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Knowledge Base / Depositing & Withdrawing Bitcoin

Depositing & Withdrawing Bitcoin

Depositing & Withdrawing Bitcoin

What are the requirements to enable deposit/withdraw functionality?

To enable bitcoin deposit/withdraw functionality, you must provide an image of your state issued Driver’s License, which must be unexpired and must bear your date of birth, citizenship or permanent residence, signature, and photograph.

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After I purchase bitcoin, when can I withdraw it from River Financial?

Any bitcoin that you purchase through River Financial will be subject to a holding period to ensure that the transaction was not fraudulent.

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How do I use the Lightning Network on River?

The Lightning Network is a protocol that enables instant, low-cost Bitcoin transactions. River currently supports Lightning deposits of up to 0.04294967 BTC and Lightning withdrawals of up to 0.01 BTC.

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Is there a Bitcoin withdrawal fee?

Yes, there are Bitcoin network fees when withdrawing Bitcoin from your River account. These network fees are small amounts of Bitcoin given to incentivize Bitcoin miners to confirm Bitcoin transactions on the network.

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How do I deposit Bitcoin (on-chain) into my River account?

There are currently two methods you can use to deposit Bitcoin: on-chain and Lightning. This article covers how you can deposit Bitcoin on-chain.

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How do I withdraw Bitcoin (on-chain) from my River account?

There are currently two methods you can use to withdraw Bitcoin: on-chain and Lightning. This article covers how you can withdraw Bitcoin on-chain.

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