After each purchase, your Bitcoin is held at a licensed and regulated trust company in your name, with you as the sole legal owner, until you are ready to withdraw to self-custody. You are not required to withdraw your Bitcoin to your own wallet, but we do highly recommend learning how to use a Bitcoin wallet and withdrawing your coins for maximum security. If you're not comfortable setting up a wallet, take your time and do your research on wallets.
Depending on whether you purchased via ACH or via Wire, your Bitcoin will be available for withdrawal between 1-30 days. Please read our article about unlocking for more detail.
- In order to withdraw your Bitcoin from Swan, you must set up two-factor authentication on your account. Read here for a guide for setting up two-factor authentication.
- Start the process by clicking the "Withdraw Now" button at the bottom of your dashboard. If you are new to Bitcoin wallets and withdrawals, we recommend doing a smaller test withdrawal so that you get comfortable with how the process works. You may withdraw from Swan to any standard Bitcoin public address type. Your addresses can begin with a "1", a "3", or Native SegWit addresses that start with "bc1."
- You must first create a new wallet. Once you've submitted your new wallet address, you will need to confirm it with your 6-digit two-factor authentication code.
- Once your wallet is added to your account you can initiate a withdrawal.
Autowithdrawals: Please see our help article here.
As a reminder, Bitcoin withdrawals do not send funds back to your bank or allow you to convert them into USD. Instead, they send your Bitcoin to a Bitcoin wallet. If you are interested in selling your Bitcoin on Swan back for dollars, please contact us instead.