How To Withdraw $CATS From Bitget: A Complete Guide
The CATS Telegram game has become a popular play-to-earn (P2E) experience where users can engage in virtual hamster battles, complete challenges, and earn $CATS tokens. These tokens are soon to be listed on exchanges like Bitget, making it crucial for players and traders alike to understand how to withdraw them once they become available. Although $CATS is set to be listed on Bitget in late September 2024, this guide will walk you through how to securely withdraw your tokens after listing. We will also explain how to convert $CATS to major cryptocurrencies for easier withdrawal and provide expert advice for smooth transactions.
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How to withdraw $CATS from Bitget: step-by step guide
Step 1: Log in to your Bitget account
To start, log in to your Bitget account using your credentials. Make sure you have Two-Factor Authentication (2FA) enabled for added security, as this helps protect your account and transactions from unauthorized access. Once logged in, you’ll be ready to manage your $CATS holdings after the listing.
Step 2: Converting $CATS to a major cryptocurrency
As $CATS may not be directly withdrawable in its native form, you’ll need to first convert it into a widely accepted cryptocurrency like USDT, BTC, or ETH.
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Go to the spot trading section
Navigate to the “Trade” tab on the Bitget homepage and select “Spot”. This will take you to the trading interface where you can exchange your $CATS tokens. -
Choose the trading pair
In the search bar, type “$CATS” and choose the appropriate trading pair based on the cryptocurrency you want to convert your tokens to (e.g., CATS/USDT, CATS/BTC). -
Execute the trade
To sell your $CATS tokens, you have two options:-
Market order: If you want to sell $CATS at the current market price, choose the “Market” option. Input the amount of $CATS you want to convert and click “Sell $CATS” to finalize the transaction.
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Limit order: Alternatively, if you want to sell your $CATS at a specific price, set a “Limit” order. Your trade will execute once the market reaches your desired price.
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Confirm the conversion
After the trade is completed, go to the “Wallet” section under “Overview” to view your newly converted cryptocurrency. You’re now ready to proceed with the withdrawal process.
Step 3: Withdrawing the converted cryptocurrency
Now that you’ve converted your $CATS into a major cryptocurrency like USDT or BTC, you can proceed with the withdrawal.
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Navigate to the withdrawal page
Head to the “Wallet” section of your Bitget account and click on “Withdraw”. Select the cryptocurrency you converted (e.g., USDT, BTC) from the list of available options.
How to withdraw $CATS from Bitget, Source: bitget.com
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Enter withdrawal details
For withdrawals to an external wallet, select the "On-chain" method. It’s important to select the right blockchain network (e.g., ERC20) that matches the receiving wallet’s supported network. Selecting the wrong network can result in the permanent loss of funds, so double-check this carefully.
How to withdraw $CATS from Bitget, Source: bitget.com
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Enter the recipient address and amount
Input the wallet address where you want to send your cryptocurrency. Always double-check the address for accuracy to avoid mistakes. Enter the amount you want to withdraw and confirm. -
Complete security verification
Bitget will prompt you to complete Two-Factor Authentication (2FA) and email and email to ensure the security of your transaction. Enter the 2FA code from your Google Authenticator app and confirm the transaction via email if necessary. -
Confirm the withdrawal
Before finalizing the withdrawal, review all the transaction details, including the wallet address and the network. Once everything is confirmed, Bitget will begin processing your withdrawal. Depending on the network congestion, this process could take anywhere from a few minutes to an hour.
Step 4: Monitor the transaction status
After confirming the withdrawal, you can monitor its progress by visiting the “Withdrawal records” section within your wallet. This will show the current status of your withdrawal.
How to withdraw $CATS from Bitget, Source: bitget.com
In case of further delays, you can contact Bitget Support for assistance.
Withdrawal limits and fees for $CATS on Bitget
Daily withdrawal limits
Bitget imposes daily withdrawal limits that vary depending on whether you’ve completed KYC (Know Your Customer) verification. Without KYC, you’ll likely have a lower withdrawal limit, while completing KYC Level 1 or Level 2 will allow you to withdraw large amounts.
Fees
Withdrawal fees are charged depending on the blockchain network you choose. For instance, withdrawing on the ERC20 network may incur higher fees due to congestion, while using a network like TRC20 may offer lower fees.
Processing time
Withdrawals are generally processed within minutes, but network congestion can cause delays. You can expect the withdrawal to take anywhere between a few minutes to an hour.
Pros and cons of withdrawing $CATS from Bitget
👍 Pros
• Quick processing times: Withdrawals are generally fast, especially during off-peak times.
• Multiple network options: Bitget supports various blockchain networks, giving you flexibility in terms of fees and speed.
• High security: Bitget’s 2FA and email verification process ensures secure transactions.
👎 Cons
• Higher fees on some networks: ERC20 transactions can incur higher fees, especially during periods of high network traffic.
• Lower limits for non-KYC users: Without completing KYC, your withdrawal limits may be restricted, limiting the amount of cryptocurrencies you can withdraw daily.
Double-check your wallet address and the network
As a seasoned trader, my advice is to always double-check your wallet address and the network before confirming a withdrawal. A small error in either can result in the permanent loss of your funds. Also, it’s wise to withdraw during off-peak hours to avoid delays and higher fees due to network congestion.
If you plan to hold $CATS for the long term, consider transferring your tokens to a cold wallet for maximum security. Cold wallets are not connected to the internet, offering protection from hacks and other security threats.
Finally, keep an eye on the withdrawal limits and fees. As $CATS becomes more popular, these limits and fees may fluctuate, so it’s essential to stay informed.
Conclusion
With $CATS set to be listed on Bitget in late September 2024, understanding how to withdraw your tokens is crucial for both players of the CATS Telegram Game and investors. By following the steps outlined in this guide, you’ll be well-prepared to convert and withdraw your $CATS tokens securely and efficiently once they become available for trading.
FAQs
How long does it take to withdraw $CATS from Bitget?
Withdrawal times vary depending on the blockchain network's speed and current traffic. Typically, withdrawals are processed within a few minutes to an hour but may take longer during peak times.
What should I do if my $CATS withdrawal from Bitget is delayed?
If your withdrawal is delayed, first check the blockchain status for confirmation. If it's pending for an extended period, contact Bitget customer support for assistance with your transaction ID.
Can I cancel a $CATS withdrawal from Bitget once it’s initiated?
Once a withdrawal request is confirmed and submitted, it cannot be canceled. Ensure all details are correct before finalizing the transaction.
Do I need to complete KYC to withdraw $CATS from Bitget?
Yes, for higher withdrawal limits and security, completing KYC (Know Your Customer) verification on Bitget is recommended. This may be required depending on your withdrawal amount or account activity.
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Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Also, Oleg became a member of the National Union of Journalists of Ukraine (membership card No. 4575, international certificate UKR4494).
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).