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Sending Crypto Withdrawals

Naewe provides your organisation with the ability to send payouts in cryptocurrency to your end-users or business partners. Each payout is associated with a specific Business entity. In this guide we refer to payouts in cryptocurrency as "crypto withdrawals" or just "withdrawals".

A crypto withdrawal can be initiated either via the Dashboard or via the Naewe API:

  • When initiated via the Dashboard, each withdrawal can be deducted from either the crypto balance or the fiat balance of the Business entity.

  • When initiated via our API, withdrawals are in the configured settlement currency.

Prerequisites for a crypto withdrawal

  1. The associated Business entity needs sufficient balance in the chosen settlement currency, and must be configured to build up a balance in that currency. For details, see Setting up a Business.

  2. The recipient needs to have provided: the denomination fiat currency; the withdrawal cryptocurrency and network; the details of the receiving crypto wallet; and the desired amount in the denomination fiat currency or the withdrawal cryptocurrency.

  3. The specified withdrawal amount must be above the allowed minimum for the selected cryptocurrency and network. For live values, see Supported currencies.

Issuing a crypto withdrawal

The following steps create a crypto withdrawal via the Dashboard. The API approach follows a similar flow.

  1. In the top bar, open the Create menu and select Crypto withdrawal. (In the old dashboard this was "Crypto withdrawal" in the Billing section.)

  2. Under Base:

    • Withdrawal ID — an identifier that lets you match the record between your CRM and Naewe.

    • Business — the Business the funds are withdrawn from. It needs a positive balance; if the balance is insufficient, use Create → Internal transfer or Create → Balance conversion to move or convert funds, or top the Business up with a crypto payment or fiat deposit.

  3. Under Details:

    • Destination address — enter the recipient's address directly, or pick one of your saved addresses (previously called "whitelisted addresses"; see the next section). Some currencies also require a destination tag/memo.

    • Withdrawal amount and Display amount — set the amount in crypto or in the display (fiat) currency. The list of withdrawal cryptocurrencies is not restricted by the Business's deposit configuration; if the currency is available over multiple networks, choose the network as well.

    • Blockchain fee — shows who covers the network fee. By default the recipient covers it (they receive the amount minus the fee); the Business entity setting can change that default, and it can be overridden per withdrawal.

  4. Click Review, check the summary, enter your 2FA code, and confirm. If your 2FA isn't enabled yet, see Two-Factor Authentication.

The withdrawal is then sent for processing.

If our Transaction Monitoring system detects issues with the destination address, the withdrawal may be temporarily blocked until the incident is investigated. Depending on your organisation's approval rules (Security → Approval rules), a withdrawal may also require approval by an authorised colleague before it is executed. Under normal circumstances, the funds are sent to the receiving wallet and, once the blockchain processes the transaction, the withdrawal is completed.

Using saved addresses

When you send cryptocurrency to an external wallet, it is important to ensure the correct address is used. Because addresses are long and complex, manual input is error-prone, and your organisation may have regulatory obligations to vet addresses before sending funds. To help, Naewe lets you save an address with business context that uniquely identifies it — the feature the old dashboard called "whitelisted addresses" is now Saved addresses in the sidebar.

Adding a saved address

  1. Open Saved addresses in the sidebar.

  2. Add a new address and fill in:

    • Label — business context for grouping and identification, e.g. "EU - User 1713".

    • Currency — the cryptocurrency the address format should conform to.

    • Network — where the currency is supported over multiple networks.

    • Address — the beneficiary's receiving address. It is validated against the expected format; some currencies have an additional destination tag/memo field.

  3. Click Review and confirm. The address is now selectable in the crypto withdrawal form.

Finding a withdrawal in the Dashboard

  1. Open Transactions in the sidebar and choose Crypto withdrawals.

  2. Filter by Withdrawal ID or the other available filters.

  3. Open a record for full details, including the blockchain transaction.