How long does a withdrawal take?

Verasity has two withdrawal methods for its VeraWallet users:

1. Manual Withdrawals - estimated 24 hours, the withdrawal goes through an extra security layer and the wallet holder has an opportunity to cancel the transaction

2. Automated Withdrawals - takes a few minutes*, the withdrawal is processed automatically and there is no opportunity to recall the transfer.

The default for all VeraWallet accounts will be the standard withdrawals process (estimated 24 hours) but if wallet holders wish to by-pass our additional security protocols they can opt-in and enable Automated Withdrawals with their Verawallet. Both withdrawal methods charge the same transaction fee.

The security and protection of our wallet holders remains central to Verasity, therefore to qualify for Automated Withdrawals the two following conditions must be met:

• Two Factor Authentication (2FA) must be turned on.
• The VeraWallet account has received at least 100,000 VRA in deposits.

You can switch Automated Withdrawals on or off at any time and changing this option will only affect withdrawals that will be requested after the change.

All withdrawals are processed in the order they are received.

* Please note: the majority of all Automated Withdrawals will be processed within a few minutes but there may be some cases an estimated 12 hours are necessary for processing due to our cold storage facilities for security.