How to Withdraw from CoinZoom

Withdrawing funds from CoinZoom is similar to depositing funds: you can send your cryptocurrency to a domestic exchange or use an international wire transfer.
We will also provide detailed instructions for withdrawing cash using the CoinZoom Visa Debit Card.

The CoinZoom Card offers the convenience of withdrawing cash in your local currency from ATMs displaying the Visa logo worldwide.
In Korea, you can also withdraw KRW from any ATM displaying the Visa logo.

How to Withdraw from an ATM with a CoinZoom Debit Card (Step-by-Step Guide)

Step 1: Set up a 'Spending Wallet' in the CoinZoom App

Before withdrawing cash from an ATM or making a purchase at a store, you must first configure the asset you wish to use in the CoinZoom app.

Launch and Log in to the CoinZoom App: First, open the CoinZoom app and log in.

Go to the 'Card' tab: Select the 'Card' tab from the bottom menu of the app.

Select 'Spending Wallet': Your currently set spending wallet will appear at the top of the card screen. Tap this to select the cryptocurrency or USD you wish to use for payment.

Withdrawing in USD: This is the simplest method. Select the USD balance in your CoinZoom account, and the USD will be converted to Korean Won (KRW) at the real-time exchange rate when withdrawing from the ATM.

Withdrawing in Cryptocurrency: You can also select your own cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH). When withdrawing cash from the ATM, the cryptocurrency will be converted to USD at the real-time exchange rate, then converted back to Korean Won (KRW) and withdrawn. (Note: A cryptocurrency-to-USD conversion fee may apply during this process.)

Step 2: Withdrawing Cash from an ATM

Find a Nearby ATM: Look for a nearby bank ATM or convenience store ATM with the Visa logo. Most domestic bank ATMs (Shinhan, Kookmin, Woori, Hana, etc.) support the Visa network.

Insert the card and enter the PIN: The last four digits of your initial phone number.

Insert the physical CoinZoom card into the ATM.

Enter the four-digit PIN you set when applying for the card or confirmed through the app.

Select the "Foreign Card" or "Foreign Card" menu: On the ATM screen, select the "Deposit/Withdrawal" menu, then select "Foreign Card" or a similar menu.

Enter the withdrawal amount: Enter the desired KRW amount to withdraw.

Withdrawal Complete: Once the transaction is approved, the cash will be withdrawn from the ATM and the withdrawal amount will be immediately deducted from your CoinZoom account (USD or selected cryptocurrency).

Withdrawal Fees and Limits
When withdrawing cash from an ATM with your CoinZoom card, be sure to check the fees and limits. These vary depending on your CoinZoom account tier (VIP level).

ATM Withdrawal Fees:

CoinZoom may not charge its own fees for international ATM withdrawals, but these may vary depending on your account tier.

Important: ATM usage fees (approximately ₩3,000 to ₩5,000) charged by the local bank operating the ATM (e.g., Shinhan Bank, Woori Bank) may apply separately.

Furthermore, fees charged by international brand networks such as Visa (typically 1-1.1% of the withdrawal amount) may be included.

ATM Withdrawal Limits:

Withdrawal limits vary significantly depending on your account tier. For example,

Non-Prime: Daily cash withdrawal limit $200

Gold: Daily cash withdrawal limit $500

Black: Daily cash withdrawal limit $2,000

For accurate and up-to-date limits, check the "Fees and Limits" page on the CoinZoom website or your card information in the app.

Key Tip!
Save on Fees: ATM withdrawals can incur multiple fees, so it's better to withdraw the necessary amount in one go rather than making multiple smaller withdrawals.

Checking the Exchange Rate: The exchange rate applied upon withdrawal is based on the real-time exchange rate provided by the Visa network.

If you have lost your PIN, you can check or reset your PIN in the Card Settings within the CoinZoom app.

Method 1: Withdrawing Cryptocurrency (Highly Recommended)

This method involves sending your cryptocurrency held on CoinZoom to a wallet address on a domestic exchange to cash out.

Checking the Deposit Address on a Domestic Exchange:

Log in to the domestic exchange you wish to cash out and go to the "Deposit/Withdrawal" menu.

Select the cryptocurrency you wish to send from CoinZoom and click "Deposit."

Copy the deposit address for the cryptocurrency and, if necessary, the destination tag/memo.

Requesting a Withdrawal from CoinZoom:

Go to the "Portfolio" > "Withdraw" menu in CoinZoom.

Select the "To External Wallet" option.

Select the cryptocurrency you wish to withdraw and paste the deposit address and tag/memo copied from your domestic exchange exactly as you left it.

Enter the amount you wish to withdraw and enter the two-factor authentication (2FA) code to complete the withdrawal.

Confirmation of Deposit and Cashout on a Domestic Exchange:

Once the transfer is complete, the cryptocurrency will be deposited into your domestic exchange wallet.

You can sell the deposited cryptocurrency for Korean Won (KRW) and then withdraw it to your linked bank account for cashout.

Method 2: Withdrawal via International Bank Wire Transfer

This method allows you to directly transfer your USD balance held on CoinZoom to a domestic foreign currency account in your name.

Requesting an International Wire Transfer on CoinZoom:

Select 'Portfolio' > 'Withdraw' > 'Wire Transfer'.

Select the 'International Wire' option.

Enter your domestic bank information (bank name, SWIFT code, account number, name, address, etc.) accurately.

Enter the USD amount you wish to withdraw and complete the request.

Note: International transfers may take 1-2 business days to process. CoinZoom's withdrawal fee (approximately $50) and the domestic receiving bank's brokerage/deposit fees may be additional, resulting in higher costs. Therefore, they are not suitable for small withdrawals.

Fees and Limits

Deposit Fees:

Cryptocurrency Deposits: Free

Card Deposits: Approximately 2.99%

Withdrawal Fees:

Cryptocurrency Withdrawals: Varies depending on the network fees of each cryptocurrency.

International Transfers: Approximately $50

Limits: Deposits, withdrawals, and transaction limits vary depending on your account tier (VIP level). For more information, please refer to the "Fees and Limits" page on the CoinZoom website.

Important Security Tips
Enable Two-Factor Authentication (2FA): Be sure to set up a 2FA app, such as Google Authenticator, to enhance your account security.

Address Verification: When depositing or withdrawing cryptocurrency, make it a habit to repeatedly check the address and memo/tag. Depositing incorrectly can make it extremely difficult to recover your funds.

Phishing Warning: Be wary of emails or websites impersonating CoinZoom, and always access the official website (coinzoom.com).