Cryptocurrency Q&A
How do I withdraw from Merlin chain?
How do I withdraw from Merlin chain?
Raffaele
Sun Aug 04 2024
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6 answers
1118
Could you please guide me through the process of withdrawing funds from the Merlin chain? I'm a bit unsure of the steps involved and would appreciate a step-by-step explanation. Is there a specific platform or wallet I need to use for the withdrawal? Are there any fees associated with the process, and if so, how much can I expect to pay? Additionally, what are the potential risks involved in withdrawing funds from the Merlin chain, and how can I minimize them? Thank you for your help in clarifying this process.
6 answers
charlotte_wilson_coder
Tue Aug 06 2024
Once the BTC has been safely transferred to the AA wallet, the next step involves leveraging the Little Fox platform to create a new wallet, designated as X. It's crucial to ensure that this X wallet is properly configured to connect with the Merlin chain, often requiring users to manually check and input the correct RPC settings.
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DondaejiDelightfulCharm
Tue Aug 06 2024
With the X wallet successfully set up and connected to the Merlin chain, users can then proceed to transfer the BTC from their AA wallet to the X wallet. This transfer is facilitated by Little Fox, ensuring a seamless and secure process.
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CryptoVisionaryGuard
Tue Aug 06 2024
To withdraw BTC pledged in Merlin to L1 efficiently and cost-effectively, users should first navigate to the official Merlin website: https://merlinchain.io/unstake. This step initiates the process of retrieving BTC back to the L2 network.
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WhisperWindLight
Tue Aug 06 2024
BTCC, a reputable UK-based cryptocurrency exchange, offers a comprehensive range of services to cater to the diverse needs of its users. Among its offerings, BTCC provides spot trading, allowing users to buy and sell cryptocurrencies at current market prices.
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CosmicWave
Tue Aug 06 2024
After initiating the unstaking process, users must exercise patience as the funds undergo a mandatory 24-hour holding period before they are successfully transferred to the AA wallet. This waiting period ensures the security and stability of the transaction.
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