Uphold is a popular cryptocurrency exchange that supports various digital assets, including Stellar Lumens (XLM). Here’s a quick guide on how to send XLM from your Uphold wallet to another recipient’s wallet.
Before sending XLM from Uphold, you need to access your wallet on the platform. You can login to Uphold on the desktop or mobile app any time you need to access your coins.
Sending XLM: A Simple Guide to Uphold’s Transfer Process
Once you have accessed your Uphold XLM wallet, the next step is to send your XLM to another recipient’s wallet. This guide covers the entire transfer process, including setting the destination address, specifying the amount, and confirming the transaction.
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Access the Uphold Dashboard and locate your “portfolio” which can be found in the icons that reside on the left of the screen. From here you can select to start your transaction.
Under the “Anything to Anything section” you can click transact and then select which asset you want to withdraw or trade.
In this case, we are selecting XLM.
Click the “From” drop down and in the search box, type “XLM”
Choose the asset in your portfolio and then select the amount you want to move.
You enter the amount manually or choose a percentage of the balance in your account.
Here I have chosen Max for a total of 107 XLM.
Next you need to select the “To” dropdown and choose where you want to send the coins.
You can choose to move them to another XLM wallet in your Uphold account or you can move them to an external wallet.
For this example, we are choosing an external wallet so we can withdraw our XLM out of Uphold.
Once we select the external XLM wallet, we can paste the wallet address where the funds are to be sent.
Pro tip: Double check to see if your receiving wallet requires a “memo” to go along with the wallet address. If you are sending to another exchange, you likely have to add a memo. If you are using an external wallet, you may not need it.
On the next screen you will need to confirm the withdrawal and approve the transaction.
If you have 2FA activated then you will need to enter your 6 digit code to push the transaction through.
They may also require you to take a quick photo in front of your computer at time of transaction to verify your identity.
The ID verification takes less than a minute and your coins are immediately sent to your desired wallet.
Understanding Uphold’s XLM Transfer Fees and Limits
Before sending XLM on Uphold, it’s important to understand the fees and limits associated with the transaction. This section will explain the various fees and limits, as well as tips on how to minimize costs and maximize your transfer amount.
Withdrawal fees: 0% but they do charge a spread.
Network fees: Charged based on network costs and congestion. With something like Bitcoin or Ethereum it might be expensive to withdrawal when network use is high but XLM has extraordinarily low network fees.
Tips for Ensuring a Smooth XLM Transfer on Uphold
While sending XLM on Uphold is generally straightforward, there are some tips and best practices you can follow to ensure a smooth and hassle-free transfer experience. This section covers some essential tips, such as double-checking the destination address and monitoring the transaction status.
- Make sure you have the correct address. This is the most common mistake people make when withdrawing funds. They send it to a non-xlm address or someone else’s xlm address they can’t access. Double and triple check you are sending to the correct address.
- Know the difference between private and public key.When you withdraw cryptocurrency from Uphold or any other exchange, you will typically need to provide the destination wallet address. This address is a public key that is used to receive the cryptocurrency, and it is safe to share with anyone.
However, it is important to keep your private key secure and never share it with anyone. The private key is used to access and manage the cryptocurrency stored in the wallet. If someone else gains access to your private key, they could potentially steal your cryptocurrency.
Therefore, when you withdraw cryptocurrency to a wallet, ensure that you are only providing the public address and not the private key. This will help to keep your funds secure and prevent any unauthorized access to your wallet. It is also a good practice to store your private key offline in a secure location, such as a hardware wallet or encrypted USB drive.
What to Do If You Encounter Problems with Your XLM Transfer on Uphold
In some cases, you may encounter issues or errors during the XLM transfer process on Uphold. In the event you run into an issue withdrawing your XLM, contact support immediately.
Why Uphold Is a Great Choice for XLM & Crypto Transactions
Uphold is a top choice for anyone looking to send or receive Stellar Lumens (XLM) and other cryptocurrencies. The platform offers a user-friendly and secure environment for managing your digital assets, with robust features such as multi-currency support, competitive exchange rates, and instant transfers.
With its intuitive interface and straightforward transaction process, Uphold makes it easy for both novice and experienced users to navigate the world of cryptocurrency. Additionally, Uphold takes security seriously, implementing industry-standard measures such as two-factor authentication, encryption, and cold storage to safeguard users’ funds.
By choosing Uphold for your XLM transactions, you can enjoy peace of mind knowing that your digital assets are in good hands.
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