FAQ: Transfers

Can I transfer my crypto assets to external wallets?

If this option is offered by the partner platform, Tangany can transfer crypto assets to external wallet addresses upon user request. Transfers do not trigger any purchase or sale transactions.

To which wallet addresses can I transfer my crypto assets?

You can transfer your crypto holdings to both private wallet addresses (e.g., Ledger) and external wallet addresses on trading platforms. This flexibility allows you to manage your crypto assets according to your individual needs. Tangany accepts no liability for transactions to incorrectly specified wallet addresses or networks.

Please note that Tangany is required, under due diligence obligations, to verify the wallet addresses you provide to ensure compliance with legal regulations and the security of your transactions. If a high risk is identified, Tangany reserves the right to deny the transfer to the specified wallet address.

In the near future, due to new legal regulations, transfers will only be possible to private wallet addresses.

How long does it take to process a transfer request?

The careful processing of your requests and the security of your crypto assets are our top priorities. We take the necessary time to review all processes thoroughly to ensure they meet current regulations and the highest security standards. Additionally, processing your request depends on information and approval from our partner platform. Currently, processing takes an average of ten business days.

What fees apply to transfers?

The applicable fees are outlined in our General Terms and Conditions (GTC). Please refer to the relevant sections of the GTC provided during your registration with our partner platform.

The network fees for the underlying blockchain networks are deducted directly from the transferred amount. These fees fluctuate over time and cannot be determined in advance. Tangany has no control over the amount of these network fees.

Can my crypto assets also be transferred internally by Tangany?

Direct transfers of crypto assets to another customer account with the same provider are not possible. Please contact your provider for such requests.

Where can I find the required wallet address?

To transfer your crypto holdings, you need to provide the correct external wallet address. Log in to your account on the receiving platform and navigate to the “Deposits” section (or a similar term). Select the relevant cryptocurrency and network to view the associated wallet address.

If you wish to transfer to a private wallet address, the process is similar. Log in to your wallet interface, go to the “Receive” section (or a similar term), and obtain a wallet address to provide for the transfer.

Why is a memo/destination tag required?

For certain cryptocurrencies (currently EOS, HBAR, XLM, and XRP), a memo or destination tag is mandatory when transferring.

When sending crypto assets to an external wallet address (e.g., trading platform), the memo or destination tag serves as a unique identifier to ensure your transfer is correctly assigned to the intended wallet. Without this information, there is a risk that your assets may be lost or improperly assigned.

Can Tangany transfer only the total balance or partial amounts as well?

For each cryptocurrency, only the total balance can be transferred. It does not matter whether your balance was acquired through a single or multiple transactions.

Can Tangany perform test transactions?

Tangany does not perform test transactions. Please ensure that all your information is complete and accurate before initiating a transfer.

Can Tangany reverse a crypto position transfer?

Once the transfer order has been processed, and the balance has been debited from the partner platform or the blockchain transaction has been completed, it cannot be canceled or reversed. We strongly recommend submitting transfer orders carefully and thoughtfully.

Why does Tangany require address verification from the receiving trading platform?

Tangany may occasionally request official address verification from the receiving trading platform to prevent fraud. A screenshot is not sufficient as it can easily be manipulated.