Crypto purses completely defeat any banking sector services due to the complete control by investors. No legal restrictions and procedures for using digital assets on your balance. Today we will tell you how to send your savings From Crypto.Com to a Defi Wallet.
So, if you are reading this article, then you most likely understand the decentralized wallet from the Crypto.com crypto exchange. So what is crypto.com Defi wallet? It is a classic example of an independent wallet. Only its owner has the keys, passwords, and other entry mechanics. However, an essential difference between this purse is its decentralization. What does it mean? The user can use the application without having an account page on the Crypto.com crypto exchange. The client simply owns digital coins in decentralized storage.
However, you need to understand that DeFi, although a completely independent structure of the cryptocurrency market, is very dependent on fees. Therefore, be prepared to part with some of your coins to pay for the movement of your funds. However, other payments related to CEX customers are not made.
In addition, the application acts as a kind of bank that has a “guide” for finding keys to enter. This approach allows for decentralized wealth management, but also helps the company ensure the safety of users’ capital.
Now that you’ve convinced yourself that a Crypto.com DeFi wallet is the right thing, let’s find out how the Crypto.com DeFi swap works.
Steps to Transfer Cryptocurrency from Crypto.com DeFi Wallet to Crypto.com App
Step 1: Selecting the desired coin in your Crypto.com DeFi purse to send
Step 2: Click “Crypto.com Application” on the shipping address page.
Pay attention that you will not be allowed to send assets that are not funded in your Crypto.com app account; this way the submit button will be disabled for unsupported cryptos.
Step 3: Finally, the Crypto.com application address for the corresponding token will be generated automatically, and if there is a message instruction for the corresponding token, it will also be generated.
How to transfer cryptocurrency from the Crypto.com app to the Crypto.com DeFi wallet?
Step 1.1: Go to “Settings”, and select “Crypto.com Wallet”. then click “Send Funds” on the page shown.
Step 1.2: Go to Transfer, click on Withdraw Cryptocurrency, and then click on the Crypto.com DeFi purse button.
Step 2: Click the “Withdraw” button
Remember that there will be a fee for withdrawals. In the “Settings” of the Crypto.com “Fees and Limits” application, the corresponding fee for each crypto asset is displayed.
Step 3: For a section, you can withdraw cryptocurrency without an external address while in the category – your cryptocurrency withdrawal is carried out to an external address.
When you have completed all these steps, you can return to your decentralized purse to check the receipt of the cherished crypto coins. The transfer of digital coins does not take much time, so 10-15 minutes after the transaction you can see the result.
If you have imported the same purse using the recovery phrase on more than one device, you will be allowed to connect another wallet to your app account, but this will result in Crypto.com from your first purse.
Hooray! Everything worked out. You have transferred the required amount of crypto to a decentralized purse with a minimum commission. However, keep in mind that this method only works if you already have crypto.com accounts created, as well as a certain amount of digital assets that you want to move. Now your money is completely safe in a decentralized app.