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      How do I withdraw assets from Hex Safe?

      How to withdraw assets

      Digital Asset Withdrawals

      There are 2 stages in the process of completing a withdrawal

      1. Initiation
      2. Approval

      Step one, two, and four are common to both Safe Vaults and Safe Plus Vaults.
      Only the first two steps involve you as a user, as Hex Trust, your trusted custodian, takes care of the rest. 

      Initiating Token withdrawals

      A withdrawal request can only be initiated by a Hex Safe  user with an Initiator User Role.

      Initiating a withdrawal on Hex Safe  does not vary based on your specific wallet type.

       

      Steps to a withdraw a digital asset:

       

      Initiation

      1. Click "Withdraw" on the Navigation Bar on the Dashboard.

      2. Select "Tokens" and choose the token you wish to withdraw. For a complete list of  supported Tokens visit here.

      3. Select the Network for the transaction

        Be careful with choosing the token network: Ensure the token is being sent on a blockchain network supported by the receiver and the accompanying account address used to receive the token. If tokens are withdrawn using the wrong network, there is a chance that the funds will not reach the recipient. Read more here.

      4. Select the Hex Safe Vault from which you will withdraw the token and click "Continue."

      5. Select or Input the Recipient’s Wallet Address.

        1. If you wish to withdraw to an address from your Address Book or to an internal Vault, you select an address from the drop down list.

           

        2. Or you can just input the address in the Address Field.

           

           
      6. Input the amount of tokens. 
      7. Set a Network Fee for the withdrawal. You can choose from the predetermined network fees based on our calculations: slow, average or fast transaction speed depending on the urgency of your withdrawal. 
        Note: Network Fees are dynamic and always changing depending on how congested the blockchain network is. You can also manually set a Network Fee based on your personal preference.

        1. For Ethereum Virtual Machine Chains (i.e. Ethereum, Polygon, etc.), this consists of setting the Max Base Fee (GWEI), Priority Fee (GWEI), and Gas Limit.

        2. For Bitcoin and UTXO-based blockchains, this fee consists of Sat/Byte.


          Optional: You can provide a Note for internal reference purposes.
      8. You will then see the total amount of tokens including the network fee which will be withdrawn from your Hex Safe  Account.
      9. Click "Withdraw" to review the withdrawal.
      10. Once reviewed, click "Confirm Withdrawal."
      11. Before the Withdrawal is Initiated, you will need to confirm the Initiation as a two-factor authentication security measure. To do so, open your Hex Safe Mobile App and ensure you are logged in.
      12. On the Hex Safe Mobile App, you will see a withdrawal transaction which you will need to confirm that you initiated. Please ensure that you have reviewed the transaction prior to making a decision. Click "Confirm" / "Approve" and your withdrawal transaction has been initiated.

      Approving Withdrawals on Hex Safe Mobile APP

      Withdrawal transactions would require Approvals in two scenarios:

      • Vaults configured as Safe Vaults with an approval scheme via the Hex Safe Mobile APP.
      • Vaults configured as Safe Plus Vaults.

      A withdrawal request can only be approved by a Hex Safe user with an Approver User Role.

      Approving a withdrawal on Hex Safe does not vary depending on your specific wallet type.

      1. As an Approver, open your Hex Safe Mobile App and ensure you are logged in.
      2. You will see the pending withdrawal transactions that you will need to Approve or Reject.
      3. Depending on your choice, the withdrawal transaction will either be Approved or Rejected.

      Safe Plus Vault Withdrawal Release by Hex Safe

      The manual release is done by Hex Trust members and can only be set on Safe Plus Vault(s).

      When setting up your Enterprise, you can opt for verification calls to be mandatory anytime a request for a Safe Plus Vault withdrawal is made.

      If you’ve opted-in, assigned individuals will be required to schedule and participate in a Verification Call. This call will be conducted by a member of the Hex Trust Client Operations team. In the confirmation of the verification call scheduling email, the assigned individuals will receive a verification code which they would need to reference during the call to verify their identity.