Crypto 101 Daily

Once you understand “not your keys, not your coins,” the natural next step is moving some crypto off an exchange and into a wallet you control. It’s a straightforward process — but because crypto transfers are irreversible, a few checks make all the difference. Here’s a careful, plain-language walkthrough.

Why people do this

When your crypto sits on an exchange, the exchange holds the keys — you’re trusting them. Moving it to a self-custody wallet means you hold the keys and control the funds directly. That’s a real benefit for holdings you want full control over, with the trade-off that you become fully responsible for security. This guide assumes you’ve already set up a wallet and safely backed up its seed phrase.

Step 1: Get your wallet’s receiving address

In your wallet, choose the coin you want to receive and find its “receive” option. It will show a long public address (and usually a QR code). This address is safe to share — it’s how crypto comes to you. Make sure you’re viewing the address for the correct coin, because addresses differ between coins and networks.

Step 2: Match the network — this is critical

This is the step that catches beginners out. Many coins can travel over different “networks,” and the network you pick on the exchange must match what your wallet expects for that address. Sending over the wrong network is one of the most common ways people lose funds. Confirm the coin and network line up on both sides — the exchange’s withdrawal screen and your wallet — before going further. If you’re unsure, that uncertainty is your signal to stop and double-check, not to guess.

Step 3: Start the withdrawal on the exchange

On the exchange, go to withdraw/send for that coin, and paste your wallet’s receiving address. Always copy and paste (or scan the QR code) rather than typing the address by hand — but then verify it, because clipboard-hijacking malware can swap a pasted address. Check the first and last several characters of the address match what your wallet shows. The exchange will also show a withdrawal fee; that’s normal.

Step 4: Send a small test amount first

Before moving a large amount, send a small test transaction. Wait for it to arrive and confirm it shows up correctly in your wallet. This single habit protects you from address or network mistakes on the full amount — a few cents in fees is cheap insurance against an irreversible error. Only once the test arrives safely should you send the rest.

Step 5: Complete the transfer and confirm

Send the remaining amount the same way. Transfers can take anywhere from seconds to a while depending on the coin and network congestion, and you may need to complete the exchange’s security checks (like 2FA confirmation). Once it arrives in your wallet, you’re holding your own keys. You can verify the transaction went through using a block explorer if you like.

A few safety reminders

Double-check coin and network match; always verify the pasted address; never rush; and remember the transfer can’t be undone once sent. If anything feels off — an unexpected address, a network you don’t recognise — stop and re-check. Careful beats fast every time with crypto. This is education, not financial advice.

Key takeaways

To move crypto from an exchange to your own wallet: get your wallet’s receiving address for the right coin, make sure the coin and network match on both sides, paste (don’t type) the address and verify it, send a small test amount first, then send the rest once it arrives. Transfers are irreversible, so checking the network and address is everything. This is education, not financial advice.

New here? This pairs with how to send crypto safely and the meaning of “not your keys, not your coins.” Set up your destination first with how to set up a wallet.