How long does it take to transfer from crypto.com to metamask

A withdrawal from the Crypto.com App is a transaction of transferring crypto from the Crypto.com environment to an external address (usually a wallet or an exchange). As all blockchain transactions – and contrary to sending crypto to another Crypto.com App user – come with a fee.

You can find the relevant withdrawal fee in the Fees & Limits section of the Settings in your Crypto.com App.

Automated Withdrawals

All Users’ deposits are held in cold storage, for security reasons, however, withdrawal requests – for all cryptos – are automated.

In most cases, withdrawals are almost instant and normally should take no longer than 2-3 hours to be processed.

Note: Withdrawals will be sent from an address that differs from your crypto’s deposit address.

Security

2FA will be required for both addresses whitelisting and initiating crypto withdrawals.

To safeguard your funds, you are recommended to enable the 24-hour withdrawal lock, which protects your account by disabling withdrawals for 24 hours to addresses that have been newly whitelisted.

Please note that you will not be eligible for the Account Protection Programme (if applicable) while this feature is disabled.

To enable the 24-hour Withdrawal Lock:

1. Open the Crypto.com App and go to “Settings”

2. Click “24-hour Withdrawal Lock” under the “Security” tab

3. Toggle on the 24-Hour Withdrawal Lock

To disable the 24-hour Withdrawal Lock:

1. Open the Crypto.com App and go to “Settings”

2. Click “24-hour Withdrawal Lock” under the “Security” tab

3. Toggle off the 24-Hour Withdrawal Lock

4. Click “I want to disable” to confirm your decision

5. Enter your passcode or confirm using a biometric ID.

Important: Disabling the Lock will take effect in 24 hours.

Address whitelisting

To increase the security of your funds, we are requiring withdrawal address whitelisting every time you want to send crypto to a new address.

*Please note there will be a 24-hour withdrawal lock on the newly added withdrawal address if the feature is enabled.

*Please be advised that when the network you are using for withdrawing or the token is different, whitelisting is mandatory.

To whitelist a withdrawal address:

  1. Open the Crypto.com App and go to “Accounts”

  2. Open your Crypto Wallet

  3. Tap the TRANSFER button > “Withdraw” > “External Wallet

  4. Click on the “+ Add Wallet Address” button to add a new withdrawal address. If you already have one or more added, click the “+” in the upper right corner and tap “Wallet Address” to see the option appear.

  5. Select the cryptocurrency you wish to withdraw and the network you wish to use

  6. Type, paste or scan the withdrawal address (tap the blue QR code icon to scan the address)

  7. Give your wallet a name and hit CONTINUE

  8. Enter the mobile verification code

  9. You’ll be prompted to enter the 6-digit verification code generated by your authenticator app

  10. Enter the 2FA authentication code generated by your authenticator app

  11. Repeat the previous steps to save a whitelisted list of your withdrawal addresses

When entering the withdrawal address, remember to remove any whitespace before or after the string of characters, or any other text that is not a part of the address (sometimes when you scan a QR code, it will add something like “ethereum:” if you try saving it, you will get an error message “Invalid Address”).

Please see other sections for common issues associated with specific cryptos.

To make a withdrawal:

  1. Open the Crypto.com App and go to “Accounts”

  2. Open your Crypto Wallet

  3. Press the “Transfer” button

  4. Press “Withdrawal”

  5. Select “External wallet”

  6. Locate and select the whitelisted wallet address.

  7. Enter your passcode or confirm using biometric ID.

  8. Enter the 2FA authentication code generated by your authenticator app.

  9. Enter the mobile verification code.

  10. Enter the amount and press “Withdraw”

  11. Wait for the withdrawal to be processed.

How To Locate the Transaction ID (TxHash/TxID)?

1. Tap on the transaction in the respective Crypto Wallet or in the Transaction History

2. Tap on the ‘Withdraw to’ address hyperlink

3. You can either copy the TxHash or view the transaction in a Blockchain Explorer

Withdrawal request confirmation

Once your withdrawal address is confirmed, you will receive a withdrawal request confirmation email – that means we have acknowledged receiving your request and will process it as soon as we can (usually no later than on the following business day). You will receive a separate notification, once the request is processed.

Warning

If you receive an email for an action you did not request (address whitelisting or crypto withdrawal), please contact our Support immediately (for speed, use the in-app chat, if possible – you can find it in the Settings, section: Contact Support). Our Staff will help you to disable crypto transactions (if necessary), attempt to stop the withdrawal request, and change the passcode (we will need to verify your identity to do that).

As it is possible that your account has been compromised, you may want to change your Crypto.com login email at the same time (click on Profile, then tap the email address). You will need to have access to your current email address to complete this action.

Minimum & Maximum Limits

Minimum withdrawal amount: Please check the Fees & Limits section in the app’s Settings, for the most current info on the minimum withdrawal amounts and fees, as they vary between different cryptos.

The maximum withdrawal limit for all cryptos is BTC 10 (or equivalent) on a 24-hour rolling basis. 

Withdrawal Addresses

There are no known issues with sending ETH and ERC-20 tokens to external addresses, as long as the wallet or exchange you are sending your tokens to supports the token you’re transferring. If you’re not sure if the ERC-20 token is supported by your wallet, please check with its developers first. 

In case no support is provided, start with sending the minimum amount possible. Only if the transaction is successful, proceed with sending the whole amount. While it may be more costly, it is definitely much safer – do remember, that once a transaction is posted to the blockchain, we will not be able to stop or reverse it. 

Automated Withdrawals

In most cases, ETH and ERC-20 withdrawals normally should take no longer than two hours to be processed.

We’re excited to announce that Crypto.com App now supports deposits and withdrawals on the Avalanche’s Contract Chain (AVAX C-Chain).

What is AVAX C-Chain?

The AVAX C-Chain is the default smart contract blockchain on Avalanche, which enables the creation of any Ethereum-compatible smart contracts, especially for applications that require total ordering. This blockchain implements the Snowman consensus protocol, a chain-optimised protocol that is powered by the Avalanche consensus protocol, able to permanently confirm transactions in under 1 second, and capable of processing 4,500 transactions per second.

Crypto.com App users can now enjoy cheaper and near-instant transfers for AVAX, USDC*, and ETH via AVAX C-Chain. Look out for more to come.

Note:

*USDC deposits through AVAXC Network need to be made in USDC.e

High gas prices can turn off even the most seasoned crypto user. Whether you’re a crypto native or a newcomer, one of the most efficient ways to utilize your assets is to bridge it to a Layer 2 network that inherits the security guarantees of Layer 1 Ethereum. 

Why? Low transaction fees, higher throughput, and a better overall user experience. You may even get exposure to certain dapps that aren’t available on Mainnet. 

To begin our bridging series, we’d like to start with the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development: Polygon’s Proof of Stake network (previously Matic).

Solving The Scaling Trilemma

The blockchain trilemma refers to a widely held belief that decentralized networks can only provide two of three benefits at any given time with respect to decentralization, security, and scalability (Gemini).

Matic was started as a scaling solution to overcome these obstacles.

Ethereum’s gas fees are untenable for most users and Polygon serves as a solution for the novel crypto user to purchase NFTs, partake in DeFi, and immerse themselves in virtual worlds in an efficient, affordable manner. 

Read on to learn how to bridge your assets to the platform using their native bridge and interact with a dapp that will make your environmentally friendly senses tingle. 🌲

Sending Assets To Polygon

First, you’ll want to make sure you have your funds handy in your wallet. MetaMask is your portal into the Web3 world and you can use it directly in your browser extension.

Remember to practice good security with your seed phrase—store it safely, in multiple places, and NEVER give it to anyone.

After you’re done, you can make your way over to Polygon’s bridge and approve the transaction to log into their wallet. It will look like this:

Signing in polygon

Click “Sign” and you will be directed to their bridging portal to transfer your assets from Ethereum Mainnet to Polygon. 

polygon bridge portal

Simply select which tokens you want to send, and click “Transfer”. It should take about 7-8 minutes to deposit your funds.

polygon bridge transfer message

You will be prompted to sign and approve the transaction in your MetaMask wallet which is where the gas fee will also be quoted, and you will see a progress tab bar indicating when your transfer is complete.

Transfer in progress Polygon

Note that the Proof of Stake (PoS) bridge is secured by validators and will take approximately 3 hours when/if you want to move your funds back to Ethereum. 

Completed? Your funds are now on Polygon and you’ll be able to interact with a slew of dapps and tools.🕺🏽

polygon list of dapps

Check out the extensive list here.

Bridging Carbon Credits To Polygon

*this section originally appeared on James Beck’s article, How We Get To Negative Emissions With Web3

Web3 decentralizes financial primitives and protocols and makes it easier to collectively pool capital and increase liquidity. With smart contracts, rewards can be automated on-chain, in real time, which makes it easier to incentivize participation. Standardized, tradable carbon credits tokens increase liquidity, and because of open source software and the inherent composability of DeFi, projects can build upon other ideas and smart contracts.

One project that just began to standardize carbon credits as tokens is the Toucan Protocol, which built a “carbon bridge” to bring carbon credits to Polygon. Using the Toucan Protocol, anybody can tokenize their carbon offsets on the Verra registry and make them available to DeFi protocols. They plan on expanding to other carbon registries, like the Gold Standard in the future.

Users of the carbon bridge need to retire the carbon offsets in the “real world” before bringing them on-chain in order to guarantee that a carbon token is unique and that burning a token on-chain is equivalent to retiring an offset. Each of their Base Carbon Tonne (BCT) tokens is backed by 1 tonne of a retired CO2 credit.

toucan protocol

Since launch on October 18th, already 10.8 million tons of CO2 have traversed the carbon bridge from the Verra registry and deposited in the Carbon Pool, BCT (Base Carbon Tonne). Incredibly, this is about 12% of NYC’s annual CO2 emissions.

Polygonscan BCT token

What is driving this rapid retirement of carbon credits? One clue is that members of KlimaDAO are retiring Verra credits and turning it to BCT in order to start earning rewards in a separate DeFi protocol called KlimaDAO.

$KLIMA tokens are fungible and backed by at least 1 Verified Carbon Unit in the KlimaDAO treasury. People can acquire KLIMA by depositing liquidity tokens (KLIMA/BCT and BCT/USDC) to the treasury, or directly from SushiSwap trading pools using the Polygon network. Holders of KLIMA can earn compounding interest on their KLIMA by staking, will have the ability to vote on Klima DAO policy. Staking encourages long-term holding of KLIMA, and allows participants to benefit from the rising price of carbon.

KLIMA apphttps://dapp.klimadao.finance/

BCT Tokens On Polygon

Told you they’d be tingling.🌲 

If you want to harness the power of Web3 in climate servitude here’s how to get some BCT tokens on SushiSwap.

SushiSwap on Polygon

Once you’re on the Swap tab, make sure your network in the upper bar is selected to Polygon. If you’re on Mainnet, simply switch your network, and approve the transaction in MetaMask. 

You can then select which token you would like to swap and click “Approve Transaction”. In this case, we selected WETH. 

Approving SushiSwap transaction of WETH to BCT

You will have to approve the transaction fee on MetaMask (which will likely be close to $0), and “Confirm Swap” on SushiSwap for the final step:

And done! You pay a modest amount in gas fees and contribute to improving voluntary carbon markets. Feel free to continue perusing dapps on Polygon without high transaction costs barring the fun.

Final Thoughts

New users and natives alike don’t enjoy paying an arm and a leg in high gas fees, and as more and more dapps get deployed on Polygon, people may conduct most of their Web3 activity in this ecosystem. Polygon’s Proof of Stake network is more environmentally-friendly than Ethererum’s current Proof of Work chain (soon to change) and allows Ethereum activity to scale in an efficient way. Once your assets are bridged, you can choose to swap and stake tokens, play games, purchase NFTs, and foray more into Web3 with ease.

Written by Jane