To withdraw from your Anchor account to an outside wallet over the blockchain:
- Navigate to your Portfolio
- Tap on the balance for the currency that you wish to withdraw
- Tap the button for "Deposit/Send" in the top right corner and chose "Send"
- Choose "Send."
You will be prompted to provide and verify a withdrawal address, which should be the wallet address of your destination. The processing time for cryptocurrency withdrawals varies by currency, but most withdrawals are processed in under 1 hour.
When to include a Memo/ Destination Tag:
Certain Coins require a Memo/Destination Tag when initiating a blockchain withdrawal. Coins like Stellar (XLM), Ripple (XRP), EOS, Cosmos (ATOM), Binance Coin (BNB), and Hedera Hashgraph (HBAR) require a memo or destination tag, especially when sending to a centralized exchange.
Memos are necessary for these coins because exchanges use a single address for many users and need the memo to identify which account to credit the funds to. Without the correct memo, the funds could be lost.