your Account

1. Log In: Sign in to your account.

2. Go to Wallet: Navigate to the Wallet page.

3. Select ckBTC Withdrawal: Select 'Withdraw ckBTC?' to enable next steps.

Step 2: Provide Your Principal ID to Internet Computer Wallet Address

1. Enter Your Principal ID: In the ckBTC withdrawal form, paste the principal ID of the ICP wallet where you want to receive your funds. This could be a personal wallet or exchange wallet—just ensure it’s capable of receiving ICRC tokens.

2. Double-Check the Address: Always verify the principal ID carefully. Crypto transactions are irreversible, so an incorrect address could result in lost funds.

3. Specify the Amount: Enter the amount of ckBTC you wish to withdraw. This amount will be sent to you as ckBTC.

Step 3: Confirm the ckBTC Withdrawal

1. Review the Details: Confirm the princinpal ID and withdrawal amount.

2. Confirm the Transaction: Submit the withdrawal request. The platform will process it, and your ckBTC will be sent.

Important Notes

• Network Fees: Please be aware that standard ICP network fees apply to ckBTC withdrawals.

• Minimum Withdrawal Amount: There is no minimum withdrawal amount on ckBTC withdrawals.

• Processing Time: ckBTC Withdrawal requests are typically processed in 1-3 seconds but may take longer depending on IC network traffic.