How to buy/sell and withdraw IOTA from Bitfinex - Full step by step guide

Today, i will show you step by step, how to buy/sell and withdraw Iota from Bitfinex to your desktop wallet.

Step 1:

Open your IOTA desktop wallet (light or full). Simply go to the recieve section and generate a new address by attaching to the tangle. After it attaches, right-click the address and copy it. You will need it later to recieve your funds from Bitfinex.

Step 2:

Login to Bitfinex. If you are completely new, simply create an account. This does not take very long, as the full verification process can be skipped, if you use cryptocurrency instead of fiat to purchase Iota. Below you see the different trading pairs that are available USD/IOTA, BTC/IOTA, ETH/IOTA.

Step 3:

The order book in the bottom of the screen shows you all the buy (green) and sell (red) orders that have been placed recently. Starting with the latest orders on top. Simply look at the price you wish to purchase Iota for, then head to the top left upper corner and place your buy. Note: IOTA is traded in Miota (1.000.000 million tokens)

Step 4:

Congratulations you now have IOTA tokens. Now lets send them to your lightwallet, so you actually fully own them. Go to your exchange wallet on Bitfinex and click on withdraw. Select Iota from the different options. You should then see the following:

Step 5:

Simply paste your recieving address that we copied at the start into the address field. Now type in the amout that you wish to withdraw. Righ-click the balance on the right will auto-select the entire balance that you have in the exchange wallet.
Accept the terms and conditions and hit withdraw.

Step 6:

To finish the withdraw process, you have to approve it via e-mail. After approval, you will be redirect to the Bitfinex platform.

Your withdraw now shows "Processing", which means it is queued on Bitfinex to be sent. This may take up to 12 hours, until it is actually sent.

When your withdraw status changes to "Completed" on Bitfinex, it means the transaction has been sent. Bitfinex now also shows a transaction ID on the withdrawals page, which can be used to track the transaction state in the tangle explorer. The transaction shows up in the wallet as "Pending".

Step 7:

In case the transaction stays "Pending" although it is shown as "Completed" on Bitfinex, it may help to press the "Reattach" button in your wallet. This button will shown after clicking on "Show Bundle" right next to the pending status.

The transaction gets confirmed by the tangle. Tangle explorer will now show "Confirmed: true", in the wallet it switches from "Pending" to "Confirmed" and your balance is updated.

I hope this guide was usefull to you. Make sure to leave an upvote/resteem and follow me for more guides, articles and Iota news daily:)

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