Stellar decentralized exchanges like StellarPort and StellarTerm let you buy other cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Ethereum (ETH) and so on. But, how do you withdraw Bitcoin from Stellarport / Stellarterm?
In reality, what you hold is a cryptocurrency token that is backed by real cryptocurrency. For instance, if you hold Bitcoin on Stellar Term or StellarPort, you hold a Bitcoin token that can be redeemed for real Bitcoin. It holds same value as real bitcoin and you can trade them for other Stellar tokens / assets, if you wish to. Similarly, Ethereum on Stellarport is an Ethereum token running on Stellar blockchain pegged to real ETH value.
If you have Bitcoin is held with StellarPort’s BTC anchor, you will have to do KYC in order to get the withdrawal processed. Mandatory KYC is required for other cryptocurrencies as well and this includes ETH, XRP and LTC.
Another very popular anchor on these Stellar decentralized exchanges is Apay.io and they can withdraw them by following instructions on Apay.io/out. If you are on StellarTerm.com, withdrawing Bitcoin is even easier. Just click on Withdraw icon as shown in screenshot shown above and enter your Bitcoin address.
You can follow these steps for any other non-Stellar asset like Ethereum, Ripple and Litecoin as well.
