TABLE OF CONTENTS
- What's a Wallet?
- How do I Fund my CoinList Wallet?
- Can I Fund my Wallet or Investments Using my Online Exchange Wallet?
- How Do I Initiate a Withdrawal?
- Are There Deposit and Withdrawal Fees?
- Are There Fees for Storing Assets in CoinList Wallets?
- Are my Funds Secure in CoinList Wallets?
What's a Wallet?
In general, a wallet is a program that enables users to send and receive digital currency and track their balances and transactions. They also store important security information: your public and private keys. There are several types of wallets: Hardware, Software, and Online. Hardware wallets store a user's private keys on a hardware device like a USB. Trezor and Ledger are popular hardware wallet brands. Software wallets run as an app on your phone or desktop. Online wallets run in the cloud and are accessible from any computer or smartphone in any location.
- CoinList offers online wallets.
- We also use the term "wallet" to describe your U.S. dollar account.
How do I Fund my CoinList Wallet?
- U.S. residents may deposit USD via ACH or wire. Simply click “deposit” from inside your USD wallet. In order to deposit via ACH you will have to link your bank account with Plaid.
- U.S. and foreign residents may deposit USD via wire. Simply click deposit from inside your USD wallet.
- U.S. and foreign residents may deposit via crypto. Simply click deposit from inside the appropriate crypto wallet.
Can I Fund my Wallet or Investments Using my Online Exchange Wallet?
Yes. For withdrawals, you should re-confirm the withdrawal address on both your 3rd party exchange wallet and CoinList prior to submitting a withdrawal. Exchanges have various policies for crypto deposits, and the sending addresses don't always match the receiving addresses. We recommend you designate a return address for which you hold the private keys. CoinList is not responsible for transfers being appropriately credited to your account at a 3rd party exchange.
How Do I Initiate a Withdrawal?
You can withdraw any supported currency/asset out of CoinList to a wallet of your choice. There are no transaction fees when moving funds from your CoinList Pro wallet to your CoinList wallet.
- Visit https://trade.coinlist.co/settings/transfers
- Select the amount you’d like to withdraw and withdraw that amount to your CoinList wallet
- Visit the corresponding wallet on https://coinlist.co/
- Click “withdraw” and follow the instructions to execute the transaction
- For USD, you will be able to send an outbound ACH transfer or Wire transfer
- For crypto, you will be able to send an outbound transfer to a wallet of your choosing
Are There Deposit and Withdrawal Fees?
Other than as set forth below, CoinList does not charge fees associated with withdrawing or depositing crypto. However, the applicable network may charge transfer fees, which are not paid to CoinList or the custodian.
- CoinList Markets does not charge for ACH transfers or crypto transfers.
- CoinList charges $10 per outgoing U.S. wire and $30 per outgoing foreign wire.
- CoinList does not charge for incoming wires.
Are There Fees for Storing Assets in CoinList Wallets?
No, there are no fees for using CoinList wallets to store your crypto. If you make a crypto withdrawal, you will need to pay the applicable network fees which are not paid to CoinList or our custodian partners.
Are my Funds Secure in CoinList Wallets?
Funds held in cold storage are covered under the insurance policies of our custodian partners. Please note, not all funds are held in cold storage at all times.