If you would like to withdraw ethereum tokens such as ETH from your Gatecoin account to an external wallet address, please follow the steps below:
1. Click on "Withdraw"
2. Choose your ethereum token
3. Add your external ethereum address.
Insert your wallet label (eg: My external address) and your wallet address to receive the ethereum tokens, then insert your password and save your address
4. Confirm the transaction amount and wallet address. The click 'send'.
Please make sure the external ethereum address is not a contract address since we do not support contract addresses at the moment.
As a result, you may run out of "gas". If this happens, please send an email to firstname.lastname@example.org and we will credit back your funds.
5. Your ethereum token transfer will be credited to your external address after 50 confirmations on the ethereum network, which usually takes around 10 minutes.
In most cases ethereum token withdrawals from Gatecoin are processed immediately.
As we only maintain a minimum amount of our ETH in a "hot wallet" (enabling immediate processing) and store most of your ethereum tokens in a multi-signature cold storage wallet, please be aware that there may be a delay in processing larger withdrawal requests.
We use a multi-signature cold storage wallet in order to better protect your assets, as it requires at least three Gatecoin employees to authorize the requested ethereum transaction before it is submitted to the blockchain.
Typically we expect this process to take between one hour during regular Hong Kong office hours (9.30am to 6.30pm HKT, Mon-Fri) and 6 hours during non-office hours (Weekends & HK Public Holidays).
Please, read more about what is "confirmations" in this article