How to deposit Stellar Lumen (XLM) to Bitfinex
Note: Deposits to Bitfinex for Stellar Lumen requires both a deposit address and a deposit memo.
A memo is a unique message assigned to each XLM based account and used to identify the recipient in a transaction.
1. To make an XLM deposit, firstly log in to your Bitfinex account.
2. Then, go to Wallets > Deposits > Cryptocurrency and select Stellar Lumen.
3. You will see a reminder page that warns you about the importance of including both your XLM deposit address and a deposit memo for the deposit to be credited to your account successfully. Here, you will need to confirm your understanding to proceed to the deposit information.
4. The Bitfinex XLM deposit address can be found at the top, and you can press on Click to generate address to get your memo specific to your Bitfinex account.
Important: The deposit address and memo should be copied with no additional or missing symbols/spaces.
5. With your deposit address and deposit memo, you can now create a transaction to deposit XLM to Bitfinex.
Note: If you do not include the proper memo or do not have a memo in your deposit, you will be charged a fee for the token recovery. Only users verified to Intermediate level or above are eligible for the recovery process.
Stellar (XLM) account merge transfers
The Stellar (XLM) account merge operation transfers the native balance (the amount of XLM an account holds) to another account and removes the source account from the ledger. Account merge transactions to Bitfinex are not considered as deposits.
Important: Merging Stellar (XLM) accounts to Bitfinex will result in your funds being unrecoverable.
How to withdraw Stellar Lumen (XLM) from Bitfinex
Note: Depending on where you are withdrawing your XLM, sometimes a memo may not be needed.
1. If you are withdrawing XLM from Bitfinex to a third party, be sure to confirm with the receiving party if all funds are sent to the same address and if you need to provide a memo making the transaction.
2. If a memo is needed for the transaction, copy and paste it into the memo field on your Bitfinex XLM withdrawal page.
Important: If no memo is provided and you are sure none is needed, you can select the No Memo in the checkbox.
3. Then, select the wallet the funds will be taken from.
4. And, finally, click on Request Withdrawal.
Important: Stellar wallets need to be activated before funds can be sent to them, so please ensure that your wallet is activated before sending funds from Bitfinex; otherwise, your withdrawal will fail. You can also check if the address exists in an explorer. For more information, please contact your relevant Stellar wallet support.
If you have any questions, please feel free to contact Bitfinex Support. We will be happy to help!
