Sending Bitcoin from your Hardblock Account

Withdrawing bitcoin from your Hardblock account into self-custody is easy.

This article describes how to send bitcoin from your account using a standard on-chain bitcoin wallet. For lightning network withdrawals, see this article: https://support.hardblock.com.au/article/57-lightning-network

Please note that bitcoin withdrawals must only go to self-custodial bitcoin wallet addresses. You must not use your Hardblock account to send bitcoin to a custodial bitcoin wallet, such as another exchange account or another online platform where you do not control the private keys for the wallet. Transacting with custodial wallets is against our Terms of Service and may see your account closed down.

Finally, prior to being able to send bitcoin from your account, you need to complete a verification call with us. After your first deposit is received, you can book in the verification call via the link shown when logged into your account, found under your account balance, or on the Bitcoin sending widget.

In some cases, we might also ask you for additional verification information, such as a selfie and/or a source of income/wealth check. We may also ask other questions about your activity with us.

How to withdraw Bitcoin from your Hardblock Account

• Login to your account and head to Bitcoin > Send:

• If its your first time navigating to this page, you will see a notice regarding only sending to self-custodial wallet addresses. Confirm the notification and you will arrive at the sending widget.
• Copy a bitcoin address generated from your receiving bitcoin wallet - you can either copy and paste the address string into the window, or if you're on a device with a camera you can scan a QR code using the QR code button.

• Enter your amount in bitcoin or AUD, or use the 'Max' button to send all available bitcoin in your account
• Choose your sending type - normal, fast or batch. You can read more about sending types here: https://support.hardblock.com.au/article/29-understanding-bitcoin-transaction-fees
• Enter your 2FA code, then click "Send Bitcoin"
• You will then be taken to a confirmation page where you can double-check the amount, address and fee. It is important to double-check, as bitcoin transactions are irreversable!

• After double-checking and hitting submit, you will return to the sending widget and see 'Transaction Placed'. You will also see the transaction in the transaction history table at the bottom of the sending page.
• Initially, the Transaction ID field will list 'Pending'. This will change to an transaction ID once the transaction is included in a block on the blockchain - you will then be able to follow the link or copy/paste the ID into a blockchain explorer like mempool.space to view the transaction
• After enough network confirmations are reached, your bitcoin wallet will update with the newly received bitcoin.

How long will my transaction take?

Note that transaction times can sometimes vary depending on network conditions. Usually, 'Fast' or 'Normal' transactions should arrive at their destination within 10-30 minutes. In some cases it can take up to an hour, and in extreme cases, if there is a surge in demand for bitcoin transactions, it may take even longer for your transaction to arrive.

In most cases of a delay, simply check your transaction ID in a blockchain explorer and be patient. If you think something may have gone wrong, double-check the receiving address is correct, and reach out to our support inbox for help.

If you chose 'Batched Send', your transaction moves into a pending state and will be broadcasted during our batched send which is typically around 1am every Sunday. Note that transactions placed this way are not able to be cancelled, and so should still be placed with care as you will not be able to change your mind later, but before the batch is broadcast.

Troubleshooting Bitcoin Withdrawals

If you have placed a withdrawal, and it has been confirmed on the network as per the transaction ID shown at the bottom of your account Bitcoin > Send page, but you have not seen the bitcoin arrive in your receiving wallet - you will need to troubleshoot in your receiving wallet. See if you need to refresh/update the wallet, or ensure it is connected to a node in order to receive blockchain information. Finally, ensure that the receiving address was correct.

If you are unable to send bitcoin transactions using your account, usually this is because you haven't completed a call verification with us. Look for the booking link underneath your account balance to book the call.

If you've completed the call, but are still unable to submit a bitcoin transaction, then your account may have been restricted. In some cases, this may be for your own security, or because your account is subject to additional controls and/or needs more verification steps to happen before bitcoin sending can be enabled.

Some accounts may never be granted the ability to send bitcoin. Restricted accounts can still deposit and withdraw Australian Dollars, and buy and sell bitcoin, and can receive bitcoin, but not be able to withdraw Bitcoin. Usually, restrictions like this are placed due to our obligations with regulators.