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Your Comprehensive Guide to Payouts via Cryptocurrency
Your Comprehensive Guide to Payouts via Cryptocurrency

Diving Deeper: Unpacking Crypto Fees, Request Procedures, and Compatible Payout Currencies

Updated over a week ago

Overview

  • At The Funded Trader, we are excited to announce that we offer cryptocurrency as a payout method, providing our valued customers with a variety of options for payouts.

  • Crypto payouts are open for all eligible countries without any maximum limit and are exclusively available in ETH, USDC, and USDT via the ERC-20 network, or BTC via the BTC network. It's crucial to note that if you request a payout via a different network, TFT will be unable to deliver the funds to your intended wallet and they may be lost and unrecoverable.

  • Additionally, a minimum withdrawal request of $25 is required for all crypto withdrawals, ensuring a streamlined and secure transaction process. There is no payout limit on crypto payout requests.

  • For more information on how we process payouts, along with timelines please visit our help center article here.


Associated Fees with Crypto Payouts

At The Funded Trader, we strive to provide transparent information about the fees associated with crypto payouts to ensure our users have a clear understanding of the entire process. There are three main fee components that customers requesting payouts via crypto should be aware of:

  1. Conversion Fee from USDC to Desired Withdrawal Currency: When converting your crypto holdings from USDC to your desired withdrawal currency, a conversion fee may apply as per your exchange. This fee is influenced by market conditions and is subject to change. Note: This conversion fee is not controlled by The Funded Trader, but by the exchange.

  2. Blockchain Network Fees: Cryptocurrency transactions on blockchain networks involve network fees to facilitate secure and timely transactions. These fees are dynamic and depend on network congestion. Users should be aware that blockchain fees may vary, and they are not controlled by The Funded Trader.

  3. Platform Withdrawal Fees: The crypto exchange you are utilizing may charge a withdrawal fee for processing and managing the withdrawal request. This fee is to cover operational costs associated with ensuring a smooth and secure withdrawal process. Note: This withdrawal fee is not controlled by The Funded Trader, but by the exchange.


Steps to request your Crypto payout:

  1. Select your simulated account to request your payout via the Profit Share page on the Trade Hub.

  2. Enter the amount you wish to withdraw.

  3. Select the Cryptocurrency of your choice under the payment method.

  4. Enter your crypto wallet address in the respective fields.

  5. Click on Generate Passcode (This would send a passcode to your registered email)

  6. Click on Submit.


Crypto Country Restrictions

The Funded Trader offers crypto as a payment method for traders from all countries, minus those listed under Banned Countries on the Countries with Limitations for Affiliates and Payouts FAQ article.


Prohibited Sharing of Wallet Addresses

  • Sharing crypto wallet addresses between other users within the firm is strictly prohibited, as this can present an Anti-Money Laundering (AML) concern.

  • If it is found that you are engaging in any kind of malicious activity or sharing wallet addresses as it goes against our policies - your account will be subject to investigations and/or banned from our platform.

  • A successful cryptocurrency payout necessitates individual wallets assigned to each customer.

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