How to do External Withdrawal

Follow our easy guide to perform secure external withdrawals on CloudK through the Homnifi DeFi 360 platform. Learn the step-by-step process to withdraw your funds with ease and safety.

Welcome to the External Withdraw feature of our platform! This step-by-step guide will walk you through the process of initiating External Withdraw for Tokens. Follow these steps for a seamless experience.

To access this feature, completion of the user's KYC is mandatory. If the KYC process has not been completed, the user will not be able to access this feature.

Step 1: Log in to Your HOMNIFI Account

Step 2: Accessing External Withdrawal

Locate the "Withdraw" section under Wallet on the CloudK platform. This is where you can find options to withdraw various Tokens. To withdraw tokens to an external wallet, please choose the "External Withdraw" option.

Step 3: Select the Token to Transfer

In the withdrawal section, select the cryptocurrency you want to withdraw from the available options. Currently there are three token supported and will be transferred to equivalent tokens in Homnifi platform:

Clfi-D - >> mLYK
Clfi-W - >> Clfi-W
Clfi-R - >> Clfi-R

Be careful while sending the payment as the transactions are not reversible and sending it to the wrong recipient may result in a loss of tokens.

Step 4: Enter Withdrawal Details:

Provide the recipient's wallet address where you want to send the cryptocurrency.
Platform will be auto-selected as "Homnifi".
Specify the withdrawal amount you wish to transfer.
Users have the option to add remarks to the transaction. This is an optional field for users to provide additional notes or information.

Understanding Transfer Fees

Before confirming the transfer, the platform transparently displays any applicable fees.
This is the way fees are calculated, with commissions deducted first and fees subtracted from the remaining total amount.
Note : Fees and commissions are calculated based on the fixed euro value & equivalent market LYK price. To get more details please go to CloudK withdrawal page.

If any issues arise, such as "insufficient tokens" or "invalid address", the platform will provide clear and informative error messages.

Step 5: Save Address (Optional):

Check for a "Save address" option.
You may label the address for easy reference.

Addresses are saved in a coin-wise and user-wise format. This means that if you store an address for a specific token, that address will be reserved only for that token.

Step 6: Confirm the External Withdrawal:

Before completing the internal transfer, review and confirm all the entered data.
This step ensures accuracy and prevents accidental errors in the transfer process.

Step 7: Confirm Authentication OTP

Open your authenticator app (e.g., Google Authenticator, Authy) and retrieve the authentication OTP.
Enter the OTP in the designated field on the withdrawal page.
After you have added the required information, please click on the "submit" button to complete the process.

Congratulations! You have successfully navigated the External Transfers feature. For further assistance or inquiries, consult our customer support team. Happy transferring!

Last updated 1 month ago