Withdraw Bitcoin from Mining City to an external wallet

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This article Mining City Team will guide you on how to Withdraw Bitcoin from Mining City to an external wallet. Proceed as follows:

How do I withdraw bitcoin from Mining City?

You will find the option to withdraw your bitcoin or other coins and send them to an external wallet at the “My Wallet” dashboard.

In order to withdraw bitcoin or other coins from Mining City to an external wallet, you need to set up the wallet address outside the default in the “Settings” section. If installed, you need to follow these steps to initiate your withdrawal.

How to make a withdrawal, step-by-step instructions:

  1. The user enters the amount that they want to withdraw.
  2. The user agrees to continue by clicking the checkbox.
  3. The user receives a confirmation email with a confirmation link.
  4. The user confirms withdrawal by clicking the link.
  5. The user is waiting for confirmation from Mining City.
    Remember: Until the withdrawal is confirmed by both sides (user and Mining City), it will be in the Pending Withdrawals section.

What is the Mining City Wallet Split functionality?

The Wallet Split functionality is found in the My Wallet section. It divides the user’s wallet into Bitcoin and Bitcoin Vault. These currencies (Bitcoin and Bitcoin Vault) are further divided into General Balance and Mining Balance.

The main purpose of the Wallet Split functionality is to provide users with proof that the rewards they have received are authentically from blockchains. The implementation of the two-balance system (General Balance and Mining Balance) for each cryptocurrency for each user allows for tracking the path of mined funds.

All mining income (directly from the blockchain) is reflected in the Mining Balance. The rest of the funds are allocated in the General Balance.

Features in “My Wallet”

My wallet screen includes the following features:

1.General Balance

In the General Balance section users can see the general amount, pending withdrawals,
and the history of all incoming and outgoing transactions. In BTC the user can see the equivalent in specific currencies, whilst in BTCV the conversion rate can only be seen in US Dollars.

General Balance reflects all the transactions that have been made other than mining incomes, namely, transactions deposited from outside of Mining City, transfers from or to other accounts, PIF (Pay It Forward) transactions, and payouts from Compensation Plans, commissions, promotions, and bonuses

2. Mining Balance

Mining Balance – reflects the information about the funds generated in the Mining Process. Mining income is added to the Mining Balance.

Possible transactions from the Mining Balance:

  • withdrawal to an external wallet,
  • transfer funds to General Balance.

Separate transaction histories displayed:

  • Mining Balance History:
    • Incoming transactions: income from mining.
    • Outgoing transactions: withdraw to an external wallet, transfers to General Balance.
  • General Balance History:
    • Incoming transactions: transfers from Mining Balance, transfers from another user, new deposits, payouts from Compensation Plans, bonuses, promotions, commissions.
    • Outgoing transactions: transfers to another user, PIF, personal purchases on the Platform, withdrawals to an external wallet.

3. Pay It Forward

Pay It Forward – user enters the name of another user to whom they want to send the plan. Next, the user picks a plan to be sent to a receiver. Such transactions can only be performed from General Balance.

4. Deposit

My Wallet subpage allows the user to initiate a deposit transaction to their Mining City wallet from their external Bitcoin wallet, which also supplies information related to how the transaction occurs externally, that the address provided is a single-use address only, and that it needs to be confirmed X times on the blockchain.

5. Transfer Funds

Enables the user to transfer funds to another user.

6. Internal Transfer

Enables the transfer of cryptocurrencies from the Mining Balance to the General Balance
within the same account.

The user receives information that it is a transfer to the General Balance and that it is free. They now need to enter the amount they want to transfer. After clicking on transfer the user needs to confirm the transfer by clicking confirm in the popup below.

In the next step the user will receive an email confirmation.

To confirm this transaction the user should click on the confirmation link received in the email. Once confirmed, the internal transaction will be completed.

7. Overview

– includes a summary of mining income from the past 1 day, 1 week, 1 month, and all-time rewards from all sources.

Above are information regarding the withdrawal of bitcoin from the mining city wallet and how to use the features of the My wallet” section on the Mining City dashboard. We hope this article helps you.

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